Drivers and trends

Drivers and trends for Norva24’s markets

Norva24’s markets are expected to be driven by several factors and market trends. These include, for example, ageing underground infrastructure, climate change, regulative efforts as well as more capacity outsourcing.

Drivers and trends in the underground infrastructure maintenance market

Ageing underground infrastructure
  • Poor state of the underground infrastructure requiring significant maintenance and renovation
  • Ageing underground infrastructure


Years old on average

Climate change
  • Increased extreme weather increases the load on the underground infrastructure networks and requiring more maintenance and higher quality pipes
  • Temperature and rainfall increase set to strain underground infrastructure


increase in rainfall
  • Existing regulations expected to drive higher investment
  • Regulations increase the frequency of maintenance intervals
  • Increasing standards and reporting requirements


of fat separators has regular emptying intervals
Capacity needed
  • Urbanisation placing extra pressure on the outdated underground infrastructure in urban areas, which increases maintenance need


increase in ppl per km sewer
  • Sizeable outsourced UIM market with only ~24% of the services currently insourced
  • No expected change in outsourcing degree in Nordic markets
  • Further outsourcing potential in Germany (e.g. municipalities)


of market insourced

  • Increasing trend for customers to weight ESG criteria
  • Reporting requirements also increasing


weighting in certain tenders

Source: Norva24 Offering Memorandum, 2021