Finland Transportation Infrastructure Construction Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 8.85 Billion |
| Market Size (2029) | USD 11.32 Billion |
| CAGR (2024 - 2029) | 5.04 % |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
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Finland Transportation Infrastructure Construction Market Analysis
The Finland Transportation Infrastructure Construction Market size is estimated at USD 8.85 billion in 2024, and is expected to reach USD 11.32 billion by 2029, growing at a CAGR of 5.04% during the forecast period (2024-2029).
Transportation infrastructure facilitates the movement of the public and the country. Furthermore, an increase in urban mobility creates demand for the construction of more transportation projects.
- The transportation infrastructure is driven by modernization, which involves reforming railways and improving and rebuilding roads, bridges, airports, etc. This factor resulted in uninterrupted transit and freight services directly contributing to the region’s economy.
- The demand for transportation infrastructure construction in Finland is driven by the rising personal income of the people, population migration from rural to urban areas, and an increase in travel and tourism.
- In November 2022, according to the sources, the planning phase of the northern part of the eastern bypass in Salo will begin in spring 2023 and end in autumn 2024. The total cost of the 4 km road project (including 8 bridges) is estimated to be EUR 40 million (USD 42.84 million). The Transport Infrastructure Agency of Finland (FTIA) allocated approximately EUR 1 million (USD 1,07 million) for the planning phase for 2023.
- In 2021, the government of Finland has undertaken the railway construction project of Tampere Light Rail. In 2021, the construction of the first 16Km first phase of the railway is assumed to be completed. This railway line will connect the city center to Tampere University Hospital (TAYS) and Hervanta. Phase two will connect with Lielahti and Lentävänniemi and is due for completion by 2025. Artic trams built by Skoda will operate on the line, carrying up to 264 passengers.
Finland Transportation Infrastructure Construction Market Trends
Growth of Travel and Tourism in Finland is driving the need for transportation infrastructure
Finland’s objective is to contribute to the implementation of the 2030 Programme for Sustainable Development (APSD) both at home and globally. In addition, Finland has set itself the ambitious objective of being a carbon-neutral nation by 2035, and the world’s first fossil-free welfare state by 2035. To achieve this, the country needs to strengthen carbon sinks and accelerate emission reductions across all sectors. The STF (National Sustainable Travel Finland) programme was designed for the tourism industry as a means of achieving the sustainable development objectives and climate objectives.
Finland is a rapidly growing travel destination in Northern Europe, attracting an increasing number of international visitors. The Nordic country is famous for its pristine nature and distinct regions, extending from the Helsinki capital area to the northernmost point in Lapland. The travel and tourism industry is important for the growth of the Finnish economy, contributing a share of three percent to the GDP. The number of international tourists in Finland has seen fairly steady growth in the past years, especially in the capital region and in the Finnish Lapland, which appeals to tourists from all over the world. Most non-resident tourists came from the neighboring country Russia, followed by Germany, the United Kingdom, Sweden, and China.
The increasing need for travel and tourism is driving the need for transportation infrastructure construction in Finland. The transportation infrastructure construction is expected to boost the inbound and outbound tourism in Finland.
Demand of Air transportation is driving airport construction in Finland
The air transport sector makes a major contribution to Finland’s economy. There are different ways of measuring air transport’s impact on an economy. There are three major factors to be considered: the jobs and spending generated by airlines and their supply chain, the flows of trade, tourism, and investment resulting from users of all airlines serving the country, and investments and job opportunities from airport infrastructure construction activities. Europe is the largest market for passenger flows to and from Finland, followed by Asia-Pacific and North America.
In June 2022, Helsinki-Vantaa (HEL) Terminal 2, one of the largest airports in northern Europe, is expanding to meet future traffic demand and enhance passenger service. The terminal expansion includes a GBP 1 billion (USD 1.19 billion) investment. In 2021, the renovation of the current arrival and departure halls was completed as part of Terminal 2 expansion. In 2023, the expansion of the airport will be completed along with the ten-year expansion program of the HVTA International Airport. The goal of the expansion project is to strengthen the airport's competitiveness in Europe.
A new hotel is set to open in 2024, with over 700 rooms. It's set to be the biggest hotel in Finland and will be built next door to Terminal 2. It's part of a bigger development project in the airport's city area. The hotel will be 13 stories tall and will cost over GBP 120 million. It is expected to have direct access to Terminal 2 and the airport's train station. The project is being designed by SARC Architects and built by Skanska.
Finland Transportation Infrastructure Construction Industry Overview
The market is relatively fragmented, with a large number of local and International players like A-insinoorit Oy (AINS Group), Skanska AB, Destia, Finnish Transport Infrastructure Agency and YIT. The demand for sustainability and technological advancements in the transport infrastructure market is increasing, and companies in the region are expected to adopt and remain competitive. Evolving technological advancements such as new proptech solutions are driving the market in terms of increased construction projects. The increasing demand for construction infrastructure for transportation, mainly in metros, and sustainability in the region are expected to adopt and remain competitive.
Finland Transportation Infrastructure Construction Market Leaders
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A-insinoorit Oy (AINS Group)
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Skanska AB
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Destia
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Finnish Transport Infrastructure Agency
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YIT
*Disclaimer: Major Players sorted in no particular order
Finland Transportation Infrastructure Construction Market News
- June 2023: NRC Group Finland has been given the green light by the FTA to do some rail work on the Helsinki-Riihimaki-Jarvenpaa railway line, estimated to cost around 3.9 million euros (USD 4.18 million). The work is set to start in July 2023 and finish in December 2025.
- November 2022: The planning phase of the northern part of the eastern bypass in Salo will begin in spring 2023 and end in autumn 2024. The total cost of the 4 km road project (including 8 bridges) is estimated to be EUR 40 million (USD 42.84 million). The Transport Infrastructure Agency of Finland (FTIA) allocated approximately EUR 1 million (USD 1,07 million) for the planning phase for 2023.
Finland Transportation Infrastructure ConstructionMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Construction of roads, bridges and highways under government initiative promote the market growth
4.2.2 Growth in waterways and ports infrastructure driving the market
4.3 Market Restraints
4.3.1 Operational Cost
4.4 Market Opportunities
4.4.1 Technological Innovations
4.5 Value Chain / Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Modes
5.1.1 Roadways
5.1.2 Railways
5.1.3 Airports
5.1.4 Ports and Inland Waterways
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 A-insinoorit Oy (AINS Group
6.2.2 Skanska AB
6.2.3 Destia
6.2.4 Finnish Transport Infrastructure Agenc
6.2.5 YIT
6.2.6 Strabag SE
6.2.7 Colas
6.2.8 Tallqvist
6.2.9 AFRY
6.2.10 SRV*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
Finland Transportation Infrastructure Construction Industry Segmentation
Transportation infrastructure refers to the network that enables the transportation system. Transport infrastructure refers to the fixed facilities, infrastructure, and networks that support the transportation of people and goods.
The report provides a comprehensive background analysis of the market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the competitive landscape of the industry.
Roads, railways, ports, and airports are all part of it. The market is segmented by modes (roads, railways, airports, ports and inland waterways). The report offers market size and forecasts for the Finland transportation infrastructure construction market in value (USD) for all the above segments.
| By Modes | |
| Roadways | |
| Railways | |
| Airports | |
| Ports and Inland Waterways |
Finland Transportation Infrastructure ConstructionMarket Research FAQs
How big is the Finland Transportation Infrastructure Construction Market?
The Finland Transportation Infrastructure Construction Market size is expected to reach USD 8.85 billion in 2024 and grow at a CAGR of 5.04% to reach USD 11.32 billion by 2029.
What is the current Finland Transportation Infrastructure Construction Market size?
In 2024, the Finland Transportation Infrastructure Construction Market size is expected to reach USD 8.85 billion.
Who are the key players in Finland Transportation Infrastructure Construction Market?
A-insinoorit Oy (AINS Group), Skanska AB, Destia, Finnish Transport Infrastructure Agency and YIT are the major companies operating in the Finland Transportation Infrastructure Construction Market.
What years does this Finland Transportation Infrastructure Construction Market cover, and what was the market size in 2023?
In 2023, the Finland Transportation Infrastructure Construction Market size was estimated at USD 8.43 billion. The report covers the Finland Transportation Infrastructure Construction Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Finland Transportation Infrastructure Construction Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Finland Transportation Infrastructure ConstructionIndustry Report
Statistics for the 2024 Finland Transportation Infrastructure Construction market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Finland Transportation Infrastructure Construction analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
