101st Euroconstruct Conference: European Construction Market Outlook until 2028 – Europe's Construction Sector Continues to Recover but More Slowly than Expected. Summary Reports

The 101st Euroconstruct Summer Forecast maintains a cautiously optimistic outlook; however, the conflict involving Iran and the resulting tensions in the Strait of Hormuz exert a significant influence on the global economy, energy prices, inflation, and interest-rate trajectories – all of which constrain demand within the construction sector. Consequently, projected construction growth for 2026 has been revised downward relative to earlier forecasts. Construction sub-sectors exhibited markedly divergent trajectories between 2023 and 2025: residential output contracted sharply, non-residential construction remained broadly stable, and civil engineering expanded. Over the 2026-2028 forecast period, all three sub-sectors are anticipated to grow, with civil engineering remaining the strongest performer. With contributions from Radovan Kostelník, Martin Kyed, Vladimír Lenko, Lasse Lundqvist, Amy Mulligan, Pekka Pajakkala, Robin Rich, Markku Riihimäki, Hannelore Vanbilloen.