After three years of decline, production in the Scandinavian construction market is expected to rise in all three countries, both this year and next. The shift is attributable to falling interest rates in Sweden, a buoyant business climate and relatively stable household finances.
“Expectations regarding increased activity are being confirmed. There were clear signs of improvement in the sector’s order intake throughout the autumn, and forecasts of moderate activity growth going forward therefore appear to be spot on,” says Kristoffer Eide Hoen, Head of Insight and Analysis at Veidekke.
Veidekke anticipates activity growth of 6% in 2026, with growth levelling off to 1% in 2027. In the construction segment, the market is expected to grow across Scandinavia, but more so in Sweden than in Denmark and Norway. The infrastructure segment looks set to remain consistently strong throughout the period.
The forecasts for this year and next are largely in line with Veidekke’s market update from last autumn, although expectations have been increased slightly for 2026 and correspondingly reduced slightly for 2027.
The situation in the Middle East has elevated global economic uncertainty and raised energy prices, with a resulting impact on material and machinery costs in the Scandinavian market. While the initial effects cannot be compared with those seen in the spring of 2022, forecasts of project starts and construction costs will be somewhat less certain than usual for as long as the unrest continues.
The market update is available on the Veidekke website, under Investor Relations/Reports and presentations/Market updates.
For further information, please contact:
Kristoffer Eide Hoen, Head of Insight and Analysis at Veidekke ASA
Tel. +47 976 75 434 | Kristoffer.Eide.Hoen@veidekke.no
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Veidekke is one of Scandinavia’s largest contractors. In addition to undertaking all types of building and civil engineering assignments, the group also maintains roads and produces asphalt and aggregates. Veidekke emphasises stakeholder involvement and local experience. Its annual turnover is approximately NOK 43 billion, and half of its 8,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has posted a profit every year since its inception in 1936.
| Title | File type |
| Presentation market update spring 2026 |