Fernando de Querol Cumbrera
Research expert covering construction, loans, leasing, savings, and debt
Construction industry in Sweden - statistics & facts
Unlike Sweden’s economy at large, the construction sector has had positive growth rates every year since 2005. That has also been the case through the economic uncertainty of the past four years. Thus, the value of the gross domestic product (GDP) of Sweden's construction industry amounted to 378 billion Swedish kronor in 2023.
The approval of the country's transport infrastructure plan in 2022, which foresees investments until 2033, may be an additional boost for the industry, particularly its civil engineering segment.
Those activities, along with the other construction segments, made a significant contribution to Sweden's GDP, while also ensuring that the country had all the infrastructure, as well as living and commercial spaces necessary for all other sectors to prosper.
Which is the largest Swedish construction company?
In 2022, four Swedish companies made it into the ranking of the 100 largest construction companies in the world: Skanska AB, Peab AB, NCC AB, and JM AB. Skanska was by far the largest of them, with a revenue of over 16 billion U.S. dollars that year. The company has reached that position thanks to its strong presence abroad. In fact, less than a fifth of Skanska’s order bookings in 2023 came from Sweden, with the United States being its largest market. In contrast, most other construction companies from the country were not so active abroad, and if they were, they were mostly focused on the Nordic region.Sweden’s specialized construction sector comes out on top
Although the construction of buildings and infrastructure often gets most of the attention, specialized construction activities made up most of the revenue of the construction industry in Sweden between 2010 and 2020. That segment mostly groups activities that are necessary at the very start or the very end of a construction project. Electrical installation and site preparation were the activities with the largest market share within that segment. Plumbing, heat, and air-conditioning installation followed up closely with a revenue of 7.6 billion euros in 2020.Those activities, along with the other construction segments, made a significant contribution to Sweden's GDP, while also ensuring that the country had all the infrastructure, as well as living and commercial spaces necessary for all other sectors to prosper.
