CURRENT CHALLENGES IN THE EUROPEAN CONSTRUCTION SECTOR: A THEORETICAL APPROACH

Abstract

Increasing project complexity, low technological progress, extensive regulations, and market fragmentation result in low returns on capital employed in the European construction industry. Using a theoretical approach in shape of literature review and document analysis, the main challenges, which are faced by the European construction sector, have been identified and analysed. Through the main findings, the low digitalization level, the transition phase, the lack of human resources or the skills mismatch can be accounted as actual challenges, which this industry has to face. The current work could act as a starting point for the competent institutions and state organizations of the building industry in adopting the necessary measures to boost this sector`s performance.

Keywords

• european construction sector
• productivity
• digitalization
• innovation