Colombia Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
Summary
The Colombian construction industry is expected to grow by 3.4% in 2023, after growing by an estimated 7.8% in 2022, and then is set to expand at an annual average of 4.8% between 2024 and 2027, partly owing to a low base effect, coupled with the government’s effort improve infrastructure across the country and increase renewable energy production. According to the National Administrative Department of Statistics (DANE) Colombia, the construction industry’s value add grew by 13.4% year on year (YoY) in Q3 2022, preceded by Y-o-Y growth of 9.6% in Q2 and 4.7% in Q1 2022. In addition, the total area approved for construction grew by 53.9% in the first ten months of 2022, increasing from 17.5 million m2 in January-October 2021 to 26.9 million m2 in January-October 2022. Of this, the area; residential construction grew by 57.3%, while non-residential building grew by 39.4% during the same period.
Over the forecast period, the industry’s growth will be supported by ongoing efforts to accelerate the completion of Colombia’s fourth generation (4G) road infrastructure program and push forward with plans for its fifth generation (5G) concessions program. Furthermore, the energy and utilities sector will be supported by government investments to meet the country’s aim of reducing greenhouse gas emissions by 51% by 2030 and reaching carbon neutrality by 2050.
The report provides detailed market analysis, information, and insights into the Colombian construction industry, including -
- The Colombian 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 Colombian 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 Colombia. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Colombia, 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
- 7.4 GlobalData Construction
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Colombia, Key Economic Indicators
- Table 3: Colombia, Commercial Construction Output by Project Type (Real % Change), 2018-27
- Table 4: Colombia, Top Commercial Construction Projects by Value
- Table 5: Colombia, Industrial Construction Output by Project Type (Real % Change), 2018-27
- Table 6: Colombia, Top Industrial Construction Projects by Value
- Table 7: Colombia, Infrastructure Construction Output by Project Type (Real % Change), 2018-27
- Table 8: Colombia, Top Infrastructure Construction Projects by Value
- Table 9: Colombia, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27
- Table 10: Colombia, Top Energy and Utilities Construction Projects by Value
- Table 11: Colombia, Institutional Construction Output by Project Type (Real % Change), 2018-27
- Table 12: Colombia, Top Institutional Construction Projects by Value
- Table 13: Colombia, Residential Construction Output by Project Type (Real % Change), 2018-27
- Table 14: Colombia, Top Residential Construction Projects by Value
- Table 15: Colombia, Key Contractors
- Table 16: Colombia, Key Consultants
- Table 17: Colombia, Construction Output Value (Real, $ Million)
- Table 18: Colombia, Construction Output Value (Nominal, COP Billion)
- 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), 2021-27
- Figure 2: Colombia, Construction Output by Sector (Real % Change), 2021-23 and 2024-27
- Figure 3: Colombia, Risk Summary
- Figure 4: Colombia, Risk Regional Comparison
- Figure 5: Colombia, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018-27
- Figure 6: Colombia, Construction Output Value, by Sector (Real, $ Million), 2018-27
- Figure 7:Colombia, Construction Value Add (COP Billion, 2015 Chained Prices), YoY % Change
- Figure 8:Colombia, Gross Capital Formation (COP Billion, 2015 Chained Prices)
- Figure 9:Colombia, Total Area Approved for Construction, In Thousand m2
- Figure 10:Colombia, Number of People Employed in The Construction Industry, In Thousands
- Figure 11:Colombia, Producer Price Index (PPI) for Construction Materials (2014=100)
- Figure 12:Colombia, Production and Sales of Cement, In Tons
- Figure 13:Colombia, Production of Ready-Mixed Concrete, In Thousand m3
- Figure 14: Colombia, Construction Projects Momentum Index
- Figure 15: Region, Construction Projects Momentum Index
- Figure 16: Colombia, Commercial Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 17: Colombia, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 18:Colombia, Retail Sales Index, In Real Prices (2019=100)
- Figure 19: Colombia, Non-Resident Visitor Arrivals, In Thousands
- Figure 20: Colombia, Value Add of Wholesale and Retail and Repair of Motor Vehicles and Motorcycles, Transportation and Storage, and Accommodation and Food Services Activities (2015 Chained Prices, COP Billion)
- Figure 21:Colombia, Value Add of Artistic, Entertainment and Recreation, and Other Service Activities (COP Billion, 2015 Chained Prices)
- Figure 22: Colombia, Industrial Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 23: Colombia, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 24: Colombia, Manufacturing Value Add (COP Billion, 2015 Chained Volume Measures)
- Figure 25: Colombia, Industrial and Manufacturing Production Indices (2018=100)
- Figure 26: Colombia, Total Exports ($ Million)
- Figure 27: Colombia, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 28: Colombia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: Colombia, Value add of Civil Engineering Works (COP Billion, 2015 Chained Prices)
- Figure 30: Colombia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 31: Colombia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Colombia, Value Add of Supply of Electricity, Gas, Steam and Air Conditioning and Water Distribution, Wastewater Evacuation and Treatment and Waste Management and Environmental Sanitation Activities, (COP Billion, 2015 Chained Volume Measures)
- Figure 33: Colombia, Value Add of Information and Communication Activities (COP Billion, 2015 Chained Volume Measures)
- Figure 34: Colombia, Institutional Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 35: Colombia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 36: Colombia, Value Add of Education, Human Healthcare and Social Service Activities, (COP Billion, 2015 Chained Volume Measures)
- Figure 37: Colombia, Value Add of Public Administration and Defence and Compulsory Social Security Plans (COP Billion, 2015 Chained Prices)
- Figure 38: Colombia, Residential Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 39: Colombia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 40: Colombia, Real Estate Value add, (COP Billion, 2015 Chained Volume Measures)
- Figure 41: Colombia, Total Area Approved for Housing, In Thousand m2
- Figure 42: Colombia, Total Balance of Mortgage Portfolio, In Current Prices, In COP Billion, % Change YoY
- Figure 43: Colombia, New Housing Price Index (IPVN), Q4 2020=100, % Change YoY
- Figure 44: Colombia, Disbursement for Home Purchase, In COP Billion, Constant Prices
- Figure 45: Colombia, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 46: Colombia, Headquarters of Key Consultants (% of Total Project Pipeline)
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