Ecuador Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Ecuador Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027

Summary

GlobalData expects Ecuador’s construction industry to grow by 1.5% in real terms in 2023, following a marginal recovery of 0.2% in 2022, supported by the development of commercial and industrial construction projects, which are expected to register 3.3% and 3.6% growth respectively in 2023. Moreover, public-private partnership (PPP) investments will be a major key driver of industry’s output in 2023, with construction on seven mine developments worth $11 billion are expected to begin in 2023. According to Banco Central del Ecuador (BCE), the central bank, foreign direct investment grew by 21.7% year on year (YoY) in 2022, increasing from $647.3 million in 2021 to $788.1 million that year.

Investments in transportation, oil, electricity, education, and housing are expected to support the industry’s output over the remainder of the forecast period, with the construction industry’s output to register an annual average growth of 4.6% between 2024 and 2027. Ecuador's government announced plans in April 2022 to build a series of road projects worth around $14 billion before President Guillermo Lasso's term ends in May 2025, including a 996km multipurpose rail project with two branches for transporting minerals. Previously, in August 2021, Ecuador's Ministry of Energy and Non-Renewable Natural Resources updated the 2031 electricity master plan to include 10.4GW of non-conventional renewable energy capacity, with a $2.2 billion investment. The planned capacity is divided into four blocks, with the first 500MW expected to be operational in 2024, comprising 220MW of wind, 150MW of small and medium hydro, 100MW of solar photovoltaic (PV), and 30MW of biomass energy. The second block contains 2,500MW and is expected to begin operations in 2025, while the third and fourth blocks contain 3,120MW and 4,320MW, respectively, and are expected to begin operations in 2031.

This report provides detailed market analysis, information and insights into Ecuador’s construction industry, including -

• Ecuador’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 Ecuador’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 Ecuador. It provides -

• Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Ecuador, 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.