Forecast: Production Value of Construction Services in Belgium

From 2013 to 2023, the production value of construction services in Belgium has seen a steady increase, starting from 10.64 billion Euros in 2013 to 15.02 billion Euros in 2023. The trends over these years indicate a varying year-on-year growth, with a significant drop of -10.87% in 2013, followed by moderate growth years and a notable dip in 2018 at -3.08%. Recently, the growth stabilized with a 2.54% increase in 2023.

The average annual growth rate (CAGR) over the past five years (2019-2023) was 3.72%, reflecting a healthy market expansion. Looking forward, the forecast suggests continued upward momentum, projecting a value of 16.82 billion Euros by 2028, although at a slower pace with a 5-year CAGR of 1.8%.

Future trends to watch for include:

• Technological advancements in construction methodologies.
• Sustainability and green building practices gaining prominence.
• Potential regulatory changes impacting the construction industry.
• Economic fluctuations influencing market demand and investment in infrastructure projects.