Construction in Belgium - Key Trends and Opportunities to 2025 (H2 2021)

Construction in Belgium - Key Trends and Opportunities to 2025 (H2 2021)

Summary

The Belgian construction industry was impacted in 2020, due to the disruptions caused by the Coronavirus (COVID-19) outbreak and the subsequent lockdown measures. The industry contracted by 4.8% in real terms last year, following growth of 4.2% in 2019. However, the industry rebounded in the first quarter of 2021 by registering 5.3% growth year on year (YoY) in Q1 2021 - following four consecutive quarters of contraction - as the government removed major lockdown restrictions across the country. The stronger-than-expected growth in Q1 2021 was supported by significant investments in the housing sector. Moreover, construction activity is expected to accelerate in the next few quarters, supported by higher public spending in infrastructure and clean energy projects, while an improving external environment will boost business confidence in the short term.

GlobalData expects the country’s construction industry to grow by 4.9% in 2021 and record an average growth of 2.4% between 2022 and 2025. The industry’s output will be supported by improving investor confidence and investments in transport, renewable energy, residential and commercial infrastructure projects. In June 2021, the European Commission adopted a positive assessment of Belgium's recovery and resilience plan by disbursing EUR5.9 billion (US$5.9 billion) in grants under the Recovery and Resilience Facility (RRF) and EUR2.9 billion (US$3.4 billion) under the Cohesion policy. The industry’s output will also be supported by the government measures to contain the impact of the outbreak on the manufacturing sector, as well as support for businesses to cope with the outbreak by providing guarantees on loans.

This report provides detailed market analysis, information, and insights into the Belgian construction industry, including -
- The Belgian 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 the Belgian 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 Belgium. It provides -
- Historical (2016-2020) and forecast (2021-2025) 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 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.