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Spain Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)

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    Report

  • 54 Pages
  • May 2025
  • Region: Spain
  • GlobalData
  • ID: 5782603
Description Jump to:
The Spanish construction industry is expected to grow in real terms by 3.2% in 2025, supported by a rise in Foreign Direct Investment (FDI), an easing of inflation rates, and rising building permits issued, coupled with an increase in business confidence. According to the Spanish Directorate General for Trade and Investment, FDI in the country grew by 22% in 2024, totaling EUR40.1 billion ($43.6 billion). According to Eurostat, the construction industry's value-add grew by 2.3% year-on-year (YoY) in Q1 2025, preceded by YoY growth of 3.9% in Q4 and 0.3% in Q3 2024. In February 2025, the Ministry of Science, Innovation and Universities announced EUR240 million ($261.5 million) to promote the development of innovative and sustainable projects.

Over the remainder of the forecast period, the construction industry in Spain is expected to register an average annual growth of 3.1% from 2026 to 2029, supported by investments in the construction of renewable energy, infrastructure, and industrial projects, coupled with investment under Spain’s Recovery and Resilience Plan. This plan was updated in January 2025, and now valued at EUR163 billion ($173.3 billion), including EUR80 billion ($85.1 billion) in grants and EUR83 billion ($88.3 billion) in loans. The plan allocates EUR67 billion ($71.3 billion) for green transition projects. The plan seeks to make Spain greener, more digital, and socially inclusive by 2026. In December 2024, Spain submitted its fifth extended payment request over EUR25 billion ($26.6 billion) in grants and loans, representing around 15% of its total Recovery, Transformation, and Resilience Plan (RTRP) funds, covering 84 milestones and objectives. The country also aims to increase the share of renewable electricity to 81% of its total energy mix by 2030, up from 60% in 2024, which will further support the growth of Spain’s construction industry over the forecast period

The Construction in Spain - Key Trends and Opportunities to 2029 (Q2 2025) 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

Scope

This report provides a comprehensive analysis of the construction industry in Spain. It provides:

  • Historical (2020-2024) and forecast (2025-2026) 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-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 Analyst
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: Spain, Key Economic Indicators
Table 3: Spain, Construction Material Price Index (January 2021=100, % Change YoY)
Table 4: Spain, Commercial Construction Output by Project Type (Real % Change), 2020-29
Table 5: Spain, Top Commercial Construction Projects by Value
Table 6: Spain, Industrial Construction Output by Project Type (Real % Change), 2020-29
Table 7: Spain, Top Industrial Construction Projects by Value
Table 8: Spain, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
Table 9: Spain, Top Infrastructure Construction Projects by Value
Table 10: Spain, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
Table 11: Spain, Top Energy and Utilities Construction Projects by Value
Table 12: Spain, Institutional Construction Output by Project Type (Real % Change), 2020-29
Table 13: Spain, Top Institutional Construction Projects by Value
Table 14: Spain, Residential Construction Output by Project Type (Real % Change), 2020-29
Table 15: Spain, Top Residential Construction Projects by Value
Table 16: Spain, Key Contractors
Table 17: Spain, Key Consultants
Table 18: Spain, Construction Output Value (Real, $ Million)
Table 19: Spain, Construction Output Value (Nominal, EUR Million)
Table 20: the analyst Construction Market Definitions
Table 21: Risk Dimensions
Table 22: Ratings, Scores and Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2023-29
Figure 2: Spain, Construction Output by Sector (Real % Change), 2023-25 and 2026-29
Figure 3: Spain, Risk Summary
Figure 4: Spain, Risk Regional Comparison
Figure 5: Spain, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020-29
Figure 6: Spain, Construction Output Value, by Sector (Real, $ Million), 2020-29
Figure 7: Spain, Construction Value-Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 8: Spain, Construction Production Index, 2021=100
Figure 9: Spain, Construction Cost Index, 2021=100
Figure 10: Spain, Gross Fixed Capital Formation in Construction Sector, 2020 Chain Linked Volume Measures (EUR Million)
Figure 11: Spain, Employment in the Construction Industry (In Thousands)
Figure 12: Spain, Building Permits - m2 of Useful Floor Area Index (2021=100)
Figure 13: Spain, Harmonized Business Confidence Index, Q1 2013=100
Figure 14: Spain, Labor cost index for construction, 2020=100
Figure 15: Spain, Cement Price Index, January 2021=100
Figure 16: Spain, Construction Projects Momentum Index
Figure 17: Western Europe, Construction Projects Momentum Index
Figure 18: Spain, Commercial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 19: Spain, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: Spain, International Tourist Arrivals (In Thousands) and Spending by International Tourists (EUR Million)
Figure 21: Spain, Wholesale and Retail Trade Value-Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 22: Spain, Employment in the Wholesale and Retail Sector (In Thousands)
Figure 23: Spain, Employment in the Hospitality Sector (In Thousands)
Figure 24: Spain, Retail Turnover Index, Constant Prices, 2021=100
Figure 25: Spain, Industrial Construction Output by Project Type (Real, $ Million), 2020-29
Figure 26: Spain, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: Spain, Manufacturing Value-Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 28: Spain, Industrial Production Index, 2021=100
Figure 29: Spain, Industrial New Orders, % Change YoY
Figure 30: Spain, Production and Export of Vehicles (Number)
Figure 31: Spain, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
Figure 32: Spain, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: Spain, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
Figure 34: Spain, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 35: Spain, Information and Communication Value-Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 36: Spain, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
Figure 37: Spain, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 38: Spain, Public Administration, Defense, Education, Human Health and Social Work Activities Value-Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 39: Spain, Residential Construction Output by Project Type (Real, $ Million), 2020-29
Figure 40: Spain, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: Spain, Real Estate Value-Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 42: Spain, Gross Fixed Capital Formation for Dwellings (EUR Million, 2015 Chain Linked Volume Prices)
Figure 43: Spain, House Price Index, 2015=100
Figure 44: Spain, Housing Sales (in Number)
Figure 45: Spain, Construction Producer Price Index for New Residential Buildings, 2021=100
Figure 46: Spain, Average Value of Residential Mortgage (EUR Million)
Figure 47: Spain, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 48: Spain, Headquarters of Key Consultants (% of Total Project Pipeline)

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