Lithuania Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
Description
Lithuania Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
Summary
The Lithuanian construction industry is expected to expand by 3.2% in real terms in 2022, following a marginal annual growth of 0.2% in 2021. Growth this year will be aided by the government's expenditure on transportation and energy infrastructure, combined with the recovery of the tourism sector. In December 2021, the government approved the 2022 Budget, which includes an annual expenditure of EUR16.6 billion ($18.7 billion), representing a 15.6% increase over the expenditure of EUR12.4 billion ($14 billion) in 2021. As part of the latest Budget, the government allocated EUR193.9 million ($218.7 million) to the energy sector, EUR958.6 million ($1.1 billion) to education, and EUR3 billion ($3.4 billion) to healthcare. Furthermore, the Ministry of Transport approved the Strategic Guidelines for National Road Maintenance and Development for 2022-35 in July 2022, with the goal of improving traffic conditions and safety, while also promoting sustainable mobility through various roadway infrastructure initiatives. This is expected to attract investments in road infrastructure projects over the coming years. Despite maintaining its growth momentum, the Lithuanian construction industry is expected to face significant downside risks in the short term, due to rising inflation, increasing construction material costs, rising house prices, supply side disruptions to industrial output, and the recent surge in coronavirus (COVID-19) cases. On July 28, 2022, the country experienced a 33% increase in weekly changes of daily COVID-19 cases and an 117% increase in weekly fatalities.
Over the forecast period, the industry is expected to register an annual average growth of 4.1% from 2023 to 2026, supported by investments on transport infrastructure, renewable energy, and residential projects. According to the Energy Minister Dainius Kreivys, the country will receive EUR10 billion ($11.3 billion) in green energy investments by 2030, including EUR3.5 billion ($3.9 billion) from the private sector, as well as significant financing from the EU. In June 2022, the Ministry of Energy signed an agreement with Pajrio Tyrim ir Planavimo Institutas—a Lithuanian research institute—to evaluate the performance of the environmental impact assessment of wind turbines and launch its first international auction for the construction of a 700MW wind farm in 2023. The wind farm will provide 3TWh of green energy annually and cover 25% of Lithuania's energy demand by as early as 2028.
The report provides detailed market analysis, information, and insights into the Lithuanian construction industry, including -
This report provides a comprehensive analysis of the construction industry in Lithuania. It provides -
Summary
The Lithuanian construction industry is expected to expand by 3.2% in real terms in 2022, following a marginal annual growth of 0.2% in 2021. Growth this year will be aided by the government's expenditure on transportation and energy infrastructure, combined with the recovery of the tourism sector. In December 2021, the government approved the 2022 Budget, which includes an annual expenditure of EUR16.6 billion ($18.7 billion), representing a 15.6% increase over the expenditure of EUR12.4 billion ($14 billion) in 2021. As part of the latest Budget, the government allocated EUR193.9 million ($218.7 million) to the energy sector, EUR958.6 million ($1.1 billion) to education, and EUR3 billion ($3.4 billion) to healthcare. Furthermore, the Ministry of Transport approved the Strategic Guidelines for National Road Maintenance and Development for 2022-35 in July 2022, with the goal of improving traffic conditions and safety, while also promoting sustainable mobility through various roadway infrastructure initiatives. This is expected to attract investments in road infrastructure projects over the coming years. Despite maintaining its growth momentum, the Lithuanian construction industry is expected to face significant downside risks in the short term, due to rising inflation, increasing construction material costs, rising house prices, supply side disruptions to industrial output, and the recent surge in coronavirus (COVID-19) cases. On July 28, 2022, the country experienced a 33% increase in weekly changes of daily COVID-19 cases and an 117% increase in weekly fatalities.
Over the forecast period, the industry is expected to register an annual average growth of 4.1% from 2023 to 2026, supported by investments on transport infrastructure, renewable energy, and residential projects. According to the Energy Minister Dainius Kreivys, the country will receive EUR10 billion ($11.3 billion) in green energy investments by 2030, including EUR3.5 billion ($3.9 billion) from the private sector, as well as significant financing from the EU. In June 2022, the Ministry of Energy signed an agreement with Pajrio Tyrim ir Planavimo Institutas—a Lithuanian research institute—to evaluate the performance of the environmental impact assessment of wind turbines and launch its first international auction for the construction of a 700MW wind farm in 2023. The wind farm will provide 3TWh of green energy annually and cover 25% of Lithuania's energy demand by as early as 2028.
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.
This report provides a comprehensive analysis of the construction industry in Lithuania. It provides -
- Historical (2017-2021) and forecast (2022-2026) 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
- 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
- Figure 1: Lithuania, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2017-26
- Figure 2: Lithuania, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Construction Industry Key Data
- Figure 3: Eastern Europe and Central Asia, Construction Output (Real % Change), 2020-26
- Figure 4: Lithuania, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- 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 Thousands 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)
- Lithuania, Top Construction Projects by Value
- Lithuania, Construction Output Value (Real, $ Million)
- Lithuania, Construction Output Value (Nominal, EUR Million)
- Figure 20: Lithuania, Risk Summary
- Figure 21: Lithuania, Risk Regional Comparison
- Definitions
- CRI Methodology
- Disclaimer
Pricing
Currency Rates
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