Greece’s construction industry held up relatively well in 2020, with construction sites remaining operational despite the lockdown measures imposed by the government. As a result, the construction industry registered growth in 2020, and continued to perform well in the first quarter of 2021. According to the Hellenic Statistical Authority (ELSTAT), the construction industry’s value add at seasonally-adjusted terms grew by 14.3% year on year (YoY) in the first quarter of 2021, and was preceded by year-on-year (Y-o-Y) growth rates of 0.6% in Q4, 12.1% in Q3 and 24% in Q2 2020.
Despite the robust growth in the first quarter of 2021, the publisher expects the country’s construction industry to decelerate and grow by 3.5% in 2021, and record an average growth rate of 2.6% between 2022 and 2025. The industry’s output will be supported by improving investor confidence and investments in transport, renewable energy, residential and commercial infrastructure projects. The government is focusing on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix by 35% over the next 10 years. The plan involves a target of producing 7.7GW of solar PV and 7GW of wind capacity by 2030.
An increase in building permits and foreign direct investment (FDI) in construction will also contribute to the industry’s growth momentum in the early part of the forecast period. According to the ELSTAT, the number of building permits issued in the country registered growth of 36% in the first four months of 2021, increasing from 5,272 during January-April 2020 to 7,172 during January-April 2021, while the net Foreign Direct Investment (FDI) in Greece’s construction industry grew by 74.3% YoY in 2020, increasing from EUR36.5 million (USD42.9 million) in 2019 to EUR63.7 million (US$74.9 million) in 2020, according to the Bank of Greece. In addition to this, financial assistance worth EUR166.7 million (US$194.6 million) from the European Union (EU) for the construction of a new liquid natural gas (“LNG”) terminal in Alexandropoulos will also support the industry.
This report provides a comprehensive analysis of the construction industry in Greece. It provides -
Despite the robust growth in the first quarter of 2021, the publisher expects the country’s construction industry to decelerate and grow by 3.5% in 2021, and record an average growth rate of 2.6% between 2022 and 2025. The industry’s output will be supported by improving investor confidence and investments in transport, renewable energy, residential and commercial infrastructure projects. The government is focusing on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix by 35% over the next 10 years. The plan involves a target of producing 7.7GW of solar PV and 7GW of wind capacity by 2030.
An increase in building permits and foreign direct investment (FDI) in construction will also contribute to the industry’s growth momentum in the early part of the forecast period. According to the ELSTAT, the number of building permits issued in the country registered growth of 36% in the first four months of 2021, increasing from 5,272 during January-April 2020 to 7,172 during January-April 2021, while the net Foreign Direct Investment (FDI) in Greece’s construction industry grew by 74.3% YoY in 2020, increasing from EUR36.5 million (USD42.9 million) in 2019 to EUR63.7 million (US$74.9 million) in 2020, according to the Bank of Greece. In addition to this, financial assistance worth EUR166.7 million (US$194.6 million) from the European Union (EU) for the construction of a new liquid natural gas (“LNG”) terminal in Alexandropoulos will also support the industry.
The publisher’s report provides detailed market analysis, information and insights into Greece’s construction industry, including:
- Greece’s construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Greece’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Greece. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Greece, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market DataContact The Publisher
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
