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

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Published: May 16, 2023 Report Code: GDCN1140MR-ST

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Norway Construction Market Report Overview

The Norway construction market size was $80.9 billion in 2022. The market is projected to achieve an AAGR of more than 2% during 2024-2027, supported by investments in the transport and renewable energy sectors.

Norway Construction Market Outlook, 2022-2027

Norway Construction Market Outlook, 2022-2027

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The Norway construction market research report provides detailed market analysis, information, and insights into the Norway 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 Norway 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) $80.9 billion
AAGR (2024-2027) >2%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Sectors Commercial Construction, Industrial Construction, Infrastructure Construction, Energy and Utilities Construction, Institutional Construction, and Residential Construction
Leading Contractors Implenia AG, Skanska AB, Veidekke ASA, Nordstjernan AB, AF Gruppen ASA, Hab Construction AS, Webuild SpA, Stangeland Gruppen AS, Haehre Entreprenor AS, and Hent AS
Leading Consultants Norconsult AS, Multiconsult ASA, COWI AS, Sweco AB, TUV SUD AG, Ramboll Group A/S, Aker Solutions ASA, Aas-Jakobsen AS, NGI, and Veidekke ASA

Norway Construction Market Segmentation by Sectors

The key sectors in the Norway construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. Residential construction had the highest share in the Norway construction market in 2022.

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 construction sector is expected to contract by more than 2% in 2023, owing to subdued business confidence amid high inflation, rising interest rates and tightened household budgets. Over the remainder of the forecast period, the sector’s output will be supported by investments in office, data centre, and logistics building projects.

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 industrial construction sector is expected to grow by more than 5% this year before stabilizing at an annual average rate of more than 1% between 2024 and 2027, aided by increased investment in the manufacturing and mining sectors, combined with steady progress in the development of battery and hydrogen production projects.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects.  The infrastructure construction sector is expected to contract by less than 1% this year, due in part to high construction costs and labor shortages, which have led to project delays and overruns for major contractors. Over the longer term, the sector’s output will be driven by investments as part of the new National Transport Plan (NTP) 2022–33.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The energy and utilities construction sector is expected to grow by this year, before increasing to a more than 3% annual average growth rate between 2024 and 2027, fueled by increased developments in renewable energy and a long-term investment portfolio aimed at expanding the oil and gas sector.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The institutional construction sector’s output is expected to fall by more than 2% in 2023, before recovering at an annual average rate of more than 1% between 2024 and 2026, supported by investments in health, education, and museum projects.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction sector is expected to contract in 2023, before registering an annual average growth rate of more than 1% from 2024 to 2027. In the short to medium term, the residential construction sector will experience a drop in investments and project development amid the rise in interest rates, inflation and economic weaknesses. In the long term, the sector will be stabilized by a strong pipeline of housing projects, combined with a positive trend in residential building permits.

Norway Construction Market Analysis by Sectors, 2022 (%)

Norway Construction Market Analysis by Sectors, 2022 (%)

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Norway Construction Market - Competitive Landscape

The leading contractors in the Norway construction market are Implenia AG, Skanska AB, Veidekke ASA, Nordstjernan AB, AF Gruppen ASA, Hab Construction AS, Webuild SpA, Stangeland Gruppen AS, Haehre Entreprenor AS, and Hent AS. Implenia AG led the Norway construction market in 2022.

Norway Construction Market by Contractors, 2022 (%)

Norway Construction Market by Contractors, 2022 (%)

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The leading consultants in the Norway construction market are Norconsult AS, Multiconsult ASA, COWI AS, Sweco AB, TUV SUD AG, Ramboll Group A/S, Aker Solutions ASA, Aas-Jakobsen AS, NGI, and Veidekke ASA. Norconsult AS has the highest share in the Norway construction market in 2022.

Norway Construction Market by Consultants, 2022 (%)

Norway Construction Market by Consultants, 2022 (%)

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Segments Covered in the Report

Norway Construction Sectors Outlook (Value, US$ Million, 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 Norway. It 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

  • 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

    • 7.4. GlobalData Construction

  • 8. Contact Us

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