Greece Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026 Summary The Greek construction industry is expected to record an expansion of 4.4% this year, following a growth of 10.3% in 2021. The industry’s solid recovery in 2021 was supported by an improvement in wider economic activity, coupled with an improvement in the tourism and hospitality sector. According to the Hellenic Statistical Authority (ELSTAT), the construction industry’s value add, in seasonally adjusted terms, grew by 15.7% year on year (YoY) in Q1 2022, preceded by Y-o-Y growth rates of 10.6% in Q4 and 18.7% in Q3 2021. Short-term growth is expected to be supported by a rise in building permits issued in Q1 2022, which rose by 7.1% YoY from 4,950 to 5,302. GlobalData expects the country’s construction industry to record an average growth rate of 2.7% over the remainder of the forecast period (2023-26), supported by improving investor confidence and investments in transport, renewable energy, residential, and commercial projects, in line with the expected gradual improvement in global economic conditions. Moreover, Greece is the largest recipient of funds through the EU Recovery and Resilience Facility (RRF) in terms of percentage of annual GDP, amounting to 16.6%. Greece has also utilized its full allowance in loans under the scheme, allowing the country to borrow at much lower rates than it otherwise could, providing a significant macroeconomic stimulus that is likely to boost construction activity over the next five years. In addition, the government will continue to focus on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix by 35% by 2030. The plan involves a target of producing 7.7GW of solar PV 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 (2017-2021) and forecast (2022-2026) 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.
- 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 COVID-19 Status
- 3.5 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
- 7.4 GlobalData Construction
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: France, Key Economic Indicators
- Table 3: France, Commercial Construction Output by Project Type (Real % Change), 2017-26
- Table 4: France, Top Commercial Construction Projects by Value
- Table 5: France, Industrial Construction Output by Project Type (Real % Change), 2017-26
- Table 6: France, Top Industrial Construction Projects by Value
- Table 7: France, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
- Table 8: France, Top Infrastructure Construction Projects by Value
- Table 9: France, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
- Table 10: France, Top Energy and Utilities Construction Projects by Value
- Table 11: France, Institutional Construction Output by Project Type (Real % Change), 2017-26
- Table 12: France, Top Institutional Construction Projects by Value
- Table 13: France, Residential Construction Output by Project Type (Real % Change), 2017-26
- Table 14: France, Top Residential Construction Projects by Value
- Table 15: France, Key Contractors
- Table 16: France, Key Consultants
- Table 17: France, Construction Output Value (Real, $ Million)
- Table 18: France, 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), 2020-26
- Figure 2: Greece, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- Figure 3: Greece, COVID-19 Confirmed Cases
- Figure 4: Greece, Risk Summary
- Figure 5: Greece, Risk Regional Comparison
- Figure 6: Greece, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
- Figure 7: Greece, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Figure 8: Greece, Construction Value Add, 2015 Chain Linked Volume Measures, in EUR Million
- Figure 9: Greece, Gross Fixed Capital Formation in the Construction Sector, 2015 Chain Linked Volume Measures (EUR Million)
- Figure 10: Greece, Total Number of Building Permits, % Change YoY
- Figure 11: Greece, Construction Projects Momentum Index
- Figure 12: Region, Construction Projects Momentum Index
- Figure 13: Greece, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 14: Greece, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 15: Greece, Wholesale and Retail Trade Value Add, 2015 Chain Linked Volume Measures, in EUR Million, % Change YoY
- Figure 16: Greece, Tourist Arrivals (In Thousands)
- Figure 17: Greece, Retail Trade Volume and Turnover Indices, 2015=100, % Change YoY
- Figure 18: Greece, New Commercial Building Permits Issued (Number)
- Figure 19: Greece, New Office Building Permits Issued (Number)
- Figure 20: Greece, New Hotel Building Permits Issued (Number)
- Figure 21: Greece, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 22: Greece, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 23: Greece, Industrial and Manufacturing Production Indices, Seasonally Adjusted, 2015=100, % Change YoY
- Figure 24: Greece, Total Exports, in EUR Million
- Figure 25: Greece, New Manufacturing Building Permits Issued (Number)
- Figure 26: Greece, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 27: Greece, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Greece, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 29: Greece, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Greece, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 31: Greece, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Greece, Public Administration and Defense Value Add, 2015 Chain Linked Volume Measures, (EUR Million)
- Figure 33: Greece, New Educational Building Permits Issued (Number)
- Figure 34: Greece, New Healthcare Building Permits Issued (Number)
- Figure 35: Greece, Residential Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 36: Greece, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 37: Greece, Real-Estate Value Add, 2015 Chain Linked Volume Measures, in EUR Million
- Figure 38: Greece, GFCF in Dwellings, 2015 Chain-Linked Volume Measures (EUR Million)
- Figure 39: Greece, Apartment Price Index, 2007=100, % Change YoY
- Figure 40: Greece, FDI in Greek Real Estate (EUR Million)
- Figure 41: Greece, New Dwelling Permits Issued (Number)
- Figure 42: Greece, Material Costs Index for the Construction of New Residential Buildings, 2015=100
- Figure 43: Greece, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 44: Greece, Headquarters of Key Consultants (% of Total Project Pipeline)
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