Latvia Construction Industry Report 2026: Output To Expand By 3.9% This Year Before Registering An AAGR Of 3.2% During 2027-2030, Driven By Investments In Transport And Renewable Energy

(MENAFN- GlobeNewsWire - Nasdaq) Key market opportunities in Latvia's construction industry include expanding transport, housing, and energy projects, spurred by government and international investments. The focus on renewable energy and infrastructure supports sustainable growth, presenting significant potential for stakeholders in these sectors.

Dublin, April 08, 2026 (GLOBE NEWSWIRE) -- The "Latvia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2030 (H1 2026)" report has been added to ResearchAndMarkets's offering.
The construction industry in Latvia is expected to expand in real terms by 3.9% in 2026, supported by investments in transport, housing, and energy projects.

According to the Central Statistical Bureau (CSB), the volume of output for the construction of roads and railways grew by 22.9% year-on-year (YoY) in the third quarter of 2025, preceded by growths of 31.5% in Q2 and 90.9% in Q1 2025. Furthermore, in early October 2025, Saeima, parliament of the Republic of Latvia, approved the 2026 Budget, with an expenditure of EUR17.9 billion ($19.5 billion), compared to an expenditure of EUR17.1 billion ($18.7 billion) in 2025.

The budget includes an allocation of EUR1.9 billion ($2.1 billion) for the Ministry of Health, EUR796.9 million ($870.2 million) for the Ministry of Transport, EUR606.7 million ($662.5 million) for the Ministry of Education and Science, and EUR85.8 million ($93.7 million) for the Ministry of Climate and Energy.
The industry is expected to register an average annual growth of 3.2% from 2027 to 2030, supported by investments in transport and renewable energy infrastructure projects.

The government aims to reduce greenhouse gas emissions by 65%, compared to 1990 levels, by 2030 and achieve climate neutrality by 2050. To support this target, Latvia plans to increase the capacity of renewable energy infrastructure across the country. Recently, in October 2025, the European Bank for Reconstruction and Development (EBRD), announced its plan to provide a EUR32 million ($34.9 million) loan for the development of 112MW Smiltene wind farm in northern Latvia.

The project is part of the larger EUR92 million ($100.5 million) co-financed package with Luminor Bank, which is an Estonia based Bank, and the Nordic Investment Bank, which is a Finland based financial institution. The construction works are expected to be completed by early 2027. The investment strengthens Latvia's energy security, advances its green transition, and aligns with its goal of 80% renewable electricity by 2030, while contributing to Baltic regional energy integration.

Report Scope

• Historical (2021-2025) and forecast (2026-2030) valuations of the construction industry in Latvia, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
• Assess market growth potential at a micro-level with over 600 time-series data forecasts
• Understand the latest industry and market trends
• Formulate and validate business strategies using the analyst's critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors

Key Topics Covered:
1. Executive Summary
2. Construction Industry: At-a-Glance
3. Latest news and developments
4. Project analytics
5. Construction Market Data
6. Risk Profile
7. Appendix
For more information about this report visit

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