Summary
Compared to most of its regional peers, the Greek construction industry performed strongly in 2020, despite the Coronavirus (COVID-19) outbreak, as construction sites remained operational throughout the crisis. According to the Hellenic Statistical Authority (ELSTAT), the construction industry’s value-add grew by 10.7% year on year (YoY) in the third quarter of 2020, which was preceded by growth of 24.6% in Q2 and 17.3% in Q1. GlobalData estimates that the industry grew by 14.5% in 2020.
GlobalData expects the country’s construction industry to grow by 3.2% in 2021 and record an average growth rate of 2.2% 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. The government is focusing on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix by 35% over the next 10 years. The plan involves a target of producing 7.7GW of solar PV and 7GW of wind capacity by 2030. To achieve this, the country held renewable energy auctions in July 2020, and awarded 472MW of wind and 142MW of solar power projects.
An increase in building permits will also contribute to the industry’s growth momentum in the early part of the forecast period. According to the ELSTAT, the number of building permits issued in the country registered a double-digit Y-o-Y growth in the first 10 months of 2020. In addition to this, financial assistance from the European Union (EU) will help to support the industry.
This report provides detailed market analysis, information, and insights into the Greek construction industry, including -
- The Greek 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 Greek 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 Greece. It provides -
- Historical (2016-2020) and forecast (2021-2025) 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.
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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 COVID-19 Status
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
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 GlobalData Construction
List of Tables
Table 1: Construction Industry Key Data
Table 2: Greece, Key Economic Indicators
Table 3: Greece, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: Greece, Top Commercial Construction Projects by Value
Table 5: Greece, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Greece, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 7: Greece, Top Infrastructure Construction Projects by Value
Table 8: Greece, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 9: Greece, Top Energy and Utilities Construction Projects by Value
Table 10: Greece, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 11: Greece, Top Institutional Construction Projects by Value
Table 12: Greece, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 13: Greece, Key Contractors
Table 14: Greece, Key Consultants
Table 15: Greece, Construction Output Value (Real, US$ Million)
Table 16: Greece, Construction Output Value (Nominal, EUR Million)
Table 17: GlobalData Construction Market Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2020 and 2021
Figure 2: Greece, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Greece, COVID-19 Confirmed Cases
Figure 4: Greece, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 5: Greece, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: Greece, Construction value-add, 2015 Chain Linked Volume Measures, in EUR Million, % Change YoY
Figure 7: Greece, Gross Fixed Capital Formation in the Construction Sector, 2015 Chain Linked Volume Measures, % Change YoY
Figure 8: Greece, Total Number of Building Permits, % Change YoY
Figure 9: Greece, Construction Projects Momentum Index
Figure 10: Greece, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 11: Greece, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 12: Greece, Tourist Arrivals and Travel Receipts, % Change YoY
Figure 13: Greece, Retail Trade Volume and Turnover Indices, 2015=100, % Change YoY
Figure 14: Greece, New Commercial Building Permits
Figure 15: Greece, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 16: Greece, Industrial and Manufacturing Production Indices, Seasonally Adjusted, 2015=100, % Change YoY
Figure 17: Greece, IHS Markit Manufacturing Purchasing Managers’ Index (PMI)
Figure 18: Greece, Total Exports, in EUR Million, % Change YoY
Figure 19: Greece, New Manufacturing Building Permits
Figure 20: Greece, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 21: Greece, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 22: Greece, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 23: Greece, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 24: Greece, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 25: Greece, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: Greece, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 27: Greece, GFCF in Dwellings, 2015 Chain-Linked Volume Measures, % Change YoY
Figure 28: Greece, Apartment Price Index, 2007=100, % Change YoY
Figure 29: Greece, FDI in Greek Real Estate, in EUR Million, % Change YoY
Figure 30: Greece, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: Greece, Headquarters of Key Consultants (% of Total Project Pipeline)
