Slovakia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Slovakia Construction Market Report Overview
The Slovakia construction market size was $22.8 billion in 2023. The market will grow at an AAGR of more than 3% during 2025-2028. Investments in infrastructure, energy, and industrial sectors, backed by the European Union (EU) recovery funds, will support the growth of the market during the forecast period.
Slovakia Construction Market Outlook, 2023-2028 ($ Billion)
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The Slovakia construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the Slovakia construction market growth in the coming years.
Market Size (2023) | $22.8 billion |
AAGR (2025-2028) | >3% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
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Slovakia Construction Market Segmentation by Sectors
The residential construction sector accounted for the highest market share in the Slovakia construction market in 2023
The key sectors in the Slovakia construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: Investments in leisure and hospitality, retail, office, warehouse, and logistic projects will drive the commercial sector’s growth over the forecast period. An increase in tourist arrivals in Slovakia can further assist investor confidence to gradually recover in 2025.
Industrial construction: Improvements in export activities and a rise in new orders in industry, coupled with investments in industrial projects, will drive the industrial sector’s growth during the forecast period. Furthermore, the government is focusing on supporting small and medium enterprises (SMEs), as well as providing sufficient loans and subsidies to promote development in the country.
Infrastructure construction: The sector growth will decline in 2024, owing to the high inflation rate and the ongoing opposition against the construction of the Trans-European Transport Network (TEN-T). However, investment in improving railway connectivity and road infrastructure will support the infrastructure sector’s output during the forecast period.
Energy and utilities construction: Investments in the renewable energy sector will drive the sector growth during 2025-2028. Furthermore, the government aims to reduce carbon emissions by 2030 and attend carbon neutrality by 2050. In line with this, the European Commission has approved a support package in December 2023, to support the transition of Slovakia towards the net zero economy.
Institutional construction: Public and private sector investments in the healthcare and educational sectors will fuel the growth of the institutional construction sector during 2025-2028.
Residential construction: Private-sector investments in housing projects is the main factor behind the sector growth in 2024.
Slovakia Construction Market Analysis by Sectors, 2023 (%)
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Slovakia Construction Market - Latest Developments
- In November 2023, Singapore-based GLP (Global Logistic Properties) acquired permits for the construction of a commercial zone. The new commercial zone will be located near Bratislava Airport and will include five energy-efficient buildings for offices and sales showrooms.
- In May 2023, Slovakian Railways awarded a contract to local industrial company ELTRA for the modernization of a certain railway section connecting Humenné, Michalovce, Trebišov, and Košice. This project will involve modernizing and straightening railway lines to increase the maximum speed.
Segments Covered in the Report
Slovakia Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides:
- A comprehensive analysis of the construction industry in Slovakia.
- Historical and forecast valuations of the construction industry in Slovakia, featuring details of key growth drivers.
- Segmentation by sector 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
Figures
Frequently asked questions
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What was the construction market size in Slovakia in 2023?
The construction market size in Slovakia was $22.8 billion in 2023.
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What will the Slovakia construction market growth rate be during the forecast period?
The construction market in Slovakia is projected to achieve an AAGR of more than 3% during 2025-2028.
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Which sector accounted for the highest share of the Slovakia construction market in 2023?
The residential construction sector accounted for the highest market share in the Slovakia construction market in 2023.
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