The "Spain Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
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 Suarez 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
Scope
- 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 the publisher'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 the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
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
For more information about this report visit https://www.researchandmarkets.com/r/96fo0l.
Source: GlobalData
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230126005816/en/
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