Greece Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Greece Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Summary

The Greek construction industry grew by an estimated 15.5% in 2022, following a growth of 7.9% in 2021, supported by an improvement in wider economic activity and funding from the EU’s Recovery and Resilience Facility (RRF). According to the Hellenic Statistical Authority (ELSTAT), the construction industry’s value add, in seasonally-adjusted terms, grew by 14.8% year on year (YoY) in Q3 2022, preceded by Y-o-Y growth rates of 15.8% in Q2 and 21.6% in Q1 2022. However, the construction industry in Greece is expected to contract in 2023, declining by 4.7% in real terms, due to soaring energy costs and inflation, coupled with a fall in building permits issued in the first nine months of 2022.

Over the remainder of the forecast period, GlobalData expects the country’s construction industry to recover and record an average growth rate of 2.5% during 2024-27, supported by improvement in investor confidence and investments in transport, renewable energy, residential and commercial construction 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 to 35% over the next eight years. The plan involves a target of producing 7.7GW of solar PV (Photovoltaic) and 7GW of wind capacity by 2030.

The report provides detailed market analysis, information, and insights into the Greek construction industry, including -

• The Greek 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 Greek 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 (2018-2022) and forecast (2023-2027) 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 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.