Europe Construction Market Report and Forecast 2023-2028

According to the report, the Europe construction market attained a value of USD 3019.39 billion in 2022. Aided by the increasing demand for sustainable building materials, advancements in construction technology, and various government initiatives, the market is projected to grow at a CAGR of 3.5% between 2023 and 2028 to reach a value of USD 3733.10 billion by 2028.

The construction sector in Europe encompasses the planning, design, and development of various infrastructure projects, such as residential and commercial buildings, roads, bridges, and other public and private structures. The industry plays a crucial role in the European economy, contributing significantly to the region's GDP, job creation, and overall development. The growing demand for sustainable building materials is a key factor driving the growth of the Europe construction market. With the increasing awareness of the environmental impact of conventional construction materials and methods, there is a shift towards eco-friendly alternatives, such as green cement, recycled aggregate, and prefabricated construction components. This trend is expected to fuel the growth of the construction market in the coming years.

Advancements in construction technology are another significant factor propelling the growth of the Europe construction market. The adoption of innovative technologies, such as Building Information Modelling (BIM), 3D printing, and drone surveying, has resulted in more efficient and cost-effective construction processes. These technological advancements help the industry meet the increasing demand for high-quality, sustainable, and affordable infrastructure projects, further boosting the growth of the Europe construction market.

Various government initiatives aimed at improving the infrastructure landscape across Europe are also contributing to the growth of the construction market. In addition, government-backed affordable housing programs and urban development projects are also supporting the growth of the construction market. The increasing demand for energy-efficient buildings is another trend shaping the Europe construction market. With stringent energy-efficiency regulations in place and the growing awareness of the benefits of energy-efficient buildings, the construction sector is focusing on the development of energy-efficient and sustainable designs.

Moreover, the rapid urbanisation and population growth in various European countries are also positively impacting the construction market. The rising demand for housing, commercial spaces, and public infrastructure to accommodate the growing urban population is driving the need for construction services. This demand is further fuelled by the increasing disposable income and the improving standard of living in the region, resulting in the growth of the Europe construction market. The construction market in Europe is also benefiting from the increasing focus on the renovation and refurbishment of existing infrastructure. With many European cities featuring historical and aging infrastructure, there is a growing need for restoration and modernisation projects to maintain and improve these structures. This focus on the renovation of existing buildings and infrastructure further supports the growth of the construction market in the region.

Market Segmentation

The market can be divided on the basis of end use, residential buildings and single units, and country.

Market Breakup by End Use:

Residential

Breakup by Residential Type

• Private Housing
• Other Buildings and Single Units
• Healthcare
• Hospitality
• Others

Market Division by Residential Buildings and Single Units:

• Apartments/Flats
• Detached Houses
• Semi-Detached
• Terraced Houses
• Others

Market Segregation by Country:

• Germany
• United Kingdom
• France
• Italy
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Europe construction companies. Some of the major key players explored in the report are as follows:

• VINCI SA
• ACS Group
• Skanska AB
• Bouygues Construction
• Hochtief AG
• Eiffage S.A
• STRABAG International GmbH
• Balfour Beatty plc
• Ferrovial S.A
• Acciona, SA
• Others

*The publisher always strives to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.