The production in the civil engineering sector in Belgium stood at 12.2 billion euros in 2023 based on actual data. The year-on-year variation from 2022 to 2023 showed an increase of 7.83%. The compound annual growth rate (CAGR) over the last five years indicates an average annual growth of 2.96%. The data denotes fluctuations, with significant growth periods in years like 2017 and 2019, marked by CAGRs of 6.99% and 9.29%, respectively. However, sharp declines were also observed in 2016 and 2020, reflecting the sector's volatility.
Forecast data from 2024 onward projects steady growth. The production value is expected to increase yearly, reaching 13.85 billion euros by 2028, demonstrating a forecasted 5-year CAGR of 2.02% with an overall growth rate of 10.51%.
Future trends to watch for include:
- The impact of sustainable construction practices on production costs and timelines.
- Government infrastructure investments and their influence on the civil engineering sector demand.
- Technological advancements in construction techniques and materials.
- The sector's response to potential economic fluctuations or recessions.
