Belgium Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

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Belgium Construction Market Overview

The Belgium construction market size was $103.4 billion in 2022. The market is projected to achieve an AAGR of more than 2% during 2024-2027. The forecast period growth will be supported by the government’s focus on the development of the energy and transport infrastructure sectors.

As part of the National Energy-Climate Plan 2021-2030, the government aims to increase the share of renewable energy in its total gross fixed energy consumption from 13% in 2020 to 17.2% by 2030.

Belgium Construction Market Outlook, 2022-2027 ($ Billion)

Belgium Construction Market Outlook, 2022-2027 ($ Billion)

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The Belgium construction market research report provides detailed market analysis, information, and insights into the Belgium construction industry, including the growth prospects of the industry by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Belgium construction industry. It also provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline. The market report discusses the sectors present within the construction market and provides an overview of each sector along with their driving factors.

Market Size (2022) $103.4 Billion
AAGR (2024-2027) >2%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Sectors ·       Commercial Construction

·       Industrial Construction

·       Infrastructure Construction

·       Energy and Utilities Construction

·       Institutional Construction

·       Residential Construction

Key Contractors ·       Jan De Nul Group

·       BESIX Group SA

·       Denys NV

·       Stadsbader NV

·       Metito Holdings Ltd

Key Consultants ·       Sweco AB

·       Arcadis NV

·       Engie SA

·       Arup Group Ltd

·       John Wood Group Plc

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Belgium Construction Market Segmentation by Sectors

Residential construction was the leading sector in the Belgium construction market in 2022.

The key sectors in the Belgium construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Commercial construction: The commercial construction sector is expected to decline in 2023, owing to subdued investor and consumer confidence amid rising interest rates and elevated inflation. However, the sector is expected to pick up from 2024 to 2027, supported by a rebound in tourism activities, coupled with investments in wholesale and retail trade buildings.

Industrial construction: This sector is expected to shrink this year, due to a decline in foreign direct investment (FDI) and export activities. However, the sector will be supported by investments in the industrial and manufacturing sectors, assuming an improvement in the wider economy from 2024.

Infrastructure construction: GlobalData expects the infrastructure construction sector’s output to grow in 202. From 2024 to 2027, the market will grow, supported by government plans to develop transport infrastructure with the help of the private sector.

Energy and utilities construction: Construction activity in the energy and utilities sector is estimated to grow in 2023. Over the remainder of the forecast period, growth will be supported by public and private investment in the development of renewable energy infrastructure.

Institutional construction: The institutional construction sector is expected to contract in 2023. However, during 2024 and 2027, the sector will grow, driven by public and private investments in the education and healthcare sectors.

Residential construction: GlobalData expects the residential construction sector to decline in real terms in 2023, due to weak consumer and investor confidence amid high inflation, interest rates, and housing prices. However, the sector is expected to grow from 2025 to 2027, supported by public and private investment to develop the housing sector.

Belgium Construction Market Analysis by Sectors, 2022 (%)

Belgium Construction Market Analysis by Sectors, 2022 (%)

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Belgium Construction Market - Competitive Landscape

Domestic contractors account for a majority share of the project pipeline.

The leading contractors in the Belgium construction market are Jan De Nul Group, BESIX Group SA, Denys NV, Stadsbader NV, and Metito Holdings Ltd among others. Jan De Nul Group led the market in 2022.

Belgium Construction Market by Contractors, 2022 (%)

Belgium Construction Market by Contractors, 2022 (%)

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The leading consultants in the Belgium construction market are Sweco AB, Arcadis NV, Engie SA, Arup Group Ltd, and John Wood Group Plc among others. Sweco AB led the market.

Belgium Construction Market by Consultants, 2022 (%)

Belgium Construction Market by Consultants, 2022 (%)

Consultants with headquarters outside Belgium are involved in most of the project pipeline by value.

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Latest Developments in the Construction Market

  • The government also plans to reduce its non-ETS greenhouse gas emissions (all greenhouse gas emissions that are not from companies in the ETS – Emissions Trading System) by 35% by 2023 compared to the 2005 levels.
  • June 2023: The Federal Ministry of Energy approved the 2024-2034 Federal Development Plan of the Belgian electricity transmission operator Elia Group. The ten-year development plan outlines measures to strengthen the country’s energy supply and keep it affordable.

Segments Covered in the Report

Belgium Construction Sectors Outlook (Value, $ Billion, 2019-2027)

  • Commercial Construction
  • Industrial Construction
  • Infrastructure Construction
  • Energy and Utilities Construction
  • Institutional Construction
  • Residential Construction


This report provides:

  • A comprehensive analysis of the construction industry in Belgium.
  • Historical and forecast valuations of the construction industry in Belgium, featuring details of key growth drivers.
  • Segmentation by sector 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 GlobalData’s 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 GlobalData’s critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

Table of Contents

  • 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

      • 4.1.1. Outlook
      • 4.1.2. Latest news and developments
      • 4.1.3. Construction Projects Momentum Index

    • 4.2. Commercial Construction

      • 4.2.1. Outlook
      • 4.2.2. Project analytics
      • 4.2.3. Latest news and developments

    • 4.3. Industrial Construction

      • 4.3.1. Outlook
      • 4.3.2. Project analytics
      • 4.3.3. Latest news and developments

    • 4.4. Infrastructure Construction

      • 4.4.1. Outlook
      • 4.4.2. Project analytics
      • 4.4.3. Latest news and developments

    • 4.5. Energy and Utilities Construction

      • 4.5.1. Outlook
      • 4.5.2. Project analytics
      • 4.5.3. Latest news and developments

    • 4.6. Institutional Construction

      • 4.6.1. Outlook
      • 4.6.2. Project analytics
      • 4.6.3. Latest news and developments

    • 4.7. Residential Construction

      • 4.7.1. Outlook
      • 4.7.2. Project analytics
      • 4.7.3. Latest news and developments

  • 5. Key Industry Participants

    • 5.1. Contractors
    • 5.2. Consultants

  • 6. Construction Market Data
  • 7. Appendix

    • 7.1. What is this Report About?
    • 7.2. Definitions
    • 7.3. CRI Methodology

  • 8. About GlobalData
  • 9. Contact Us

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