Norway Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Norway Construction Market Report Overview
The Norway construction market size was $81.1 billion in 2022. The market is projected to achieve an AAGR of more than 1% during 2024-2027. The growth is attributed to the increase in investments in the transport and renewable energy sectors.
Norway Construction Market Outlook, 2022-2027 ($ Billion)
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The Norway construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the Norway construction market growth in the coming years.
Market Size (2022) | $81.1 Billion |
AAGR (2024-2027) | 1% |
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 | · Skanska AB
· Implenia AG · Veidekke ASA · Nordstjernan AB · AF Gruppen ASA |
Key Consultants | · Norconsult Holding AS
· Multiconsult ASA · COWI AS · Sweco AB · TUV SUD AG |
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Norway Construction Market Segmentation by Sectors
Residential construction was the leading sector in the Norway construction market in 2022
The key sectors in the Norway construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the residential construction sector was followed by infrastructure construction.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government’s focus on improving regional connectivity through the development of transport infrastructure across the country will drive the sector’s growth over the forecast period.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry will recover over the forecast period owing to investments in multiple pipeline residential projects and private sectors.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The positive developments in renewable energy and a long-term investment portfolio aimed at expanding the oil and gas sector will drive the sector growth between 2024 and 2027.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Factors such as investments in office, data center, and logistics building projects will drive the commercial sector’s growth over the forecast period.
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 and mining sectors, combined with steady progress in the development of battery and hydrogen production projects will drive the sector’s growth during the forecast period.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Factors such as investments in health, education, and museum projects will fuel the growth of this sector in the coming years.
Norway Construction Market Analysis by Sectors, 2022 (%)
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Norway Construction Market - Competitive Landscape
Skanska AB emerged as the leading contractor and Norconsult Holding AS as the leading consultant in the Norway construction market in 2022
A few of the leading contractors in the Norway construction market are:
- Skanska AB
- Implenia AG
- Veidekke ASA
- Nordstjernan AB
- AF Gruppen ASA
Domestic contractors account for most of the project pipeline in the Norway construction market. Firms based in Sweden are the dominant contractors.
Norway Construction Market Analysis by Contractors, 2022 (%)
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A few of the leading consultants in the Norway construction market are:
- Norconsult Holding AS
- Multiconsult ASA
- COWI AS
- Sweco AB
- TUV SUD AG
Consultants with headquarters in Norway are involved in most of the project pipeline by value.
Norway Construction Market Analysis by Consultants, 2022 (%)
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Norway Construction Market - Latest Developments
- In June 2022, the government unveiled a roadmap to drive green industrial growth in the country. The roadmap aims to facilitate faster development of projects within seven areas, including offshore wind, hydrogen, batteries, and the maritime industry.
- In January 2023, the ministry awarded 47 new oil and gas exploration permits to 25 companies for the predefined areas (APA) 2022 licensing round.
Segments Covered in the Report
Norway 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 Norway.
- Historical and forecast valuations of the construction industry in Norway, 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
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Figures
Frequently asked questions
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What was the Norway construction market size in 2022?
The construction market size in Norway was $81.1 billion in 2022.
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What will the Norway construction market growth rate be during the forecast period?
The construction market in Norway is projected to achieve an AAGR of 1% during 2024-2027.
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Which was the leading sector in the Norway construction market in 2022?
Residential construction was the leading sector in the Norway construction market in 2022.
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Which are the leading contractors in the Norway construction market?
The leading contractors in the Norway construction market are Skanska AB, Implenia AG, Veidekke ASA, Nordstjernan AB, and AF Gruppen ASA among others.
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Which are the leading consultants in the Norway construction market?
The leading consultants in the Norway construction market are Norconsult Holding AS, Multiconsult ASA, COWI AS, Sweco AB, and TUV SUD AG among others.
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