Dublin, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The "Finland Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Finnish construction industry is forecast to contract by 7.9% this year, as the decline in residential constructions continues to weigh on the industry's output along with the increase of construction companies' bankruptcies leading to project delays or cancellations. According to Statistics Finland, the number of new bankruptcy proceedings across all the sectors increased by 24.7% year on year (YoY) to 283 companies in August 2023, a new high since 2013-2014. However, the industry's output in 2023 will supported by the increase of developments in transportation and energy infrastructure projects.
The Finnish Transport Infrastructure Agency (FTIA) released the medium-term works for 2023-2025 under Transport 12 in early January 2023, which include the execution of nearly 50 general and road planning projects, 20 railway projects and preliminary studies for small-scale rail and road projects.
The industry's output is expected to grow at an annual average rate of 2.1%between 2024 and 2027, supported the National Transport System Plan for 2021-2032, under which, the government plans to spend EUR6.1 billion ($6.2 billion) to upgrade the country's transport infrastructure over the 12-year period. Of the total investment, the government plans to spend EUR3.4 billion ($3.5 billion) for new infrastructure development projects. By segments, 44% of EUR3.4 billion ($3.5 billion) will be allocated for roads, 52% for the rail network and 4% for waterways. As part of the Finnish Government's fiscal plan for 2023-26, the Ministry of Economic Affairs and Employment allocated EUR1.9 billion ($1.9 billion) for promoting energy efficiency and renewable energy for attaining its energy efficiency target by 2030.
The report provides detailed market analysis, information, and insights into the Finnish construction industry, including -
- The Finnish 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 Finnish 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 Finland including:
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Finland, 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
Report Benefits
- Identify and evaluate market opportunities using the 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 critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
For more information about this report visit https://www.researchandmarkets.com/r/d0ugea
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