Although the Lithuanian construction industry was not as severely impacted by the Coronavirus (COVID-19) pandemic as others in the region were in 2020, construction output declined by 0.8%. The construction industry in Lithuania is expected to recover in 2021, growing by 2.9% in real terms. According to the Official Statistics Portal (OSP) of Lithuania, the industry’s value add grew marginally by 0.7% year on year (YoY) in the first half of 2021.
To revive the country’s economy from the COVID-19 crisis, in May 2020, the government launched an economic stimulus package worth EUR6.3 billion (US$7.2 billion) - equivalent to 13% of the country’s GDP. In May 2021, the revised State budget for 2021 provided an additional EUR731.7 million (US$890.2 million), including the European Union (EU) assistance and other international financial support. Of the total, EUR581.3 million (US$707.2 million) is planned for financing COVID-19 support measures.
Over the remainder part of the forecast period, the industry is expected to register an annual average growth of 3.9% between 2022-2025, supported by investments on infrastructure, renewable energy, and residential projects. According to the energy minister Dainius Kreivys, the country will receive investments in green energy totaling EUR10 billion (US$12.2 billion), including EUR3.5 billion (US$4.3 billion) of investment from the private sector and significant financing from EU funds by 2030. In August 2021, the European Bank for Reconstruction and Development (EBRD) granted a loan of EUR67.5 million (US$82.1 million) to improve old residential buildings’ energy performance by 40%. Moreover, the country is also set to receive EUR2.22 billion (US$2.7 million) in total by 2026, in the form of grants under the NextGenerationEU fund.
This report provides a comprehensive analysis of the construction industry in Lithuania. It provides -
To revive the country’s economy from the COVID-19 crisis, in May 2020, the government launched an economic stimulus package worth EUR6.3 billion (US$7.2 billion) - equivalent to 13% of the country’s GDP. In May 2021, the revised State budget for 2021 provided an additional EUR731.7 million (US$890.2 million), including the European Union (EU) assistance and other international financial support. Of the total, EUR581.3 million (US$707.2 million) is planned for financing COVID-19 support measures.
Over the remainder part of the forecast period, the industry is expected to register an annual average growth of 3.9% between 2022-2025, supported by investments on infrastructure, renewable energy, and residential projects. According to the energy minister Dainius Kreivys, the country will receive investments in green energy totaling EUR10 billion (US$12.2 billion), including EUR3.5 billion (US$4.3 billion) of investment from the private sector and significant financing from EU funds by 2030. In August 2021, the European Bank for Reconstruction and Development (EBRD) granted a loan of EUR67.5 million (US$82.1 million) to improve old residential buildings’ energy performance by 40%. Moreover, the country is also set to receive EUR2.22 billion (US$2.7 million) in total by 2026, in the form of grants under the NextGenerationEU fund.
The Publisher’s Construction in Lithuania - Country Briefing (H2 2021) report provides detailed market analysis, information, and insights into the Lithuanian construction industry, including -
- The Lithuanian 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 Lithuanian 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 Lithuania. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Lithuania, 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 the Publisher'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 the Publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1. Construction Outlook2. Construction Industry: At-a-Glance3. Latest News and Developments4. Project Analytics5. Construction Market Data6. Risk Profile
7. About the Publisher
List of Tables
List of Figures
