Key Market Indicators
Latvia's civil engineering sector is poised for significant growth, with revenue projected to reach approximately €1.63 billion by 2028. This marks an increase from around €1.47 billion in 2023, reflecting a compound annual growth rate (CAGR) of 1.6%. Since 2010, the Latvian market has seen a steady year-on-year increase of 1.1%. In the 2023 rankings, Latvia held the 26th position, with Lithuania slightly ahead at €1.47 billion. The United Kingdom, France, and Spain occupied the second, third, and fourth spots respectively. In terms of production, Latvia is also expected to hit the €1.63 billion mark by 2028, up from €1.48 billion in 2023, maintaining a similar 1.6% CAGR. Latvian civil engineering supply has also experienced a 1.1% annual increase since 2010. In 2023, Latvia ranked 25th in production, just behind Croatia at €1.48 billion. Germany, France, and Spain were the leading countries in this sector, ranking second, third, and fourth respectively.
