Hungary Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)
Summary
The Hungarian construction industry is expected to decline in real terms by 2% in 2025, owing to several headwinds caused by falling building permits and investment in the construction industry, coupled with political instability and a high budget deficit in the country. According to the Hungarian Central Statistical Office (KSH), the number of construction permits issued in the country declined by 4.7% YoY in 2024, preceded by an annual decline of 38.6% in 2023. In October 2024, the government reported that it is targeting a budget deficit of 3.7% of the GDP in 2025, compared to the 4.5% estimated in 2024, which is still high compared to the European Union’s (EU) target of 3%. After the suspension of 270 projects in 2022 due to the energy crisis, in December 2024, the Hungarian government announced its plan to resume those transport infrastructure and utility investments in 2025 with an investment of HUF464.9 billion ($1.3 billion). This initiative is part of the allocation of HUF8.2 trillion ($22.8 billion) earmarked for new development projects in the 2025 budget.
GlobalData expects the construction industry in Hungary to record an annual average growth rate of 4.7% between 2026 and 2029, driven by investments in the country’s transport, housing, and renewable energy infrastructure. In a recent boost to the transport infrastructure sector’s output, the Hungarian Minister for Construction and Transport János Lázár unveiled a plan in February 2025, to invest a HUF200 billion ($559.3 million) to construct a four-lane motorway stretching 40km to connect Szombathely with Körmend and Kőszeg and upgrade rail infrastructure in the country by 2035. The HUF4.9 trillion ($13.8 billion), Paks II NPP project is the second stage of the existing Paks nuclear power plant, and consists of four power units with an aggregate capacity of 2 gigawatts (GW) which will help increase the share of nuclear in Hungary’s energy mix by 2030
GlobalData’s Construction in Hungary - Key Trends and Opportunities to 2029 (H1 2025) report provides detailed market analysis, information and insights into Hungary's construction industry, including -
- Hungary'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 Hungary'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
This report provides a comprehensive analysis of the construction industry in Hungary. It provides -
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Hungary, 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
- 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 GlobalData's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
- 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: Hungary, Key Economic Indicators
- Table 3: Hungary, Commercial Construction Output by Project Type (Real % Change), 2020–29
- Table 4: Hungary, Top Commercial Construction Projects by Value
- Table 5: Hungary, Industrial Construction Output by Project Type (Real % Change), 2020–29
- Table 6: Hungary, Top Industrial Construction Projects by Value
- Table 7: Hungary, Infrastructure Construction Output by Project Type (Real % Change), 2020–29
- Table 8: Hungary, Top Infrastructure Construction Projects by Value
- Table 9: Hungary, Energy and Utilities Construction Output by Project Type (Real % Change), 2020–29
- Table 10: Hungary, Top Energy and Utilities Construction Projects by Value
- Table 11: Hungary, Institutional Construction Output by Project Type (Real % Change), 2020–29
- Table 12: Hungary, Top Institutional Construction Projects by Value
- Table 13: Hungary, Residential Construction Output by Project Type (Real % Change), 2020–29
- Table 14: Hungary, Top Residential Construction Projects by Value
- Table 15: Hungary, Key Contractors
- Table 16: Hungary, Key Consultants
- Table 17: Hungary, Construction Output Value (Real, $ Million)
- Table 18: Hungary, Construction Output Value (Nominal, HUF Billion)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Eastern Europe, Construction Output (Real % Change), 2023–29
- Figure 2: Hungary, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 3: Hungary, Risk Summary
- Figure 4: Hungary, Risk Regional Comparison
- Figure 5: Hungary, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 6: Hungary, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 7: Hungary, Construction Value Add (HUF Million, average prices of 2021)
- Figure 8: Hungary, Gross Fixed Capital Formation in Construction (HUF Million, Chain Linked Volumes 2020)
- Figure 9: Hungary, Volume Indices of the National Economy's Investments for Construction activities (Corresponding Period of the Previous Year=100)
- Figure 10: Hungary, Employment in Construction (In Thousand)
- Figure 11: Hungary, Construction Building Permits (In Numbers)
- Figure 12: Hungary, Construction Projects Momentum Index
- Figure 13: Eastern Europe, Construction Projects Momentum Index
- Figure 14: Hungary, Commercial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 15: Hungary, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: Hungary, Wholesale and Retail Trade Value Add (HUF Billion, average prices of 2021)
- Figure 17: Hungary, Accommodation and Food Services Value Add (HUF Million, average prices of 2021)
- Figure 18: Hungary, Total number of inbound trips to Hungary (In thousands) and total expenditures of inbound visitors to Hungary (In HUF Million), % Change, YoY
- Figure 19: Hungary, Commercial Building Permits (In Numbers)
- Figure 20: Hungary, Agricultural Building Permits (In Numbers)
- Figure 21: Hungary, Industrial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 22: Hungary, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 23: Hungary, Volume Indices of the National Economy's Investments for Manufacturing activities (Corresponding Period of the Previous Year=100)
- Figure 24: Hungary, Manufacturing Value Add (HUF Billion, average prices of 2021)
- Figure 25: Hungary, Total New Orders of Selected Branches of Manufacturing (at Constant Prices, Corresponding Period of Previous Year = 100), % Change YoY
- Figure 26: Hungary, Industrial Building Permits (In Numbers)
- Figure 27: Hungary, Infrastructure Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 28: Hungary, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: Hungary, Volume Indices of the National Economy's Investments for Transportation and storage activities (Corresponding Period of the Previous Year=100)
- Figure 30: Hungary, Transport and Storage Value Add (HUF Million, average prices of 2021)
- Figure 31: Hungary, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 32: Hungary, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: Hungary, Volume Indices of the National Economy's Investments for Electricity, gas, steam and air conditioning supply (Corresponding Period of the Previous Year=100), % Change YoY
- Figure 34: Hungary, Volume Indices of the National Economy's Investments for Water supply; sewerage, waste management and remediation activities (Corresponding Period of the Previous Year=100), % Change YoY
- Figure 35: Hungary, Information and Communication Services Value Add (HUF Billion, average prices of 2021)
- Figure 36: Hungary, Institutional Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 37: Hungary, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 38: Hungary, Volume Indices of the National Economy's Investments for Education (Corresponding Period of the Previous Year=100), % Change YoY
- Figure 39: Hungary, Volume Indices of the National Economy's Investments for Human Health and Social Work Activities (Corresponding Period of the Previous Year=100), % Change YoY
- Figure 40: Hungary, Health Value Add (HUF million, average prices of 2021)
- Figure 41: Hungary, Education Value Add (HUF million, average prices of 2021)
- Figure 42: Hungary, Residential Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 43: Hungary, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 44: Hungary, Real Value Add (HUF million, average prices of 2021)
- Figure 45: Hungary, Volume Indices of the National Economy's Investments for real estate activities (Corresponding Period of the Previous Year=100)
- Figure 46: Hungary, Construction Permits Issued for Residential Buildings (In Number)
- Figure 47: Hungary, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 48: Hungary, Headquarters of Key Consultants (% of Total Project Pipeline)
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