Finland Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H2 2025)

The analyst expects the construction industry in Finland to expand in real terms by 2.6% in 2025, supported by investments in renewable energy, transportation, industrial and housing projects, following an annual decline of 8.4% in 2024. In May 2025, the Finnish government submitted its second supplementary budget proposal for 2025 to the parliament, which focuses on transport investments, civil defense upgrades, emergency warning systems, and strengthening the Finnish Border Guard's maritime capabilities. The second supplementary budget will raise government spending by EUR757 million ($824.8 million) and reduce revenues by EUR187 million ($203.8 million), resulting an increase in a net borrowing by EUR944 million ($1 billion). This brings the projected net borrowing for 2025 to EUR13.2 billion ($14.4 billion). This second supplementary budget is followed by a first supplementary budget, which was announced in February 2025.

Over the remainder of the forecast period, the construction industry is expected to register an annual average growth of 3.5% between 2026-2029, supported by the government’s focus on the development of transport infrastructure, as well as energy and utilities construction projects. In March 2025, the Finnish Parliament approved a new tax credit to support large green industrial construction projects. To qualify, a company must invest at least EUR50 million ($54.5 million), and the project must support the green transition. The tax credit is 20% of the eligible costs and can be used to reduce corporate taxes over time, starting from the year the construction is finished and continuing between 2028 and 2047, with a yearly cap of 10%.

The Construction in Finland - Key Trends and Opportunities to 2029 (H2 2025) 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 (2020-2024) and forecast (2025-2029) 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 our 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 business strategies using the analyst's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

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 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

About the Analyst
Contact the Publisher

List of Tables

Table 1: Construction Industry Key Data
Table 2: Finland, Key Economic Indicators
Table 3: Finland, Commercial Construction Output by Project Type (Real % Change), 2020-29
Table 4: Finland, Top Commercial Construction Projects by Value
Table 5: Finland, Industrial Construction Output by Project Type (Real % Change), 2020-29
Table 6: Finland, Top Industrial Construction Projects by Value
Table 7: Finland, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
Table 8: Finland, Top Infrastructure Construction Projects by Value
Table 9: Finland, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
Table 10: Finland, Top Energy and Utilities Construction Projects by Value
Table 11: Finland, Institutional Construction Output by Project Type (Real % Change), 2020-29
Table 12: Finland, Top Institutional Construction Projects by Value
Table 13: Finland, Residential Construction Output by Project Type (Real % Change), 2020-29
Table 14: Finland, Top Residential Construction Projects by Value
Table 15: Finland, Key Contractors
Table 16: Finland, Key Consultants
Table 17: Finland, Construction Output Value (Real, $ Million)
Table 18: Finland, Construction Output Value (Nominal, EUR Million)
Table 19: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions

List of Figures

Figure 1: Western Europe, Construction Output (Real % Change), 2023-29
Figure 2: Finland, Construction Output by Sector (Real % Change), 2023-25 and 2026-29
Figure 3: Finland, Risk Summary
Figure 4: Finland, Risk Regional Comparison
Figure 5: Finland, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020-29
Figure 6: Finland, Construction Output Value, by Sector (Real, $ Million), 2020-29
Figure 7: Finland, Construction Value-add (EUR Million, 2020 Constant Prices)
Figure 8: Finland, Gross Fixed Capital Formation (EUR Million, 2020 Constant Prices)
Figure 9: Finland, Construction Turnover Index (2021=100)
Figure 10: Finland, Construction Production Index (2021=100)
Figure 11: Finland, Employment in the Construction Industry
Figure 12: Finland, Labor Cost index (2021=100)
Figure 13: Finland, Building Cost Index (2021=100)
Figure 14: Finland, Producer Price Indices of Concrete, Plaster and Cement Products (2021=100)
Figure 15: Finland, Total Building Permits Issued (Unit, Number)
Figure 16: Finland, Construction Projects Momentum Index
Figure 17: Western Europe, Construction Projects Momentum Index
Figure 18: Finland, Commercial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 19: Finland, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: Finland, Total Tourist Arrivals (In Numbers)
Figure 21: Finland, Total Overnight Stays (In Numbers)
Figure 22: Finland, Commercial and Office Building Permits Issued (Unit, Number)
Figure 23: Finland, Warehouse Building Permits Issued (Unit, Number)
Figure 24: Finland, Agricultural Building Permits Issued (Unit, Number)
Figure 25: Finland, Accommodation and Food Service Activities Value-add (EUR Million, 2020 Constant Prices)
Figure 26: Finland, Industrial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 27: Finland, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Finland, Manufacturing Turnover Index (2021=100)
Figure 29: Finland, Manufacturing Value-add (EUR Million, 2020 Constant Prices)
Figure 30: Finland, Industrial Production Index (2021=100)
Figure 31: Finland, Industrial Building Permits Issued (Unit, Number)
Figure 32: Finland, New Orders for Manufacturing Index (2021=100)
Figure 33: Finland, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
Figure 34: Finland, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 35: Finland, Cost index of civil engineering works (2015=100)
Figure 36: Finland, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
Figure 37: Finland, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 38: Finland, Information and Communication Value-add (EUR Million, 2020 Chain linked volumes)
Figure 39: Finland, Total Public utility building Permits (Unit, Number)
Figure 40: Finland, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
Figure 41: Finland, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 42: Finland, Education Value-add (EUR Million, 2020 chained prices)
Figure 43: Finland, Institutional Building Permits (Unit, Number)
Figure 44: Finland, Educational Building Permits (Unit, Number)
Figure 45: Finland, Total Assembly Building Permits (Unit, Number)
Figure 46: Finland, Total Rescue Service Building Permits (Unit, Number)
Figure 47: Finland, Residential Construction Output by Project Type (Real, $ Million), 2020-29
Figure 48: Finland, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 49: Finland, Real Estate Value-add (EUR Million, 2020 Constant Prices)
Figure 50: Finland, Gross Fixed Capital Formation on Dwellings (EUR Million, 2020 Constant Prices)
Figure 51: Finland, Residential Building Permits Issued (Unit, Number)
Figure 52: Finland, Residential Building Cost Index (2021=100)
Figure 53: Finland, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 54: Finland, Headquarters of Key Consultants (% of Total Project Pipeline)

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The Construction in Finland - Key Trends and Opportunities to 2029 (H2 2025) report provides detailed market analysis, information, and insights into the Finnish construction industry, including:

Scope

This report provides a comprehensive analysis of the construction industry in Finland. It provides:

Reasons to Buy

Table of Contents

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