The production in the construction of roads and railways sector in Belgium has shown fluctuating trends from 2013 to 2023. In 2023, the sector stood at 3.85 Billion Euros. While there was a noticeable peak in 2017 and 2019, showing a general positive incline, the last two years, 2022 and 2023, have seen a slight decline in year-on-year growth by -0.32%. The CAGR over the last 5 years also indicates a negative trend with an average annual decline of -0.93%.
Looking forward, the forecasted data suggests a steady decrease in sector production, with the forecasted CAGR for the next 5 years reflecting a -2.49% decline. By 2028, the production value is expected to fall to 3.29 Billion Euros, portraying a -11.86% overall reduction from 2023.
Future trends to watch for:
- Potential impact of infrastructure funding and policy changes.
- Technological advancements and their adoption in construction methods.
- Effects of economic conditions and construction material costs.
- Environmental regulations and sustainable construction practices.
