The industry is expected to register an average annual growth of 3.2% from 2027 to 2030, supported by investments in transport and renewable energy infrastructure projects.
The government aims to reduce greenhouse gas emissions by 65%, compared to 1990 levels, by 2030 and achieve climate neutrality by 2050. To support this target, Latvia plans to increase the capacity of renewable energy infrastructure across the country. Recently, in October 2025, the European Bank for Reconstruction and Development (EBRD), announced its plan to provide a EUR32 million ($34.9 million) loan for the development of 112MW Smiltene wind farm in northern Latvia. The project is part of the larger EUR92 million ($100.5 million) co-financed package with Luminor Bank, which is an Estonia based Bank, and the Nordic Investment Bank, which is a Finland based financial institution. The construction works are expected to be completed by early 2027. The investment strengthens Latvia’s energy security, advances its green transition, and aligns with its goal of 80% renewable electricity by 2030, while contributing to Baltic regional energy integration.
The Construction in Latvia - Country Briefing (H1 2026) report provides detailed market analysis, information, and insights into the Latvian construction industry, including:
- The Latvian 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 Latvian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Report Scope
This report provides a comprehensive analysis of the construction industry in Latvia. It provides:
- Historical (2021-2025) and forecast (2026-2030) valuations of the construction industry in Latvia, 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

