Greece Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
Summary
The construction industry in Greece is expected to register annual growth of 6.3% in real terms in 2023, following on from an expansion of 26% in 2022, driven primarily by investments as part of the European Union (EU’s) Recovery and Resilience Facility (RRF). An improvement in the tourism and hospitality sectors, coupled with rising foreign direct investment (FDI) has also been a supporting factor. According to the United Nations Conference on Trade and Development (UNCTAD), FDI in Greece rose by 20.2% last year, increasing from EUR6.2 billion ($6.3 billion) in 2021 to a historic high of EUR7.4 billion ($7.6 billion) in 2022. Rising building permits will also provide a boost to the industry’s growth in 2023.
Following the sharp boost in activity in 2022-23 from spending under the RRF, output will ease back in 2024, but it will still be much higher than 2021, with construction activity continuing to be supported by investments in transport, renewable energy, residential and commercial construction projects. The government aims 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 and 7GW of wind capacity by 2030. In May 2023, the Greek government allocated a budget of EUR238 million ($243 million) for its “Photovoltaics on the Roof” program.
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.
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
- 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: Greece, Key Economic Indicators
- Table 3: Greece, Commercial Construction Output by Project Type (Real % Change), 2018–27
- Table 4: Greece, Top Commercial Construction Projects by Value
- Table 5: Greece, Industrial Construction Output by Project Type (Real % Change), 2018–27
- Table 6: Greece, Top Industrial Construction Projects by Value
- Table 7: Greece, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
- Table 8: Greece, Top Infrastructure Construction Projects by Value
- Table 9: Greece, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
- Table 10: Greece, Top Energy and Utilities Construction Projects by Value
- Table 11: Greece, Institutional Construction Output by Project Type (Real % Change), 2018–27
- Table 12: Greece, Top Institutional Construction Projects by Value
- Table 13: Greece, Residential Construction Output by Project Type (Real % Change), 2018–27
- Table 14: Greece, Top Residential Construction Projects by Value
- Table 15: Greece, Key Contractors
- Table 16: Greece, Key Consultants
- Table 17: Greece, Construction Output Value (Real, $ Million)
- Table 18: Greece, 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: Greece, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
- Figure 3: Greece, Risk Summary
- Figure 4: Greece, Risk Regional Comparison
- Figure 5: Greece, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018–27
- Figure 6: Greece, Construction Output Value, by Sector (Real, $ Million), 2018–27
- Figure 7: Greece, Construction Value Add, 2015 Chain Linked Volume Measures, in EUR Million
- Figure 8: Greece, Total Number of Building Permits, % Change YoY
- Figure 9: Greece, Construction Projects Momentum Index
- Figure 10: Western Europe, Construction Projects Momentum Index
- Figure 11: Greece, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 12: Greece, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 13: Greece, Wholesale and Retail Trade Value Add, 2015 Chain Linked Volume Measures, in EUR Million, % Change YoY
- Figure 14: Greece, Tourist Arrivals (In Thousands)
- Figure 15: Greece, Retail Trade Volume and Turnover Indices, 2015=100, % Change YoY
- Figure 16: Greece, New Commercial Building Permits Issued (Number)
- Figure 17: Greece, New Office Building Permits Issued (Number)
- Figure 18: Greece, New Hotel Building Permits Issued (Number)
- Figure 19: Greece, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 20: Greece, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 21: Greece, Industrial and Manufacturing Production Indices, Seasonally Adjusted, 2015=100, % Change YoY
- Figure 22: Greece, Total Exports, in EUR Million
- Figure 23: Greece, New Manufacturing Building Permits Issued (Number)
- Figure 24: Greece, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 25: Greece, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 26: Greece, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 27: Greece, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Greece, Information and Communication value-add, 2015 Chain Linked Volume Measures (EUR Million)
- Figure 29: Greece, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 30: Greece, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 31: Greece, Public Administration and Defense Value Add, 2015 Chain Linked Volume Measures, (EUR Million)
- Figure 32: Greece, New Educational Building Permits Issued (Number)
- Figure 33: Greece, New Healthcare Building Permits Issued (Number)
- Figure 34: Greece, Residential Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 35: Greece, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 36: Greece, Real-Estate Value Add, 2015 Chain Linked Volume Measures, in EUR Million
- Figure 37: Greece, GFCF in Dwellings, 2015 Chain-Linked Volume Measures (EUR Million)
- Figure 38: Greece, Apartment Price Index, 2007=100, % Change YoY
- Figure 39: Greece, FDI in Greek Real Estate (EUR Million)
- Figure 40: Greece, New Dwelling Permits Issued (Number)
- Figure 41: Greece, Material Costs Index for the Construction of New Residential Buildings, 2015=100
- Figure 42: Greece, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 43: Greece, Headquarters of Key Consultants (% of Total Project Pipeline)
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