Spain Construction Industry Report 2024: Market to Record Growth of 1.2% in Real-terms this Year - Project Analytics and Development Forecasts to 2028
DUBLIN, April 1, 2024 /PRNewswire/ -- The "Spain Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
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Spain's construction industry to record a growth of 1.2% in real terms this year, supported by substantial growth and investments in the non-residential sectors, coupled with an increase in the investments for the energy and industrial sectors.
In November 2023, Junta de Andalucia, the regional government of Spain approved an expenditure of EUR615.6 million ($630.3 million) in its regional 2024 budget, which is an increase of 32% compared to 2023 budget. In December 2023, Volkswagen, a German automobile company announced an investment of EUR3 billion ($3.1 billion) for the construction of a battery factory in Sagunrt, which is expected to be completed by 2026.
Yet, in the short term the housing market remains weak, reflecting the gloomy residential sector; due to rising construction costs, weak demand, and a decrease in total useful floor area for residential permits, resulting in reduced output. According to Eurostat, the total useful floor area permits for residential buildings, decreased year on year (YoY) by 3.5% in the first three quarters of 2023, following an annual growth of 41.8% in 2022.
Over the remainder of the forecast period, the construction industry's output is expected to grow at an annual average rate of 3% between 2025 and 2028, supported by Spain's recovery and resilience plan, which includes 112 investments and 102 reforms, backed by grants totaling EUR69.5 billion ($71 billion) by August 2026.
Growth over the forecast period will be supported by the revised National Energy and Climate Plan (NECP), where the government aims to have 214 gigawatts (GW) of total installed capacity of electricity by 2030. This includes 76GW of photovoltaic power, 62GW of wind power, 22GW of storage capacity, 4.8GW of solar thermal power, and 1.4GW of biomass power with estimates a mobilization of investments worth EUR294 billion ($300.2 billion) from 2023 to 2030.
Scope
-- 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 the 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 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 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/v0cwlw
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