
Latvia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)
Description
Latvia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)
Summary
GlobalData’s Construction in Latvia - Country Briefing (H1 2025) report provides detailed market analysis, information and insights into the Latvian construction industry, including -
The industry is further expected to register an average annual growth of 3.7% from 2026 to 2029, supported by investments in transport and renewable energy 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 is focusing on increasing the capacity of renewable energy across the country. In September 2024, Latvenergo acquired a Latvian energy company Laflora Energy to build a 108.8MW wind farm at a former peat mining site in Līvbērze, with construction cost estimated at EUR185 million ($196.7 million). The project will feature 16 wind turbines of 6.8MW each. Construction is scheduled to be completed by 2026
Scope
This report provides a comprehensive analysis of the construction industry in Latvia.It provides -
Summary
GlobalData’s Construction in Latvia - Country Briefing (H1 2025) 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
The industry is further expected to register an average annual growth of 3.7% from 2026 to 2029, supported by investments in transport and renewable energy 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 is focusing on increasing the capacity of renewable energy across the country. In September 2024, Latvenergo acquired a Latvian energy company Laflora Energy to build a 108.8MW wind farm at a former peat mining site in Līvbērze, with construction cost estimated at EUR185 million ($196.7 million). The project will feature 16 wind turbines of 6.8MW each. Construction is scheduled to be completed by 2026
Scope
This report provides a comprehensive analysis of the construction industry in Latvia.It provides -
- Historical (2020-2024) and forecast (2025-2029) 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
- 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
Table of Contents
30 Pages
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Latest news and developments
- 4 Project analytics
- 5 Construction Market Data
- 6 Risk Profile
- 7 Appendix
- 7.1 Definitions
- 7.2 CRI Methodology
- 7.3 About GlobalData
- 8 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Latvia, Top Construction Projects by Value
- Table 3: Latvia, Construction Output Value (Real, $ Million)
- Table 4: Latvia, Construction Output Value (Nominal, EUR Million)
- Table 5: GlobalData Construction Market Definitions
- Table 6: Risk Dimensions
- Table 7: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Latvia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 2: Latvia, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 3: Eastern Europe and Central Asia, Construction Output (Real % Change), 2023–29
- Figure 4: Latvia, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 5: Latvia, Construction Value Add (Constant 2020 Prices, EUR Million)
- Figure 6: Latvia, Volume of Construction Output, In Current Prices, % Change YoY
- Figure 7: Latvia, Number of Permits Issued for Office Buildings
- Figure 8: Latvia, Number of Permits Issued for Hotels, Wholesale, and Retail Buildings
- Figure 9: Latvia, Non-Resident Visitor Arrivals, In Thousands
- Figure 10: Latvia, Value Add of Accommodation, Food Services, Arts, Entertainment, and Recreation Activities, in Constant 2020 Prices, % Change YoY
- Figure 11: Latvia, Manufacturing Value Add (Constant 2020 Prices, EUR Million)
- Figure 12: Latvia, Total Exports, In EUR Million
- Figure 13: Latvia, Industrial and Manufacturing Production Volume Indices, 2021=100, Seasonally Adjusted Data, % Change YoY
- Figure 14: Latvia, Volume of Construction Output of Roads and Railways (Current Prices)
- Figure 15: Latvia, Volume of Construction of Utility Projects for Electricity and Telecommunications, In Current Prices
- Figure 16: Latvia, Total Gross Electricity Production and Electricity Consumption, in Million Kwh
- Figure 17: Latvia, Value Add of Education, Health, and Social Care Services, In Constant 2020 Prices, % Change YoY
- Figure 18: Latvia, Value Add of Real Estate Activities (Constant 2020 Prices, EUR Million)
- Figure 19: Latvia, Number of Permits Approved for Residential Buildings
- Figure 20: Latvia, New Business Loans to Households for House Purchase, In EUR Million
- Figure 21: Latvia, House Price Index (HPI), 2015=100
- Figure 22: Latvia, Construction Cost Index for New Residential Buildings, 2021=100
- Figure 23: Latvia, Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 24: Latvia, Risk Summary
- Figure 25: Latvia, Risk Regional Comparison
Pricing
Currency Rates
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