In 2023, Hungary and Portugal led in the number of young high growth enterprises (gazelles) in construction, showcasing significant year-on-year increases of 27.97% and 6.24%, respectively. Lithuania and Romania followed with moderate growth, while Italy saw minimal change. Conversely, the Czech Republic and Norway experienced declines, with the Czech Republic witnessing a decrease of 9.45%. Slovakia and Iceland exhibited promising expansions, with Slovakia showing a notable 9.46% growth, and Iceland a remarkable 18.92% increase. The variance in growth rates highlights differing market dynamics and conditions across these European nations.
Future trends to watch include:
- Potential AI and digitalization impact on construction processes.
- Green building trends driving growth in gazelles focusing on sustainable projects.
- Possible policy changes affecting investment and entrepreneurship in construction sectors.
- Economic fluctuations influencing the demand for residential and non-residential buildings.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Construction of Residential and Non-residential Buildings by Country
| # | 10 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Hungary | 127 | 2023 | +19.81% | +27.97% | View data |
| 2 | 2 Portugal | 111 | 2023 | +3.74% | +6.24% | View data |
| 3 | 3 Lithuania | 72 | 2023 | +5.88% | +2.71% | View data |
| 4 | 4 Romania | 57 | 2023 | +7.55% | +6.3% | View data |
| 5 | 5 Italy | 49 | 2023 | 0% | +0.41% | View data |
| 6 | 6 Czech Republic | 14 | 2023 | 0% | -9.45% | View data |
| 7 | 7 Slovakia | 11 | 2023 | 0% | +9.46% | View data |
| 8 | 8 Latvia | 8 | 2023 | +33.33% | 0% | View data |
| 9 | 9 Norway | 8 | 2023 | 0% | -6.17% | View data |
| 10 | 10 Iceland | 6 | 2023 | +50% | +18.92% | View data |
