Brazil Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028
Summary
The Brazilian construction industry is expected to decline by 2.8% in real terms in 2024, owing to the economic challenges of weak investor sentiment, elevated cost of production and rising energy prices, on top of a prolonged high interest rate. According to the Brazilian Institute of Economics (IBRE) and its unit - the Getúlio Vargas Foundation (FGV) (FGV/IBRE), the average National Construction Cost Index - M (INCC-M) rose by 3.2% year-on-year (YoY) in the first two months of 2024. Which was slightly lower growth than that experienced in the first two months of 2023, when the increase was 5.2%. Continued weakness in the residential sector will also weigh on the overall industry’s output this year as the market still experiences subdued demand for housing units. According to the Brazilian Chamber of Construction Industry (CBIC) and the National Service for Industrial Training (SENAI), the total number of residential units sold in the country fell by 1.4% in 2023.
The Brazilian construction industry is expected to rebound at an average annual growth rate of 3.2% from 2025 to 2028, supported by investment in industrial, transport, renewable energy, housing, and oil sectors. In December 2023, the government of Brazil launched the National Green Mobility and Innovation Programme (Mover), under which it plans to invest BRL19.3 billion ($3.9 billion). The programme will support the growth of the automotive industry between the period of 2024 to 2028. Growth will also be supported by the “New Growth Acceleration Program”, that was announced in August 2023, under which BRL1.7 trillion ($340.6 billion) will be invested to support the construction of social infrastructure, transportation, energy infrastructure and housing units.
GlobalData’s Construction in Brazil - Key Trends and Opportunities to 2028 (Q1 2024) report provides detailed market analysis, information, and insights into the Brazilian construction industry, including -
- The Brazilian 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 Brazilian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Brazil. It provides -
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Brazil, 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
- Identify and evaluate market opportunities using GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
- 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
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 8 About GlobalData
- 9 Contact Us
- LIST OF TABLES
- Table 1: Construction Industry Key Data
- Table 2: Brazil, Key Economic Indicators
- Table 3: Brazil, Commercial Construction Output by Project Type (Real % Change), 2019–28
- Table 4: Brazil, Top Commercial Construction Projects by Value
- Table 5: Brazil, Industrial Construction Output by Project Type (Real % Change), 2019–28
- Table 6: Brazil, Top Industrial Construction Projects by Value
- Table 7: Brazil, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
- Table 8: Brazil, Top Infrastructure Construction Projects by Value
- Table 9: Brazil, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
- Table 10: Brazil, Top Energy and Utilities Construction Projects by Value
- Table 11: Brazil, Institutional Construction Output by Project Type (Real % Change), 2019–28
- Table 12: Brazil, Top Institutional Construction Projects by Value
- Table 13: Brazil, Residential Construction Output by Project Type (Real % Change), 2019–28
- Table 14: Brazil, Top Residential Construction Projects by Value
- Table 15: Brazil, Key Contractors
- Table 16: Brazil, Key Consultants
- Table 17: Brazil, Construction Output Value (Real, $ Million)
- Table 18: Brazil, Construction Output Value (Nominal, BRL Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- LIST OF FIGURES
- Figure 1: Latin America, Construction Output (Real % Change), 2022–28
- Figure 2: Brazil, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
- Figure 3: Brazil, Risk Summary
- Figure 4: Brazil, Risk Regional Comparison
- Figure 5: Brazil, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
- Figure 6: Brazil, Construction Output Value, by Sector (Real, $ Million), 2019–28
- Figure 7: Brazil, Construction Value Add (BRL Billion, Chained at 1995 Prices)
- Figure 8:: Brazil, Gross Fixed Capital Formation (BRL Billion, Chained at 1995 Prices)
- Figure 9: Brazil, Number of People Employed in the Construction Industry, In Thousands
- Figure 10: Brazil, Construction Activity Index
- Figure 11: Brazil, National Construction Cost Index – M (INCC-M), August 94=100
- Figure 12: Brazil, Construction – Operation Capacity Utilization (%)
- Figure 13: Brazil, Construction Projects Momentum Index
- Figure 14: Latin America, Construction Projects Momentum Index
- Figure 15: Brazil, Commercial Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 16: Brazil, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 17: Brazil, Services Sector Value Add (BRL Billion, Chained at 1995 Prices)
- Figure 18: Brazil, Services Volume and Revenue Indices, 2022=100, % Change YoY
- Figure 19: Brazil, Number of People Employed in The Accommodation and Food Services Sector, In Thousands
- Figure 20: Brazil, Retail sales volume index Food Services Sector, In Thousands
- Figure 21: Brazil, Industrial Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 22: Brazil, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 23: Brazil, Manufacturing Value Add (BRL Billion, Chained at 1995 Prices)
- Figure 24: Brazil, Capacity Utilization in the Manufacturing Sector
- Figure 25: Brazil, Industrial and Manufacturing Production Indices, (2022=100)
- Figure 26: Brazil, Total Exports ($ Billion)
- Figure 27: Brazil, Number of Vehicles Produced, Registered and Exported
- Figure 28: Brazil, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 29: Brazil, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Brazil, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 31: Brazil, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Brazil, Electricity Consumed (in GWh)
- Figure 33: Brazil, Electricity, Gas, and Water Services Value Add (BRL Million, 2007 Constant Prices)
- Figure 34: Brazil, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 35: Brazil, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 36: Brazil, Public Administration and Defense Sector Value Add (BRL Million, 2007 Constant Prices)
- Figure 37: Brazil, Residential Construction Output by Project Type (Real, $ Million), 2019–28
- Figure 38: Brazil, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 39: Brazil, Real Estate Value Add (BRL Billion, Chained at 1995 Prices)
- Figure 40: Brazil, Loans for Real Estate Acquisition and Construction (BRL Billion)
- Figure 41: Brazil, Residential Real Estate Sale Index (2012=100)
- Figure 42: Brazil, Residential units sold (In Thousands)
- Figure 43: Brazil, Residential Units Launched (In Thousands)
- Figure 44: Brazil, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 45: Brazil, Headquarters of Key Consultants (% of Total Project Pipeline)
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