In 2022, the Switzerland construction market exhibited strong figures as it reached a size of $93.6 billion. Looking ahead, the market is poised for a steady ascent. Current predictions a projected Average Annual Growth Rate (AAGR) exceeding 1% from 2024 to 2027. It’s quite an optimistic trajectory that’s fueled by strategic investments in crucial sectors, notably transport and renewable energy infrastructure projects. The construction landscape in Switzerland is diverse and there’s feverish activity across its entire ecosystem – commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction and finally residential construction.
Within the commercial construction realm, diverse project types unfold that range from leisure and hospitality buildings to office spaces, outdoor leisure facilities and retail buildings. Despite an anticipated dip in the current year, the commercial construction sector is anticipated to rebound strongly over the upcoming years. Forecasts indicate an annual average growth surpassing 2% from 2024 to 2027. Contributing factors include a gradual resurgence in tourism activities and government investments in tourism-centric projects.
The industrial construction sector, covering chemical and pharmaceutical plants, manufacturing facilities, and waste processing plants, also experienced struggles in 2023 for several reasons, chief among which were the ongoing energy crisis and supply chain disruptions. However, a resilient recovery is expected. This rebound will be propelled by the gradual revival of many industrial and manufacturing activities across the nation as investments resume their flow into manufacturing plants and factories. Similarly, infrastructure construction is undergoing a shift due to escalating construction costs and labor shortages, resulting in the slowing down of rail and road projects. As with the previous sectors, we’re anticipating a strong revival in the period 2024-2027. The Swiss government has greenlit several projects to enhance railway connectivity as well as upgrade road infrastructure.