The analyst expects Chile’s construction industry to grow by 2.5% in real terms in 2025, supported by investments in transport infrastructure, mining, and the energy sector. As trade partners accelerate their pursuits of renewable energy targets, persistent global copper demand positions Chile’s industrial construction sector for growth - industrial output is forecasted to be Chile’s fastest growing sector in 2025 at 5.9%. Markedly, copper prices are rising back to Q2 2024 levels, elevating commodity yields for Chilean suppliers and potential to reinvest in mining operations. Furthermore, Mario Marcel - Chile’s Finance Minister - is welcoming CLP12.1 trillion ($13.3 billion) in aggregate spending from BHP - the Australian iron ore mining company - to accelerate domestic copper production, including the expansion of its copper mine at Escondida by 2032.
Chile’s volatile climate, burden with earthquakes and blackouts, and tight (but improving) fiscal constraints, will somewhat headwind growth. Nevertheless, Chile’s construction outlook is complemented by positive macroeconomic trends and resilient domestic demand. According to the Banco Central de Chile, construction value-add grew marginally by 0.5% year-on-year (YoY) in Q3 2024, preceded by a YoY growth of 1.5% in Q2 and a decline of 0.3% in Q1 2024. In the latest budget, the government allocated CLP70.6 trillion ($77.5 billion); an increase of 2% compared to 2024. In the longer term, Chile’s construction industry is expected to grow at an annual average growth rate of 4.6% between 2026-29, supported by investment in energy, transportation, and mining sectors. In January 2025, the Ministry of Public Works announced an investment plan to develop Rapa Nui Island. The plan includes the construction of two new roads, IPA 1 and IPA 2, totalling 41km by March 2026. With a total investment of CLP14 billion ($15.4 million).
Chile’s volatile climate, burden with earthquakes and blackouts, and tight (but improving) fiscal constraints, will somewhat headwind growth. Nevertheless, Chile’s construction outlook is complemented by positive macroeconomic trends and resilient domestic demand. According to the Banco Central de Chile, construction value-add grew marginally by 0.5% year-on-year (YoY) in Q3 2024, preceded by a YoY growth of 1.5% in Q2 and a decline of 0.3% in Q1 2024. In the latest budget, the government allocated CLP70.6 trillion ($77.5 billion); an increase of 2% compared to 2024. In the longer term, Chile’s construction industry is expected to grow at an annual average growth rate of 4.6% between 2026-29, supported by investment in energy, transportation, and mining sectors. In January 2025, the Ministry of Public Works announced an investment plan to develop Rapa Nui Island. The plan includes the construction of two new roads, IPA 1 and IPA 2, totalling 41km by March 2026. With a total investment of CLP14 billion ($15.4 million).
The Construction in Chile - Key Trends and Opportunities to 2029 (H1 2025) report provides detailed market analysis, information and insights into Chile's construction industry, including:
- Chile’s construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Chile’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
Scope
This report provides a comprehensive analysis of the construction industry in Chile. It provides:
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Chile, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
- Assess market growth potential at a micro-level with over 600 time-series data forecasts
- Understand the latest industry and market trends
- Formulate and validate business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
