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

Publisher GlobalData
Published Apr 27, 2023
Length 26 Pages
SKU # GBDT17999825

Description

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


Summary

Following an annual growth of 1.3% in real terms in 2022, the construction industry in Lithuania is expected to shrink marginally by 0.5% in 2023, owing primarily to subdued investor and consumer confidence amid rise in overall inflation and construction costs, rising interest rates and supply chain disruptions. According to Oficialiosios Statistikos Portalas (OSP), the average construction inputs price index grew by 13.1% year on year (YoY) in the first two months of 2023, preceded by annual growth of 18.4% in 2022. The industry’s output in 2023 will also be affected by a decline in business confidence. According to the OSP, the country’s business confidence index fell by 15.7% YoY in the first three months of 2023, preceded by an annual fall of 15.4% in 2022.

Over the remainder of the forecast period, the construction industry is expected to register an average annual growth rate of 4.9% from 2024 to 2027, supported by investments in transport and renewable energy infrastructure projects. According to the energy minister Dainius Kreivys, the country will receive EUR10 billion ($10.2 billion) in green energy investments by 2030, including EUR3.5 billion ($3.6 billion) from the private sector and significant financing from European Union (EU) funds. In June 2022, the Ministry of Energy signed an agreement with Pajrio tyrim ir planavimo institutas, a Lithuanian research institute to launch its first international auction in 2023, providing a volume of 3TWh of green energy annually and covering 25% of Lithuania's energy demand by as early as 2028. Furthermore, the growth in the construction industry will be aided by the European Commission’s EUR565 million ($577 million) grants and EUR3 billion ($3.1 billion) loan in late-February 2023, under the Recovery and Resilience Facility (RRF), with the first payment likely to be disbursed in May 2023. However, the rising uncertainty over looming global recession, higher cost of mortgage loans, decreased housing affordability and negative economic outlook are likely to put downward pressure on the debt financing, which will further stifle investment in construction.

The report provides detailed market analysis, information and insights into the Lithuanian construction industry, including -
  • The Lithuanian 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 Lithuanian 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 Lithuania. It provides -
  • Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Lithuania, 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

26 Pages
1. Construction Outlook
2. Construction Industry: At-a-Glance
3. Latest News and Developments
4. Project Analytics
5. Construction Market Data
6. Risk Profile
7. About GlobalData
7.1 Definitions
7.2 CRI Methodology
List of Tables
Table 1: Construction Industry Key Data
Table 2: Lithuania, Top Construction Projects by Value
Table 3: Lithuania, Construction Output Value (Real, $ Million)
Table 4: Lithuania, 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: Lithuania, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018-27
Figure 2: Lithuania, Construction Output Value, by Sector (Real, $ Million), 2018-27
Figure 3: Eastern Europe and Central Asia, Construction Output (Real % Change), 2021-27
Figure 4: Lithuania, Construction Output by Sector (Real % Change), 2021-23 and 2024-27
Figure 5: Lithuania, Construction Value Add, In 2015 Chain-Linking Method, EUR Million
Figure 6: Lithuania, Value of Construction Work Done Within the Country, In Current Prices, % Change YoY
Figure 7: Lithuania, Gross Fixed Capital Formation, In Chain-Linked Volume Measures, EUR Million
Figure 8: Lithuania, Floor Area of New Buildings Started, In Thousand m2
Figure 9: Lithuania, Floor Area of New Office Buildings Started, In Thousand m2
Figure 10: Lithuania, Floor Area of Permits Granted for New Office Buildings, In Thousands m2
Figure 11: Lithuania, Manufacturing Value Add, In 2015 Chain-Linking Method, EUR Million
Figure 12: Lithuania, Industrial and Manufacturing Production, in 2015 Constant Prices, in EUR Million
Figure 13: Lithuania, Exports, in EUR Million
Figure 14: Lithuania, Value Add of Real Estate Activities, In 2015 Chain-Linking Method, EUR Million
Figure 15: Lithuania, House Price Index (HPI), 2015=100
Figure 16: Lithuania, Number of Dwellings Completed
Figure 17: Lithuania, Number of Dwelling Permits
Figure 18: Lithuania, Number of Dwellings Started
Figure 19: Lithuania, Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: Lithuania, Risk Summary
Figure 21: Lithuania, Risk Regional Comparison

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