Belgium Construction Industry Report 2024: Output to Decline by 2% this Year Following Marginal Growth of 0.5% in 2023 - Forecast to 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Belgium Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.

The construction industry in Belgium is expected to decline by 2% in real terms in 2024, following a marginal annual growth of 0.5% in 2023

The industry's output in 2024 will be affected by challenges stemming from high construction costs and high interest rates. According to the Belgian statistical office (STATBEL), the construction output price index rose by 2.4% year-on-year (YoY) in Q1 2024, following an overall annual growth of 6.5% in 2023.

The industry's output in 2024 will however be supported by an investment of EUR1.4 billion ($1.5 billion) by the Belgian electricity network provider Elia. This investment is a part of the company's broader capital expenditure plan of EUR30.1 billion ($31.9 billion) from 2024 to 2028; it is also in line with the company's broader strategy to decarbonise the energy system.

The analyst expects the Belgian construction industry to register an average growth rate of 3% from 2025 to 2028, supported by investments in the transport and renewable energy sectors. In April 2024, the French multinational utility company Engie announced that it plans to invest EUR4 billion ($4.2 billion) in Belgium by 2030, with primary focus on the renewable energy sector, particularly wind power generation.

By the end of this decade, the company plans to double its onshore wind energy capacity from 570MW currently to 1GW, increase its offshore wind capacity to 1GW, and triple its current solar capacity to 300MW by 2030. In another positive development, Belgium and Rwanda signed a new bilateral cooperation agreement 2024-2029, in January 2024. The EUR95 million ($100.7 million) cooperation agreement aims to allocate resources across key sectors such as agriculture, urbanisation and health, and public finance management.

Scope

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Belgium, 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 the analyst'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 the analyst's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

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

For more information about this report visit https://www.researchandmarkets.com/r/peij70

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