Ecuador Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

Ecuador Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

Summary

GlobalData expects Ecuador’s construction industry to shrink marginally by 0.5% in real terms in 2023, owing to subdued investor and consumer confidence amid economic, political and financial turmoil, coupled with headwinds such as high inflation, rising poverty, and drug trafficking-related violence in the country. In another setback to the industry's growth, in August 2023, the country voted in the favor of banning oil drilling in the Amazon’s Yasuní National Park. As a result, the country's state-owned oil company Petroecuador will no longer be able to exploit oil reserves in the region, thereby costing the country an estimated $600 million in revenue per annum. The center-right candidate Daniel Noboa was elected as the country's new president in October 2023, after winning by a margin of around 5% over his rival - Luisa González. The presidential run-off elections were called after the former president Guillermo Lasso cut short his term and dissolved the country’s National Assembly in May 2023, amidst his impeachment trial.
Ecuador’s construction industry is expected to rebound at an average annual growth rate of 3.6% from 2024 to 2027, supported by investment in mining, transport, electricity, education, and housing sectors. In July 2023, the former government concluded negotiations with the Australian miner SolGold to develop the underground Cascabel mine in Ecuador; this is expected to require an investment of $4.9 billion over the project’s lifetime. The project is expected to generate $35 billion in export revenue and attract approximately $8 billion in royalties and taxes to state coffers during its operating life. In August 2023, the Canadian mining company Dundee Precious Metals (DPM) signed an investment contract with the former government to invest $419 million in the Cristal mining concession. Previously, in December 2022, the Ministry of Energy and Mines reported that the country is expected to generate over $4 billion in annual mining exports by 2025.

The 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.