Fernando de Querol Cumbrera
Research expert covering construction, loans, leasing, savings, and debt
Construction industry in Europe - statistics & facts
All business and human activities are directly affected by the construction industry, making it an essential part of the European economy. Not only does it create new residential, industrial, and commercial buildings for Europeans to work and live in, but it also builds infrastructure, and it maintains and repairs older structures and buildings. In addition to that, in 2023, the construction sector in most European countries made up between four and seven percent of their GDP. There were nevertheless some exceptions to that, such as Albania, which had a higher construction to GDP rate, or Ireland and Greece with a rate below three percent. In absolute numbers, the EU's construction revenue amounted to roughly 2.1 trillion euros in 2022, with specialized construction making up the biggest share of that turnover.
Specialized construction activities
The specialized construction segment encompasses the preparation activities for construction projects (such as foundation work and scaffolding), construction trades, installation of utilities, and finishing activities (such as painting or glazing), among others. In 2022, there were over 229,300 specialized construction companies in Great Britain. Just 791 of those were demolition firms, which is another type of activity included within that segment. Meanwhile, there were over 46,600 electrical wiring and fitting installation firms. The installation of heating, ventilation, and air-conditioning (HVAC) was also an important segment of the construction market.French and German construction companies compared
After China, France was the country with most entries among the ten global construction companies with the highest revenue in 2022. That was indicative of the size of its three major companies: Vinci, Bouygues, and Eiffage, whose revenue put together amounted to over 130 billion U.S. dollars. These companies have an important presence outside their home market, including in Germany. Meanwhile, only one German company made it into that list: Bauer, with a revenue of less than two billion U.S. dollars. Hochtief was not included in that list despite being a very important player because it is owned by the Spanish group ACS. Nevertheless, the value of the construction turnover of France and Germany in 2022 was very similar, with Germany having a slightly larger industry.
