Ecuador Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)

The Construction in Ecuador - Country Briefing (H2 2024) report provides detailed market analysis, information and insights into the Ecuador's construction industry, including:

• The Ecuador’s 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 Ecaudor’s construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

Ecuador’s construction industry is expected to decline by 7.6% in real terms in 2024, owing to weak investor and consumer confidence, ongoing political turmoil, and rising construction material costs. Additionally, Ecuador is currently experiencing its worst drought in six decades - the drought is impacting water supply for the key hydroelectric plants that source over 70% of the country’s electricity. Accordingly, in October 2024, the Energy and Mines Minister announced the increase of planned power cuts from eight hours to 14 hours per day. The power outages are likely to impact industrial production, thereby weighing on investor confidence and investment decisions on certain non-critical manufacturing projects in the short term. Furthermore, in early December 2024, the chamber of commerce in Guayaquil - Ecuador’s largest city - reported that it estimated weekly losses of $700 million for Ecuadorian businesses due to power outages. Moreover, to add to climate-induced construction headwinds, forest fires are estimated to have consumed over 40,000 hectares throughout 2024. Accordingly, the government declared a 60-day state of emergency in mid-November 2024, allowing the mobilization of funds for aid. Still, construction value-add fell by 10.9% Year-on-Year (YoY) in the first six months of 2024, according to Banco Central del Ecuador (BCE).

The construction industry in Ecuador is, however, expected to rebound at an average annual growth rate of 4.3% from 2025 to 2028, supported by investment in mining, transport, electricity, housing, water and sewage, and housing projects. In August 2024, the government introduced the updated electricity master plan which outlines the construction of 37 power plants, at a total cost of $10.4 billion

Scope

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

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Ecuador, 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