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Finland's construction market is projected to reach a value of €15.4 billion in 2023, with an anticipated growth rate of 1.5%.
The residential sector holds the largest share of the market, accounting for approximately 40% of total construction output.
Infrastructure projects, commercial developments, and renovations are also contributing to the growth of the Finnish construction industry.
The Finnish government is a major stakeholder in the construction market, with procurement spending reaching €4.5 billion in 2022.
The government procures a diverse range of building products and services, including construction materials, equipment, and services.
The main building products and services procured by the Finland:
Prefabricated wooden houses
saunas
insulation materials
wood-based building materials
fire-resistant building materials.
Off-site construction
cold weather construction services
sustainable site development
building energy modeling
project financing.
The Ministry of Finance oversees the government's procurement process.
The Hankintakeskus (Central Procurement Agency) manages the government's procurement activities.
The Finnish Competition and Consumer Authority (FCCA) ensures fair competition in public procurements.
Local construction companies are the primary beneficiaries of government procurement contracts.
International construction companies are increasingly participating in the Finnish market.
Joint ventures between local and international companies are gaining momentum.
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