Construction in Spain - Key Trends and Opportunities to 2018

Construction in Spain - Key Trends and Opportunities to 2018

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The Spanish construction industry recorded a compound annual growth rate (CAGR) of -14.48% during the review period (2008-2013). The country entered into recession in 2009, which hampered the level of construction activity during the review period. After a subsequent decline, the Spanish economy finally grew by 0.3% in the fourth quarter of 2013. The outlook of the construction industry is expected to be positive over the forecast period, with growth supported by the expansion of road and rail infrastructure, government schemes such as the Golden Visa to support the residential market, increased investor sentiment across Europe, and improved export demand. Timetric expects the Spanish construction industry to record a CAGR of 2.54% over the forecast-period (2013-2018).

Report Highlights
  • According to the National Statistics Institute (Spanish: Instituto Nacional de Estadistica, INE), the construction of new buildings declined from 91,743 units in 2009 to 56,776 units in 2012. Although the economy came out of recession in the third quarter of 2013, the forecast-period outlook for construction in Spain remains moderate due to excess stock of unoccupied houses, low wages and high unemployment.
  • In December 2013, the European Investment Bank (EIB) granted a loan of EUR465.0 million (US$597.9 million) to the Public Work Ministry to improve the nation's road networks. This loan will sponsor several road infrastructure works such as construction of bypasses, access road, upgrading and widening of national road.
  • In 2008, Spain entered into recession due to the burst of the property bubble and the increase in unemployment in the country. The Spanish unemployment rate reached 26.3% in the third quarter of 2013. However, in December 2013, the number of people unemployed fell by 107,570 according to figures released by the Labor Ministry. However, although unemployment is declining, disposable incomes remain low, negatively affecting demand for housing.
  • According to the European Automobile Manufacturer's Association (ACEA), new car registrations grew from 699,589 units in 2012 to 722,703 units in 2013, an increase of 3.3%. With positive developments in the automobile industry, major manufacturers such as Volkswagen and Renault are planning to increase their production capacities. Daimler plans to invest EUR190.0 million (US$260.0 million) to upgrade its van plant in Spain. Increased car sales and rising investment will boost demand for manufacturing plant construction over the forecast period.
  • Chemicals and pharmaceuticals is one of the main industries in Spain. According to Business Federation of the Spanish Chemistry Industry (Feique), the chemical industry will grow by 3.5% in 2014. The growth of the chemicals and pharmaceuticals category will be fueled by the strong pipeline of projects such as upgrade of chemical complex in Tarragona plant by Repsol at an expected investment of EUR70.0 million (US$94.6 million) between 2014 and 2016.
Report Scope

This report provides a comprehensive analysis of the construction industry in Spain. It provides:
  • Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Spain using construction output and value-add methods
  • Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
  • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
  • Analysis of key construction industry issues, including regulation, cost management, funding and pricing
  • Assessment of the competitive environment using Porter's Five Forces analysis
  • Detailed profiles of the leading construction companies in Spain
Reasons to Get this Report
  • Identify and evaluate market opportunities using our 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 business strategies using Timetric's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors


Table of Contents

1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
2.3 Price Dynamics
2.3.1 Salaries
2.3.2 Equipment
2.3.3 Materials
2.3.4 Energy
2.4 Porter's Five Forces Analysis
2.4.1 Bargaining power of suppliers - medium
2.4.2 Bargaining power of buyers - low
2.4.3 Barriers to entry - medium
2.4.4 Intensity of rivalry - high
2.4.5 Threat of substitution - low
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights
6 Institutional Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights
8 Company Profile: Actividades de Construccion y Servicios SA
8.1 Actividades de Construccion y Servicios SA - Company Overview
8.2 Actividades de Construccion y Servicios SA - Business Description
8.3 Actividades de Construccion y Servicios SA - Main Services
8.4 Actividades de Construccion y Servicios SA - History
8.5 Actividades de Construccion y Servicios SA - Company Information
8.5.1 Actividades de Construccion y Servicios SA - key competitors
8.5.2 Actividades de Construccion y Servicios SA - key employees
9 Company Profile: Fomento de Construcciones y Contratas SA
9.1 Fomento de Construcciones y Contratas SA - Company Overview
9.2 Fomento de Construcciones y Contratas SA - Business Description
9.3 Fomento de Construcciones y Contratas SA - Main Product and Services
9.4 Fomento de Construcciones y Contratas SA - History
9.5 Fomento de Construcciones y Contratas SA - Company Information
9.5.1 Fomento de Construcciones y Contratas SA - key competitors
9.5.2 Fomento de Construcciones y Contratas SA - key employees
10 Company Profile: Obrascon Huarte Lain, SA
10.1 Obrascon Huarte Lain, SA - Company Overview
10.2 Obrascon Huarte Lain, SA - Business Description
10.3 Obrascon Huarte Lain, SA - Main Services


Companies Mentioned:

Actividades de Construccion y Servicios SA
Fomento de Construcciones y Contratas SA
Obrascon Huarte Lain SA
Acciona SA
Ferrovial SA