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

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

Summary

The construction industry in Panama is estimated to expand by 11.6% in real terms in 2023, following an annual growth of 15.8% in 2022. However, despite this growth, the industry's output value in real terms will remain below the 2019 level until 2025. The industry’s growth in 2023 will be supported by the government’s focus on infrastructure development. Panama’s government had budgeted approximately $9.4 billion to carry out various transport, health, and education infrastructure projects in 2023. This includes upgrade of the east Pan-American highway, construction of the La Pesa elevated viaduct, and widening of Las Américas-Arraiján section of Pan-American highway, among others.

GlobalData expects the construction industry in Panama to record an annual average growth rate of 6.4% between 2024 and 2027, supported by investments in the transport, renewable energy, green hydrogen, and telecommunication infrastructure projects. In April 2023, Tigo Panama announced that it will invest $500 million over the next five years in its mobile and fixed network infrastructure. In another positive development, in late April 2023, the National Secretariat of Energy (SNE) launched a public consultation that seeks to strengthen the National Strategy for Green Hydrogen and Derivatives in Panama (ENHIVE). By the end of this year, the government plans to establish an inter-governmental organization that facilitates the international trade of renewable hydrogen and its derivatives. The inter-governmental organization - known as “Hydrogen International Trade Organisation” - will seek to set targets and strategies for renewable hydrogen production, aiming to produce 500,000 tons of green hydrogen per year by 2030, two million tons per year by 2040, and four million tons per year by 2050.

This 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 (2018-2022) and forecast (2023-2027) valuations of the construction industry in Panama's, 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.