Norway Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Pages: 57 Published: July 06, 2022 Report Code: GDCN0949MR

The Norway construction market size was valued at $79.2 billion in 2021. The market is projected to grow at an AAGR of more than 2% during the period 2023-2026. The Norwegian construction industry is expected to maintain its growth momentum and expand in 2022, supported by a recovery in economic conditions, coupled with an improvement in consumer and business confidence. The gradual recovery in tourist arrivals is expected to boost revenues in the tourism sector and attract greater investments in the leisure and hospitality and retail sectors. Additionally, the rise in manufacturing and export activities is expected to support a recovery in investments in the manufacturing sector, contributing to a marginal improvement in industrial construction.

The Norway construction market report provides detailed market analysis, information, and insights into the Norwegian construction industry, including the construction industry’s growth prospects by market, project type, and construction activity. Also, it includes critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Norwegian 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.

Norway construction market overview

Norway construction market overview

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What are the key sectors in the Norway construction market?

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

Commercial construction market in Norway

The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects. The pipeline also includes a share of mixed-use developments, which comprise commercial and residential elements. The sector’s output in 2022 will be supported by progress in the country’s vaccination drive, coupled with a gradual recovery in tourism activities amid the easing of travel restrictions.

Industrial construction market in Norway

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 pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects. Growth in the sector will be supported by a gradual improvement in investor confidence, amid a rebound in exports and manufacturing production as well as investments in the auto sector.

Infrastructure construction market in Norway

The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The pipeline, which includes all projects from pre-planning to execution, is skewed towards early-stage projects. The sector will grow supported by the government’s investment in transport infrastructure.

Energy and utilities construction market in Norway

The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects. The sector growth will be supported by the government’s focus on the development of renewable energy infrastructure.

Institutional construction market in Norway

The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects. Over the remainder of the forecast period, the institutional sector’s output will be supported by a pipeline of educational and healthcare construction projects.

Residential construction market in Norway

The project types in this sector include single-family housing and multi-family housing.  The pipeline, which includes all projects from pre-planning to execution, has a high share of late-stage development projects.

Norway construction market, by sectors

Norway construction market, by sectors

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Who are the key contractors in the Norway construction market?

The key contractors in the Norway construction market are Aibel AS, Aker Solutions ASA, Eni SpA, Nordstjernan AB, Skanska AB, Implenia AG, AF Gruppen ASA, Haehre Entreprenor AS, Stangeland Gruppen AS, and Veidekke ASA.

Norway construction market, by key contractors

Norway construction market, by key contractors

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Who are the key consultants in the Norway construction market?

The key consultants in the Norway construction market are Aker Solutions ASA, Norconsult AS, IKM Gruppen AS, COWI Holding AS, Multiconsult ASA, Sweco AB, Ramboll Group AS, Baker Hughes Co., KBR Inc., and Lloyd’s Register Group Ltd.

Norway construction market, by key consultants

Norway construction market, by key consultants

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Market report scope

Market size (Year – 2021) $79.2 billion
Growth rate (2023 – 2026) AAGR of >2%
Forecast period 2022-2026
Key sectors Commercial Construction, Industrial Construction, Infrastructure Construction, Energy and Utilities Construction, Institutional Construction, and Residential Construction
Key contractors Aibel AS, Aker Solutions ASA, Eni SpA, Nordstjernan AB, Skanska AB, Implenia AG, AF Gruppen ASA, Haehre Entreprenor AS, Stangeland Gruppen AS, and Veidekke ASA
Key consultants Aker Solutions ASA, Norconsult AS, IKM Gruppen AS, COWI Holding AS, Multiconsult ASA, Sweco AB, Ramboll Group AS, Baker Hughes Co., KBR Inc., and Lloyd’s Register Group Ltd

This report provides:

  • Historical and forecast valuations of the construction industry in Norway, 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

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 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

– Outlook

– Latest news and developments

– Construction Projects Momentum Index

4.2 Commercial Construction

– Outlook

– Project analytics

– Latest news and developments

4.3 Industrial Construction

– Outlook

– Project analytics

– Latest news and developments

4.4 Infrastructure Construction

– Outlook

– Project analytics

– Latest news and developments

4.5 Energy and Utilities Construction

– Outlook

– Project analytics

– Latest news and developments

4.6 Institutional Construction

– Outlook

– Project analytics

– Latest news and developments

4.7 Residential Construction

– Outlook

– Project analytics

– 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

7.4 GlobalData Construction

Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Norway, Key Economic Indicators

Table 3: Norway, Commercial Construction Output by Project Type (Real % Change), 2017-26

Table 4: Norway, Top Commercial Construction Projects by Value

Table 5: Norway, Industrial Construction Output by Project Type (Real % Change), 2017-26

Table 6: Norway, Top Industrial Construction Projects by Value

Table 7: Norway, Infrastructure Construction Output by Project Type (Real % Change), 2017-26

Table 8: Norway, Top Infrastructure Construction Projects by Value

Table 9: Norway, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26

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

Table 11: Norway, Institutional Construction Output by Project Type (Real % Change), 2017-26

Table 12: Norway, Top Institutional Construction Projects by Value

Table 13: Norway, Residential Construction Output by Project Type (Real % Change), 2017-26

Table 14: Norway, Top Residential Construction Projects by Value

Table 15: Norway, Key Contractors

Table 16: Norway, Key Consultants

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

Table 18: Norway, Construction Output Value (Nominal, NOK Million)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

List of Figures

Figure 1: Western Europe, Construction Output (Real % Change), 2020-26

Figure 2: Norway, Construction Output by Sector (Real % Change), 2020-22 and 2023-26

Figure 3: Norway, COVID-19 Confirmed Cases

Figure 4: Norway, Risk Summary

Figure 5: Norway, Risk Regional Comparison

Figure 6: Norway, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26

Figure 7: Norway, Construction Output Value, by Sector (Real, $ Million), 2017-26

Figure 8: Norway, Construction Value Add (NOK Million, 2019 Constant Prices)

Figure 9: Norway, Construction Production Index, 2015=100

Figure 10: Norway, Construction Employment, in Thousands

Figure 11: Norway, Construction Projects Momentum Index

Figure 12: Region, Construction Projects Momentum Index

Figure 13: Norway, Commercial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 14: Norway, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 15: Norway, Guest Nights by Foreign Nationals, In Thousands

Figure 16: Norway, Turnover Index of Accommodation and Food Service Activities, 2015=100

Figure 17: Norway, Turnover Index of Office Administrative, Office Support and Other Business Support Activities, 2015=100

Figure 18: Norway, Industrial Construction Output by Project Type (Real, $ Million), 2017-26

Figure 19: Norway, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 20: Norway, Manufacturing Value Add (NOK Million, 2019 Constant Prices)

Figure 21: Norway, Index of Manufacturing Production, 2005=100

Figure 22: Norway, Total Investments in Manufacturing (NOK, Million)

Figure 23: Norway, Total Export Value (NOK, Million)

Figure 24: Norway, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26

Figure 25: Norway, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 26: Norway, Cost Index for Road Construction, Q1 2004=100

Figure 27: Norway, Production Index for Road and Rail Construction, 2015=100

Figure 28: Norway, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26

Figure 29: Norway, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 30: Norway, Construction Production Index for Utility Projects, 2015=100

Figure 31: Norway, Oil and Gas Extraction Value Add (NOK Million, 2019 Constant Prices)

Figure 32: Norway, Electricity, Gas and Steam Value Add (NOK Million, 2019 Constant Prices)

Figure 33: Norway, Information and Communication Value Add (NOK Million, 2019 Constant Prices)

Figure 34: Norway, Institutional Construction Output by Project Type (Real, $ Million), 2017-26

Figure 35: Norway, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 36: Norway, Education Value Add (NOK Million, 2019 Constant Prices)

Figure 37: Norway, Health and Social Work Value Add (NOK Million, 2019 Constant Prices)

Figure 38: Norway, Residential Construction Output by Project Type (Real, $ Million), 2017-26

Figure 39: Norway, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 40: Norway, Total Number of Dwelling Completed (Unit, Number)

Figure 41: Norway, Total Number of Dwelling Started (Unit, Number)

Figure 42: Norway, Total Number of Dwelling Under Construction (Unit, Number)

Figure 43: Norway, Construction Cost Index for Residential Buildings, 2015=100, % Change YoY

Figure 44: Norway, Utility Floor Space of Dwelling Permits, in Thousand m2

Figure 45: Norway, Real Estate Value Add (NOK Million, 2019 Constant Prices)

Figure 46: Norway, Price Index for New Dwellings, 2015=100, % Change YoY

Figure 47: Norway, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 48: Norway, Headquarters of Key Consultants (% of Total Project Pipeline)

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