Spain Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027
Summary
Spain’s construction industry continues to perform relatively well compared to other major markets in Europe, with growth of 4.1% last year followed by 3.5% this year. The solid expansion reflects investments in the transport, renewable energy, housing, and industrial sectors. The expansion is also being supported by rising foreign direct investment (FDI) and financial support from the European Union (EU) under the Recovery and Resilience Facility (RRF). According to government estimates, gross foreign investment flows into Spain grew by 8.1% year-on-year (YoY), in gross terms, in the first quarter of 2023. In July 2023, the European Commission authorized a Spanish State aid scheme worth EUR350 million ($357.4 million) to support the construction and operation of electricity storage facilities, which have a combined capacity of 1GW.
Forecast-period growth in the Spanish construction industry will also be supported by the government’s aim to become carbon neutral by 2050. In June 2023, the Spanish Ministry of Ecological Transition (MITECO) unveiled a draft for the revised National Energy and Climate Plan (NECP). As per the draft, the government aims to have 214GW of total installed capacity in the electricity sector by 2030. This includes 76GW of photovoltaic power, 62GW of wind power, 22GW of storage capacity, 4.8GW of solar thermal power, and 1.4GW of biomass power. The draft estimates a mobilization of investments worth EUR294 billion ($300.2 billion) from 2023 to 2030. Of the total, 40% will go towards renewable energy projects, 29% towards energy savings and efficiency initiatives, 18% towards energy networks, and 12% towards the electrification of the economy.
The report provides detailed market analysis, information and insights into Spain’s construction industry, including -
- Spain’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 Spain’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.
This report provides a comprehensive analysis of the construction industry in Spain. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Spain, 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 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Context
- 3.1 Economic Performance
- 3.2 Political Environment and Policy
- 3.3 Demographics
- 3.4 Risk Profile
- 4 Construction Outlook
- 4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
- 4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
- 4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
- 5 Key Industry Participants
- 5.1 Contractors
- 5.2 Consultants
- 6 Construction Market Data
- 7 Appendix
- 7.1 What is this Report About?
- 7.2 Definitions
- 7.3 CRI Methodology
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Spain, Key Economic Indicators
- Table 3: Spain, Commercial Construction Output by Project Type (Real % Change), 2018–27
- Table 4: Spain, Top Commercial Construction Projects by Value
- Table 5: Spain, Industrial Construction Output by Project Type (Real % Change), 2018–27
- Table 6: Spain, Top Industrial Construction Projects by Value
- Table 7: Spain, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
- Table 8: Spain, Top Infrastructure Construction Projects by Value
- Table 9: Spain, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
- Table 10: Spain, Top Energy and Utilities Construction Projects by Value
- Table 11: Spain, Institutional Construction Output by Project Type (Real % Change), 2018–27
- Table 12: Spain, Top Institutional Construction Projects by Value
- Table 13: Spain, Residential Construction Output by Project Type (Real % Change), 2018–27
- Table 14: Spain, Top Residential Construction Projects by Value
- Table 15: Spain, Key Contractors
- Table 16: Spain, Key Consultants
- Table 17: Spain, Construction Output Value (Real, $ Million)
- Table 18: Spain, 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: Spain, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
- Figure 3: Spain, Risk Summary
- Figure 4: Spain, Risk Regional Comparison
- Figure 5: Spain, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27
- Figure 6: Spain, Construction Output Value, by Sector (Real, $ Million), 2018–27
- Figure 7: Spain, Constructions Value Add (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 8: Spain, Construction Production Index, 2015=100
- Figure 9: Spain, Gross Fixed Capital Formation in Construction Sector, 2015 Chain Linked Volume Measures (EUR Million)
- Figure 10: Spain, Employment in the Construction Industry (In Thousands)
- Figure 11: Spain, Construction Projects Momentum Index
- Figure 12: Western Europe, Construction Projects Momentum Index
- Figure 13: Spain, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 14: Spain, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 15: Spain, International Tourist Arrivals (in Thousands) and Spending by International Tourists (In EUR Million)
- Figure 16: Spain, Wholesale and retail trade Value Add (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 17: Spain, Employment in the wholesale and retail sector (In Thousands)
- Figure 18: Spain, Employment in the hospitality sector (In Thousands)
- Figure 19: Spain, Retail Turnover Index, Constant Prices, 2015=100
- Figure 20: Spain, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 21: Spain, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: Spain, Manufacturing Value Add (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 23: Spain, Industrial New Orders, % Change YoY
- Figure 24: Spain, Production Index, 2015=100
- Figure 25: Spain, Vehicle Production and Exports, In Thousands
- Figure 26: Spain, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 27: Spain, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Spain, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 29: Spain, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Spain, Information and Communication Value Add (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 31: Spain, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 32: Spain, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: Spain, Public Administration, Defence, Education, Human Health and Social Work Activities Value Add (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 34: Spain, Residential Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 35: Spain, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 36: Spain, Real Estate Value Add (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 37: Spain, Gross Fixed Capital Formation for Dwellings (EUR Million, 2015 Chain Linked Volume Prices)
- Figure 38: Spain, House Price Index, 2015=100
- Figure 39: Spain, Housing Sales (in Number)
- Figure 40: Spain, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 41: Spain, Headquarters of Key Consultants (% of Total Project Pipeline)
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