The Norwegian construction industry is projected to grow by 2.4% in real terms in 2021, following a contraction of 3.3% in 2020. The industry's growth is primarily attributed to the easing of COVID-19 restrictions and an improvement in housing construction during the first half of 2021. According to Statistics Norway, the construction industry grew by 1.4% year on year (YoY) in the first half of 2021, based on the real value-add measure.
Over the forecast period, the industry is expected to register an annual average growth of 2.1% from 2022 to 2025. A key source of growth will be the government’s focus on upgrading the country’s transport infrastructure. In September 2021, the Sotra Link consortium secured a NOK19.8 billion (US$2.3 billion) contract from the Norwegian Public Roads Administration to build and operate a network of highway assets in western Norway. The government also proposed an investment of NOK84.6 billion (US$9.9 billion) towards infrastructure improvements and renewable energy projects in the 2022 Budget.
The government’s focus on renewable energy is also expected to support the industry’s output over the forecast period. Under the “green transition package” announced in June 2020, the government plans to spend NOK3.6 billion (US$382.4 million) to develop the country’s renewable energy infrastructure by 2023. The government's plan to invest over NOK7.3 billion (US$849.3 million) on health and NOK2.5 billion (US$290.9 million) on education, as outlined in the 2022 Budget, will support institutional buildings construction growth over the next two years. In addition, the government's initiatives to expand the labor market, as well as its focus on investing NOK8.6 billion (US$1 billion) in business-oriented research and innovation, will help to generate growth momentum over the forecast period.
The publisher’s Construction in Norway - Key Trends and Opportunities to 2025 (H2 2021) report provides detailed market analysis, information and insights into the Norwegian construction industry, including -
Over the forecast period, the industry is expected to register an annual average growth of 2.1% from 2022 to 2025. A key source of growth will be the government’s focus on upgrading the country’s transport infrastructure. In September 2021, the Sotra Link consortium secured a NOK19.8 billion (US$2.3 billion) contract from the Norwegian Public Roads Administration to build and operate a network of highway assets in western Norway. The government also proposed an investment of NOK84.6 billion (US$9.9 billion) towards infrastructure improvements and renewable energy projects in the 2022 Budget.
The government’s focus on renewable energy is also expected to support the industry’s output over the forecast period. Under the “green transition package” announced in June 2020, the government plans to spend NOK3.6 billion (US$382.4 million) to develop the country’s renewable energy infrastructure by 2023. The government's plan to invest over NOK7.3 billion (US$849.3 million) on health and NOK2.5 billion (US$290.9 million) on education, as outlined in the 2022 Budget, will support institutional buildings construction growth over the next two years. In addition, the government's initiatives to expand the labor market, as well as its focus on investing NOK8.6 billion (US$1 billion) in business-oriented research and innovation, will help to generate growth momentum over the forecast period.
The publisher’s Construction in Norway - Key Trends and Opportunities to 2025 (H2 2021) report provides detailed market analysis, information and insights into the Norwegian construction industry, including -
- The Norwegian 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 the Norwegian 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 Norway. It provides -- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Norway, 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 Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
