Belgium Construction Market Size, Trends and Forecast by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Construction, 2022-2026

Belgium Construction Market Size, Trends and Forecast by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Construction, 2022-2026

Summary

The Belgian construction industry expanded by an estimated 7.8% in real terms in 2021 - up from an annual decline of 4.9% in 2020. The industry’s output in 2021 was supported by investments in renewable energy, residential, and commercial infrastructure projects. According to the National Bank of Belgium (NBB), the construction industry’s value add expanded by 9.6% year on year (YoY) in the first three quarters of 2021. However, the rise in COVID-19 infections and the subsequent tightening of restrictions are expected to have affected the economy in late 2021.

GlobalData expects the industry to expand by 2.5% this year, before recording an annual average growth rate of 2.2% during the period of 2023-2026, supported by higher public spending in infrastructure and clean energy projects. In October 2021, the government announced its plans to expand the offshore wind capacity in the North Sea region to 3.5GW, from an initial capacity of 1.7GW.

The industry’s output over the forecast period will also be supported by investments in renewable energy, residential, and commercial infrastructure projects. In September 2021, the European Union (EU) Commission announced funding of EUR5.9 billion ($7 billion) for Belgium's recovery and resilience plan. The plan supports green transition through investments of over EUR1 billion ($1.2 billion) in the energy-efficient renovation of buildings, including social housing; it also includes an investment of EUR1.3 billion ($1.5 billion) on improving railway infrastructure, financing green public buses, deploying electric charging stations, developing urban public transport, and creating cycling pathways.

This report provides detailed market analysis, information and insights into the Belgian construction industry, including -

• The Belgian 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 Belgian 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 (2017-2021) and forecast (2022-2026) 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.