Key Market Indicators
**Iceland's Construction Services Production to Hit €400 Million by 2028** Reykjavík, Iceland – Iceland's construction services sector is projected to see significant growth in the coming years. The industry is expected to reach approximately €400 million by 2028, up from around €365 million in 2023. This represents an average annual growth rate of 1.3%. Since 2019, Iceland's supply in this sector has seen a steady increase, averaging a 5.7% rise each year. Despite these gains, Iceland ranked 31st globally in 2023, with Cyprus surpassing it with €365 million in production. Leading the rankings were France, the United Kingdom, and Italy, occupying the second, third, and fourth positions, respectively. **Revenue Growth Forecasted to Reach €590 Million by 2028** In terms of revenue, Iceland's construction services are expected to see a similar growth trajectory. Projections indicate that revenue will climb to €590 million by 2028, up from €539 million in 2023, maintaining an average annual growth rate of 1.3%. Since 2019, the market has grown at an annual rate of 5.6%. Despite this progress, Iceland was positioned 29th in revenue rankings for 2023, with Bulgaria surpassing it at €539 million. As with production, France, the United Kingdom, and Italy were the top performers, taking the second, third, and fourth spots, respectively. These projections underscore the steady growth and expanding market presence of Iceland's construction services sector on the European stage.
