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

Best Price Guarantee Length Publisher Published Date SKU
from $1,495 50 Pages GlobalData November, 2024 GBDT19388783
Best Price Guarantee
Price from $1,495
Length 50 Pages
Publisher GlobalData
Published Date November, 2024
SKU GBDT19388783

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


Summary

GlobalData’s Construction in Norway - Key Trends and Opportunities to 2028 (H2 2024) report provides detailed market analysis, information and insights into the Norwegian construction industry, including -
  • The Norwegian 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 Norwegian construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
GlobalData expects the Norwegian construction industry to shrink in real terms by 4% in 2024 owing to continued slowdown in housing market aimed rising interest rates, high inflation and construction costs, coupled with high mortgage rates and decline in building permits issued. According to Statistics Norway, the average construction cost index for residential buildings rose by 2.9% year on year (YoY) in the first eight months of 2024. This increase was attributed to rises in labor (4.6% YoY) and material prices (1.7% YoY). Moreover, the total floor space of dwelling permits issued in the country fell by 5.9% YoY in H1 2024, preceded by an annual fall of 16.8% in 2023. Additionally, the construction industry’s output in 2024 is anticipated to be impacted by the ongoing delays in the implementation of significant infrastructure and energy development projects. In March 2024, the government announced that the tender for 1.5GW floating offshore wind project- Utsira Nord which was to be tendered in 2024 is pushed to 2025 due to disputes between governments and industries over subsidies. Over the remainder of the forecast period, the construction industry’s output is expected to rebound at an annual average growth rate of 3.4% from 2025 to 2028, supported by investments in the transport, commercial, and renewable energy sectors, coupled with the government’s target of reaching net zero carbon emissions by 2030, compared to the 1991 levels.

Scope

This report provides a comprehensive analysis of the construction industry in Norway. It provides -
  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Norway, 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 our 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 business strategies 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
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Norway, Key Economic Indicators
Table 3: Norway, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Norway, Top Commercial Construction Projects by Value
Table 5: Norway, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Norway, Top Industrial Construction Projects by Value
Table 7: Norway, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Norway, Top Infrastructure Construction Projects by Value
Table 9: Norway, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Norway, Top Energy and Utilities Construction Projects by Value
Table 11: Norway, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Norway, Top Institutional Construction Projects by Value
Table 13: Norway, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Norway, Top Residential Construction Projects by Value
Table 15: Norway, Key Contractors
Table 16: Norway, Key Consultants
Table 17: Norway, Construction Output Value (Real, $ Million)
Table 18: Norway, Construction Output Value (Nominal, NOK 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), 2022-28
Figure 2: Norway, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Norway, Risk Summary
Figure 4: Norway, Risk Regional Comparison
Figure 5: Norway, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Norway, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Norway, Construction Value Add (NOK Million, 2021 Constant Prices)
Figure 8: Norway, Construction Production Index, 2021=100
Figure 9: Norway, Construction Employment, in Thousands
Figure 10: Norway, Construction Projects Momentum Index
Figure 11: Western Europe, Construction Projects Momentum Index
Figure 12: Norway, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 13: Norway, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 14: Norway, Guest Nights by Foreign Nationals, In Thousands
Figure 15: Norway, Turnover Index of Accommodation and Food Service Activities, 2021=100
Figure 16: Norway, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 17: Norway, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 18: Norway, Manufacturing Value Add (NOK Million, 2021 Constant Prices)
Figure 19: Norway, Index of Manufacturing Production, 2021=100
Figure 20: Norway, Total Investments in Manufacturing (NOK, Million)
Figure 21: Norway, Total Export Value (NOK, Million)
Figure 22: Norway, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 23: Norway, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: Norway, Construction Production Index for Roads and Railways, 2021=100
Figure 25: Norway, Construction Cost Index for Road Construction, 2015=100
Figure 26: Norway, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 27: Norway, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Norway, Construction Production Index for Utility Projects, 2021=100
Figure 29: Norway, Oil and Gas Extraction Value Add (NOK Million, 2021 Constant Prices)
Figure 30: Norway, Electricity, Gas and Steam Value Add (NOK Million, 2021 Constant Prices)
Figure 31: Norway, Information and Communication Value Add (NOK Million, 2021 Constant Prices)
Figure 32: Norway, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 33: Norway, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Norway, Education Value Add (NOK Million, 2021 Constant Prices)
Figure 35: Norway, Health and Social Work Value Add (NOK Million, 2021 Constant Prices)
Figure 36: Norway, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 37: Norway, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 38: Norway, Total Number of Dwelling Completed (Units)
Figure 39: Norway, Total Number of Dwelling Started (Unit, Number)
Figure 40: Norway, Total Number of Dwelling Under Construction (Unit, Number)
Figure 41: Norway, Real Estate Value Add (NOK Million, 2021 Constant Prices)
Figure 42: Norway, Construction Cost Index for Residential Buildings, 2015=100
Figure 43: Norway, Price Index for New Dwellings, 2015=100
Figure 44: Norway, Utility Floor Space of Dwelling Permits, in Thousand m2
Figure 45: Norway, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: Norway, Headquarters of Key Consultants (% of Total Project Pipeline)

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