Finland Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
Summary
GlobalData expects the Finnish construction industry to contract by 7.9% this year, as the decline in residential constructions continues to weigh on the industry’s output along with the increase of construction companies’ bankruptcies leading to project delays or cancellations. According to Statistics Finland, the number of new bankruptcy proceedings across all the sectors increased by 24.7% year on year (YoY) to 283 companies in August 2023, a new high since 2013-2014. However, the industry’s output in 2023 will supported by the increase of developments in transportation and energy infrastructure projects. The Finnish Transport Infrastructure Agency (FTIA) released the medium-term works for 2023-2025 under Transport 12 in early January 2023, which include the execution of nearly 50 general and road planning projects, 20 railway projects and preliminary studies for small-scale rail and road projects.
The industry’s output is expected to grow at an annual average rate of 2.1%between 2024 and 2027, supported the National Transport System Plan for 2021-2032, under which, the government plans to spend EUR6.1 billion ($6.2 billion) to upgrade the country’s transport infrastructure over the 12-year period. Of the total investment, the government plans to spend EUR3.4 billion ($3.5 billion) for new infrastructure development projects. By segments, 44% of EUR3.4 billion ($3.5 billion) will be allocated for roads, 52% for the rail network and 4% for waterways. As part of the Finnish Government’s fiscal plan for 2023-26, the Ministry of Economic Affairs and Employment allocated EUR1.9 billion ($1.9 billion) for promoting energy efficiency and renewable energy for attaining its energy efficiency target by 2030.
The report provides detailed market analysis, information, and insights into the Finnish construction industry, including -
- The Finnish 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 Finnish construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Finland. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Finland, 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
- Identify and evaluate market opportunities using GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
- 6 Construction Market Data
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Finland, Key Economic Indicators
- Table 3: Finland, Commercial Construction Output by Project Type (Real % Change), 2018–27
- Table 4: Finland, Top Commercial Construction Projects by Value
- Table 5: Finland, Industrial Construction Output by Project Type (Real % Change), 2018–27
- Table 6: Finland, Top Industrial Construction Projects by Value
- Table 7: Finland, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
- Table 8: Finland, Top Infrastructure Construction Projects by Value
- Table 9: Finland, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
- Table 10: Finland, Top Energy and Utilities Construction Projects by Value
- Table 11: Finland, Institutional Construction Output by Project Type (Real % Change), 2018–27
- Table 12: Finland, Top Institutional Construction Projects by Value
- Table 13: Finland, Residential Construction Output by Project Type (Real % Change), 2018–27
- Table 14: Finland, Top Residential Construction Projects by Value
- Table 15: Finland, Key Contractors
- Table 16: Finland, Key Consultants
- Table 17: Finland, Construction Output Value (Real, $ Million)
- Table 18: Finland, Construction Output Value (Nominal, EUR Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Western Europe, Construction Output (Real % Change), 2021–27
- Figure 2: Finland, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
- Figure 3: Finland, Risk Summary
- Figure 4: Finland, Risk Regional Comparison
- Figure 5: Finland, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27
- Figure 6: Finland, Construction Output Value, by Sector (Real, $ Million), 2018–27
- Figure 7: Finland, Construction Value Add (EUR Million, 2015 Constant Prices)
- Figure 8: Finland, Gross Fixed Capital Formation (EUR Million, 2015 Constant Prices)
- Figure 9: Finland, Construction Turnover Index (2015=100)
- Figure 10: Finland, Employment in the Construction Industry
- Figure 11: Finland, Total Building Permits Issued (Unit, Number)
- Figure 12: Finland, Building Cost Index (2015=100)
- Figure 13: Finland, Construction Projects Momentum Index
- Figure 14: Western Europe, Construction Projects Momentum Index
- Figure 15: Finland, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 16: Finland, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 17: Finland, Total Tourist Arrivals (In Numbers)
- Figure 18: Finland, Total Overnight stays (In numbers)
- Figure 19: Finland, Commercial and Office Building Permits Issued (Unit, Number)
- Figure 20: Finland, Warehouse Building Permits Issued (Unit, Number)
- Figure 21: Finland, Agricultural Building Permits Issued (Unit, Number)
- Figure 22: Finland, Accommodation and Food Service Activities Value Add (EUR Million, 2015 Constant Prices)
- Figure 23: Finland, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 24: Finland, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 25: Finland, Manufacturing Turnover Index (2015=100)
- Figure 26: Finland, Manufacturing Value Add (EUR Million, 2015 Constant Prices)
- Figure 27: Finland, Industrial Production Index (2015=100)
- Figure 28: Finland, Industrial Building Permits Issued (Unit, Number)
- Figure 29: Finland, New Orders for Manufacturing Index (2015=100)
- Figure 30: Finland, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 31: Finland, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Finland, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 33: Finland, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 34: Finland, Information and Communication Value-Add (EUR Million, 2015 Chain linked volumes)
- Figure 35: Finland, Total Public utility building Permits (Unit, Number)
- Figure 36: Finland, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 37: Finland, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 38: Finland, Education Value-Add (EUR Million, 2015 chained prices)
- Figure 39: Finland, Institutional Care Building Permits (Unit, Number)
- Figure 40: Finland, Residential Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 41: Finland, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 42: Finland, Real Estate Value Add (EUR Million, 2015 Constant Prices)
- Figure 43: Finland, Residential Building Permits Issued (Unit, Number)
- Figure 44: Finland, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 45: Finland, Headquarters of Key Consultants (% of Total Project Pipeline)
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