Lithuania Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Lithuania Construction Market Report Overview
The Lithuania construction market size was $9.4 billion in 2022. The market is projected to achieve an AAGR of more than 4% during 2024-2027. The industry’s growth will be supported by investments in transport and renewable energy infrastructure projects.
Lithuania Construction Market Outlook, 2022-2027
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The Lithuania construction market research report provides detailed market analysis, information, and insights into the Lithuania 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 Lithuania construction industry. The report 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.
|Market Size (2022)||$9.4 billion|
|Key Sectors||Commercial Construction, Industrial Construction, Infrastructure Construction, Energy and Utilities Construction, Institutional Construction, and Residential Construction|
Lithuania Construction Market Segmentation by Sectors
The key sectors in the Lithuania construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. Infrastructure construction had the highest share in 2022.
Commercial construction: Growth in the commercial construction sector is expected to be flat in 2023, owing to rising inflation, fall in office building permits and looming recession over global economy, which will constrain further growth in the sector. The commercial construction sector is however expected to rebound at an average annual growth rate of more than 5% from 2024 to 2027, supported by an anticipated pickup in domestic demand, coupled with a recovery in retail and leisure activities.
Industrial construction: The industrial construction sector is expected to shrink by more than 4% in real terms in 2023, owing to headwinds caused by supply chain disruptions, rising manufacturing costs, and a global economic slowdown amid the Russia-Ukraine conflict.
Infrastructure construction: The infrastructure construction sector is expected to grow by more than 4% in real terms in 2023, supported by the government investments in the transportation network, primarily in road and railway construction. However, the mounting constraints and obstacles owing to the current economic headwinds coupled with the delay in receiving RRF funds are expected to dampen the sector’s investment trend in the short-to-medium term.
Energy and utilities construction: Construction activity in the energy and utilities sector is expected to fall by in 2023, owing to subdued investor confidence amid the ongoing energy crisis in the country. The sector is however expected to rebound at an annual average growth rate of more than 4% over the remainder of the forecast period (2024–27), supported by government’s focus on reducing greenhouse gas (GHG) emissions and become net zero by 2050 through renewable energy generation schemes.
Institutional construction: The institutional sector is expected to remain weak in 2023, falling in real terms, owing to a drop in the number of institutional building permits granted and the level of new works started in 2022. Over the period 2024-2027, the sector’s output will stabilize at an annual average growth rate of more than 2%, supported by the advancement in the healthcare, education, and religious infrastructure sectors.
Residential construction: The residential construction sector is expected to shrink in 2023, owing to subdued investor and consumer confidence amid rising inflation, high construction material prices, rising interest rates, falling residential permits, and reduced state subsidies for housing.
Lithuania Construction Market Analysis by Sectors, 2022 (%)
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Segments Covered in the Report
Lithuania Construction Sectors Outlook (Value, US$ Billion, 2018-2027)
- 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 Lithuania. It provides
- Historical and forecast valuations of the construction industry in Lithuania, 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.
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. Construction Outlook
2. Construction Industry: At-a-Glance
3. Latest News and Developments
4. Project Analytics
5. Construction Market Data
6. Risk Profile
7. About GlobalData
7.2 CRI Methodology
Frequently asked questions
What was the Lithuania construction market size in 2022?
The construction market size in Lithuania was $9.4 billion in 2022.
What is the Lithuania construction market growth rate?
The construction market in Lithuania is projected to achieve an AAGR of more than 4% during 2024-2027.
Which was the leading sectors in the Lithuania construction market?
Infrastructure construction was the leading sector in the Lithuania construction market in 2022.
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