Europe Construction Market to Grow at a CAGR of 4.9% During 2024-2032, Driven by the Government Investments in Infrastructure Development

Economic infrastructure investment needs for energy, transport, water and sanitation, and telecoms are estimated by the European Investment Bank (EIB) to be as high as €688 billion annually. According to further social infrastructure projections, the annual investment shortfall for social housing, health care, and education is estimated to be €142 billion. This makes the mobilisation of necessary resources crucial. As a result, the current and previous multiannual financial frameworks prioritised the extension of projects and initiatives where infrastructure plays a major role in responding to rising needs.

In 2021, housing accounted for 5.6% of GDP in the EU. Increasing urbanisation and government initiatives such as the European Fund for Strategic Investments (EFSI) contribute to the Europe construction market expansion.

Increasing investment in sustainable construction methods also drives the market. In February 2024, Skanska AB (OTCMKTS: SKBSY) signed a contract with the municipality of Lindesnes in southern Norway to develop a health and care centre with an investment of USD 78.09 million (NOK 822 million). The construction is expected to start in February 2024 and end in December 2027 while maintaining sustainability, such as the building being built with a large amount of wood, emitting no greenhouse gases, and producing more energy during construction than it consumes during operation.

The 8,000-square-meter care facility will consist of 48 short-term care apartments and 72 care residences. The health facility, which will occupy about 12,500 square metres, will house a café, spaces for volunteer groups and organisations, an emergency room, an ambulance station, a day activity centre, a healthy lifestyle centre, a volunteer centre, physiotherapy, occupational therapy, and mental health services, among other things.

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Market Analysis by End Use, Residential Buildings and Single Units, and Region:

• The market, on the basis of end use, can be divided into residential, healthcare, and hospitality, among others.

• Based on residential buildings and single units, the market can be divided into apartments/flats, detached houses, semi-detached, and terraced houses, among others.

• The regional markets for construction in Europe include Germany, the United Kingdom, France, and Italy, among others.

Key Findings of the Report:

• The Connecting Europe Facility (CEF) awarded almost €6 billion in grants to 107 transport infrastructure projects that the European Commission has chosen. Projects aimed at creating an eco-friendly and more productive network of inland waterways, maritime routes, and railroads along the trans-European transport network (TEN-T) will receive more than 80% of the financing, which creates opportunities for intensive construction activities in Europe.

• Sustainable construction methods are gaining traction in Europe. The EU funding programme Circular Bio-based Europe (CBE JU) launched its new calls dedicated to building materials to select projects that will facilitate the demonstration and deployment of sustainable bio-based construction materials, supporting the market expansion.

• The incorporation of advanced technologies such as digital twin technologies, which build virtual representations of the processes and infrastructure that are necessary to the construction industry's competitiveness, and augmented and virtual reality, aids the Europe construction market growth.

• The EU government’s home ownership initiatives, such as the European Responsible Housing Declaration, which supports specific guidelines for long-term investments in neighbourhoods, building development and renovation, and equitable interactions with all parties involved, foster the market.

Key Offerings of the Report:

• The EMR report gives an overview of the Europe construction market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the end uses, residential buildings and single units, and major regions of construction in Europe.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Europe construction market are VINCI SA, ACS Group, Skanska AB, Bouygues Construction, Hochtief AG, Eiffage S.A., STRABAG International GmbH, Balfour Beatty plc, Ferrovial S.A., and Acciona, S.A, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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