Romania Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028
Summary
GlobalData expects the Romanian construction industry to shrink by 4.6% in real terms in 2024, owing to high inflation and elevated interest rates, coupled with rising construction costs, and falling residential building permits. According to the National Statistics Institute (NIS), the average construction cost index rose by 11.7% year-on-year (YoY) in the first two months of 2024, preceded by an annual growth of 8.2% in 2023. Moreover, the total number of residential building permits issued in the country fell by 5.7% YoY in the first two months of 2024, following an annual fall of 20.6% in 2023.
The industry is expected to recover at an average annual rate of 3.7% from 2025 to 2028, owing to investments in infrastructure, renewable energy, and housing infrastructure projects. Growth will also be supported by investments as part of the National Recovery and Resilience Plan (NRRP) approved in December 2023, which involves grants worth RON59.1 billion ($12.9 billion) to support the green transition, and REPowerEU grants worth RON6.9 billion ($1.5 billion). Forecast period growth in the industry will also be supported by improved investments in the energy sector, as a part of government’s commitment to increase the share of renewable energy, in total energy consumption to 36% in 2030 from 30.6% in 2023. In March 2024, the European Commission approved Romania’s RON14.7 billion ($3.2 billion) scheme to support the construction and operation of new solar photovoltaic (PV) facilities and onshore wind farms. The scheme was approved under the Temporary Crisis and Transition Framework for state aid, and the aid will be provided through a competitive bidding process by the end of next year.
GlobalData’s Construction in Romania - Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information, and insights into the Romanian construction industry, including -
- The Romanian 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 Romanian 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 Romania. It provides -
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Romania, 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: Romania, Key Economic Indicators
- Table 3: Romania, Commercial Construction Output by Project Type (Real % Change), 2019–28
- Table 4: Romania, Top Commercial Construction Projects by Value
- Table 5: Romania, Industrial Construction Output by Project Type (Real % Change), 2019–28
- Table 6: Romania, Top Industrial Construction Projects by Value
- Table 7: Romania, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
- Table 8: Romania, Top Infrastructure Construction Projects by Value
- Table 9: Romania, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
- Table 10: Romania, Top Energy and Utilities Construction Projects by Value
- Table 11: Romania, Institutional Construction Output by Project Type (Real % Change), 2019–28
- Table 12: Romania, Top Institutional Construction Projects by Value
- Table 13: Romania, Residential Construction Output by Project Type (Real % Change), 2019–28
- Table 14: Romania, Top Residential Construction Projects by Value
- Table 15: Romania, Key Contractors
- Table 16: Romania, Key Consultants
- Table 17: Romania, Construction Output Value (Real, $ Million)
- Table 18: Romania, Construction Output Value (Nominal, RON Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Eastern Europe, Construction Output (Real % Change), 2022–28
- Figure 2: Romania, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
- Figure 3: Romania, Risk Summary
- Figure 4: Romania, Risk Regional Comparison
- Figure 5: Romania, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
- Figure 6: Romania, Construction Output Value, by Sector (Real, $ Million), 2019–28
- Figure 7: Romania, Construction Value Add (Chain linked volumes (2015), (RON million) Seasonally and calendar adjusted data)
- Figure 8: Romania, Gross Fixed Capital Formation (Chain linked volumes (2015), (RON million) Seasonally and calendar adjusted data)
- Figure 9: Romania, Construction Production index (2015=100)
- Figure 10: Romania, Construction Cost Index (2021=100)
- Figure 11: Romania, Construction Projects Momentum Index
- Figure 12: Eastern Europe, Construction Projects Momentum Index
- Figure 13: Romania, Commercial Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 14: Romania, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 15: Romania, Wholesale and retail Value Add (Chain linked volumes (2015), (RON million) Seasonally and calendar adjusted data)
- Figure 16: Romania, Total Tourist Arrivals (In Thousands)
- Figure 17: Romania, Wholesale and Retail Building Permits (Number)
- Figure 18: Romania, Hotel and Similar Type Building Permits (Number)
- Figure 19: Romania, Industrial Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 20: Romania, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 21: Romania, Manufacturing Value Add (Chain linked volumes (2015), (RON million) Seasonally and calendar adjusted data)
- Figure 22: Romania, Manufacturing Production Index (base year 2021)
- Figure 23: Romania, Manufacturing Turnover Index (base year 2021)
- Figure 24: Romania, New Order Value Index (base year 2021)
- Figure 25: Romania, Total Merchandise Export (USD Million)
- Figure 26: Romania, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 27: Romania, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Romania, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 29: Romania, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Romania, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 31: Romania, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Romania, Permits Issued for Administrative Buildings (Number)
- Figure 33: Romania, Residential Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 34: Romania, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 35: Romania, Real-estate Value Add (Chain linked volumes (2015), (RON million) Seasonally and calendar adjusted data)
- Figure 36: Romania, Residential Building Permits Issued (Total, Number)
- Figure 37: Romania, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 38: Romania, Headquarters of Key Consultants (% of Total Project Pipeline)
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