Estonia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Estonia Construction Market Report Overview
The Estonia construction market size was $5.9 billion in 2023. The market will achieve an AAGR of more than 5% during 2025-2028. Financial aid from the European Commission for construction projects will drive the market growth during the forecast period.
According to the government estimates reported in December 2023, construction in the Estonian section of the line is expected to be completed around 2030.
Estonia Construction Market Outlook, 2023-2028 ($ Billion)
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The Estonia construction market report has compiled data on various project types and construction activities across sectors. While discussing the construction projects, our analysts have elucidated the factors responsible for the developments. The report further analyzes the top construction projects in Estonia from pre-planning to execution, along with the emerging market trends. In addition, the report gives an overview of the latest developments in the Estonia construction market.
Market Size (2023) | $5.9 billion |
AAGR (2025-2028) | >5% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2023 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
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Estonia Construction Market Segmentation by Sectors
Infrastructure 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. In 2023, the infrastructure construction sector accounted for the highest market share, followed by the residential construction sector.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and others. The sector output will be supported by public and private investment in the development of regional transportation networks.
Residential construction: The project types in this sector include single-family housing and multi-family housing. Rising urbanization and increasing population will drive the sector’s growth over the forecast period.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The sector’s growth over the forecast period is attributed to the government’s focus on the development of oil and gas and energy infrastructure, particularly renewable energy infrastructure to meet rising energy demand.
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 other factor driving the sector growth is the private investment in the commercial sector.
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 government’s focus on developing raw material processing, and manufacturing industries coupled with increasing export activities will boost the sector’s growth during the forecast period.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Increasing public and private sector investment in the healthcare, education sectors, and research infrastructure will aid the sectoral growth during the forecast period.
Estonia Construction Market Analysis by Sectors, 2023 (%)
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Estonia Construction Market – Latest Developments
- The local renewable energy company Evecon and the French solar power producer Corsica Sole announced its plans in November 2023 to build two battery storage systems in Harju County, with a total capacity of 200MW.
- In early January 2024, the Ministry of Defense announced a plan to construct a defense industrial park. This industrial park will consist of an ammunition factory and is expected to be constructed either in Lääne-Nigula Municipality, Lüganuse Municipality or in the City of Pärnu Municipality.
Segments Covered in the Report
Estonia Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- 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.
Table of Contents
Table
Figures
Frequently asked questions
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What was the Estonia construction market size in 2023?
The construction market size in Estonia was $5.9 billion in 2023.
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What will the Estonia construction market growth rate be during the forecast period?
The construction market in Estonia is projected to achieve an AAGR of more than 5% during 2025-2028.
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Which was the leading sector in the Estonia construction market in 2023?
Infrastructure construction was the leading sector in the Estonia construction market in 2023.
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What are the factors driving infrastructure construction in the Estonia construction market?
The infrastructure sector output will be supported by public and private investment in the development of regional transportation networks.
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