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 Q1 2024, according to GlobalData’s construction projects database.
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1. U5 Hamburg Subway Line Development
The project involves the construction of the U5 subway line between Bramfeld-City Nord to Arenen Volkspark via Innenstadt in Hamburg, Germany.
Construction work started in Q1 2024 and is expected to be completed in Q4 2035.
The project aims to build a completely independent route and to achieve the greatest possible operational stability. The U5 is the first underground line in Hamburg to be operated driverless, which will enable train sequences of up to 90 seconds.
2. Dieppe-Le Treport Offshore Wind Farm 496 MW
The project involves the construction of a 496MW offshore wind farm about 15km off the coast of Le Tréport and 17km off the coast of Dieppe in Haute-Normandie Region, France.
Construction work commenced in Q1 2024 and is expected to finish in Q4 2026.
The project is a part of the French government’s commitment to building 2GWh of offshore wind per year to supply electricity to 850,000 people annually and reduce CO2 emissions.
3. Houten to Hooipolder Route Improvement
The project involves the upgrade of the 47km road from A27 between Houten to Hooipolder in Utrecht, the Netherlands.
Construction work started in Q1 2024 and is forecast to complete in Q4 2031.
The project aims to improve traffic flow by cutting through traffic in the region. The improvement also ensures better availability of the main road network, a well-designed road with a view to future traffic flows and sufficient alternative routes in the event of emergencies Buy the profile here.
4. Codogno-Cremona-Mantova Doubling Railway Line
The project involves the doubling of an 84km railway line connecting Codogno to Mantua via Cremona in Lombardy, Italy.
Construction work commenced in Q1 2024 and is expected to be completed in Q4 2030.
The project is part of an important intervention for the Lodi area and is considered of strategic value also for the modernization of transport at the national level. It will guarantee significant benefits, both in environmental and economic terms and in transport efficiency, which they will benefit from, in particular, the numerous commuters who use this service every day to get to work.
5. Palos de la Frontera Biofuel Production Plant
The project involves the construction of a biofuel production plant in Palos de la Frontera, Andalusia, Spain.
Construction work started in Q1 2024 and is expected to be completed in Q4 2026.
The project’s aim is to produce renewable diesel sustainable fuel for aviation (SAF; its acronym in English). The project will create 2,000 direct and indirect jobs during the construction and operation phases
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.
