Dublin, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The "Greece Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Greece is expected to register annual growth of 6.3% in real terms in 2023, following on from an expansion of 26% in 2022, driven primarily by investments as part of the European Union (EU's) Recovery and Resilience Facility (RRF). An improvement in the tourism and hospitality sectors, coupled with rising foreign direct investment (FDI) has also been a supporting factor.
According to the United Nations Conference on Trade and Development (UNCTAD), FDI in Greece rose by 20.2% last year, increasing from EUR6.2 billion ($6.3 billion) in 2021 to a historic high of EUR7.4 billion ($7.6 billion) in 2022. Rising building permits will also provide a boost to the industry's growth in 2023.
Following the sharp boost in activity in 2022-23 from spending under the RRF, output will ease back in 2024, but it will still be much higher than 2021, with construction activity continuing to be supported by investments in transport, renewable energy, residential and commercial construction projects. The government aims to increase the share of renewable energy in the total energy mix to 35% over the next eight years. The plan involves a target of producing 7.7GW of solar PV and 7GW of wind capacity by 2030. In May 2023, the Greek government allocated a budget of EUR238 million ($243 million) for its "Photovoltaics on the Roof" program.
The report provides detailed market analysis, information and insights into the Greek construction industry, including:
- The Greek 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 Greek 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 Greece including:
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Greece, 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
For more information about this report visit https://www.researchandmarkets.com/r/rcxxg1
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.
