DUBLIN--(BUSINESS WIRE)--The "Spain Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Spain is expected to expand by 8.3% in real terms in 2022, following an annual decline of 4.1% in 2021, supported by a favorable base effect, coupled with spending through the European Union (EU) Recovery and Resilience Facility (RRF), and favorable monetary conditions.
Spain received a EUR9 billion ($10.6 billion) fund in August 2021 to finance the nation's Recovery Plan, which includes investments in housing, education, and health, and received a preliminary approval for a EUR10 billion ($11.8 billion) disbursement in December 2021 under the RRF to cover initiatives in energy efficiency, decarbonization, connectivity, public administration, education and social, research and development.
In December 2021, the parliament approved Spain's 2022 Budget, which involves spending of EUR240 billion ($264.1 billion) in 2022, a marginal increase of 0.2% compared to the previous year's budget. As part of the budget, the government allocated EUR11.8 billion ($14 billion) to resilient infrastructures and ecosystems, EUR1.6 billion ($1.9 billion) to telecommunications for the deployment of 5G networks, EUR630 million ($745.2 million) for the development of innovative renewable energies, and EUR2.8 billion ($3.3 billion) for housing rehabilitation and urban regeneration.
In addition to this spending, the decline in Coronavirus (COVID-19) cases and progress in the country's vaccination drive will also enhance business confidence, thereby supporting the construction industry's output this year. Although the Spanish construction industry is expected to return to growth in 2022, the industry is projected to remain well below the pre-pandemic levels until 2024, with additional downside risks stemming from high energy costs and inflated construction material prices.
The industry is expected to register annual growth in the range of 2.4 - 4% from 2023 to 2026, supported by infrastructure developments in energy, housing, and industrial sectors. In December 2021, the government announced a national road map for ocean-based renewables development, with the goal of deploying up to 3GW of floating wind farms and up to 60MW of various types of marine energy by 2030.
In addition, in November 2021, the government had set a target of mobilizing EUR10 billion ($11.8 billion) for housing programs until 2025, with the support of Recovery, Transformation, and Resilience Plan (PRTR) and the Affordable Rent Plan.
Scope
- Historical (2017-2021) and forecast (2022-2026) 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
- 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
For more information about this report visit https://www.researchandmarkets.com/r/i674gd.
