Construction in Belgium – Key Trends and Opportunities to 2024

Prior to the COVID-19 outbreak, GlobalData expected Belgium’s construction industry to grow by 3.1% in 2020. However, with the emergence of the pandemic and the stringent measures taken by the government to contain the spread of the virus, the construction industry is now set to contract by 4.5% in 2020. Furthermore, downward revisions are likely if activity in the short term is more severely disrupted than currently anticipated.

According to the National Bank of Belgium (NBB), the country’s construction industry contracted by 2.6% year-on-year (y-o-y) in the first quarter of 2020, and the construction industry is expected to have contracted further in the second quarter, reflecting the lockdown measures imposed throughout April and May 2020.

Construction activities in the country were disrupted, as construction companies closed sites in response to the pandemic. Since April 2020, however, work has resumed on many projects, including the renovation of the Léopold II tunnel. In May 2020, the Flemish ministry of Mobility and Public Works announced plans to invest EUR2.2 billion (US$2.5 billion) on 924 minor and major projects this year. The government expects that investments on these projects will help in boosting the road and hydraulic engineering sector, thereby contributing to the overall economy. Thus, over the remaining part of the forecast-period (2021-2024), GlobalData expects industry output to register an average annual growth of 2.7%

This report provides detailed market analysis, information and insights into Belgium’s construction industry, including –

– Belgium’s 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 Belgium’s 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 (2015-2019) and forecast (2020-2024) 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.

Table of Contents

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

4.1.1. Outlook

4.1.2. Latest news and developments

4.1.3. Construction Projects Momentum Index

4.2. Commercial Construction

4.2.1. Outlook

4.2.2. Project analytics

4.2.3. Latest news and developments

4.3. Industrial Construction

4.3.1. Outlook

4.3.2. Project analytics

4.3.3. Latest news and developments

4.4. Infrastructure Construction

4.4.1. Outlook

4.4.2. Project analytics

4.4.3. Latest news and developments

4.5. Energy and Utilities Construction

4.5.1. Outlook

4.5.2. Project analytics

4.5.3. Latest news and developments

4.6. Institutional Construction

4.6.1. Outlook

4.6.2. Project analytics

4.6.3. Latest news and developments

4.7. Residential Construction

4.7.1. Outlook

4.7.2. Project analytics

4.7.3. Latest news and developments

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

8 About GlobalData

8.1. GlobalData Construction

8.2. Disclaimer

8.3. Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Belgium, Key Economic Indicators

Table 3: Belgium, Commercial Construction Output by Project Type (real % change), 2015-2024

Table 4: Belgium, Top Commercial Construction Projects by Value

Table 5: Belgium, Industrial Construction Output by Project Type (real % change), 2015-2024

Table 6: Belgium, Top Industrial Construction Projects by Value

Table 7: Belgium, Infrastructure Construction Output by Project Type (real % change), 2015-2024

Table 8: Belgium, Top Infrastructure Construction Projects by Value

Table 9: Belgium, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024

Table 10: Belgium, Top Energy and Utilities Construction Projects by Value

Table 11: Belgium, Institutional Construction Output by Project Type (real % change), 2015-2024

Table 12: Belgium, Top Institutional Construction Projects by Value

Table 13: Belgium, Residential Construction Output by Project Type (real % change), 2015-2024

Table 14: Belgium, Top Residential and Mixed-Use Construction Projects by Value

Table 15: Belgium, Key Contractors

Table 16: Belgium, Key Consultants

Table 17: Belgium, Construction Output Value (Real, US$ Million)

Table 18: Belgium, Construction Output Value (Nominal, EUR Million)

Table 19: GlobalData Construction Market Definitions

Table 20: Construction Risk Index Ratings and Scores

List of Figures

List of Figures

Figure 1: Western Europe, Construction Output (real % change), 2020

Figure 2: Belgium, Construction Projects Pipeline by Sector (US$ Billion)

Figure 3: Belgium, COVID-19 Confirmed Cases

Figure 4: Belgium, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2015-2024

Figure 5: Belgium, Construction Output Value, by Sector (Real, US$ Million), 2015-2024

Figure 6: Belgium, Construction Value-Add (EUR Million, 2015 chained prices)

Figure 7: Belgium, Construction Production Index (2015=100)

Figure 8: Belgium, Gross fixed capital formation (EUR Million)

Figure 9: Belgium, Total Number of New Building Permits Issued

Figure 10: Belgium, Number of Unemployed Job-Seekers

Figure 11: Belgium, Construction Projects Momentum Index

Figure 12: Belgium, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 13: Belgium, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 14: Belgium, Retail Trade Turnover Value Index (2015=100)

Figure 15: Belgium, Wholesale and retail trade, transport, accommodation and food service activities value-add (EUR Million, 2015 chained prices)

Figure 16: Belgium, Total Tourist Arrivals (In thousands)

Figure 17: Belgium, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 18: Belgium, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 19: Belgium, Industrial and Manufacturing Production Index (2015=100)

Figure 20: Belgium, Manufacturing Value-Add (EUR Million, 2015 chained prices)

Figure 21: Belgium, Total Export (EUR Million)

Figure 22: Belgium, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 23: Belgium, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 24: Belgium, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 25: Belgium, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 26: Belgium, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 27: Belgium, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 28: Belgium, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024

Figure 29: Belgium, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 30: Belgium, Real Estate Activities Value-Add (EUR Million, 2015 chained prices)

Figure 31: Belgium, Total Number of Dwelling Permits Issued

Figure 32: Belgium, Housing Price Index (2015=100)

Figure 33: Belgium, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 34: Belgium, Headquarters of Key Consultants (% of Total Project Pipeline)

Figure 35: GlobalData at a Glance

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