The Eastern European Construction market size is estimated to reach $607.4 billion in 2023, according to a new report by GlobalData Plc. Growing investments in infrastructure developments, renewable energy projects, and residential buildings are likely to lead the Eastern European construction market to grow at a CAGR of 2.5% during 2023-2027.

Eastern European Construction Market Share By Sectors, 2018 – 2027 (%)

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Eastern European Construction Market FAQs

  • What was the global Eastern European construction market size in 2023?

The Eastern European construction market size will be evaluated at $607.4 billion in 2023.

  • What is the Eastern European construction market growth rate?

The construction market in the Eastern European region is expected to grow at a CAGR of 2.5% during 2023-2027.

  • What are the key sectors in the Eastern European construction market?

The key sectors in the Eastern European construction market are commercial construction, energy and utilities construction, industrial construction, infrastructure construction, institutional construction, and residential construction.

  • Which are the key countries in the Eastern European construction market?

The key countries in the Eastern European construction market are Azerbaijan, Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Russia, Slovakia, Slovenia, Turkey, Ukraine, Uzbekistan.

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Eastern European Construction Market Dynamics

GlobalData expects the Eastern European construction industry to contract marginally in 2023, declining by 0.2% in real terms, owing to the deteriorating macroeconomic conditions, with high inflation and a jump in interest rates impacting on new investments. The regional conditions are likely to improve from 2024 with an anticipated annual average growth rate (AAGR) of 3.2% over the forecast period.

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Eastern European Construction Report Highlights

  • The Eastern European Construction market is predicted to grow at a compound annual growth rate of 2.5% over the forecast period. The strong focus on creating a sustainable supply of electricity through the commissioning of new renewable energy projects is likely to remain a key driver for the market growth.
  • The residential construction category in the Eastern European region accounted for the largest share in terms of construction output value in 2023. However, subdued investor and consumer confidence amid rising interest rates and high construction costs are likely to restrain the segmental growth over the predicted timeline.
  • The second place in terms of construction output value in 2023 is captured by the infrastructure construction segment. The regional segmental growth is to be driven by a strong surge of investments in the rail and road infrastructure.
  • Russian construction industry is expected to register the largest regional share in terms of construction output value (Real) in 2023. The Russian construction industry is expected to recover and record an annual average growth of 3.9% between 2025 and 2027, supported by government investment in infrastructure, residential, renewable energy, mining, and healthcare projects, assuming political stability and a continuation of investment flows.
  • The construction industry in the Czech Republic is expected to contract in real terms in 2023, following a growth of 2% in 2022. This is primarily due to continued supply-side disruptions and slowing economic growth across Europe sparked by the Russia-Ukraine conflict which impacted the sectoral growth in the second half of 2022.

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Eastern European Construction Market Scope

GlobalData Plc has segmented the Eastern European construction market report by sectors and countries:

Eastern European Construction Sectors Outlook (Value, $ Million, 2018-2027)

  • Commercial Construction
  • Energy and Utilities Construction
  • Industrial Construction
  • Infrastructure Construction
  • Institutional Construction
  • Residential Construction

Eastern European Construction Countries Outlook (Value, $ Million, 2018-2027)

  • Azerbaijan
  • Belarus
  • Bulgaria
  • Croatia
  • Czech Republic
  • Estonia
  • Hungary
  • Kazakhstan
  • Latvia
  • Lithuania
  • Poland
  • Romania
  • Russia
  • Slovakia
  • Slovenia
  • Turkey
  • Ukraine
  • Uzbekistan

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