Colliers Denmark Market Report 2024

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INDUSTRIAL & LOGISTICS - COLLIERS MARKET REPORT 2024

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tion, which could affect the demand for industrial and logistics property.

at first glance could be misinterpreted as high produc tion activity in general. An important nuance is that the production index is driven largely by the pharmaceuti cal industry with Novo Nordisk leading the way. In 2023, the company became the most valuable listed company in Europe after robust growth in sales of weight loss and diabetes medicines – growth that has triggered extensive investment plans in several parts of Zealand. The production index, excluding the pharmaceutical industry, has been declining since mid-2022, which, all other things being equal, affects the demand for indus trial facilities, as less is being produced overall if you exclude the pharmaceutical industry.

The need for premises, especially for warehousing and logistics, is related to the fact that Denmark still has exten sive and generally increasing online shopping, meas ured in terms of the number of online purchases and the share of online shopping in total transactions. This is supported by a survey conducted by Statistics Denmark, which shows that 80% of Danes have shopped online within the last three months (data as of early 2023).

As far as the demand for industrial space is concerned, the production index is at a historically high level, which

Danish pharmaceutical industry driving output levels

100 110 120 130 140 150 160 170 180

80 90

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Production index

Production index, discounting the pharmaceutical industry

Note: Seasonally adjusted production index for the Danish industrial sector, index 100 = 2015. Source: Statistics Denmark, Colliers