Portugal 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 Portugal is expected to post marginal growth of 0.8% in real terms in 2023, following estimated annual growth of 1% in 2022, owing to headwinds caused by rising inflationary pressure, high construction costs, a reduction in export volumes, and a fall in the number of building permits issued. According to the data released by Instituto Nacional de Estatística (INE), the total number of building permits issued in in the first eleven months of 2022 was down by 2.8% year on year (YoY).
GlobalData expects growth in the Portuguese construction industry to register to gather pace from 2024, supported by the 2030 National Investment Program (PNI), under which the government plans to spend EUR21.7 billion ($22.2 billion) on transport projects by 2030. Of the total investment, the program includes investment of EUR10.5 billion ($10.7 billion) in 16 rail projects by 2030. This includes a new Lisbon - Porto high-speed line, a new cross-border Porto - Vigo line with the modernization and complete electrification of the network by 2030. The government also aims to phase out coal-based power plants in the country by 2035, and become a carbon-neutral country by 2050, which will also drive industry growth. To achieve carbon neutrality by 2050, the government is focused on reducing dependency on energy imports, oil demand and associated emissions through transport decarbonization, with over EUR10 billion ($10.2 billion) of investments in electrified rail and public transport, favourable tax treatment for electric vehicles and support for charging infrastructure by 2025.
The report provides detailed market analysis, information, and insights into the Portuguese construction industry, including -
- The Portuguese 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 Portuguese construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
- This report provides a comprehensive analysis of the construction industry in Portugal. It provides -
- Historical (2018–2022) and forecast (2023–2027) valuations of the construction industry in Portugal, 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
- 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. About GlobalData
- 2. Executive Summary
- 3. Construction Industry: At-a-Glance
- 4. Context
- 4.1 Economic Performance
- 4.2 Political Environment and Policy
- 4.3 Demographics
- 4.4 Risk Profile
- 5. Construction Outlook
- 5.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 5.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 5.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 5.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 5.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 5.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 5.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 6. Key Industry Participants
- 6.1 Contractors
- 6.2 Consultants
- 7. Construction Market Data
- 8. Appendix
- 8.1 What is this Report About?
- 8.2 Definitions
- 8.3 CRI Methodology
- 8.4 GlobalData Construction
- 9. Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Portugal, Key Economic Indicators
- Table 3: Portugal, Commercial Construction Output by Project Type (Real % Change), 2018–27
- Table 4: Portugal, Top Commercial Construction Projects by Value
- Table 5: Portugal, Industrial Construction Output by Project Type (Real % Change), 2018–27
- Table 6: Portugal, Top Industrial Construction Projects by Value
- Table 7: Portugal, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
- Table 8: Portugal, Top Infrastructure Construction Projects by Value
- Table 9: Portugal, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
- Table 10: Portugal, Top Energy and Utilities Construction Projects by Value
- Table 11: Portugal, Institutional Construction Output by Project Type (Real % Change), 2018–27
- Table 12: Portugal, Top Institutional Construction Projects by Value
- Table 13: Portugal, Residential Construction Output by Project Type (Real % Change), 2018–27
- Table 14: Portugal, Top Residential Construction Projects by Value
- Table 15: Portugal, Key Contractors
- Table 16: Portugal, Key Consultants
- Table 17: Portugal, Construction Output Value (Real, $ Million)
- Table 18: Portugal, Construction Output Value (Nominal, EUR Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Western Europe, Construction Output (Real % Change), 2021–27
- Figure 2: Portugal, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
- Figure 3: Portugal, Risk Summary
- Figure 4: Portugal, Risk Regional Comparison
- Figure 5: Portugal, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018–27
- Figure 6: Portugal, Construction Output Value, by Sector (Real, $ Million), 2018–27
- Figure 7: Portugal, Construction Value Add (EUR Million, 2016 Constant Prices)
- Figure 8: Portugal, Gross Fixed Capital Formation (EUR Million, 2015 Constant Prices)
- Figure 9: Portugal, Total Number of Building Permits Issued
- Figure 10: Portugal, Construction Projects Momentum Index
- Figure 11: Region, Construction Projects Momentum Index
- Figure 12: Portugal, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 13: Portugal, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 14: Portugal, Total Tourists Spending Nights in the Accommodation Establishments (in Number of Tourists)
- Figure 15: Portugal, Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles; Accommodation and Food Service Activities Value Add (EUR Million, 2016 Chained Prices)
- Figure 16: Portugal, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 17: Portugal, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 18: Portugal, Industrial Production Index (2015=100)
- Figure 19: Portugal, Total Export Value (EUR Million)
- Figure 20: Portugal, Industry Value Add (EUR Million, 2016 Chained Prices)
- Figure 21: Portugal, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 22: Portugal, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 23: Portugal, Transportation Value-Add (EUR Million, 2016 chained prices)
- Figure 24: Portugal, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 25: Portugal, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 26: Portugal, Energy, Water Supply and Sewerage Value Add (EUR Million, 2016 Chained Prices)
- Figure 27: Portugal, Information and Communication Value Add (EUR Million, 2015 Chain Linked Volumes)
- Figure 28: Portugal, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 29: Portugal, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Portugal, Education Value Add (EUR Million, 2015 Chain Linked Volumes)
- Figure 31: Portugal, Residential Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 32: Portugal, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: Portugal, Real Estate Value Add (EUR Million, 2015 Constant Prices)
- Figure 34: Portugal, Residential Building Permits Issued (Unit, Number)
- Figure 35: Portugal, Value of Housing Transactions (EUR Million)
- Figure 36: Portugal, Housing Price Index (2015=100)
- Figure 37: Portugal, New Housing Construction Cost Index (2015=100)
- Figure 38: Portugal, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 39: Portugal, Headquarters of Key Consultants (% of Total Project Pipeline)
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