The Swedish construction industry will be worth SEK 559.5 billion (€60.3 billion) by 2019, according to Timetric’s Construction Intelligence Centre (CIC).
Residential and commercial markets will drive growth, and increasing public and private sector investments, disposable income, and a growing population will provide an extra boost for the industry, reports CIC.
It is expected to record a 2.49% annual growth rate over the forecast period of 2014 to 2019, down from 3.37% during the review period. As a result, the industry’s value is said to increase by SEK 65.4 billion (€7.05 billion) by 2019. However, CIC noted that uncertain economic developments in the Eurozone and poor economic growth in Norway and Finland will impact on the industry’s development.
Residential was the largest market worth around 46% of the industry’s total value in 2014. The decline in mortgage interest rates along with an increase in disposable resulted in an increase in demand for housing of 3.33%.
Commercial accounted for around 17% of the industry’s total value in 2014 and was the second-largest market in the overall construction industry.