There is more to Procure from Europe
After the downfall of 2012-2013, the European economy is in its recovery phase. Since 2014 it is rising again, taking steps to recover its pre crisis GDP growth rate. Several European Economies have successfully recovered their labor and product market and are setting an example for other to follow. Winds of skepticism revolving around the economy are likely to fade as the conditions are now becoming right for investment. The macroeconomic environment is what business ventures lookout for today. Companies that have invested in Europe, or are looking out for investment in Europe not only have operations in the home market but also are global competitors. Europe offers a business environment that perfectly caters to international business needs. Further growth in credit access, expansion of capital stock, additional capital spending and investments and increase in consumer spending are prospects contributing to growth.
Europe offers a great Procurement opportunities in Construction Industry, Consumer Goods Sector Industry, Energy and Power Sector, Automotive Industry, Health Sector, Telecommunication, Technology and Infrastructure. In addition, Europe has a well-established hospitality sector that has attracted the attention of foreign investors in recent years.
Construction industry is mainly driven by large investments flowing in New Residential and
Nonresidential construction with the renovation. Growth is also been seen in construction equipment markets. Germany, Sweden and Ireland are among the potential markets for construction in Europe with the largest contribution coming from these countries. With sector projecting growth, there has been increasing demand for Europe construction tenders. Being an open economy, Government invites tenders for foreign participation in the construction sector. Tenders are invited for construction of mega infrastructure projects. Construction of Bridges and tunnels are largely undertaken by the European government to constantly improve its infrastructure. Procurement opportunities for Technology infrastructure are also high in Europe. Many companies have won contract awards in the construction sector for meeting the needs of the sector. Public procurement opportunities are being created for SMEs and fortune companies in the construction sector. A large number of SMEs have won construction contracts in Europe and are being benefited by the public procurement opportunities from Europe.
Europe has a renowned automobile sector and is among the largest Vehicle producers in the world. Europe has in total 169 vehicles assembling and engine production plants in 16 European countries. Europe’s original equipment manufacturer have an annual turnover of 500 bn$. Automobile Business in Europe is changing drastically with emerging markets also making their presence felt in competition with developed markets. Procurement opportunities are recognised in state-of-art technologies, Manufacturing of auto parts and assembling of vehicles. With industry spilling in fortune, there has been increasing demand for Automobile tenders from Europe. Large scale Automobile projects are in pipeline reflecting opportunities for investments. The government is inviting tenders for the provision of Auto parts and technology services for cars, global tenders for automobile industry are being published for the global investors to participate to further enhance the competitiveness of the market.
Healthcare in Europe has been largely dominated by public authorities. Therefore public procurement opportunities in healthcare are large compared to other sectors. Healthcare tenders are increasingly demanded by European public authorities. Healthcare tender opportunities reflecting procurement of medical devices and equipment are floated by the European government. With technology driving healthcare markets worldwide, European markets is no way behind. E-healthcare projects concerning innovation and use of technology are enhancing procurement opportunities for innovation in Healthcare. European government is inviting tenders in healthcare sector reflecting a need for innovation and development. Global healthcare tenders are floated for local and international participation. Public sector healthcare organisations are exploring ways such as collaborative procurement for upcoming healthcare projects in Europe. Furthermore, these e-healthcare projects are likely to develop a strong market for procurement of innovative goods and services for healthcare in Europe.
Mobile towers and Data services are increasingly becoming an important investment opportunity. European tower sectors are seen growing with the increase in a number of portfolios sold by operators. In coming years telecommunication market is expected to undergo a transformation. With rising demand, the government is aiming to increase public sector ICT procurement with an aim to engage SME participation in the sector. The government’s objective is that at least 50% of new ICT procurement should be from the public sector. In case of large ICT contracts, 25% of the contracts should be given to SMEs. Furthermore, to preserve the competitiveness government floats ICT tenders for public and private participation. Europe’s Telecommunication tenders are being largely demanded by companies seeking to invest in the market. Large international firms are looking for Joint ventures of M&A opportunities from local operators. Telecommunication contract awards are being awarded in the recent past to encourage participation in the sector. The sector offers great opportunities for international players, looking for venturing Europe’s telecommunication market.
European companies are in strong position to make strong energy cost-saving and innovative technologies attracting worldwide demand. Europe’s energy sector is largely driven by renewable energy sources. Europe occupies the second position in development and application of renewable energy. Offshore exploration has also been realized in the recent past. Opportunities for procurement are exhibited by European government by floating Energy tenders. Global Energy tenders from Europe are being increasingly demanded by companies looking for expansion in the sector. Large Energy projects are in pipeline reflecting the growing need for investment in the sector. European government is inviting tenders for installation of solar and Wind plants in Europe. A similar type of investment opportunities is being exhibited from time to time to encourage foreign participation.
European key sectors offer immense potential for investment and offer innovative growth prospects. Furthermore, as the economy recovers from recession, fortune is likely to return in Europe. Public Procurement has also undergone a transformation with a large number of procurement opportunities for SMEs and fortune companies to expand their operations in Europe. Thus, Europe’s diversified sectoral potential paints a bigger picture for businesses expansion in Europe.