The success sector stepped on the gas and a new impetus is expectable on a greener slope

The construction industry closed the 2021 year by a massive growth. The production volume of the sector has increased by 13.3 per cent compared to 2020. Of the two main subsectors, the annual growth was 17.1 per cent in construction of buildings and that of other structures including infrastructural developments was 9.1 per cent.

“The growth could be expected and development was assisted by several factors. Firstly the base effect – because in 2020 the annual decline was more than 9 per cent due to the epidemic –, so the growth occurred in comparison with a low level. In addition, as the epidemic-related uncertainty has eased, the willingness to invest and construct has increased significantly” - said Tamás Vida, CEO of KÉSZ Group.

In December 2021, the volume of construction production grew by 29 per cent during one year and by 7.2 per cent compared to the previous month according to KSH's data. Although the detailed annual GDP figures is yet to be waited, in the third quarter of 2021 the added value of the construction industry increased on the production side by 20.1 per cent.

The rise of construction industry is shown by the fact that in the third quarter of 2021 it employed 378 thousand people, which is a record of a decade and means simultaneously that the sector creates jobs for 8 per cent of the total employees, contrary to the 6 to 7 per cent index typical of the period between 2010 and 2020.

Tamás Vida said that digital solutions have gained more and more ground in the growth of the construction industry, in the field of design, construction and operation of buildings and that they make the sector and the structures more efficient and cost-efficient. All this is favorable in terms of sustainability becoming more and more important all over the world, so also in Hungary. KÉSZ Group, which is considered to be a dominant actor of the sector, is more and more integrating environment-friendly solutions during its whole operation.

KÉSZ Group expects a growth based on the preliminary figures for 2021, a growth exceeding more than 30 per cent the 2020 performance.