Norway Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2029 (H2 2025)

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Published: December 31, 2025 Report Code: GDCN1778MR-ST

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The construction industry in Norway is expected to decline in real terms by 1.7% in 2025, following a contraction of 3.5% in 2024, owing to supply chain disruptions amid elevated material costs and weakness primarily in the residential construction sector. According to Statistics Norway (SSB), the construction cost index for residential buildings grew by 4.3% year on year (YoY) in the first eleven months of 2025, preceded by an increase of 3.7% in 2024.

Over the remainder of the forecast period, the construction industry is expected to recover and grow at an annual average growth rate of 3.6% from 2026 to 2029, supported by investments in energy, transport infrastructure and oil and gas projects, coupled with the government’s target of reaching net zero carbon emissions by 2030, compared to 1991 levels. In November 2025, Statnett, Norway’s state-owned power transmission operator, announced its plan to invest NOK150–200 billion ($13.8–18.4 billion) in the national grid by 2035 under its 2025 System Development Plan. Furthermore, in July 2025, the consortium of energy companies, Equinor, Aker BP, Petoro, and TotalEnergies, announced an investment of NOK13 billion ($1.2 billion) for the third phase expansion of the Johan Sverdrup oilfield. The expansion works involve the addition of two subsea templates at Kvitsoy and Avaldsnes with eight wells—seven for oil and one for water injection—linked to existing infrastructure.

GlobalData’s Construction in Norway – Key Trends and Opportunities to 2029 (H2 2025) report provides detailed market analysis, information, and insights into Norway’s construction industry, including –
• Norway’s construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Norway’s construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Norway. It provides –

• Historical (2020–2024) and forecast (2025–2029) 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 our standardized valuation and forecasting methodologies_x000D_

Assess market growth potential at a micro-level with over 600 time-series data forecasts_x000D_

Understand the latest industry and market trends_x000D_

Formulate and validate business strategies using GlobalData's critical and actionable insight_x000D_

Assess business risks, including cost, regulatory and competitive pressures_x000D_

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

– 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

About GlobalData

Contact Us

Table

Table 1: Construction Industry Key Data

Table 2: Norway, Key Economic Indicators

Table 3: Norway, Commercial Construction Output by Project Type (Real % Change), 2020–29

Table 4: Norway, Top Commercial Construction Projects by Value

Table 5: Norway, Industrial Construction Output by Project Type (Real % Change), 2020–29

Table 6: Norway, Top Industrial Construction Projects by Value

Table 7: Norway, Infrastructure Construction Output by Project Type (Real % Change), 2020-29

Table 8: Norway, Top Infrastructure Construction Projects by Value

Table 9: Norway, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29

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

Table 11: Norway, Institutional Construction Output by Project Type (Real % Change), 2020-29

Table 12: Norway, Top Institutional Construction Projects by Value

Table 13: Norway, Residential Construction Output by Project Type (Real % Change), 2020-29

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

Figures

Figure 1: Western Europe, Construction Output (Real % Change), 2023–29

Figure 2: Norway, Construction Output by Sector (Real % Change), 2023–25 and 2026–29

Figure 3: Norway, Risk Summary

Figure 4: Norway, Risk Regional Comparison

Figure 5: Norway, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29

Figure 6: Norway, Construction Output Value, by Sector (Real, $ Million), 2020–29

Figure 7: Norway, Construction Output (NOK Million, 2022 Constant Prices)

Figure 8: Norway, Construction Value Add (NOK Million, 2021 Constant Prices)

Figure 9: Norway, Construction Employment, in Thousands

Figure 10: Norway, Labor cost Index, 2020=100

Figure 11: Norway, Total floor area approved for Construction (1,000m2)

Figure 12: Norway, Construction Production Index, 2021=100

Figure 13: Norway, Construction Projects Momentum Index

Figure 14: Western Europe, Construction Projects Momentum Index

Figure 15: Norway, Commercial Construction Output by Project Type (Real, $ Million), 2020–29

Figure 16: Norway, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 17: Norway, Guest Nights Spent by Foreign Nationals, In Thousands

Figure 18: Norway, Turnover Index of Accommodation and Food Service Activities, 2021=100

Figure 19: Norway, Utility floor space under construction for Accommodation and food service activities (1000m2)

Figure 20: Norway, Industrial Construction Output by Project Type (Real, $ Million), 2020–29

Figure 21: Norway, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 22: Norway, Manufacturing Value Add (NOK Million, 2021 Constant Prices)

Figure 23: Norway, Index of Manufacturing Production, 2021=100

Figure 24: Norway, Total Investments in Manufacturing (NOK, Million)

Figure 25: Norway, Total Export Value (NOK, Million)

Figure 26: Norway, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29

Figure 27: Norway, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 28: Norway, Construction Production Index for Roads and Railways, 2021=100

Figure 29: Norway, Construction Cost Index for Road Construction, 2015=100

Figure 30: Norway, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29

Figure 31: Norway, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 32: Norway, Construction Production Index for Utility Projects, 2021=100

Figure 33: Norway, Oil and Gas Extraction Value Add (NOK Million, 2021 Constant Prices)

Figure 34: Norway, Electricity, Gas and Steam Value Add (NOK Million, 2021 Constant Prices)

Figure 35: Norway, Information and Communication Value Add (NOK Million, 2021 Constant Prices)

Figure 36: Norway, Institutional Construction Output by Project Type (Real, $ Million), 2020-29

Figure 37: Norway, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 38: Norway, Education Value Add (NOK Million, 2021 Constant Prices)

Figure 39: Norway, Health and Social Work Value Add (NOK Million, 2021 Constant Prices)

Figure 40: Norway, Residential Construction Output by Project Type (Real, $ Million), 2020-29

Figure 41: Norway, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 42: Norway, Total Number of Dwelling Completed (Units)

Figure 43: Norway, Total Number of Dwelling Started (Unit, Number)

Figure 44: Norway, Total Number of Dwelling Under Construction (Unit, Number)

Figure 45: Norway, Real Estate Value Add (NOK Million, 2021 Constant Prices)

Figure 46: Norway, Construction Cost Index for Residential Buildings, 2015=100

Figure 47: Norway, Price Index for New Dwellings, 2015=100

Figure 48: Norway, Utility Floor Space of Dwelling Permits, in Thousand m2

Figure 49: Norway, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 50: Norway, Headquarters of Key Consultants (% of Total Project Pipeline)

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