Dublin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The "Norway Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
The Construction in Norway report provides detailed market analysis, information and insights into the Norwegian construction industry, including:
- The Norwegian 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 Norwegian 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 Norwegian construction industry is forecast to shrink in real terms by 4% in 2024 owing to continued slowdown in housing market aimed rising interest rates, high inflation and construction costs, coupled with high mortgage rates and decline in building permits issued. According to Statistics Norway, the average construction cost index for residential buildings rose by 2.9% year on year (YoY) in the first eight months of 2024. This increase was attributed to rises in labor (4.6% YoY) and material prices (1.7% YoY).
Moreover, the total floor space of dwelling permits issued in the country fell by 5.9% YoY in H1 2024, preceded by an annual fall of 16.8% in 2023. Additionally, the construction industry's output in 2024 was impacted by the ongoing delays in the implementation of significant infrastructure and energy development projects. In March 2024, the government announced that the tender for 1.5GW floating offshore wind project- Utsira Nord which was to be tendered in 2024 is pushed to 2025 due to disputes between governments and industries over subsidies.
Over the remainder of the forecast period, the construction industry's output is expected to rebound at an annual average growth rate of 3.4% from 2025 to 2028, supported by investments in the transport, commercial, and renewable energy sectors, coupled with the government's target of reaching net zero carbon emissions by 2030, compared to the 1991 levels.
This report provides a comprehensive analysis of the construction industry in Norway. It provides:
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Norway, 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 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 the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
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
3.4 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
For more information about this report visit https://www.researchandmarkets.com/r/yu4lh4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
