Estonia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)

The Construction in Estonia - Key Trends and Opportunities to 2028 (H2 2024) report provides detailed market analysis, information, and insights into the Estonian construction industry, including :

• The Estonian construction industry 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 Estonian construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

The analyst expects the Estonian construction industry to shrink in real terms by 1.3% in 2024, owing to challenges caused by a decline in export activity and the number of new dwelling permits authorized in the country. According to Statistics Estonia, the total value of goods exports declined by 9.8% year on year (YoY) in the first five months of 2024, preceded by an annual fall of 16.3% in 2023. According to Statistics Estonia, the total number of dwelling permits issued in the country fell by 19% YoY in the first quarter of 2024, following overall annual decline of 17% in 2023. A decrease in confidence stemming from growing economic uncertainty in the country is reflected in the declining demand for building permits.

Over the remainder of the forecast period, the construction industry in Estonia is expected to record an annual average growth rate of 4.8% between 2025 and 2028, supported by investments in renewable energy, green hydrogen, and transport infrastructure projects. To build two adjacent 16km rail segments, Rail Baltica signed two additional construction contracts in February 2024 with the Estonian construction companies Verston and Järelpinge Inseneribüroo. With an investment of EUR107 million ($113.4 million), the project includes the construction of seven major structures: one eco-duct, five road viaducts, and one pedestrian tunnel. In addition, the 7.1km Southern portion, which connects Loone to Hagudi, will have six more buildings, including viaducts and bridges. The construction industry’s growth over the forecast period will also be supported by the government's plans to generate 100% of its electricity from renewable sources by 2030 and reduce carbon emissions by 80% by 2035, compared to 1990 levels.

Scope

This report provides a comprehensive analysis of the construction industry in Estonia. It provides :

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Estonia, 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 analyst'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 analyst's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.