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Spain Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

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    Report

  • 48 Pages
  • December 2024
  • Region: Spain
  • GlobalData
  • ID: 5782603

The Construction in Spain - Key Trends and Opportunities to 2028 (Q4 2024) 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
The Spanish construction industry is estimated to expand in real terms by 2% in 2024 and register an average annual growth of 3% from 2025 to 2028, supported by public and private sector investments in the transport, renewable energy, housing, and industrial sectors, coupled with a financial support from the European Union (EU) under the Recovery and Resilience Facility (RRF). In September 2024, the Spanish government updated its National Energy and Climate Plan (NECP) for the 2023-2030 period. As per the new plan, the government aims to reduce greenhouse gas (GHG) emissions by 32%, compared to 1990 levels, by 2030. It also targets to improve energy efficiency by 43% and reach a 50% energy independence by 2030. The new plan also aims to have renewables account for 81% of the total power mix and cover 48% of the final energy consumption by 2030. In terms of capacity, Spain targets a total solar photovoltaic (PV) capacity of 76GW, wind power capacity of 62GW, 22.5GW of electricity storage, and 12GW of renewable hydrogen by 2030. The plan also aims to produce 20TWh of biogas and reach 5.5 million of electric vehicles (EVs) by 2030. According to the government estimates, a total of EUR308 billion ($326.5 billion) should be invested over the period of 2021-2030 to reach these targets.

In a significant boost to the construction industry's output, the Spanish rail operator Adif and its high-speed subsidiary, Adif AV, announced in September 2024 that they will invest EUR24.1 billion ($25.5 billion) on railway infrastructure development over the period of 2022-2026. More than half of this amount, equivalent to EUR12.1 billion ($12.8 billion), will be spent on modernizing traditional rail, suburban and freight lines. Main works include renewal of signaling, electrification and communication systems, along with the reconstruction of logistics hubs in key transport areas like Vicálvaro, Valladolid and Fuente de San Luis

Scope

This report provides a comprehensive analysis of the construction industry in Spain. It provides:

  • Historical (2019-2023) and forecast (2024-2028) 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 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 the analyst's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Table of Contents

1 Executive Summary2 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
About the Analyst
  • Contact the Publisher
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), 2019-28
Table 4: Spain, Top Commercial Construction Projects by Value
Table 5: Spain, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Spain, Top Industrial Construction Projects by Value
Table 7: Spain, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Spain, Top Infrastructure Construction Projects by Value
Table 9: Spain, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Spain, Top Energy and Utilities Construction Projects by Value
Table 11: Spain, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Spain, Top Institutional Construction Projects by Value
Table 13: Spain, Residential Construction Output by Project Type (Real % Change), 2019-28
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: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Western Europe, Construction Output (Real % Change), 2022-28
Figure 2: Spain, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Spain, Risk Summary
Figure 4: Spain, Risk Regional Comparison
Figure 5: Spain, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Spain, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Spain, Construction Value Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 8: Spain, Construction Production Index, 2021=100
Figure 9: Spain, Gross Fixed Capital Formation in Construction Sector, 2020 Chain Linked Volume Measures (EUR Million)
Figure 10: Spain, Employment in the Construction Industry (In Thousands)
Figure 11: Spain, Building permits - thousands m2 of useful floor area
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), 2019-28
Figure 15: Spain, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: Spain, International Tourist Arrivals (In Thousands) and Spending by International Tourists (EUR Million)
Figure 17: Spain, Wholesale and Retail Trade Value Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 18: Spain, Employment in the wholesale and retail sector (In Thousands)
Figure 19: Spain, Employment in the hospitality sector (In Thousands)
Figure 20: Spain, Retail Turnover Index, Constant Prices, 2021=100
Figure 21: Spain, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 22: Spain, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: Spain, Manufacturing Value Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 24: Spain, Production Index, 2021=100
Figure 25: Spain Industrial New Orders, % Change YoY
Figure 26: Spain, Industrial New Orders, % Change YoY
Figure 27: Spain, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 28: Spain, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Spain, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 30: Spain, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Spain, Information and Communication Value Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 32: Spain, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 33: Spain, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 34: Spain, Public Administration, Defense, Education, Human Health and Social Work Activities Value Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 35: Spain, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 36: Spain, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Spain, Real Estate Value Add (EUR Million, 2020 Chain Linked Volume Prices)
Figure 38: Spain, Gross Fixed Capital Formation for Dwellings (EUR Million, 2015 Chain Linked Volume Prices)
Figure 39: Spain, House Price Index, 2015=100
Figure 40: Spain, Housing Sales (in Number)
Figure 41: Spain, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 42: Spain, Headquarters of Key Consultants (% of Total Project Pipeline)