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

Estonia Construction Market Report Overview

The Estonia construction market size was $6.2 billion in 2022. The market is projected to achieve an AAGR of more than 4% during 2024-2027 supported by investments in transport, renewable energy, green hydrogen, and telecommunication infrastructure projects. Forecast-period growth will also be supported by financial assistance from the European Commission for the period of 2021–27.

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

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The Estonia construction market research report provides detailed market analysis, information, and insights into the Estonia construction industry, including the industry’s growth prospects 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 Estonia construction industry. It also provides an analysis of the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the sectors in the construction market and provides an overview of each sector along with their driving factors.

Estonia Construction Market Segmentation by Sectors

Commercial construction was the leading sector in the Estonia construction market in 2022.

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

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The growth of the sector over the forecast period will be driven by investments in leisure and hospitality, retail, and office building projects.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The growth of the sector over the forecast period will be supported by investments in rail and road infrastructure projects. As part of the latest budget, the government increased investments in public transport and the development of bicycle paths over the next four years.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The market growth will be supported by public and private investment to develop the housing sector.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The growth of the sector over the forecast period will be supported by the public and private investment on the development of renewable energy infrastructure, in line with the government’s focus on reducing carbon emissions in the country.

Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. The growth of the sector will be supported by investments in the manufacturing and mining sectors.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Forecast-period growth in the institutional construction sector will be supported by public and private investments in healthcare and education projects.

Estonia Construction Market Analysis by Sectors, 2022 (%)

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Estonia Construction Market – Latest Developments

• In July 2023, the real estate company AS Kapitel announced a plan to build a five-story hotel at Tallinn’s Kalasadama tänav, with an estimated investment of EUR 30-40 million ($30.6-40.8 million). The project is expected to be completed in 2026.
• In July 2023, the Swedish multinational networking and telecommunications company Ericsson announced a plan to develop a smart manufacturing and technology hub in Tallinn.
• In May 2023, Estonia’s Consumer Protection and Technical Supervision Agency (TTJA) awarded 5G licenses in the 24.7-27.1GHz frequency band to the Finnish telecommunications company Elisa, and Swedish telecommunications companies Telia Company and Tele2.

Segments Covered in the Report

Estonia Construction Sectors Outlook (Value, $ Billion, 2018-2027)

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

Scope

This report provides:

• A comprehensive analysis of the construction industry in Estonia.
• Historical and forecast valuations of the construction industry in Estonia, 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.