The construction market outlook for the rest of the year 2018 is mainly positive in Cramo’s operating countries. Growth is expected to continue, although the country-specific variances are considerable. In many countries, the growth that accelerated in 2017 is predicted to slow down. According to Euroconstruct June estimates, the construction market will grow by 4.5% in Norway, 3.4% in Finland and 2.5% in Sweden in 2018. In Austria and Germany, growth is forecasted to be 0.8-1.6%. Growth is rapid in the Czech Republic, Slovakia, Hungary and Poland, where Euroconstruct estimates on average 10.4% market growth. Forecon’s construction market growth estimate for Estonia, Lithuania and Russia is 4-5%. The Sveriges Byggindustrier is projecting 2% growth for the Swedish construction market in 2018, according to their latest October estimate. In 2019, market is expected to decline by 3%. The Confederation of the Finnish Construction Industries forecasted in October that the construction market in Finland will grow by approximately 3% in 2018. The peak in the construction market is expected to be reached in 2019 and a slight decrease projected thereafter.
The European Rental Association (ERA) forecasts that the equipment rental market will grow in 2018 in all of Cramo’s operating countries within the scope of ERA’s forecast. Forecon estimates that the equipment rental market will grow by approximately 3-5% in Finland, 1% in Sweden and 2% in Estonia and Lithuania in 2018. Forecon estimates that the equipment rental market will grow in 2019 by 3 % in Finland, 1% in Sweden and 1-2% in Estonia and Lithuania.