The Spanish construction industry is expected to grow in real terms by 4.5% in 2026, supported by investments in transport infrastructure and renewable energy projects, and rising building permits. According to Eurostat, the total authorized floor area of the building index grew by 6% year on year (YoY) in the first ten months of 2025. This further collectively resulted in fueling business confidence. According to the Instituto Nacional de Estadística (INE) estimates, the harmonized business confidence index is projected to grow by 1.3% YoY in Q1 2026, preceded by annual growth of 2.2% in 2025. However, rising construction material costs, coupled with budget delays, and the US tariff impositions, can result in a downside risk to the construction industry over the short term.
The construction industry in Spain is expected to register an average annual growth of 3% from 2027 to 2030, supported by investments in the development of renewable energy, transport infrastructure, and industrial projects. Growth in renewable energy construction will be supported by the government’s plan to generate 81% of its electricity from renewables by 2030 compared to 55.5% in 2025. Furthermore, the government is aiming to increase the green hydrogen production capacity to 12GW by 2030, and 2.5% of all transport fuel to be green hydrogen over the period. This will increase the construction of green hydrogen production factories in Spain. To achieve this target, earlier in October 2025, the Spanish Hydrogen Association (AeH2) released updated AeH2 Projects Census 2025 that includes a total of 399 hydrogen projects, involving a total investment of EUR33 billion ($37.3 billion). Of the total, EUR2.8 billion ($3.2 billion) comes from public funding. Additionally, Spanish energy firm Forestalia’s focus on the construction of three data centers in the province of Zaragoza by the end of 2030 with a total investment of EUR12 billion ($13.9 billion) will bolster the data center market. Also, in mid-February 2026, the government allocated EUR1.7 billion ($2.2 billion) for the modernization of the railway network in Catalonia by 2030.
The construction industry in Spain is expected to register an average annual growth of 3% from 2027 to 2030, supported by investments in the development of renewable energy, transport infrastructure, and industrial projects. Growth in renewable energy construction will be supported by the government’s plan to generate 81% of its electricity from renewables by 2030 compared to 55.5% in 2025. Furthermore, the government is aiming to increase the green hydrogen production capacity to 12GW by 2030, and 2.5% of all transport fuel to be green hydrogen over the period. This will increase the construction of green hydrogen production factories in Spain. To achieve this target, earlier in October 2025, the Spanish Hydrogen Association (AeH2) released updated AeH2 Projects Census 2025 that includes a total of 399 hydrogen projects, involving a total investment of EUR33 billion ($37.3 billion). Of the total, EUR2.8 billion ($3.2 billion) comes from public funding. Additionally, Spanish energy firm Forestalia’s focus on the construction of three data centers in the province of Zaragoza by the end of 2030 with a total investment of EUR12 billion ($13.9 billion) will bolster the data center market. Also, in mid-February 2026, the government allocated EUR1.7 billion ($2.2 billion) for the modernization of the railway network in Catalonia by 2030.
The Construction in the Spain - Key Trends and Opportunities to 2030 (Q1 2026) report provides detailed market analysis, information, and insights into the Spanish construction industry, including:
- The Spanish 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 the Spanish construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Report Scope
This report provides a comprehensive analysis of the construction industry in Spain. It provides:
- Historical (2021-2025) and forecast (2026-2030) valuations of the construction industry in Spain, 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
