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Spain Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Publisher GlobalData
Published Dec 09, 2022
Length 50 Pages
SKU # GBDT17643564

Description

Spain Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Summary

The construction industry in Spain is expected to expand by 3.5% in real terms this year, supported by a favourable base, coupled with investments in the energy and transport infrastructure sectors, and disbursements as part of the NextGenerationEU (NGEU) Recovery Fund, under which, the government plans to spend EUR28.4 billion ($29.1 billion) in 2022. Despite this growth in 2022, output in real terms is still around 13% lower than in 2019, reflecting the industry’s struggles to bounce back from the COVID-19 disruption. The short terms outlook is also fairly gloomy, with the Spanish construction industry expected to shrink marginally by 0.3% in 2023, owing to headwinds caused by rising interest rates and high energy and construction material costs. According to the Eurostat, the average construction cost index rose by 13.8% YoY in the first seven months of 2022.

However, there are some positive signs of improvement in general. For example, the country received a total of EUR15.6 billion ($16 billion) in foreign investment during the first half of the year 2022, which represents 53.4% year-on-year (Y-o-Y) growth. Output will also continue to be supported by investments in the electricity, transport, housing, and industrial sectors. In the first two rounds of the renewable energy auctions that the government held in 2021, the government awarded 5.6GW of wind and 3.8GW of solar energy capacity. In October 2022, through the third auction, the government allocated 177MW - of which 31MW to distributed solar photovoltaic (PV), and 141MW to biomass. Through the fourth auction ended in November 2022, the government has successfully allocated 45.5MW to onshore wind power in contrast to an expectation of 1.5GW of wind and 1.8GW of solar power. In another positive development, the Ministry of Transport, Mobility and Urban Agenda is working on an EUR4 billion ($4.1 billion) Arajas Airport Expansion Program for the expansion of Adolfo Suárez Madrid-Barajas Airport, construction work on which is expected to commence in Q4 2024 and end in Q4 2040. For the development of residential sector, in September 2022, the Spanish Government proposed a new plan of renovating around half a million homes by the end of 2026, which involves an allocation of EUR6.8 billion ($7 billion) from the EU's Next Generation fund

The 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 (2017-2021) and forecast (2022-2026) 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 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.

Table of Contents

50 Pages
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 COVID-19 Status
3.5 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
7.4 GlobalData Construction
Contact Us
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), 2017-26
Table 4: Spain, Top Commercial Construction Projects by Value
Table 5: Spain, Industrial Construction Output by Project Type (Real % Change), 2017-26
Table 6: Spain, Top Industrial Construction Projects by Value
Table 7: Spain, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
Table 8: Spain, Top Infrastructure Construction Projects by Value
Table 9: Spain, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
Table 10: Spain, Top Energy and Utilities Construction Projects by Value
Table 11: Spain, Institutional Construction Output by Project Type (Real % Change), 2017-26
Table 12: Spain, Top Institutional Construction Projects by Value
Table 13: Spain, Residential Construction Output by Project Type (Real % Change), 2017-26
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: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2020-26
Figure 2: Spain, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
Figure 3: Spain, COVID-19 Confirmed Cases
Figure 4: Spain, Risk Summary
Figure 5: Spain, Risk Regional Comparison
Figure 6: Spain, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
Figure 7: Spain, Construction Output Value, by Sector (Real, $ Million), 2017-26
Figure 8:Spain, Construction Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 9:Spain, Gross Fixed Capital Formation in Construction Sector, 2015 Chain Linked Volume Measures, % Change YoY
Figure 10:Spain, Construction Production Index, 2015=100
Figure 11:Spain, Employment in the Construction Industry (In Thousands)
Figure 12: Spain, Construction Projects Momentum Index
Figure 13: Western Europe, Construction Projects Momentum Index
Figure 14: Spain, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 15: Spain, Commercial Construction Projects Pipeline, Value by Stage ($ 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, International Tourist Arrivals (in Thousands) and Spending by International Tourists (In EUR Million)
Figure 20: Spain, Retail Turnover Index, Constant Prices, 2015=100, % Change YoY
Figure 21: Spain, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 22: Spain, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: Spain, Manufacturing Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 24: Spain, Exports of Goods and Services (EUR Billion, Current Prices)
Figure 25: Spain, Vehicle Production and Exports, In Thousands
Figure 26:Spain, Production Index, 2015=100
Figure 27: Spain, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
Figure 28: Spain, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Spain, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
Figure 30: Spain, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Spain, Information and Communication Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 32: Spain, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
Figure 33: Spain, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Spain, Public administration, defence, education, human health and social work activities Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 35: Spain, Residential Construction Output by Project Type (Real, $ Million), 2017-26
Figure 36: Spain, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Spain, Real Estate Value Add (EUR Million, 2015 Chain Linked Volume Prices)
Figure 38: Spain, Employment in the real estate sector (In Thousands)
Figure 39: Spain, Gross Fixed Capital Formation for Dwellings (EUR Million, 2015 Chain Linked Volume Prices)
Figure 40: Spain, Housing Sales (in Number)
Figure 41: Spain, House Price Index, 2015=100
Figure 42: Spain, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 43: Spain, Headquarters of Key Consultants (% of Total Project Pipeline)

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