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Construction in Portugal - Key Trends and Opportunities to 2022

Construction in Portugal - Key Trends and Opportunities to 2022

Summary

Portugal’s construction industry recovered in 2017, after sustained weakness since 2007. This upturn was driven by positive developments in regional economic conditions, recovery in tourism and exports, a revival in both investor and consumer confidence, and government investment in transport infrastructure. Consequently, the country’s construction industry registered growth of 6.8% in 2017 in real terms.

The industry is expected to continue to register positive growth over the forecast period (2018-2022), driven by the government’s efforts to enhance commercial, energy and utilities infrastructure. In addition, the government’s aim to improve the transport network is expected to support investments in infrastructure projects, which will in turn fuel growth in the industry. The rise in building construction permits is also expected to drive public and private sector funding towards construction projects.

The government’s effort to promote economic growth through the implementation of programs such as Ferrovia 2020 and Financial Instrument for Urban Rehabilitation and Revitalization (IFRRU) will support the industry’s expansion over the forecast period.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 2.19% over the forecast period, compared with -1.11% during the review period (2013-2017).

GlobalData’s Construction in Portugal - Key Trends and Opportunities to 2022, report provides detailed market analysis, information and insights into the Portuguese construction industry, including -

  • The Portuguese 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 Portuguese construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Key Highlights
  • GlobalData expects the Infrastructure construction market to register a positive growth over the forecast period, driven by the government’s effort to upgrade the country’s rail, road and port infrastructure to enhance regional connectivity and modernize transport infrastructure. The government outlined plans to invest EUR2.0 billion (US$2.4 billion) in developing transport infrastructure between 2016 and 2020.
  • The government’s plans to increase the contribution of solar energy in the total energy mix in order to reduce dependence on fossils fuels and move towards clean energy will support growth in the energy and utilities construction market over the forecast period. The government aims to increase the solar capacity from 572MW in 2017 to 1,600MW by 2021. Accordingly, in June 2018, the government announced plans to invest EUR800 million (US$970.2 million) to build 31 new solar plants with a total capacity of 1.0GW by 2021.
  • GlobalData expects the commercial construction industry to register a forecast-period CAGR of 3.75% in nominal terms driven by rising public and private sector investments in the construction of new commercial buildings and an increase in the country’s retail and tourism sectors.
  • The growth of the construction industry over the forecast period will be supported by the financial assistance provided by the European Investment Bank (EIB) to develop infrastructure. in April 2018, the EIB announced plans to finance EUR200.0 million (US$242.5 million) under the National Irrigation Program, while in July that year the EIB announced plans to invest EUR650.0 million (US$788.3 million) to construct and develop dams and hydroelectric power plants in the country by 2023.
  • The total construction project pipeline in Portugal - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at EUR16.8 billion (US$19.0 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards early-stage projects, with 73.5% of the pipeline value being in projects in the pre-planning and planning stages as of October 2018.
Scope

This report provides a comprehensive analysis of the construction industry in Portugal. It provides -
  • Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Portugal 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 GlobalData's 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 GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.


  • Executive Summary
  • Construction Outlook: At-a-glance
    • Table Construction Outlook
    • Table Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
    • Table Figure 2: Portugal, Construction Projects Pipeline by Sector (EUR Billion)
  • Latest News and Indicators
    • Table Figure 3: Portugal, New Construction Permits (Total Numbers)
    • Table Figure 4: Portugal, Exports (In Millions)
  • Key Drivers and Risks
    • Economic Performance
      • Table Portugal, Key Economic Indicators
    • Political Environment
    • Demographics
    • Risk Profile
      • Table Figure 5: Portugal, Risk Profile, Q3 2018
      • Table Figure 6: Portugal, Risk Comparison, Q3 2018
  • Construction Outlook
    • All Construction
      • Outlook
        • Table Figure 7: Portugal, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
        • Table Figure 8: Portugal, Construction Output Value, Growth Matrix
        • Table Figure 9: Portugal, Construction Output Value, by Sector (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 10: Portugal, Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million), 2017-2022
        • Table Figure 11: Portugal, Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Portugal, Construction Output Value (nominal, EUR Million)
        • Table Portugal, Construction Output Value (nominal, US$ Million)
    • Commercial Construction
      • Outlook
        • Table Figure 12: Portugal, Commercial Construction Output by Project Type (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 13: Portugal, Commercial Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Figure 14: Portugal, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million)
        • Table Portugal, Top Commercial Construction Projects by Value
    • Industrial Construction
      • Outlook
        • Table Figure 15: Portugal, Industrial Construction Output by Project Type (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 16: Portugal, Industrial Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Figure 17: Portugal, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million)
        • Table Portugal, Top Industrial Construction Projects by Value
    • Infrastructure Construction
      • Outlook
        • Table Figure 18: Portugal, Infrastructure Construction Output by Project Type (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 19: Portugal, Infrastructure Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Figure 20: Portugal, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million)
        • Table Portugal, Top Infrastructure Construction Projects by Value
    • Energy and Utilities Construction
      • Outlook
        • Table Figure 21: Portugal, Energy and Utilities Construction Output by Project Type (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 22: Portugal, Energy and Utilities Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Figure 23: Portugal, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million)
        • Table Portugal, Top Energy and Utilities Construction Projects by Value
    • Institutional Construction
      • Outlook
        • Table Figure 24: Portugal, Institutional Construction Output by Project Type (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 25: Portugal, Institutional Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Figure 26: Portugal, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million)
        • Table Portugal, Top Institutional Construction Projects by Value
    • Residential Construction
      • Outlook
        • Table Figure 27: Portugal, Residential Construction Output by Project Type (EUR Million), 2013-2022
      • Project analytics
        • Table Figure 28: Portugal, Residential Construction Projects Pipeline, Value by Stage (EUR Million)
        • Table Figure 29: Portugal, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (EUR Million)
        • Table Portugal, Top Residential and Mixed-Use Construction Projects by Value
  • Key Industry Participants
    • Contractors
      • Table Portugal, Key Contractors
      • Table Figure 30: Portugal, Headquarters of Key Contractors (% of Total Project Pipeline)
      • Table Figure 31: Portugal, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
    • Consultants
      • Table Portugal, Key Consultants
      • Table Figure 32: Portugal, Headquarters of Key
      • Table Figure 33: Portugal, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
  • Appendix
    • What is this Report About?
    • Definitions
      • Table GlobalData Construction Market Definitions
      • Table Construction Risk Index Ratings and Scores
  • About GlobalData
    • GlobalData at a Glance
      • Table Figure 34: GlobalData at a Glance
    • GlobalData Construction
    • Disclaimer
    • Contact Us

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