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

Uruguay 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 Uruguay is estimated to expand by 2.5% in real terms in 2023, following annual growth of 7% in 2022. This deceleration in growth is owing partly to the weaker economy owing to the impact of severe drought. The industry’s growth in 2023 will however be supported by public and private sector investment in transport and electricity sectors. Uruguay’s Minister of Transportation and Public Works reported in January 2023 that it foresees an investment of UYU36.8 billion ($900 million) in road construction in 2023 - an investment similar to that of 2022.

GlobalData expects the industry to record an annual average growth rate of 2.8% from 2024 to 2027, supported by investments in the renewable energy, manufacturing, tourism, transport, housing, and telecommunications sectors. In May 2023, Uruguay’s Regulatory Unit of Communications Services (URSEC) held the country’s first auction of 5G spectrum, in which, Uruguayan telecommunication operators Claro and Movistar secured 5G frequencies. They have each acquired a block of 100MHz in the 3.5GHz band, for a total of UYU2.3 billion ($56 million).

Forecast-period growth in the industry will also be supported by the government’s focus on improving the country’s trade relations. In January 2023, Uruguay’s President Luis Lacalle Pou and Brazil’s President Luiz Inácio Lula da Silva announced that they plan to develop three joint infrastructure projects to improve the trade relationship between the two neighboring countries. It includes transforming Uruguay’s Rivery airport into an international airport and developing the infrastructure across the waterway in dos Patos lagoon and Mirim

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

• Uruguay’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 Uruguay’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 Uruguay. It provides -

• Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Uruguay, 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.