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

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Hungary Construction Market Report Overview

The Hungary construction market size was $18.2 billion in 2022. The market is projected to achieve an AAGR of more than 4% during 2024-2027. Forecast period growth will be supported by increased investments in transport, renewable energy, and manufacturing projects. Furthermore, several companies have announced investments in Hungary in recent months. For instance, in September 2023, two automotive companies Meleghy Automotive and GKN, announced plans to establish production sites in the country, while the Danish toy company LEGO announced expansion of its packaging and storage operations in the country.

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

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

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The Hungary construction market research report provides detailed market analysis, information, and analysis of the country’s construction industry. The report also delivers critical insights into the impact of industry trends and an assessment of key risks and opportunities in the Hungarian construction industry. It also analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the key sectors in the construction market and provides an overview of each sector along with their driving factors.

Market Size (2022) $18.2 billion
AAGR (2024-2027) >4%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Sectors ·        Commercial Construction

·        Industrial Construction

·        Infrastructure Construction

·        Energy and Utilities Construction

·        Institutional Construction

·        Residential Construction

Key Contractors ·        State Atomic Energy Corporation Rosatom

·        Market Epito Zrt

·        China Railway Engineering Group Co Ltd

·        Yapi Merkezi Holding Inc

·        Bilfinger SE

Key Consultants ·        State Atomic Energy Corporation Rosatom

·        Market Epito Zrt

·        China Railway Engineering Group Co Ltd

·        Yapi Merkezi Holding Inc

·        Bilfinger SE

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Hungary Construction Market Segmentation by Sectors

Industrial construction was the leading sector in the Hungary construction market in 2022

The key sectors in the Hungary construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the industrial construction sector accounted for the highest market share.
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. Investments in the manufacturing sector and the government’s focus on supporting small and medium enterprises will support the sector’s growth in the later part of the forecast period.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The sector output will be supported by investments in road and rail infrastructure projects.

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 commercial sector’s growth over the forecast period will be supported by investments in hotel, office, retail, sports, and logistic building projects.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry’s recovery over the later part of the forecast period will be supported by the government’s focus on boosting housing construction through the introduction of housing subsidies.

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 growth will be supported by investments in renewable energy projects.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Investments in health, education, and research projects will support forecast-period growth in the institutional construction sector.

Hungary Construction Market Analysis by Sectors, 2022 (%)

Hungary Construction Market Analysis by Sectors, 2022 (%)

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Hungary Construction Market - Competitive Landscape

State Atomic Energy Corporation Rosatom emerged as the leading contractor and leading consultant in the Hungary construction market in 2022

Some of the leading contractors in the Hungary construction market are:

  • State Atomic Energy Corporation Rosatom
  • Market Epito Zrt
  • China Railway Engineering Group Co Ltd
  • Yapi Merkezi Holding Inc
  • Bilfinger SE

Foreign contractors account for most of the project pipeline in the Hungary construction market. Russia-based firms are the dominant foreign contractors due to the involvement of the Russian firm State Atomic Energy Corporation Rosatom in the $13.8 billion Paks Nuclear Power Plant Expansion.

Hungary Construction Market Analysis by Contractors, 2022 (%)

Hungary Construction Market Analysis by Contractors, 2022 (%)

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Some of the leading consultants in the Hungary construction market are:

  • State Atomic Energy Corporation Rosatom
  • Kontur Group Ltd
  • TRENECON Consulting and Planning Ltd
  • Szabadics Kozmu es Melyepito Zrt
  • Uvaterv Engineering Consultants Limited

Consultants with headquarters within Hungary are involved in most of the project pipeline by value. Among the foreign consultants, Russia-based firms are the major operational consultants in the project pipeline, followed by Romania and Italy.

Hungary Construction Market Analysis by Consultants, 2022 (%)

Hungary Construction Market Analysis by Consultants, 2022 (%)

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Hungary Construction Market – Latest Developments

  • In late August 2023, the Hungarian government submitted a proposal to modify its Recovery and Resilience Plan and plans to add a “REPowerEU” chapter. The REPowerEU proposal focuses on the modernization of the electricity grid and wider utilization of geothermal energy The proposal also focuses on the greening of the industry and improving energy efficiency.
  • In September 2023, the Hungarian government applied to the European Commission for a credit of HUF1.5 trillion ($3.9 billion). The financing will be used for the development of energy infrastructure, as well as projects to boost energy efficiency and the green transition.

Segments Covered in the Report

Hungary 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 Hungary.
  • Historical and forecast valuations of the construction industry in Hungary, 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

Table

Table 1: Construction Industry Key Data

Table 2: Hungary, Key Economic Indicators

Table 3: Hungary, Commercial Construction Output by Project Type (Real % Change), 2018-27

Table 4: Hungary, Top Commercial Construction Projects by Value

Table 5: Hungary, Industrial Construction Output by Project Type (Real % Change), 2018-27

Table 6: Hungary, Top Industrial Construction Projects by Value

Table 7: Hungary, Infrastructure Construction Output by Project Type (Real % Change), 2018-27

Table 8: Hungary, Top Infrastructure Construction Projects by Value

Table 9: Hungary, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27

Table 10: Hungary, Top Energy and Utilities Construction Projects by Value

Table 11: Hungary, Institutional Construction Output by Project Type (Real % Change), 2018-27

Table 12: Hungary, Top Institutional Construction Projects by Value

Table 13: Hungary, Residential Construction Output by Project Type (Real % Change), 2018-27

Table 14: Hungary, Top Residential Construction Projects by Value

Table 15: Hungary, Key Contractors

Table 16: Hungary, Key Consultants

Table 17: Hungary, Construction Output Value (Real, $ Million)

Table 18: Hungary, Construction Output Value (Nominal, HUF Billion)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

Figures

Figure 1: Eastern Europe, Construction Output (Real % Change), 2021-27

Figure 2: Hungary, Construction Output by Sector (Real % Change), 2021-23 and 2024-27

Figure 3: Hungary, Risk Summary

Figure 4: Hungary, Risk Regional Comparison

Figure 5: Hungary, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018-27

Figure 6: Hungary, Construction Output Value, by Sector (Real, $ Million), 2018-27

Figure 7: Hungary, Construction Value-Add (HUF Million, average prices of 2015)

Figure 8: Hungary, Gross Fixed Capital Formation in Construction (HUF Million, Chain Linked Volumes 2015)

Figure 9: Hungary, Volume Indices of the National Economy’s Investments for Construction activities (Corresponding Period of the Previous Year=100)

Figure 10: Hungary, Employment in Construction (In Thousand)

Figure 11: Hungary, Construction Building Permits (In Numbers)

Figure 12: Hungary, Construction Projects Momentum Index

Figure 13: Eastern Europe, Construction Projects Momentum Index

Figure 14: Hungary, Commercial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 15: Hungary, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 16: Hungary, Wholesale and Retail Trade Value-Add (HUF Billion, average prices of 2015)

Figure 17: Hungary, Accommodation and Food Services Value-Add (HUF Million, average prices of 2015)

Figure 18: Hungary, Total number of inbound trips to Hungary (In thousands) and total expenditures of inbound visitors to Hungary (In HUF Million)

Figure 19: Hungary, Commercial Building Permits (In Numbers)

Figure 20: Hungary, Agricultural Building Permits (In Numbers)

Figure 21: Hungary, Industrial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 22: Hungary, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 23: Hungary, Volume Indices of the National Economy’s Investments for Manufacturing activities (Corresponding Period of the Previous Year=100)

Figure 24: Hungary, Manufacturing Value-Add (HUF Billion, average prices of 2015)

Figure 25: Hungary, Total New Orders of Selected Branches of Manufacturing (at Constant Prices, Corresponding Period of Previous Year = 100), % Change YoY

Figure 26: Hungary, Industrial Building Permits (In Numbers)

Figure 27: Hungary, Total Exports (HUF Billion, Nominal Prices)

Figure 28: Hungary, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27

Figure 29: Hungary, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 30: Hungary, Volume Indices of the National Economy’s Investments for Transportation and storage activities (Corresponding Period of the Previous Year=100)

Figure 31: Hungary, Transport and Storage Value-Add (HUF Million, average prices of 2015)

Figure 32: Hungary, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27

Figure 33: Hungary, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 34: Hungary, Volume Indices of the National Economy’s Investments for Electricity, gas, steam and air conditioning supply (Corresponding Period of the Previous Year=100), % Change YoY

Figure 35: Hungary, Volume Indices of the National Economy’s Investments for Water supply; sewerage, waste management and remediation activities (Corresponding Period of the Previous Year=100), % Change YoY

Figure 36: Hungary, Information and Communication Services Value-Add (HUF Billion, average prices of 2015)

Figure 37: Hungary, Institutional Construction Output by Project Type (Real, $ Million), 2018-27

Figure 38: Hungary, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 39: Hungary, Volume Indices of the National Economy’s Investments for Education (Corresponding Period of the Previous Year=100), % Change YoY

Figure 40: Hungary, Volume Indices of the National Economy’s Investments for Human Health and Social Work Activities (Corresponding Period of the Previous Year=100), % Change YoY

Figure 41: Hungary, Health Value-Add (HUF million, average prices of 2015)

Figure 42: Hungary, Education Value-Add (HUF million, average prices of 2015)

Figure 43: Hungary, Residential Construction Output by Project Type (Real, $ Million), 2018-27

Figure 44: Hungary, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 45: Hungary, Real Value-Add (HUF million, average prices of 2015)

Figure 46: Hungary, Volume Indices of the National Economy’s Investments for real estate activities (Corresponding Period of the Previous Year=100), % Change YoY

Figure 47: Hungary, Construction Permits Issued for Residential Buildings (In Number)

Figure 48: Hungary, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 49: Hungary, Headquarters of Key Consultants (% of Total Project Pipeline)

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