The analyst forecasts that the Norwegian construction industry to expand in real terms by 1.6% in 2026, driven by investments in infrastructure and energy construction projects. The government in late June 2026, announced funding of NOK1.3 billion ($130 million) for the construction of ten zero-emission vessels, increasing the total to 22 such vessels already under construction as of late June 2026. In addition, the local government of Vestland approved the Atløysambandet project in mid-June 2026, involving an investment of NOK2 billion ($195.4 million). The project includes the construction of three bridges and a road within the state. Earlier, in January 2026, local battery service provider, Elinor Batteries disclosed plans to develop a battery factory in Trondheim, with an estimated phased investment of NOK10 billion ($976.7 million). The first phase is expected to be completed in 2026. Nevertheless, the ongoing war in the middle eastern region, together with elevated inflation, unfavorable interest rates, and labor shortages, may negatively impact Norway’s construction industry in the short term. According to Statistics Norway, inflation rose by 0.2% in May 2026 to reach 3%, remaining well above the Central Bank’s 2% inflation target.
Over the remainder of the forecast period, the construction industry is expected to record an annual average growth rate of 3.7% from 2027 to 2030, supported by investments in transport and oil and gas infrastructure, along with energy projects in line with the government’s target of reaching net zero carbon emissions by 2030, compared to 1991 levels. To support this, in November 2025, Statnett, Norway’s state-owned power transmission operator, announced its plan to invest between NOK150-200 billion ($13.8-18.4 billion) in the national grid by 2035. Half of this funding will be used for the upgrade of transmission lines from 300kV to 420kV, while other funds will be used for the development of new substations in urban and industrial areas. Also, in May 2026, local energy company, Statkraft announced a planned investment of NOK80 billion ($7.8 billion), over the next ten years to be used towards the maintenance and construction of hydropower plants. Growth over the forecast period will also be supported by the National Transport Plan (NTP) 2025-36. This plan includes an allocation of NOK574 billion ($50.4 billion) for national roads, NOK65 billion ($6 billion) for county roads, NOK436 billion ($40.2 billion) for railway, NOK34 billion ($3.1 billion) for coastal administration and maritime infrastructure, and NOK5.5 billion ($506.7 million) for airport infrastructure by 2036.
Over the remainder of the forecast period, the construction industry is expected to record an annual average growth rate of 3.7% from 2027 to 2030, supported by investments in transport and oil and gas infrastructure, along with energy projects in line with the government’s target of reaching net zero carbon emissions by 2030, compared to 1991 levels. To support this, in November 2025, Statnett, Norway’s state-owned power transmission operator, announced its plan to invest between NOK150-200 billion ($13.8-18.4 billion) in the national grid by 2035. Half of this funding will be used for the upgrade of transmission lines from 300kV to 420kV, while other funds will be used for the development of new substations in urban and industrial areas. Also, in May 2026, local energy company, Statkraft announced a planned investment of NOK80 billion ($7.8 billion), over the next ten years to be used towards the maintenance and construction of hydropower plants. Growth over the forecast period will also be supported by the National Transport Plan (NTP) 2025-36. This plan includes an allocation of NOK574 billion ($50.4 billion) for national roads, NOK65 billion ($6 billion) for county roads, NOK436 billion ($40.2 billion) for railway, NOK34 billion ($3.1 billion) for coastal administration and maritime infrastructure, and NOK5.5 billion ($506.7 million) for airport infrastructure by 2036.
The Construction in Norway - Key Trends and Opportunities to 2030 (H1 2026) 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 (2021-2025) and forecast (2026-2030) 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 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
