Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "Norway Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market France, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The latest comprehensive analysis exploring the future trajectory of Norway's construction industry has been published, detailing significant insights and forecasts from 2023 through 2027. This publication navigates through a myriad of sector-specific landscapes, outlining pivotal growth drivers, risk assessments, and the competitive market outlook.
Norwegian Construction Sector Facing Short-Term Contraction Amid Economic Challenges
The publication unveils that Norway's construction industry is expected to face a contraction in the short term, with a 2.1% decrease in real terms this year and an anticipated 3% fall in 2024. Key factors contributing to this downturn include elevated construction costs, higher interest rates, and a rise in unemployment, particularly impacting the residential sector. The industry's recent growth momentum of 4.4% in 2022 is set to face these headwinds, with the report providing detailed insights into these trends.
Cost Inflation and Supply Chain Disruptions Informing Industry Outlook
An in-depth analysis of the report suggests that the Russia-Ukraine conflict continues to impact the industry, with potential risks of supply chain disruptions and material price volatility. Construction cost indices for both residential buildings and road construction have seen noticeable year-on-year increases, propelled by escalating labor and material costs.
Path to Recovery: Projections and Government Initiatives
Despite the immediate challenges, the industry is forecasted to recover, with an estimated annual average growth rate of 3.4% from 2025 to 2027. The report identifies government-led investments in transport and renewable energy sectors as key to this resurgence. The Norwegian government's commitment to a green industrial growth roadmap is set to invigorate crucial areas such as offshore wind, hydrogen, and batteries, offering long-term strategic prospects for the construction industry.
- Comprehensive Overview of Market Segments
- Detailed Mega-Project Pipeline Analysis
- Risk and Opportunity Assessment
This publication serves as an invaluable resource for those looking to understand Norway's construction industry's trajectory, furnishing them with a strategic edge in market forecasting and opportunity identification. With extensive time-series data and analysis of current industry trends, this report lays the groundwork for informed decision-making and strategic planning within the competitive landscape of Norway's construction sector.
Construction Outlook
- All Construction
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
For more information about this report visit https://www.researchandmarkets.com/r/3ieur3
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