The "Construction in Spain Key Trends and Opportunities to 2025 (Q4 2021)" report has been added to ResearchAndMarkets.com's offering.
The Spanish construction industry is expected to grow marginally by 0.8% in real terms this year, after a sharp decline of 11.3% in 2020. According to Eurostat, the value add of the construction industry declined by 8.8% year on year (YoY) in Q3 2021, in a worse outturn than had been predicted. This was preceded by Y-o-Y growth of 11.1% in Q2 and a decline of 11.4% in Q1 2021.
The construction production index for civil engineering works also fell by 7.8% YoY in the first three quarters of 2021, according to the Instituto Nacional de Estadistica (INE). For the rest of 2021 and early 2022, construction activity is expected to remain weak, as the Bank of Spain forecasted supply bottlenecks, with inflation and energy prices to continue to remain at an all-time high.
Supply bottlenecks and high prices will continue be a concern for the industry in 2022, but construction output is expected to recover in 2022, supported by the government's emergency measures to reduce high energy bills and the disbursements under the Next Generation EU (NGEU) Recovery Fund, under which the government plans to spend EUR27.6 billion (US$33.6 billion) in 2022. In the draft budget 2022, including the EU recovery fund, the government is planning to invest EUR2.8 billion (US$3.4 billion) to create energy efficient buildings in 2022. In October 2021, the ministry of finance announced the draft budget for the fiscal year (FY) 2022, which involves a spending package worth EUR242 billion (US$264.1 billion) in 2022, marking a marginal increase of 0.2% compared to last year. The package includes the EU recovery fund, which almost tripled from 2021. The government also plans to cut the deficit to 5% of GDP in 2022, from a projected 8.4% in 2021 and to 4% in 2023. The government's focus on producing 70% of its electricity from renewable energy sources by 2030 and the 'Sustainable Tourism Strategy of Spain 2030' will also support the forecast-period growth.
The report provides detailed market analysis, information and insights into the Spanish construction industry, including:
- The Spanish 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 Spanish 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 (2016-2020) and forecast (2021-2025) 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
Key Topics Covered:
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 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/czljye
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005516/en/
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