Panama Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecasts, 2022-2026

Panama Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecasts, 2022-2026

Summary

The construction industry in Panama is forecasted to grow by 15.8% in real terms in 2022, following an annual increase of 31.7% in 2021. The industry’s growth in 2022 will be supported by the government’s focus on investing in infrastructure in response to the Coronavirus (COVID-19) pandemic-hit economy. According to the National Institute of Statistics and Census of Panama (INEC), the construction industry’s value-add grew by 18.5% year-on-year (YoY) in Q1-Q3 2022. Growth is largely attributed to the low base effect from 2020 where the output decreased sharply, however, the recovery has been supported by investment in public infrastructure projects such as the widening and maintenance of roads, coupled with works on the second and third lines of the metro. Previously in March 2022, the Ministry of Public Works (MOP) had reported that it will develop 28 turnkey projects to build and rehabilitate roads in Panama, in 2022.

The industry’s growth over the forecast period will also be supported by the government’s focus on attracting private sector investment in the country. The government is tendering major infrastructure projects, as part of the Public-Private Partnership (PPP) law that was passed in 2019. In November 2022, the MOP announced that it will tender its first highway PPP project - Panamericana Este - in Q1 2023. The $240 million project will be structured by the International Finance Corporation (IFC), with financial support from the International Bank for Reconstruction and Development (IBRD) and the Central American Bank for Economic Integration (CABEI). This project is in line with the country’s plan to offer up to 2,000km of the national highway network as PPPs, in the coming years.

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

• Panama’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 Panama’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 Panama. It provides -

• Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Panama, 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.