Summary

In real terms, the Greek construction industry recovered in 2018, after registering a lackluster performance in 2017. This recovery was driven by positive developments in economic conditions, which led to a revival in both investor and consumer confidence. Consequently, the country’s construction industry registered a growth of 7.9% in 2018 in real terms, which was up from 0.4% in 2017. The industry’s output value, measured at constant 2017 US dollar exchange rates, increased from US$12.8 billion in 2017 to US$13.8 billion in 2018.

The industry is expected to continue to expand in 2019, with the industry’s output expected to register growth of 20% in real terms that year. Investment in transport, energy, housing and commercial infrastructure projects is expected to support the industry over the forecast period (2019-2023). The government plans to invest EUR2.8 billion (US$3.2 billion) in transport networks during the period of 2019-2027. The focus on the development of renewable energy infrastructure is also expected to drive industry growth. The government aims to generate 35% of the country’s total gross energy consumption from renewable sources by 2030.

The industry’s output value in real terms is expected to post a compound annual growth rate (CAGR) of 5.92% over the forecast period. The industry is consequently expected to rise from a value of US$13.8 billion in 2018 to US$18.4 billion in 2023, measured at constant 2017 US dollar exchange rates.

Residential construction was the largest market in the Greek construction industry in 2018, accounting for 31.9% of its total value that year. The market is expected to increase its market share over the forecast period, accounting for 33.4% of the industry’s total value in 2023. Infrastructure construction accounted for 27.9% of the industry’s total output in 2018, followed by commercial construction with 18.3%, industrial construction with 9.3%, institutional construction with 6.8% and energy and utilities construction with 5.9%.

The total construction project pipeline in Greece including all mega projects with a value above US$25 million - stands at EUR57.3 billion (US$67.6 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 66.3% of the pipeline value being in projects in the pre-execution and execution stages as of November 2019.

The report “Construction in Greece - Key Trends and Opportunities to 2023” provides detailed market analysis, information and insights into the Greek construction industry, including:

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Greece, 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




Scope

This report provides a comprehensive analysis of the construction industry in Greece. It provides -

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Greece, 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.