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List of Top 7 Construction Companies in Sweden

Published on 03rd August 2023

The construction industry in Sweden holds significant importance as a major contributor to the country's economy, constituting approximately 10% of its Gross Domestic Product (GDP). Projections indicate a continuous growth trajectory, with a Compound Annual Growth Rate (CAGR) of 2.2% anticipated from 2023 to 2027, ultimately reaching a market value of EUR 84 billion by 2027.

 

The residential sector dominates the Swedish construction market. With approximately 40% of the total construction market value, the residential construction sector leads healthily over the commercial and infrastructure sectors.

 

Several key factors are driving the growth of the Swedish construction market:

  • Strong economic growth
  • Escalating demand for housing
  • Increased public investment in infrastructure
  • Urbanization trends

 

The outlook for the future of the Swedish construction industry remains positive. The nation's robust economic growth is expected to persist, fueling the need for new construction endeavors. Additionally, the government's commitment to infrastructure investments creates further opportunities for the construction sector.

 

Noteworthy statistics pertaining to the growth and future prospects of the Swedish construction industry include:

  • The construction market size in Sweden amounted to EUR 75 billion in 2022.
  • An Average Annual Growth Rate (AAGR) exceeding 2% is projected for the period spanning 2024 to 2027.
  • The residential construction sector held a leading position in the Swedish construction market in 2022.
  • Key players in the industry include Skanska, Peab, NCC, JM AB, and Serneke.

 

Furthermore, the Swedish government has outlined plans to invest EUR 5.5 billion in infrastructure development between 2023 and 2030, signaling a continued focus on bolstering the construction sector's growth and contribution to the national economy.

 

This article presents the list of construction companies in Sweden that have a significant market share in the building and infrastructure construction industry in Sweden.

 

Top 7 List of Construction Companies in Sweden

Company

Founded

Headquarter

M-Cap (EUR)

Major projects

Skanska AB

1887

Stockholm

33.6 B

The Turning Torso

Øresund Bridge

Stockholm City Hall

NCC

1904

Stockholm

14.2 B

Karolinska University Hospital

Kista Science City

Malmö Arena

JM AB

1965

Stockholm

12.0 B

Hammarby Sjöstad

Hagastaden

KTH Campus

Serneke

1994

Gothenburg

9.4 B

Lindholmen Science City

World of Volvo

Mölndals Hospital

PEAB

1996

Stockholm

6.3 B

Bus Terminal in Tromsø

Extension of Hudiksvall Hospital

National Archives in Härnösand

Backahill AB

1984

Gothenburg

5.8 B

Volvo Cars Global Headquarters

World Trade Center Gothenburg

Scandic Crown Hotel

WSP

1898

Stockholm

4.4 B

22 Bishopsgate, London

55 Southbank, Melbourne

30 Park Place, New York

 

Skanska AB

Skanska AB is one of the biggest construction companies in Sweden as well as Europe. Founded in 1887, the company has a rich history and extensive experience in various construction projects worldwide. Skanska's headquarters are located in Stockholm, Sweden.

 

Skanska has consistently demonstrated strong financial performance over the years. Its revenue streams come from a diverse range of construction projects, including commercial, residential, infrastructure, and industrial projects. The company's ability to secure large and complex contracts has been a key driver of its revenue growth.

 

Skanska has established a strong international presence with operations in Europe, North America, Latin America, and Asia. This global footprint allows the company to leverage its expertise and experience across different markets, contributing to its sustained growth and profitability.

 

Skanska has been involved in numerous iconic and high-profile projects around the world. Notable examples include the construction of the Karlatornet in Gothenburg, which is the tallest building in the Nordic region, and The Spiral, a distinctive high-rise building in Manhattan, New York. Additionally, Skanska has undertaken large infrastructure projects such as the expansion of Göteborg Landvetter Airport, showcasing its capabilities in handling complex and challenging ventures.

 

├śresund Oresund Bridge between Sweden and Denmark

 

Skanska has a strong focus on innovation and technology to improve construction processes and enhance project efficiency. The company actively invests in research and development to incorporate cutting-edge technologies, such as Building Information Modeling (BIM) and 3D printing, into its projects. This commitment to innovation has allowed Skanska to deliver projects more efficiently, on time, and within budget.

 

NCC AB

NCC AB is another major player in the Swedish construction industry. Founded in 1988 and headquartered in Solna, Sweden, NCC has a strong presence in the Nordic region.

 

NCC operates across several business segments, including construction, infrastructure, property development, and environmental services. This diversification allows the company to balance its revenue streams and reduce risks associated with changes in specific markets.

 

NCC has a strong reputation for delivering large-scale infrastructure projects. The company has been involved in the construction of significant transport infrastructure, such as the Förbifart Stockholm, a major highway tunnel project that enhances transportation in the Stockholm region. This expertise in infrastructure projects has contributed to NCC's recognition as a reliable partner in the public sector.

 

NCC's property development arm focuses on creating sustainable and innovative urban spaces. The company develops residential and commercial properties that integrate modern design and sustainability features. NCC's commitment to quality and sustainability has earned it a loyal customer base and strong market positioning.

 

Malmo Arena, Sweden

 

NCC's long-standing presence in the Nordic region has allowed the company to establish a solid reputation and become a market leader. Its local expertise and understanding of regional construction regulations give it a competitive advantage in securing contracts and executing projects efficiently.

 

NCC emphasizes collaboration and partnerships with clients, stakeholders, and subcontractors. The company's collaborative approach fosters strong relationships and facilitates effective communication throughout the project lifecycle. This teamwork-oriented culture contributes to successful project outcomes and customer satisfaction.

 

JM AB

JM AB is a well-established construction company based in Sweden, founded in 1945. With its headquarters in Stockholm, JM has a strong presence in the Nordic region and is widely recognized for its expertise in residential and commercial property development.

 

JM is primarily focused on residential property development, including apartments, townhouses, and single-family homes. The company has a proven track record of delivering high-quality and innovative residential projects that cater to diverse customer needs and preferences. Its emphasis on creating sustainable and modern living spaces has earned JM a strong reputation in the housing market.

 

One of JM's key strengths lies in its customer-centric approach. The company actively engages with its customers, conducts market research, and takes customer feedback into account while designing and developing its projects. This approach ensures that JM delivers homes that align with the changing lifestyle demands of its target market.

 

JM strategically acquires land and forms partnerships with landowners to secure prime locations for its developments. The company's ability to identify suitable land plots and negotiate favorable deals contributes to its competitive advantage in securing attractive development opportunities.

 

JM has demonstrated financial stability over the years, which is crucial in the cyclical nature of the real estate market. The company's prudent financial management and strong project execution have helped maintain a healthy financial position even during challenging economic periods.

 

Serneke Group AB

Serneke Group AB is a relatively newer construction company compared to some other construction and civil engineering companies in Sweden. Founded in 2002 and headquartered in Gothenburg, Sweden, Serneke has rapidly grown to become a significant player in the construction and real estate industry.

 

Serneke is known for its diverse project portfolio, which includes residential, commercial, and infrastructure projects. The company's versatility allows it to navigate different sectors of the construction market and capitalize on various opportunities.

 

Serneke places a strong emphasis on urban development and revitalization projects. The company actively participates in urban regeneration initiatives that contribute to the transformation of city landscapes and enhance the overall living experience for residents.

 

Serneke is at the forefront of adopting innovative construction techniques and technologies. The company actively explores new construction methods, such as modular construction and digital solutions like BIM, to improve project efficiency, reduce construction time, and enhance cost-effectiveness.

 

While Serneke operates primarily in Sweden, the company has expanded its presence to other Nordic countries, including Norway and Finland. This regional growth strategy allows Serneke to diversify its revenue streams and mitigate risks associated with localized market fluctuations.

 

Serneke fosters a collaborative and entrepreneurial culture within the organization. The company encourages employees to take initiative and contribute ideas to drive innovation and project excellence. This collaborative approach has contributed to Serneke's success and reputation as a dynamic and forward-thinking construction company.

 

PEAB AB

PEAB AB is a major construction and civil engineering company founded in 1959 and headquartered in Solna, Sweden. The company has a broad range of construction-related services, including construction, civil engineering, project development, and infrastructure.

 

PEAB is known for its diversified project portfolio, which includes various construction projects ranging from residential and commercial buildings to infrastructure projects such as roads, bridges, and railway systems. This diversification allows the company to mitigate risks associated with fluctuations in specific sectors and maintain a steady revenue stream.

 

PEAB has established a strong regional presence in the Nordic countries, with operations in Sweden, Norway, Denmark, and Finland. This extensive regional footprint positions PEAB as a key player in the construction industry across the Nordics and provides the company with a competitive advantage when bidding for projects.

 

One of PEAB's core strengths lies in its expertise in civil engineering and infrastructure development. The company has successfully executed large-scale infrastructure projects, showcasing its capabilities in delivering complex engineering ventures. This expertise has earned PEAB recognition as a reliable partner for public sector projects.

 

While we are avoiding sustainability points in this analysis, it's worth mentioning that PEAB places a strong focus on sustainability and quality in its projects. The company incorporates environmentally friendly practices and high-quality standards to deliver long-lasting and efficient constructions.

 

PEAB has demonstrated financial stability over the years, supported by its diversified project portfolio and regional presence. The company's growth strategy includes a mix of organic growth and strategic acquisitions, which has further strengthened its position in the construction market.

 

Backahill AB

Backahill AB is a construction company based in Sweden, known for its expertise in high-quality residential and commercial projects. Founded in 1984, the company has its headquarters in Gothenburg.

 

Backahill specializes in developing high-end residential properties, including apartments, villas, and townhouses. The company focuses on delivering exclusive and well-designed homes that cater to the premium segment of the real estate market.

 

One of Backahill's key strengths is its emphasis on architectural excellence. The company collaborates with renowned architects and designers to create unique and aesthetically pleasing living spaces that stand out in the market.

 

Backahill strategically selects premium locations for its developments. By acquiring land in sought-after areas with good infrastructure and amenities, the company enhances the attractiveness of its projects and adds value to the properties it delivers.

 

Backahill is known for its attention to detail and craftsmanship. The company maintains high standards in construction quality, using premium materials and finishes to ensure that each project meets the expectations of its discerning clientele.

 

Backahill adopts a boutique approach to its projects, working on a limited number of exclusive developments at a time. This approach allows the company to dedicate personalized attention to each project, resulting in meticulous planning and execution.

 

WSP

WSP is a global professional services company providing engineering, design, and environmental consultancy services. While WSP is not native to Sweden (originally founded in Canada), it has a significant presence in Sweden and operates in various sectors, including infrastructure, buildings, transportation, and the environment.

 

WSP offers a wide range of multidisciplinary services across different industries. The company's expertise spans engineering, design, project management, environmental consulting, and more. This breadth of services allows WSP to serve clients with comprehensive solutions for complex projects.

 

WSP operates on a global scale, with a presence in multiple countries, including Sweden. The company leverages its global expertise and knowledge to deliver projects efficiently and bring innovative solutions to local markets.

 

WSP emphasizes a collaborative and integrated approach to project delivery. The company fosters strong partnerships with clients and stakeholders, promoting effective communication and teamwork throughout the project lifecycle. This approach ensures seamless coordination and timely project completion.

 

While we are avoiding sustainability points in this analysis, it's worth mentioning that WSP is committed to sustainability and environmental stewardship. The company actively works to incorporate sustainable practices and green solutions into its projects, helping clients meet their sustainability goals.

 

WSP stays at the forefront of technological advancements in the engineering and construction industry. The company invests in cutting-edge tools, such as Building Information Modeling (BIM) and digital design platforms, to improve project efficiency and deliver optimized solutions.

 

Some other notable EPC companies in Sweden

  • Veidekke Sverige AB
  • Svevia AB
  • Wästbygg Gruppen AB
  • HSB Bostad AB
  • Catena AB

 

Want a detailed company profile?

Are you looking for in-depth insights into the profile, financials, portfolio of projects, and operations expertise of a construction company in Sweden? Get in touch with us today.

 

Why is this list of the largest Sweden EPC/Construction companies important?

This list is important for Building/Project Owners, Clients, Engineers, SubcontractorsConstruction Project Managers, Building Material Suppliers, and Architects. A compiled list of the most reputable and reliable construction companies in Sweden can allow you to identify the best relevant partners and address them directly for your next project.

 

If you want more information on the largest construction/EPC companies in the world, check out our publication here.

 

Looking for ongoing and upcoming construction projects in Sweden?

 

Check out our Global Project and Tender Tracker and explore 200000+ projects from the announcement to the commissioning stages. Also, get verified contact details of project stakeholders to propose associations and new business opportunities.

 

P.S.: Visit our syndicated reports sections to get in-depth insights into the Sweden Renewable Energy Market.

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