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Spain Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

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    Report

  • 49 Pages
  • February 2024
  • Region: Spain
  • GlobalData
  • ID: 5782603
The publisher expects Spain’s construction industry to record a growth of 1.2% in real terms this year, supported by substantial growth and investments in the non-residential sectors, coupled with an increase in the investments for the energy and industrial sectors. In November 2023, Junta de Andalucia, the regional government of Spain approved an expenditure of EUR615.6 million ($630.3 million) in its regional 2024 budget, which is an increase of 32% compared to 2023 budget. In December 2023, Volkswagen, a German automobile company announced an investment of EUR3 billion ($3.1 billion) for the construction of a battery factory in Sagunrt, which is expected to be completed by 2026. Yet, in the short term the housing market remains weak, reflecting the gloomy residential sector; due to rising construction costs, weak demand, and a decrease in total useful floor area for residential permits, resulting in reduced output. According to Eurostat, the total useful floor area permits for residential buildings, decreased year on year (YoY) by 3.5% in the first three quarters of 2023, following an annual growth of 41.8% in 2022. Over the remainder of the forecast period, the construction industry's output is expected to grow at an annual average rate of 3% between 2025 and 2028, supported by Spain's recovery and resilience plan, which includes 112 investments and 102 reforms, backed by grants totaling EUR69.5 billion ($71 billion) by August 2026.

Growth over the forecast period will be supported by the revised National Energy and Climate Plan (NECP), where the government aims to have 214 gigawatts (GW) of total installed capacity of electricity by 2030. This includes 76GW of photovoltaic power, 62GW of wind power, 22GW of storage capacity, 4.8GW of solar thermal power, and 1.4GW of biomass power with estimates a mobilization of investments worth EUR294 billion ($300.2 billion) from 2023 to 2030.

The Construction in Spain – Key Trends and Opportunities to 2028 (Q1 2024) report provides detailed market analysis, information, and insights into Spain’s construction industry, including -

  • Spain’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 Spain’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 Spain. It provides -
  • Historical (2019-2023) and forecast (2024-2028) 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 the 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 strategy using the 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-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
  • Outlook
  • Latest news and developments
  • Construction Projects Momentum Index
4.2 Commercial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.3 Industrial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.4 Infrastructure Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.5 Energy and Utilities Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.6 Institutional Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.7 Residential Construction
  • Outlook
  • Project analytics
  • Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
  • About the Publisher
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: Spain, Key Economic Indicators
Table 3: Spain, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Spain, Top Commercial Construction Projects by Value
Table 5: Spain, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Spain, Top Industrial Construction Projects by Value
Table 7: Spain, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Spain, Top Infrastructure Construction Projects by Value
Table 9: Spain, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Spain, Top Energy and Utilities Construction Projects by Value
Table 11: Spain, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Spain, Top Institutional Construction Projects by Value
Table 13: Spain, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Spain, Top Residential Construction Projects by Value
Table 15: Spain, Key Contractors
Table 16: Spain, Key Consultants
Table 17: Spain, Construction Output Value (Real, $ Million)
Table 18: Spain, Construction Output Value (Nominal, EUR Million)
Table 19: Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2022-28
Figure 2: Spain, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Spain, Risk Summary
Figure 4: Spain, Risk Regional Comparison
Figure 5: Spain, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Spain, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Spain, Constructions Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 8: Spain, Construction Production Index, 2015=100
Figure 9: Spain, Gross Fixed Capital Formation in Construction Sector, 2015 Chain Linked Volume Measures (EUR Million)
Figure 10: Spain, Employment in the Construction Industry (In Thousands)
Figure 11: Spain, Construction Projects Momentum Index
Figure 12: Western Europe, Construction Projects Momentum Index
Figure 13: Spain, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 14: Spain, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 15: Spain, International Tourist Arrivals (In Thousands) and Spending by International Tourists (EUR Million)
Figure 16: Spain, Wholesale and Retail Trade Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 17: Spain, Employment in the wholesale and retail sector (In Thousands)
Figure 18: Spain, Employment in the hospitality sector (In Thousands)
Figure 19: Spain, Retail Turnover Index, Constant Prices, 2015=100
Figure 20: Spain, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 21: Spain, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 22: Spain, Manufacturing Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 23: Spain, Production Index, 2015=100
Figure 24: Spain, Industrial New Orders, % Change YoY
Figure 25: Spain, Vehicle Production and Exports, In Thousands
Figure 26: Spain, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 27: Spain, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Spain, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 29: Spain, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 30: Spain, Information and Communication Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 31: Spain, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 32: Spain, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: Spain, Public Administration, Defence, Education, Human Health and Social Work Activities Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 34: Spain, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 35: Spain, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: Spain, Real Estate Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 37: Spain, Gross Fixed Capital Formation for Dwellings (EUR Million, 2015 Chain Linked Volume Prices)
Figure 38: Spain, House Price Index, 2015=100
Figure 39: Spain, Housing Sales (in Number)
Figure 40: Spain, Floor Area Permits- m2 for Residential Buildings Index (2015=100)
Figure 41: Spain, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 42: Spain, Headquarters of Key Consultants (% of Total Project Pipeline)