Greece and Portugal Surety Market is expected to reach US$ 142.93 Million by 2031

Rise in EU Funding and Public Projects to Fuel Greece and Portugal Surety Market Growth During Forecast Period

According to our latest study, "Greece and Portugal Surety Market Size and Forecast (2021–2031), Regional and Country Share, Trend, and Growth Opportunity Analysis – by Bond Type, End User and Country," the market was valued at US$ 105.86 million in 2024 and is expected to reach US$ 142.93 million by 2031; it is estimated to register a CAGR of 4.3% during 2025–2031. The report includes growth prospects owing to the current Greece and Portugal surety market trends and their foreseeable impact during the forecast period.

Portugal has secured significant financial support from the European Union to drive national development and economic progress. Under the "Portugal 2030" initiative—a strategic partnership between the Portuguese government and the European Commission—the country will receive € 23 billion (US$ 26.2 billion) in EU funds allocated for 2021–2027. These resources are channeled through various regional and thematic programs aimed at promoting innovation, infrastructure development, and regional cohesion. Similarly, as stated by the International Trade Administration, the European Union's Recovery and Resilience Facility (RRF), launched in 2021, plays a pivotal role in Greece's economic transformation. Under the national recovery plan known as "Greece 2.0", Greece is set to receive more than € 37 billion (US$ 42.2 billion) in grants and loans by 2026. These funds are earmarked for key areas such as green energy transition, digital transformation, workforce development, private sector stimulation, and broader economic restructuring.

Greece and Portugal Surety Market Analysis — by Geography

Source: The Insight Partners Analysis

In Portugal, the allocation of € 23 billion (US$ 26.2 billion) across multiple public sector initiatives—including infrastructure, sustainable development, and regional enhancement—creates a robust pipeline of projects that typically require bid bonds, performance bonds, and advance payment guarantees. These surety instruments are essential to safeguard project execution and compliance with EU procurement standards, especially in public-private partnerships (PPPs) and municipal developments. In Greece, the € 37 billion (US$ 42.2 billion) under the Recovery and Resilience Facility is set to flow into transformative sectors such as green energy, digital infrastructure, and upskilling programs. These initiatives not only attract domestic and international contractors but also require them to offer surety bonds as a condition for project awards. This demand is particularly strong in renewable energy and digital infrastructure developments, where risk mitigation and financial guarantees are a prerequisite for participation. Moreover, as both nations mobilize these funds, private sector involvement becomes increasingly vital. Developers, suppliers, and investors working on EU-backed initiatives must meet higher financial and compliance standards, further driving the surety market growth.

Atradius NV, Zurich Insurance Group AG, COFACE SA, Allianz SE, Chubb Ltd, Generali Group, Mapfre SA, AZUAGA SEGUROS, CESCE, and Groupama Group are among the key players profiled in the Greece and Portugal surety market report. Other major players were also studied and analyzed in the market study to get a holistic view of the market and its ecosystem.

The Greece and Portugal surety market is segmented into bond type and end user. Based on bond type, the surety market is segmented into contract surety bonds and commercial surety bonds. Based on end user, the surety market is bifurcated into individuals and enterprises. In terms of revenue, the enterprises segment held a larger Greece and Portugal surety market share in 2024. In a few industries, enterprises require bonds as part of a project's pre-qualification process to help them eliminate unqualified bidders. Companies that fail to obtain the appropriate bonds during bidding are unlikely to be considered good candidates for the project.

In terms of revenue, Portugal held a larger Greece and Portugal surety market share in 2024. Portugal's surety market is mainly concentrated in the construction and real estate sectors to guarantee the completion of projects. The regulatory framework in Portugal is governed by the Portuguese Insurance and Pension Funds Supervisory Authority (ASF), and the market adheres to EU regulations and standards, ensuring consistency with broader European surety offerings. The surety market in Portugal shares similarities with Greece in terms of its size and focus but has seen growth in recent years owing to the economic recovery. For instance, according to the Portuguese Public Finance Council, the Portuguese economy is expected to grow by ~2% on average until 2028. After slowing down to 1.8% in 2024, growth is projected at 2.4% in 2025 and 2.1% in 2026. Further, the Portuguese surety market faces challenges such as market saturation, with a few large players dominating the sector. This has limited competition and innovation within the market. However, the Portuguese surety market remains essential for supporting key sectors such as construction and real estate.

Contact Us
 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com