The construction market in Europe is forecasted by GlobalData to decline by 2.8% in real terms in 2024, having grown by -2.8% in 2023. A key growth market will be the infrastructure market, with output rising by -2.8% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega projects in Europe, costing over $100m each.Here are the five largest construction projects initiated in Europe during Q3 2024, according to GlobalData’s construction projects database.
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1. Norfolk Vanguard Offshore Wind Farm 2800 MW
The project involves the construction of a 2,800MW offshore wind farm in Norfolk Coast, the UK.
Construction work started in Q3 2024 and is expected to be completed in Q2 2031.
The project aims to meet the electricity demand for around 1.3 million UK houses. Buy the profile here.
2. Eastern HVDC Transmission Line
The project involves the construction of two subsea links with a combined capacity of 4,000MW high voltage direct current (HVDC) connecting the east of Scotland down to two points in the northeast of England in the UK.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2029.
The main aim of the project is to achieve zero net greenhouse gas emissions by 2050 and to supply power to four million homes in the region. Buy the profile here.
3. VENERGY+ Lithium Battery Manufacturing Plant
The project involves the construction of the VENERGY+ lithium battery manufacturing plant in the town of Navalmoral de la Mata, Cáceres, Extremadura, Spain.
Construction work started in Q3 2024 and is forecast to complete in Q4 2028.
The project’s aim is to manufacture zero-emission batteries for electric vehicles. The factory will receive 100% energy from renewable sources. Moreover, the company will be establishing a local battery industry ecosystem that encompasses smart EV charging, battery recycling, and other related technological innovations for the different phases of the battery lifecycle. Buy the profile here.
4. FIN04 Data Center
The project involves the construction of a 53,000m2 data center on 24ha of land in Ummeljoki near the Kymijoki beach in Kouvola, Kymenlaakso, Finland.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2026.
In 2018, AtNorth bought site the site from Redeve Oy.
5. Stade LNG Import Terminal Development
The project involves the construction of a LNG terminal at the Stade Industrial Park situated on the banks of Elbe River, Lower Saxony, Germany.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
