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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Europe Construction Market Share
Residential sector helps in expansion of the market due to the rising demand for multi-family housing
The residential sector is expected to develop substantially during the forecast period. There is an increasing demand for the development of multi-family housing construction due to rising urbanisation and the growing population of countries in Europe.
For instance, the Sackville Road Residential Community project encompasses the construction of six blocks of varying heights, ranging from 2 to 15 stories. These blocks are strategically designed to create a cohesive and integrated residential space that caters to diverse housing needs. The project, valued at USD 332 million, represents a significant investment in the construction of a residential community in Hove, the United Kingdom.
Meanwhile, as per the Europe construction industry report, the healthcare sector, driven by factors such as government healthcare spending, demographic changes (like an ageing population), and the need for modern medical facilities, witnessed a noticeable increase on expanding and modernising healthcare infrastructure, especially after the COVID-19 pandemic. Moreover, the hospitality sector, encompassing hotels, resorts, and other leisure facilities, typically follows trends in tourism and business travel.
The table below shows key data and statistics for three sectors in the Europe construction market.
| Sector | Data/Statistic |
| Residential | 1.97M dwellings completed in EU-27 in 2020 (-2.9% from 2019) |
| Residential | 63.8% of EU-27 dwellings completed in 2020 by 5 countries |
| Residential | New dwellings price +5.1% and existing dwellings price +7.3% in EU-27 in 2020 |
| Hospitality | Nights spent in tourist accommodation in EU-27 -52.3% in 2020 |
| Hospitality | Hotel occupancy rate 33.8% and average daily rate EUR 86.75 in Europe in 2020 |
| Hospitality | 212,637 rooms in 1,744 hotel projects in Europe as of Jan 2021 (-7.2% in rooms and -6.3% in projects) |
| Healthcare | Health expenditure EUR 1.13T or 9.9% of GDP in EU-27 in 2019 |
| Healthcare | France, Germany, and Sweden had the highest health expenditure shares of GDP in EU-27 in 2019 (11.3%, 11.2%, and 10.9%) |
| Healthcare | EU-27 average of 36.4 hospital beds per 10K inhabitants in 2019 (6.1 in Cyprus to 82.8 in Germany) |
The development of apartments, flats, and detached houses aids the market growth
Construction of apartments/flats and detached houses play a crucial role in propelling the demand for construction in the European market. The construction of these different types of housing responds to the varied needs and preferences of residents, contributes to urban and suburban development, and stimulates economic activity in the construction sector. Moreover, the increasing focus on the renovation and reconstruction of buildings, as well as the integration of various technologies in construction activities is paving the Europe construction market dynamics and trends.
According to Europe construction market estimates, in North Macedonia, 71.2% of the population lives in a detached house, whereas flats are more common in the Baltics and southern and central Europe, with Spain having the highest proportion of people living in flats at 65.7%. The United Kingdom, Ireland, the Netherlands, and Belgium are the only European countries where the most people live in an apartment or terraced house.
Europe Construction Market Report Snapshots
Europe Construction Market Size
Europe Construction Market Trends
Europe Construction Market Growth
Europe Construction Market Share
Europe Construction Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the Europe construction market reached an approximate value of USD 2,752.75 billion.
The market is expected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4,233.96 billion by 2032.
Construction is any project that starts with a design for a structure at a specific location and ends with assembling all the components to build that structure.
Europe market is being aided by the rising demand for affordable housing, the surging construction of commercial buildings, and the growing infrastructural development activities.
The key trends propelling the market expansion include technological advancements, the development of green energy infrastructure, and the adoption of sustainable construction practices that can reduce emissions.
The major countries in the market in Europe are the United Kingdom, Germany, France, and Italy, among others.
The major end uses of construction in the market are residential, commercial, healthcare, and hospitality, among others.
The significant residential buildings and single units segments in the market include apartments/flats, detached houses, semi-detached, and terraced houses, among others.
Key players in the 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.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124