{"id":9678,"date":"2026-04-08T08:20:52","date_gmt":"2026-04-08T08:20:52","guid":{"rendered":"https:\/\/www.munich-strategy.com\/european-construction-quarterly-interview-constantin-greiner\/"},"modified":"2026-07-06T12:19:17","modified_gmt":"2026-07-06T12:19:17","slug":"european-construction-quarterly-interview-constantin-greiner","status":"publish","type":"post","link":"https:\/\/www.munich-strategy.com\/en\/european-construction-quarterly-interview-constantin-greiner\/","title":{"rendered":"European Construction Quarterly: “The market is stabilizing, but there is no real recovery yet.”"},"content":{"rendered":"

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Autor<\/h5>\n

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Marisa Els\u00e4\u00dfer<\/strong><\/h6>\n

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European Construction Quarterly: “The market is stabilizing, but there is no real recovery yet.” Interview with Dr. Constantin Greiner<\/h1>\n

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With the latest European Construction Quarterly<\/em>, Munich Strategy provides a concise overview of recent developments in the European construction industry. In this interview, Dr. Constantin Greiner, expert for the construction sector, shares his perspective on key trends, explains why the market is stabilizing but not yet recovering, and outlines where construction companies should focus strategically.<\/h6>\n

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“The market environment has become significantly more challenging \u2013 companies that want to succeed today, must position themselves much more clearly than just a few years ago.”<\/span><\/h4>\n

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Dr. Constantin Greiner, Co-Head Building, Construction & Infrastructure Europe<\/span><\/p>\n

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Mr. Greiner, the new quarterly report has been released. What is the key message<\/strong>?<\/h5>\n
Greiner: <\/strong>The key message is that while markets appear to be stabilizing, we are not yet seeing a real recovery. After several weak quarters, many indicators are no longer deteriorating as sharply, but demand remains fragile, the overall environment is challenging and many market participants continue to act very cautiously.<\/h6>\n

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What are the main drivers behind this development<\/strong>?<\/h5>\n
Greiner:<\/strong> There are three key factors. First, interest rates remain a structural burden, particularly in residential construction. Second, project pipelines at many companies are still thin, as numerous projects have been postponed or halted over the past 12 to 18 months. And third, ongoing uncertainty, both economic and geopolitical, is continuing to dampen investment activity.<\/h6>\n

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Do you see differences between segments<\/strong>?<\/h5>\n
Greiner:<\/strong> Yes, very clearly. Infrastructure and energy-related construction activities are proving relatively robust, mainly driven by public investment and long-term programs. Residential construction, on the other hand, remains under pressure across Europe \u2013 even though demand, especially for affordable housing, remains very strong. Commercial construction sits somewhere in between and is developing quite differently depending on the asset class.<\/span><\/h6>\n

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Where do you currently see the greatest opportunities for construction companies<\/strong>?<\/h5>\n
Greiner: <\/strong>The logic is simple: what matters is where investment is currently taking place.<\/h6>\n
At the moment, we see two main areas in particular:
\nFirst, all activities related to the renewal and expansion of infrastructure across all European regions, especially projects linked to the energy transition.
\nSecond, renovation in the building sector, particularly in the context of energy-efficient refurbishment.<\/h6>\n
At the same time, however, we observe that performance expectations for companies are rising significantly. \u201cValue for money\u201d is becoming the key criterion. Companies that want to capitalize on current opportunities must differentiate much more clearly than they did three years ago. The market environment has become noticeably tougher.<\/h6>\n

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What should companies focus on over the next 6 to 12 months<\/strong>?<\/h5>\n
Greiner: <\/strong>On resilience and competitiveness. That means rigorous cost management, clear strategic positioning and a strong focus on areas where the company can achieve a competitive advantage.<\/h6>\n
Cost reduction is often necessary, but it will not be sufficient on its own.<\/h6>\n
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Finally: are you optimistic<\/strong>?<\/h5>\n
Greiner: <\/strong>Even though there may seem to be little reason for optimism, I remain cautiously optimistic. The structural demand, both in new construction and in renovation, remains strong. At the same time, we are seeing the first slight positive signals, for example in new building permits. However, the key will be ensuring that approved projects are actually implemented and not cancelled again due to sharply rising interest rates.<\/h6>\n
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Thank you very much for your insights!<\/strong><\/h5>\n

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For further insights, detailed market data and strategic implications, please, refer to the full European Building & Construction Quarterly Report<\/strong>:<\/em> To the report<\/span><\/a>.<\/h6>\n

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t<\/strong><\/em> +49 \u2013 89 \u2013 1250 1590
\npresse@munich-strategy.com<\/a><\/span><\/h6>\n

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Dr. Constantin
\nGreiner<\/h6>\n

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India: A Growth Market. India as a growth opportunity for European construction suppliers
\nStudy<\/span><\/a><\/h6>\n

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Strategic Benchmarking: Germany\u2019s 30 Leading Mid-Sized Construction Suppliers
\nBenchmarking<\/a>\u00a0<\/span><\/h6>\n

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Dr. Constantin Greiner, expert for the construction sector, outlines where construction companies should focus strategically. <\/h6>\n","protected":false},"author":5,"featured_media":9682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-9678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t