Austria Construction Market by Type (Renovation and New Construction), and by Sector (Real Estate, Infrastructure, and Industrial)–Opportunity Analysis and Industry Forecast, 2024–2038

Austria Construction Market by Type (Renovation and New Construction), and by Sector (Real Estate, Infrastructure, and Industrial)–Opportunity Analysis and Industry Forecast, 2024–2038

The Austria Construction Market size was valued at USD 48.99 billion in 2023, and is predicted to reach USD 67.52 billion by 2030, at a CAGR of 6.3% from 2024 to 2030.

Austria's construction industry is experiencing significant growth, driven by substantial government investment in infrastructure projects, especially within the renewable energy sector and power grids. In 2021, the Austrian government adopted the Renewables Expansion Law (EAG), allocating an impressive USD 1.18 billion to promote renewable power generation. This legislation aims to achieve the ambitious target of producing 100% of the country's electricity from renewable sources by 2030. The EAG also includes provisions for investment grants and subsidies for solar, wind, and biomass projects. Over the next decade, these initiatives are expected to attract total investments of up to USD 35.4 billion. This surge in funding and support underscores Austria's commitment to sustainable energy and is a major catalyst for the expansion of its construction industry, driving innovation and development in the sector.

However, the construction industry faces significant challenges due to the intricate network of government regulations and permitting processes, that often necessitate numerous approvals from various local, regional, and national authorities. These regulatory hurdles encompass a wide array of requirements, including zoning regulations, environmental assessments, building code compliance, safety standards, and other prerequisites. Delays in obtaining permits, bureaucratic inefficiencies, and inconsistencies in regulations across different jurisdictions can significantly extend project timelines and inflate costs. Additionally, fluctuations in regulations or sudden policy changes can disrupt ongoing projects and deter potential investments. For instance, the United States Environmental Protection Agency (EPA) oversees various aspects of the construction sector, such as air quality, waste disposal, and water regulations, providing compliance assistance resources for managing environmental responsibilities during different construction phases.

Conversely, the construction sector is undergoing a transformative shift driven by digitalization and the adoption of Building Information Modeling (BIM). These advancements are revolutionizing project management processes by integrating advanced technologies to enhance efficiency, accuracy, and collaboration. BIM, an advanced 3D modeling tool, enables stakeholders to create and manage digital representations of structures and infrastructure, facilitating improved coordination and communication among project teams. For example, in September 2022, the National Institute of Building Sciences (NIBS) launched the U.S. National Building Information Management (BIM) Program. This initiative aims to modernize the construction industry and achieve unprecedented levels of industrial efficiency through digitalization, addressing the lack of digitalization in the U.S. construction sector that hampers the optimization of work processes to enhance efficiency, cost-effectiveness, resilience, and safety in construction and maintenance activities.

KEY BENEFITS

The Austria construction industry is segmented based on type, and sector.
Based on type, the market is segmented renovation and new construction.
Based on sector, the market is divided into real estate, infrastructure, and industrial.

Key Market Players

Leading players operating in the Austria construction industry include:
• China State Construction Engineering Corp. Ltd. (CSCEC)
• China Railway Group Ltd. (CREC)
• China Railway Construction Corp. Ltd. (CRCC)
• China Communications Construction Group Ltd. (CCCC)
• Metallurgical Corporation of China Ltd. (MCC)
• Power Construction Corp. of China
• Vinci SA
• China Energy Engineering Corp. (CEEC)
• Shanghai Construction Group (SCG)
• Bouygues Group

KEY BENEFITS
• The Austria construction market report provides a quantitative analysis of the current market and estimations through 2024-2030 that assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report.
• The competitive analysis of the market players along with their market share in the Austria construction market.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.