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Colombia Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Best Price Guarantee Length Publisher Published Date SKU
from $1,495 52 Pages GlobalData February, 2024 GBDT18640229
Best Price Guarantee
Price from $1,495
Length 52 Pages
Publisher GlobalData
Published Date February, 2024
SKU GBDT18640229

Colombia Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028


Summary

The Colombian construction industry is expected to record subdued growth of 1.8% in 2024, following an estimated decline of 5.2% in 2023. The decline in 2023 is attributed to elevated inflation, high construction material costs and interest rates. According to the International Monetary Fund, the country’s inflation jumped from 3.5% in 2021 to 10.2% in 2022 and remained high in 2023 at 11.4%. The residential sector will decline further in 2024, but this will be offset by investment in the infrastructure, industrial and energy segments. In November 2023, the Empresas Públicas de Medellín (EPM), approved a budget of COP28.8 trillion ($7 billion) for 2024 to develop road infrastructure, transmission, electricity distribution, gas, water supply, and wastewater facilities. This budget was up by 19% compared to COP24.2trillion ($5.9 billion) in 2023. Moreover, the national infrastructure agency (ANI) has planned COP17.8 trillion ($4.3 billion) for investment in transport infrastructure projects in 2024 including the expansion of Rafael Núñez airport in Cartagena and the Public–private partnership (PPP) for the Dorada-Chiriguaná rail corridor will support the growth in construction industry in 2024.

Over the remaining part of the forecast period, the construction industry is expected to record an annual average growth rate of 5.5% between 2025 and 2028, supported by investments in transport and energy projects. Growth will be supported by the government’s intention to invest COP101.9 trillion ($24.9 billion) during the current presidential term (ending August 2026) to develop transportation infrastructure. Among the recent developments, in October 2023, state owned infrastructure company Empresas Publicas de Medellin awarded a contract of COP1 trillion ($254 million) to Chinese energy company Yellow River Co, Colombian mining company LTD Sucursal and Colombian engineering and construction company Schrader Camargo S.A.S for the construction of the 2,400MW Hidroituango dam. Additionally, government’s plans to offer affordable residential houses by 2030 through Vision 2030 will also support growth in the forecast period.

GlobalData’s Construction in Colombia – Key Trends and Opportunities to 2028 (H1 2024) 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.
Scope

This report provides a comprehensive analysis of the construction industry in Colombia. It provides -
  • Historical (2019–2023) and forecast (2024–2028) 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 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: Colombia, Key Economic Indicators
Table 3: Colombia, Commercial Construction Output by Project Type (Real % Change), 2019–28
Table 4: Colombia, Top Commercial Construction Projects by Value
Table 5: Colombia, Industrial Construction Output by Project Type (Real % Change), 2019–28
Table 6: Colombia, Top Industrial Construction Projects by Value
Table 7: Colombia, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
Table 8: Colombia, Top Infrastructure Construction Projects by Value
Table 9: Colombia, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
Table 10: Colombia, Top Energy and Utilities Construction Projects by Value
Table 11: Colombia, Institutional Construction Output by Project Type (Real % Change), 2019–28
Table 12: Colombia, Top Institutional Construction Projects by Value
Table 13: Colombia, Residential Construction Output by Project Type (Real % Change), 2019–28
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), 2022–28
Figure 2: Colombia, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
Figure 3: Colombia, Risk Summary
Figure 4: Colombia, Risk Regional Comparison
Figure 5: Colombia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
Figure 6: Colombia, Construction Output Value, by Sector (Real, $ Million), 2019–28
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: Latin America, Construction Projects Momentum Index
Figure 16: Colombia, Commercial Construction Output by Project Type (Real, $ Million), 2019–28
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), 2019–28
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), 2019–28
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), 2019–28
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, Information and Communication Value Add (COP Billion, 2007 Constant Prices)
Figure 34: Colombia, Institutional Construction Output by Project Type (Real, $ Million), 2019–28
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), 2019–28
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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