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Belgium Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Publisher GlobalData
Published Jul 31, 2023
Length 47 Pages
SKU # GBDT18180167

Description

Belgium Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027


Summary

GlobalData expects Belgium’s construction industry to shrink by 1.2% in real terms in 2023, owing to headwinds caused by high interest rates and construction costs, and a fall in the number of new building licenses authorized. According to the Belgian statistical office (STATBEL), the total number of new building permits issued in the country declined by 16.1% year on year (YoY) in the first three months of 2023, falling from 9,914 in Q1 2022 to 8,320 in Q1 2023. This decline is attributed to a fall in permits issued for both non-residential (-16.9% YoY) and residential (-15.9% YoY) buildings.

Output will remain sluggish in 2024 given ongoing weakness in the residential sector before regaining growth momentum from 2025, supported by the government’s focus on the development of the energy and transport infrastructure sectors. As part of the National Energy-Climate Plan 2021-2030, the government aims to increase the share of renewable energy in its total gross fixed energy consumption from 13% in 2020 to 17.5% by 2030. Additionally, the government also plans to reduce its non-ETS greenhouse gas emissions (all greenhouse gas emissions that are not from companies in the ETS - Emissions Trading System) by 35% by 2023 compared to the 2005 levels. To achieve this target, the government aims to establish 5.8GW of offshore wind capacity by 2030 and 8GW by 2040. It also plans to develop hybrid renewable energy projects, in collaboration with Denmark. Belgium will receive EUR3 billion ($3.1 billion) in Cohesion Policy funding from the European Union (EU), from 2021 to 2027, to accelerate its green and digital transition.

This report provides detailed market analysis, information, and insights into Belgium’s construction industry, including -
  • Belgium’s 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 Belgium’s 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 Belgium. It provides -
  • Historical (2018–2022) and forecast (2023–2027) valuations of the construction industry in Belgium, 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 GlobalData's 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 GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

Table of Contents

47 Pages
1 Executive Summary
2 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
8 About GlobalData
9 Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Belgium, Key Economic Indicators
Table 3: Belgium, Commercial Construction Output by Project Type (Real % Change), 2018–27
Table 4: Belgium, Top Commercial Construction Projects by Value
Table 5: Belgium, Industrial Construction Output by Project Type (Real % Change), 2018–27
Table 6: Belgium, Top Industrial Construction Projects by Value
Table 7: Belgium, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
Table 8: Belgium, Top Infrastructure Construction Projects by Value
Table 9: Belgium, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
Table 10: Belgium, Top Energy and Utilities Construction Projects by Value
Table 11: Belgium, Institutional Construction Output by Project Type (Real % Change), 2018–27
Table 12: Belgium, Top Institutional Construction Projects by Value
Table 13: Belgium, Residential Construction Output by Project Type (Real % Change), 2018–27
Table 14: Belgium, Top Residential Construction Projects by Value
Table 15: Belgium, Key Contractors
Table 16: Belgium, Key Consultants
Table 17: Belgium, Construction Output Value (Real, $ Million)
Table 18: Belgium, Construction Output Value (Nominal, EUR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2021–27
Figure 2: Belgium, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
Figure 3: Belgium, Risk Summary
Figure 4: Belgium, Risk Western Europe Comparison
Figure 5: Belgium, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018–27
Figure 6: Belgium, Construction Output Value, by Sector (Real, $ Million), 2018–27
Figure 7: Belgium, Construction Value Add (EUR Million, 2015 Chained Prices)
Figure 8: Belgium, Construction Production Index (2015=100)
Figure 9: Belgium, Gross Fixed Capital Formation (EUR Million), 2015 Chained Prices, Working Day and Seasonally Adjusted
Figure 10: Belgium, Total Number of New Building Permits Issued
Figure 11: Belgium, Construction Cost Index (2015=100)
Figure 12: Belgium, Number of Unemployed Jobseekers (In Thousands)
Figure 13: Belgium, Construction Projects Momentum Index
Figure 14: Western Europe, Construction Projects Momentum Index
Figure 15: Belgium, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
Figure 16: Belgium, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 17: Belgium, Retail Trade Turnover Value Index (2015=100)
Figure 18: Belgium, Wholesale and Retail Trade, Transport, Accommodation and Food Service Activities Value Add (EUR Million, 2015 Chained Prices)
Figure 19: Belgium, Total Tourist Arrivals (In Thousands)
Figure 20: Belgium, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
Figure 21: Belgium, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 22: Belgium, Industrial and Manufacturing Production Indices, Seasonally Adjusted, 2015=100
Figure 23: Belgium, Total Export (EUR Million)
Figure 24: Belgium, Manufacturing Value-add (EUR Million, 2015 Chained Prices)
Figure 25: Belgium, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
Figure 26: Belgium, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: Belgium, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
Figure 28: Belgium, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Belgium, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
Figure 30: Belgium, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Belgium, Human Health and Social Work Activities Value Add (EUR Million, 2015 Chained Prices)
Figure 32: Belgium, Residential Construction Output by Project Type (Real, $ Million), 2018–27
Figure 33: Belgium, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Belgium, Real Estate Activities Value Add (EUR Million, 2015 Chained Prices)
Figure 35: Belgium, Total Number of Dwelling Permits Issued
Figure 36: Belgium, Housing Price Index (2015=100)
Figure 37: Belgium, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 38: Belgium, Headquarters of Key Consultants (% of Total Project Pipeline)

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