Colombia Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026 Summary GlobalData expects Colombia’s construction industry to grow by 14% in 2022, after growing by 5.7% in 2021, and it is expected to expand at an annual average of 4.3% between 2023 and 2026, partly owing to a low base effect, coupled with the government’s effort to move away from an oil-dependent economy, which will facilitate investment in renewable energy. However, the new government’s move to halt new fossil fuel projects can hamper investment in extractive industries, which can pose a wider effect on foreign and local investment. In June 2022, the newly elected President of Colombia, Gustavo Petro, called for renegotiating the US-Colombia trade agreement, since in his opinion, it has harmed Colombian farmers and manufacturers which could drive down foreign investment. In a positive development, 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 should continue to drive the industry’s growth in the quarters ahead. Furthermore, improving external conditions has supported stronger growth, higher oil prices, and higher export growth, and consequently tax revenues and accelerated investment plans. In October 2021, Colombia's Congress approved a COP350.4 trillion ($93 billion) budget for 2022, an increase of 5.3% compared with the previous budget of COP332 trillion ($88 billion) approved for 2021. According to the budget, the country’s economy is expected to register growth of 4.3% in 2022 and a fiscal deficit of 7% of GDP in 2022. In the budget, the government allocated COP69.6 trillion ($18.9 billion) towards social spending, in an increase of 18.8% compared to the previous budget. As part of the 2022 Budget, the government plans to allocate COP49.4 trillion ($13.4 billion) towards education, COP42.6 trillion ($11.6 billion) for defense, and COP41.8 trillion ($11.4 billion) on healthcare. The report provides detailed market analysis, information, and insights into Colombia’s construction industry, including - - Colombia’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 Colombia’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. Scope This report provides a comprehensive analysis of the construction industry in Colombia. It provides - - Historical (2017-2021) and forecast (2022-2026) 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 Reasons to Buy - 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 COVID-19 Status
- 3.5 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: Estonia, Top Construction Projects by Value
- Table 3: Estonia, Construction Output Value (Real, $ Million)
- Table 4: Estonia, Construction Output Value (Nominal, EUR Million)
- Table 5: GlobalData Construction Market Definitions
- Table 6: Risk Dimensions
- Table 7: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Latin America, Construction Output (Real % Change), 2020-26
- Figure 2: Colombia, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
- Figure 3: Colombia, COVID-19 Confirmed Cases
- Figure 4: Colombia, Risk Summary
- Figure 5: Colombia, Risk Regional Comparison
- Figure 6: Colombia, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
- Figure 7: Colombia, Construction Output Value, by Sector (Real, $ Million), 2017-26
- Figure 8: Colombia, Construction Value Add (COP Billion, 2015 Chained Prices), YoY % Change
- Figure 9: Colombia, Gross Capital Formation (COP Billion, 2015 Chained Prices)
- Figure 10: Colombia, Total Area Approved for Construction, In Thousand m2
- Figure 11: Colombia, Number of People Employed in The Construction Industry, In Thousands
- Figure 12: Colombia, Producer Price Index (PPI) For Construction Materials (2014=100)
- Figure 13: Colombia, Production and Sales of Cement, In Tonnes
- Figure 14: Colombia, Production of Ready-Mixed Concrete, In Thousand m3
- Figure 15: Colombia, Construction Projects Momentum Index
- Figure 16: Region, Construction Projects Momentum Index
- Figure 17: Colombia, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 18: Colombia, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 19: Colombia, Retail Sales Index, In Real Prices (2019=100)
- Figure 20: Colombia, Non-Resident Visitor Arrivals, In Thousands
- Figure 21: 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 22: Colombia, Value Add of Artistic, Entertainment, and Recreation, and Other Service Activities (COP Billion, 2015 Chained Prices)
- rFigure 23: Colombia, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 24: Colombia, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 25: Colombia, Manufacturing Value Add (COP Billion, 2015 Chained Volume Measures)
- Figure 26: Colombia, Industrial and Manufacturing Production Indices (2018=100)
- Figure 27: Colombia, Total Exports ($ Million)
- Figure 28: Colombia, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 29: Colombia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Colombia, Value add of Civil Engineering Works (COP Billion, 2015 Chained Prices)
- Figure 31: Colombia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 32: Colombia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: 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 34: Colombia, Value Add of Information and Communication Activities (COP Billion, 2015 Chained Volume Measures)
- Figure 35: Colombia, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 36: Colombia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 37: Colombia, Value Add of Education and Human Healthcare and Social Service Activities, (COP Billion, 2015 Chained Volume Measures)
- Figure 38: Colombia, Value Add of Public Administration and Defense and Compulsory Social Security Plans (COP Billion, 2015 Chained Prices)
- Figure 39: Colombia, Residential Construction Output by Project Type (Real, $ Million), 2017-26
- Figure 40: Colombia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 41: Colombia, Real Estate Value add, (COP Billion, 2015 Chained Volume Measures)
- Figure 42: Colombia, Total Area Approved for Housing, In Thousand m2
- Figure 43: Colombia, Total Balance of Mortgage Portfolio, In Current Prices, In COP Billion, % Change YoY
- Figure 44: Colombia, New Housing Price Index (IPVN), Q4 2020=100, % Change YoY
- Figure 45: Colombia, Disbursement for Home Purchase, In COP Billion, Constant Prices
- Figure 46: Colombia, Home Construction Cost Index (ICCV), 1999=100
- Figure 47: Colombia, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 48: Colombia, Headquarters of Key Consultants (% of Total Project Pipeline)
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