The publisher expects the construction industry in Finland to shrink by 1.8% in real terms in 2024, owing to weak investor and consumer confidence amid high inflation, interest rates, and construction costs, coupled with a fall in building permits issued in the country. According to the preliminary data released by Statistics Finland, the average construction cost index rose by 3.2% year on year (YoY) in the first eleven months of 2023, following a rise of 8.2% in 2022.
Over the remainder of the forecast period, the construction industry is however expected to rebound from 2025, assuming an improvement in wider economic stability, with the construction industry to register an average growth rate of 2.5% from 2025 to 2028, supported by investments in the transport and renewable energy construction projects. Under the National Transport System Plan for 2021-2032, the government plans to spend EUR6.1 billion ($6.2 billion) to upgrade the country’s transport infrastructure over the 12-year period, with EUR3.4 billion ($3.5 billion) spending towards new infrastructure development projects. As part of the Finnish government’s fiscal plan for 2023-26, the Ministry of Economic Affairs and Employment allocated EUR1.9 billion ($1.9 billion) in mid-2023 to promote energy efficiency and renewable energy projects in order to attain its energy efficiency target by 2030.
The Construction in Finland - Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information, and insights into the Finnish construction industry, including -
Over the remainder of the forecast period, the construction industry is however expected to rebound from 2025, assuming an improvement in wider economic stability, with the construction industry to register an average growth rate of 2.5% from 2025 to 2028, supported by investments in the transport and renewable energy construction projects. Under the National Transport System Plan for 2021-2032, the government plans to spend EUR6.1 billion ($6.2 billion) to upgrade the country’s transport infrastructure over the 12-year period, with EUR3.4 billion ($3.5 billion) spending towards new infrastructure development projects. As part of the Finnish government’s fiscal plan for 2023-26, the Ministry of Economic Affairs and Employment allocated EUR1.9 billion ($1.9 billion) in mid-2023 to promote energy efficiency and renewable energy projects in order to attain its energy efficiency target by 2030.
The Construction in Finland - Key Trends and Opportunities to 2028 (H1 2024) report provides detailed market analysis, information, and insights into the Finnish construction industry, including -
- The Finnish 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 Finnish 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 Finland. It provides -- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Finland, 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 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 critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures