Dublin, Feb. 28, 2025 (GLOBE NEWSWIRE) -- The "Lithuania Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)" report has been added to ResearchAndMarkets.com's offering.
Lithuania construction industry to grow by 4% in real terms in 2025, supported by increase in civil engineering activities and improvement in non-residential building construction, coupled with public and private sector investments in the infrastructure, and energy sectors.
According to the Oficialiosios Statistikos Portalas (OSP), the construction industry's value add rose by 5.7% year on year (YoY) in the first three quarters of 2024, rising from EUR2.6 billion ($2.8 billion) in January-September 2023 to EUR2.8 billion ($2.9 billion) in January-September 2024. According to Eurostat, the construction production volume index grew by 5.8% YoY in the first three quarters of 2024, preceded by an annual growth of 12.4% in 2023.
Over the remainder of the forecast period, the Lithuanian construction industry is expected to register an average growth of 4.3% from 2026 to 2029, supported by investments in energy, transport infrastructure, and industrial sectors, coupled with the government plan to achieve net zero emission by 2050. In line with this, in December 2024, the European Commission (EC) disbursed EUR463 billion ($492.4 million) for the implementation of "New Generation Lithuania" which outlines the investment in the energy, infrastructure, and social sectors to improve the overall economy by 2026.
Furthermore, in October 2024, the government owned electricity and gas transmissions service provider, EPSO-G revealed that it is planning to invest an estimated EUR3 billion ($3.2 billion) to improve the electricity and gas infrastructure in the country by 2035. Among the recent development, in October 2024, the construction work was started on a wind project in Telsiai. The project includes the construction of 124MW wind farm with an estimated cost of EUR200 million ($212.7 million) by the end of 2026.
Additionally, in September 2024, the UK based energy company Aur power revealed that the technical design of a solar park in Dukstas is nearing completion and it expects to gain the permits for this park by the middle of 2025. The project involves the construction of a 375MW solar park on an area of 900ha and is expected to go operational by 2028.
Scope
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Lithuania, 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 our 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 business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Latest news and developments
4 Project analytics
5 Construction Market Data
6 Risk Profile
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/rc05s
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