Peru Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)
Summary
Following growth of 4.6% in real terms in 2024, Peru’s construction industry is expected to expand by 3.8% in 2025, underpinned by private-sector investments in mining and elevated public stimulus into transport and energy infrastructure projects. According to the Instituto Nacional de Estadística e Informática (INEI), the value-add of extraction of oil, gas, minerals and related services rose by 2% year-on-year (YoY) in 2024, preceded by YoY growth of 8% in 2023. Additionally, growth in 2025 will also be supported by an increase in capital expenditure of 7.3% for regional governments and 24.2% at local government level announced in the government’s budget for 2025, compared with the 2024 budget. Furthermore, the budget anticipates a guaranteed allocation of one million Peruvian sol (PEN) to each municipality for investments in development projects. Moreover, in March 2025, the Ministry of Economy and Finance of Peru (MEF) announced a public-private investment of approximately PEN174.3 billion ($46 billion) by the first quarter of 2026 for the development of the transport infrastructure sector. According to the INEI, gross fixed capital formation rose by 1.3% YoY in Q4 2024, preceded by YoY growth of 4.6% in Q2 and 3.8% in Q2 2024.
Over the remainder of the forecasted period, the construction industry is expected to record average annual growth of 3.6% between 2026 and 2029, supported by government spending on educational facilities, road infrastructure, and renewable energies, alongside other projects. According to Peru's Ministry of Energy and Mines, the 2025 Mining Exploration Project Portfolio, announced in March 2025, includes 84 mining projects, spread across 17 regions, with a total planned investment of PEN3.8 billion ($1 billion). Additionally, in October 2024, Pan American Silver - a Canadian mining company - announced plans for the development and exploitation of Huarón mining unit in Pasco. This project with an investment of PEN641.8 million ($169.4 million), will involve a series of works to expand and deepen the existing underground works, which will be completed by 2032. Furthermore, in November 2024, Peru’s Ministry of Transport and Communications announced plans to construct the Lima-Ica train project with an investment of PEN24.6 billion ($6.5 billion) under the Government-to-Government (G2G) model for fast and high-quality construction. The 280km railway will connect Lima’s Villa El Salvador district to Ica and aim to reduce travel time.
GlobalData’s Construction in Peru - Key Trends and Opportunities to 2029 (H1 2025) report provides detailed market analysis, information and insights into the Peruvian construction industry, including -
- The Peruvian 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 Peruvian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Peru. It provides -
- Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Peru, 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
- 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 GlobalData's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
- 1 Executive Summary
- 2 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
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Peru, Key Economic Indicators
- Table 3: Peru, Commercial Construction Output by Project Type (Real % Change), 2020–29
- Table 4: Peru, Top Commercial Construction Projects by Value
- Table 5: Peru, Industrial Construction Output by Project Type (Real % Change), 2020–29
- Table 6: Peru, Top Industrial Construction Projects by Value
- Table 7: Peru, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
- Table 8: Peru, Top Infrastructure Construction Projects by Value
- Table 9: Peru, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
- Table 10: Peru, Top Energy and Utilities Construction Projects by Value
- Table 11: Peru, Institutional Construction Output by Project Type (Real % Change), 2020-29
- Table 12: Peru, Top Institutional Construction Projects by Value
- Table 13: Peru, Residential Construction Output by Project Type (Real % Change), 2020-29
- Table 14: Peru, Top Residential Construction Projects by Value
- Table 15: Peru, Key Contractors
- Table 16: Peru, Key Consultants
- Table 17: Peru, Construction Output Value (Real, $ Million)
- Table 18: Peru, Construction Output Value (Nominal, PEN Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Latin America, Construction Output (Real % Change), 2023–29
- Figure 2: Peru, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 3: Peru, Risk Summary
- Figure 4: Peru, Risk Regional Comparison
- Figure 5: Peru, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 6: Peru, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 7: Peru, Construction Value Add (PEN Million, 2007 Constant Prices)
- Figure 8: Peru, Gross Fixed Capital Formation in Construction (PEN Million, 2007 Constant Prices)
- Figure 9: Peru, Construction Materials Price Index (2013=100)
- Figure 10: Peru, Monthly Unemployment in Metropolitan Lima (Three-Month Moving Average)
- Figure 11: Peru, Business Situation Index
- Figure 12: Peru, Domestic Cement Consumption (12-month Change %)
- Figure 13: Peru, Construction Projects Momentum Index
- Figure 14: Latin America, Construction Projects Momentum Index
- Figure 15: Peru, Commercial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 16: Peru, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 17: Peru, Accommodation and Restaurants Services Value Add (PEN Million, 2007 Constant Prices)
- Figure 18: Peru, Total International Tourist Arrivals
- Figure 19: Peru, Industrial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 20: Peru, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 21: Peru, Manufacturing Value Add (PEN Million, 2007 Constant Prices)
- Figure 22: Peru, Total Export Value ($ Million)
- Figure 23: Peru, Extraction of Oil, Gas, Minerals, and Related Services Value Add (PEN Million, 2007 Constant Prices)
- Figure 24: Peru, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 25: Peru, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 26: Peru, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 27: Peru, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Peru, Electricity, Gas, and Water Services Value Add (PEN Million, 2007 Constant Prices)
- Figure 29: Peru, Telecommunication and Other Information Services Value Add (PEN Million, 2007 Constant Prices)
- Figure 30: Peru, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 31: Peru, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Peru, Public Administration and Defense Sector Value Add (PEN Million, 2007 Constant Prices)
- Figure 33: Peru, Residential Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 34: Peru, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 35: Peru, Hedonic Property Price Index
- Figure 36: Peru, Apartment Sales Price Indicator (Prices per square meter of apartments in PEN)
- Figure 37: Peru, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 38: Peru, Headquarters of Key Consultants (% of Total Project Pipeline)
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