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Construction in Norway - Key Trends and Opportunities to 2025 (H2 2021)

  • ID: 5505050
  • Report
  • November 2021
  • Region: Norway
  • 50 Pages
  • GlobalData
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The Norwegian construction industry is projected to grow by 2.4% in real terms in 2021, following a contraction of 3.3% in 2020. The industry's growth is primarily attributed to the easing of COVID-19 restrictions and an improvement in housing construction during the first half of 2021. According to Statistics Norway, the construction industry grew by 1.4% year on year (YoY) in the first half of 2021, based on the real value-add measure.

Over the forecast period, the industry is expected to register an annual average growth of 2.1% from 2022 to 2025. A key source of growth will be the government’s focus on upgrading the country’s transport infrastructure. In September 2021, the Sotra Link consortium secured a NOK19.8 billion (US$2.3 billion) contract from the Norwegian Public Roads Administration to build and operate a network of highway assets in western Norway. The government also proposed an investment of NOK84.6 billion (US$9.9 billion) towards infrastructure improvements and renewable energy projects in the 2022 Budget.

The government’s focus on renewable energy is also expected to support the industry’s output over the forecast period. Under the “green transition package” announced in June 2020, the government plans to spend NOK3.6 billion (US$382.4 million) to develop the country’s renewable energy infrastructure by 2023. The government's plan to invest over NOK7.3 billion (US$849.3 million) on health and NOK2.5 billion (US$290.9 million) on education, as outlined in the 2022 Budget, will support institutional buildings construction growth over the next two years. In addition, the government's initiatives to expand the labor market, as well as its focus on investing NOK8.6 billion (US$1 billion) in business-oriented research and innovation, will help to generate growth momentum over the forecast period.

The publisher’s Construction in Norway - Key Trends and Opportunities to 2025 (H2 2021) 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.

Scope

This report provides a comprehensive analysis of the construction industry in Norway. It provides -
  • Historical (2016-2020) and forecast (2021-2025) 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 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.
Note: Product cover images may vary from those shown

1 Executive Summary2 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 The Publisher Construction
Contact The Publisher
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), 2016-2025
Table 4: Norway, Top Commercial Construction Projects by Value
Table 5: Norway, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Norway, Top Industrial Construction Projects by Value
Table 7: Norway, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: Norway, Top Infrastructure Construction Projects by Value
Table 9: Norway, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: Norway, Top Energy and Utilities Construction Projects by Value
Table 11: Norway, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: Norway, Top Institutional Construction Projects by Value
Table 13: Norway, Residential Construction Output by Project Type (Real % Change), 2016-2025
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, US$ Million)
Table 18: Norway, Construction Output Value (Nominal, NOK Million)
Table 19: The Publisher 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 and 2021
Figure 2: Norway, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Norway, COVID-19 Confirmed Cases
Figure 4: Norway, Risk Summary
Figure 5: Norway, Risk Regional Comparison
Figure 6: Norway, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: Norway, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: Norway, Construction Value Add (NOK Million, 2017 Constant Prices), % Change YoY
Figure 9: Norway, Average Construction Production Index (2015=100), % Change YoY
Figure 10: Norway, Construction Projects Momentum Index
Figure 11: Western Europe, Construction Projects Momentum Index
Figure 10: Norway, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 11: Norway, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 12: Norway, Total Number of Tourist Arrivals (In Thousands), % Change YoY
Figure 15: Norway, Service Sector Turnover Index (2015=100), % Change YoY
Figure 16: Norway, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 17: Norway, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 21: Norway, Total Manufacturing Investments (NOK, Million), % Change YoY
Figure 18: Norway, Manufacturing Value Add (NOK Million, 2017 Constant Prices), % Change YoY
Figure 13: Norway, Manufacturing Production Index (2005=100), % Change YoY
Figure 14: Norway, Total Export Value (NOK, Million), % Change YoY
Figure 22: Norway, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 23: Norway, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: Norway, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 25: Norway, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: Norway, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 27: Norway, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: Norway, Education Value Add (NOK Million, 2017 Constant Prices), % Change YoY
Figure 29: Norway, Health and Social Work Value Add (NOK Million, 2017 Constant Prices), % Change YoY
Figure 30: Norway, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: Norway, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: Norway, Total Number of Dwelling Started (Unit, Number), % Change YoY
Figure 32: Norway, Total Number of Dwelling Completed (Unit, Number), % Change YoY
Figure 33: Norway, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 34: Norway, Headquarters of Key Consultants (% of Total Project Pipeline)
Note: Product cover images may vary from those shown