Chile Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)
Summary
GlobalData 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).
GlobalData’s 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 -
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