Market Research Report
Construction in Greece - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||268675|
|Published||Content info||52 Pages
Delivery time: 1-2 business days
|Construction in Greece - Key Trends and Opportunities to 2024|
|Published: November 30, 2020||Content info: 52 Pages||
The Greek construction industry continued to maintain strong growth momentum in 2019, with the industry expanding by 12.3% in real terms - up from the 7.9% growth recorded in the previous year. The industry had a good start in 2020 despite the virus outbreak, as construction sites remained operational throughout the crisis. According to the Hellenic Statistical Authority (ELSTAT), the construction industry's value-add grew by 27.1% year on year (YoY) in Q2 2020, and 18.4% YoY in the previous quarter. GlobalData expects the industry to have slowed down in the second half; the industry faces a potential downside risk from the resurgence of COVID-19 cases and the subsequent three-week nationwide lockdown re-imposed in early November. Increased spending in response to the pandemic is expected to further widen the government's fiscal deficit, with the country already having the highest government-debt-to-GDP ratio (187.4%) in the European Union (EU) at the end of Q2 2020.
Over the remaining part of the forecast period (2021-2024), the industry is expected to register an average annual growth rate of 2.5%, supported by investments on 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 consumption mix by 35% over the next ten 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.
GlobalData's Construction in Greece - Key Trends and Opportunities to 2024 report provides detailed market analysis, information, and insights into the Greek construction industry, including -
This report provides a comprehensive analysis of the construction industry in Greece. It provides -