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Construction in Spain – Key Trends and Opportunities to 2021

Construction in Spain – Key Trends and Opportunities to 2021

Synopsis

Following six years of contraction, the Spanish construction industry recovered in 2015, registering growth of 0.2% in real terms. This recovery continued in 2016, in line with improvements in the country’s economic growth.

Timetric expects the industry to expand in real terms over the forecast period (2017–2021), driven by the government’s focus on the development of transport infrastructure, energy and utilities facilities and affordable housing.

Under the National Rural Development Program for 2014–2020, the government plans to spend EUR435.0 million (US$482.9 million) to develop efficient irrigation systems and other agricultural infrastructure by 2020.

In March 2017, the government announced its plan to spend EUR4.2 billion (US$4.8 billion) on the development of transport infrastructure, housing units and other infrastructure during 2017–2020. This is expected to drive the industry’s growth over the forecast period, with construction output in real terms forecast to record a compound annual growth rate (CAGR) of 2.84% through to 2021.

Summary

Timetric’s Construction in Spain – Key Trends and Opportunities to 2021 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, and the risks and opportunities they present to participants in the Spanish construction industry
  • Profiles of the leading operators in the Spanish construction industry
Scope

This report provides a comprehensive analysis of the construction industry in Spain. It provides:
  • Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Spain using construction output and value-add methods
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
  • Detailed profiles of the leading construction companies in Spain
Reasons To Buy
  • Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Key Highlights
  • According to Timetric, residential construction is expected to be the largest market in the industry over the forecast period, constituting 38.4% of the industry’s total value in 2021. The predicted CAGR of 4.92% over the forecast period is expected to be driven by declining housing loan interest rate coupled with urbanization and population growth.
  • The government is focusing on the development of transport infrastructure under the Estratégico De Infraestructuras Y Transporte and National Rural Development Program. In addition, to improving regional connectivity, the government plans to invest EUR4.1 billion (US$4.6 billion) on railway infrastructure by 2020.
  • To support economic development and growth, the government is focusing on the construction of high-speed railway infrastructure across the country, with an investment of EUR1.3 billion (US$1.5 billion) by 2020, as well as its plans to spend EUR500 million (US$565.5 million) to modernize the existing high-speed railway tracks by 2020.
  • The government plans to increase the share of renewable energy in the country’s total energy mix from 17.5% in 2016 to 20.0% by 2020, which is expected to drive the growth of energy and utilities construction market over the forecast period.
  • According to the Timetric, growth in tourism, retail trade and business turnover is expected to drive the forecast period growth of the commercial construction market. The total business turnover index in the country increased by 2.4% in 2016, while the retail trade turnover index at 2010 base prices rose by 3.9% in 2016, from 94.3 in 2015 to 101.2.


  • Executive Summary
  • Industry Outlook
    • Commercial Construction
    • Industrial Construction
    • Infrastructure Construction
    • Energy and Utilities Construction
    • Institutional Construction
    • Residential Construction
  • Key Issues and Developments
  • Market Data Analysis
    • Construction Output and Value Add
      • Construction output by project type
        • Table Spanish Construction Output by Project Type (EUR Million), 2012-2016
        • Table Spanish Construction Output by Project Type (EUR Million), 2016-2021
      • Construction output by cost type
        • Table Spanish Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Construction Output by Cost Type (EUR Million), 2016-2021
      • Construction output by activity type
        • Table Spanish Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Spanish Construction Output by Activity Type (EUR Million), 2016-2021
      • Construction value add by project type
        • Table Spanish Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Spanish Construction Value Add by Project Type (EUR Million), 2016-2021
    • Commercial Construction
      • Commercial construction output by project type
        • Table Spanish Commercial Construction Output by Project Type (EUR Million), 2012-2016
        • Table Spanish Commercial Construction Output by Project Type (EUR Million), 2016-2021
      • Commercial construction output by cost type
        • Table Spanish Commercial Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Commercial Construction Output by Cost Type (EUR Million), 2016-2021
      • Commercial construction output by activity type
        • Table Spanish Commercial Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Spanish Commercial Construction Output by Activity Type (EUR Million), 2016-2021
      • Commercial construction value add by project type
        • Table Spanish Commercial Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Spanish Commercial Construction Value Add by Project Type (EUR Million), 2016-2021
    • Industrial Construction
      • Industrial construction output by project type
        • Table Spanish Industrial Construction Output by Project Type (EUR Million), 2012-2016
        • Table Spanish Industrial Construction Output by Project Type (EUR Million), 2016-2021
      • Industrial construction output by cost type
        • Table Spanish Industrial Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Industrial Construction Output by Cost Type (EUR Million), 2016-2021
      • Industrial construction output by activity type
        • Table Spanish Industrial Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Spanish Industrial Construction Output by Activity Type (EUR Million), 2016-2021
      • Industrial construction value add by project type
        • Table Spanish Industrial Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Spanish Industrial Construction Value Add by Project Type (EUR Million), 2016-2021
    • Infrastructure Construction
      • Infrastructure construction output by project type
        • Table Spanish Infrastructure Construction Output by Project Type (EUR Million), 2012-2016
        • Table Spanish Infrastructure Construction Output by Project Type (EUR Million), 2016-2021
      • Infrastructure construction output by cost type
        • Table Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2016-2021
      • Infrastructure construction output by activity type
        • Table Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2016-2021
      • Infrastructure construction value add by project type
        • Table Spanish Infrastructure Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Spanish Infrastructure Construction Value Add by Project Type (EUR Million),2016-2021
    • Energy and Utilities Construction
      • Energy and utilities construction output by project type
        • Table Spanish Energy and Utilities Construction Output by Project Type (EUR Million),2012-2016
        • Table Spanish Energy and Utilities Construction Output by Project Type (EUR Million),2016-2021
      • Energy and utilities construction output by cost type
        • Table Spanish Energy and Utilities Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Energy and Utilities Construction Output by Cost Type (EUR Million), 2016-2021
      • Energy and utilities construction output by activity type
        • Table Spanish Energy and Utilities Construction Output by Activity Type (EUR Million),2012-2016
        • Table Spanish Energy and Utilities Construction Output by Activity Type (EUR Million),2016-2021
      • Energy and utilities construction value add by project type
        • Table Spanish Energy and Utilities Construction Value Add by Project Type (EUR Million),2012-2016
        • Table Spanish Energy and Utilities Construction Value Add by Project Type (EUR Million),2016-2021
    • Institutional Construction
      • Institutional construction output by project type
        • Table Spanish Institutional Construction Output by Project Type (EUR Million), 2012-2016
        • Table Spanish Institutional Construction Output by Project Type (EUR Million), 2016-2021
      • Institutional construction output by cost type
        • Table Spanish Institutional Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Institutional Construction Output by Cost Type (EUR Million), 2016-2021
      • Institutional construction output by activity type
        • Table Spanish Institutional Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Spanish Institutional Construction Output by Activity Type (EUR Million), 2016-2021
      • Institutional construction value add by project type
        • Table Spanish Institutional Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Spanish Institutional Construction Value Add by Project Type (EUR Million), 2016-2021
    • Residential Construction
      • Residential construction output by project type
        • Table Spanish Residential Construction Output by Project Type (EUR Million), 2012-2016
        • Table Spanish Residential Construction Output by Project Type (EUR Million), 2016-2021
      • Residential construction output by cost type
        • Table Spanish Residential Construction Output by Cost Type (EUR Million), 2012-2016
        • Table Spanish Residential Construction Output by Cost Type (EUR Million), 2016-2021
      • Residential construction output by activity type
        • Table Spanish Residential Construction Output by Activity Type (EUR Million), 2012-2016
        • Table Spanish Residential Construction Output by Activity Type (EUR Million), 2016-2021
      • Residential construction value add by project type
        • Table Spanish Residential Construction Value Add by Project Type (EUR Million), 2012-2016
        • Table Spanish Residential Construction Value Add by Project Type (EUR Million), 2016-2021
  • Company Profile: Actividades de Construccion y Servicios SA
    • Actividades de Construccion y Servicios SA - Company Overview
      • Table Actividades de Construccion y Servicios SA, Key Facts
    • Actividades de Construccion y Servicios SA - Business Description
    • Actividades de Construccion y Servicios SA - Main Services
      • Table Actividades de Construccion y Servicios SA, Main Services
    • Actividades de Construccion y Servicios SA - History
      • Table Actividades de Construccion y Servicios SA, History
    • Actividades de Construccion y Servicios SA - Company Information
      • Actividades de Construccion y Servicios SA - key competitors
      • Actividades de Construccion y Servicios SA - key employees
        • Table Actividades de Construccion y Servicios SA, Key Employees
  • Company Profile: Ferrovial SA
    • Ferrovial SA - Company Overview
      • Table Ferrovial SA, Key Facts
    • Ferrovial SA - Business Description
    • Ferrovial SA - Main Services
      • Table Ferrovial SA, Main Services
    • Ferrovial SA - History
      • Table Ferrovial SA, History
    • Ferrovial SA - Company Information
      • Ferrovial SA - key competitors
      • Ferrovial SA - key employees
        • Table Ferrovial SA, Key Employees
  • Company Profile: Grupo Isolux Corsan SA
    • Grupo Isolux Corsan SA - Company Overview
      • Table Grupo Isolux Corsan SA, Key Facts
    • Grupo Isolux Corsan SA - Business Description
    • Grupo Isolux Corsan SA - Main Products and Services
      • Table Grupo Isolux Corsan SA, Main Products and Services
    • Grupo Isolux Corsan SA - History
      • Table Grupo Isolux Corsan SA, History
    • Grupo Isolux Corsan SA - Company Information
      • Grupo Isolux Corsan SA - key competitors
      • Grupo Isolux Corsan SA - key employees
        • Table Grupo Isolux Corsan SA, Key Employees
  • Company Profile: Tecnicas Reunidas SA
    • Tecnicas Reunidas SA - Company Overview
      • Table Tecnicas Reunidas, SA, Key Facts
    • Tecnicas Reunidas SA - Business Description
    • Tecnicas Reunidas SA - Main Services
      • Table Tecnicas Reunidas, SA, Main Services
    • Tecnicas Reunidas SA - History
      • Table Tecnicas Reunidas, SA, History
    • Tecnicas Reunidas SA - Company Information
      • Tecnicas Reunidas SA - key competitors
      • Tecnicas Reunidas SA - key employees
        • Table Tecnicas Reunidas, SA, Key Employees
  • Company Profile: Sacyr SA
    • Sacyr SA - Company Overview
      • Table Sacyr SA, Key Facts
    • Sacyr SA - Business Description
    • Sacyr SA - Main Services
      • Table Sacyr SA, Main Services
    • Sacyr SA - History
      • Table Sacyr SA, History
    • Sacyr SA - Company Information
      • Sacyr SA - key competitors
      • Sacyr SA - key employees
        • Table Sacyr SA, Key Employees
  • Appendix
    • What is this Report About?
    • Definitions
      • Table Timetric Construction Market Definitions
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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