Market Research Report
Construction in Belgium - Key Trends and Opportunities to 2025 (H2 2021)
|Construction in Belgium - Key Trends and Opportunities to 2025 (H2 2021)|
Published: August 17, 2021
Content info: 49 Pages
Delivery time: 1-2 business days
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 -
This report provides a comprehensive analysis of the construction industry in Belgium. It provides -