Spain Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

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 activityCritical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Spain’s construction industryAnalysis 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 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-sectorAnalysis 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 consultantsReasons to BuyIdentify 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.