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 Q2 2024, according to GlobalData’s construction projects database.
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1. Seville Metro Line Expansion
The project involves the expansion of the Seville Metro railway in Sevilla, Andalusia, Spain.
Construction work started in Q2 2024 and is expected to be completed in Q4 2031.
The objective of the project is to reduce traffic congestion and to provide state-of-the-art transportation infrastructure for people in the region.
2. Boden Green Steel Plant
The project involves the construction of a steel manufacturing plant with a capacity of five million tons per annum (MTPA) at Svartbyn industrial park in Boden, Norrbotten, Sweden.
Construction work commenced in Q2 2024 and is expected to finish in Q4 2026.
Once completed, the green steel plant will reduce carbon dioxide emissions by 95% compared to traditional blast furnace steel.
3. Parc Sagunt II Battery Manufacturing Plant
The project involves the construction of the Parc Sagunt II Battery Manufacturing Plant in Valencia, Spain.
Construction work started in Q2 2024 and is forecast to complete in Q4 2026.
The project’s aim is to meet the growing demand for electric batteries for the automobile sector in the country.
4. Høvik Electrolyzer Manufacturing Plant
The project involves the construction of an electrolyzer factory with a 4,500MW consumption capacity on the existing DNV building in Høvik, Norway.
Construction work commenced in Q2 2024 and is expected to be completed in Q4 2026.
5. Cluj-Napoca Metro Line
The Cluj-Napoca subway rail involves the construction of a 21.03km light metro line project in Romania.
Construction work started in Q2 2024 and is expected to be completed in Q4 2031.
The project aims to reinforce the public transport system, providing a faster, more reliable, and environment-friendly mode of transport.
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.
