DUBLIN, March 4, 2024 /PRNewswire/ — The “Belgium Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028” report has been added to ResearchAndMarkets.com’s offering.
The construction industry in Belgium is expected to decline by 1.7% in real terms in 2024, following marginal annual growth of 0.5% in 2023. The industry’s weakness in 2024 would be mainly affected by the challenges stemming from high construction costs and rising interest rates. According to the Belgian statistical office (STATBEL), the average construction output price index rose by 7.6% year on year (YoY) in the first nine months of 2023, following a rise of 13.8% in 2022.
The construction industry is expected to rebound from 2025, assuming an improvement in wider economic stability, with the construction industry to register an average growth rate of 3.1% from 2025 to 2028, supported by investments in the transport and renewable energy sectors. The National Railway Company of Belgium’s (SNCB) transport plan for the period 2023-2026, which aims to run 2,000 trains each week until 2026, will aid towards development of railway lines, thereby driving the infrastructure sector’s growth in the coming period. To achieve this, the company will invest EUR1.8 billion ($1.84 billion) in the country’s stations to improve intramodality and accessibility. In addition, the rail infrastructure manager Infrabel, would finance EUR1 billion ($1.02 billion) in the priority projects under the company’s 2023-32 investment plan.
Furthermore, with the government aim to increase the share of renewable energy in its total gross fixed energy consumption from 13% in 2020 to 17.5% by 2030 and aims to reduce its non-ETS greenhouse gas emissions by 55% by 2030, compared to the 2005 levels would support the investment in the renewable energy projects.
The Construction in Belgium – Key Trends and Opportunities to 2028 (H1 2024) 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.
This report provides a comprehensive analysis of the construction industry in Belgium. It provides –
- Historical (2019-2023) and forecast (2024-2028) 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
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/6xexdb
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SOURCE Research and Markets
