Synopsis
Spain’s construction industry was adversely affected by the country’s economic crisis; however in early 2015 it showed signs of recovery, particularly in the residential construction market. In real terms, the industry’s output value is forecast to rise at a compound annual growth rate (CAGR) of 2.72% over the forecast period (2015-2019), in sharp contrast to the 7.1% decline recorded during the review period (2010-2014). According to Eurostat, the construction industry’s production rate in real terms rose by 2.0% in the fourth quarter of 2014 compared to the fourth quarter of 2013. Investment in construction grew by 1.8% in 2014 over 2013. Consequently, the industry began to show signs of improvement, and is anticipated to recover over the forecast period.
Scope
This report provides a comprehensive analysis of the construction industry in Spain. It provides:
• Historical (2010-2014) and forecast (2015-2019) valuations of the construction industry in Spain using construction output and value-add methods
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, 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
• Detailed profiles of the leading construction companies in Spain
Summary
Timetric’s Construction in Spain - Key Trends and Opportunities to 2019 report provides detailed market analysis, information and insights into Spanish construction industry including:
• The Spanish construction industry's growth prospects by market, project type and type of construction activity
• Analysis of equipment, material and service costs across each project type in Spain
• Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Spanish construction industry
• Profiles of the leading operators in the Spanish construction industry.
• Data highlights of the largest construction projects in Spain
Reasons To Buy
• Identify and evaluate market opportunities using Timetric'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 business strategies using Timetric's critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors
Key highlights
• Residential construction demand was weak in Spain during the review period, as indicated by the sluggish economy, high unemployment rate and contacting disposable incomes, leaving the nation with excess housing stock and incomplete projects. The Spanish real estate market was adversely affected by the European debt crisis, and property prices have been variable since 2007. However, the Spanish housing market is on a path to recovery, as evidenced by 0.2% increase in house prices in nominal terms in the fourth quarter of 2014 compared to the previous quarter of the same year. Moreover, the residential construction market is anticipated to flourish over the forecast period, as foreign investors look to purchase both new and second-hand properties.
• Transport infrastructure in Spain is highly developed, but the government is keen to continue a process of modernization and expansion. After six years of recession in the Spanish economy, the government has planned to increase investment spending in the 2015 state budget by 8.8% to reach EUR9.5 billion (US$12.9 billion). The infrastructure construction market is therefore projected to grow over the forecast period, supported by government focus on rail and road infrastructure.
• The country’s expanding population and improving economic conditions continue to generate demand for infrastructure development. In 2012 the Spanish Ministry of Public Works and Transport introduced the Infrastructure, Transport and Housing Plan (PITVI) 2012-2024, through which the government plans to increase annual investment in railways by 13.7%, to EUR5.2 billion (US$7.0 billion) in 2015.
• A trend of recovery in the country’s non-residential real estate activities is anticipated to strengthen in line with the economic recovery in 2015. According to Eurostat, the Spanish building construction output rose by 7.0% in the second-quarter of 2014 compared to the previous quarter. The outlook for commercial real estate activities is expected to be favorable over the forecast period on account of improving lending activities and progress in labor market conditions, with the generation of 425,000 jobs in 2014.
1 Executive Summary
2 INDUSTRY OUTLOOK
2.1 Commercial Construction
2.2 Industrial Construction
2.3 Infrastructure Construction
2.4 Energy and Utilities Construction
2.5 Institutional Construction
2.6 Residential Construction
3 KEY ISSUES AND DEVELOPMENTS
4 MARKET DATA ANALYSIS
4.1 Construction Output and Value Add
4.1.1 Construction output by project type
4.1.2 Construction output by cost type
4.1.3 Construction output by activity type
4.1.4 Construction value add by project type
4.2 Commercial Construction
4.2.1 Commercial construction output by project type
4.2.2 Commercial construction output by cost type
4.2.3 Commercial construction output by activity type
4.2.4 Commercial construction value add by project type
4.3 Industrial Construction
4.3.1 Industrial construction output by project type
4.3.2 Industrial construction output by cost type
4.3.3 Industrial construction output by activity type
4.3.4 Industrial construction value add by project type
4.4 Infrastructure Construction
4.4.1 Infrastructure construction output by project type
4.4.2 Infrastructure construction output by cost type
4.4.3 Infrastructure construction output by activity type
4.4.4 Infrastructure construction value add by project type
4.5 Energy and Utilities Construction
4.5.1 Energy and utilities construction output by project type
4.5.2 Energy and utilities construction output by cost type
4.5.3 Energy and utilities construction output by activity type
4.5.4 Energy and utilities construction value add by project type
4.6 Institutional Construction
4.6.1 Institutional construction output by project type
4.6.2 Institutional construction output by cost type
4.6.3 Institutional construction output by activity type
4.6.4 Institutional construction value add by project type
4.7 Residential Construction
4.7.1 Residential construction output by project type
4.7.2 Residential construction output by cost type
4.7.3 Residential Construction output by activity type
4.7.4 Residential construction value add by project type
5 COMPANY PROFILE: Actividades de Construccion y Servicios SA
5.1 Actividades de Construccion y Servicios SA - Company Overview
5.2 Actividades de Construccion y Servicios SA - Business Description
5.3 Actividades de Construccion y Servicios SA - Main Services
5.4 Actividades de Construccion y Servicios SA - History
5.5 Actividades de Construccion y Servicios SA - Company Information
5.5.1 Actividades de Construccion y Servicios SA - key competitors
5.5.2 Actividades de Construccion y Servicios SA - key employees
6 COMPANY PROFILE: Ferrovial SA
6.1 Ferrovial SA - Company Overview
6.2 Ferrovial SA - Business Description
6.3 Ferrovial SA - Main Services
6.4 Ferrovial SA - History
6.5 Ferrovial SA - Company Information
6.5.1 Ferrovial SA - key competitors
6.5.2 Ferrovial SA - key employees
7 COMPANY PROFILE: Itínere Infraestructuras, SA
7.1 Itínere Infraestructuras, SA - Company Overview
7.2 Itínere Infraestructuras, SA - Main Services
7.3 Itínere Infraestructuras, SA - Company Information
7.3.1 Itínere Infraestructuras, SA - key competitors
7.3.2 Itínere Infraestructuras, SA - key employees
8 COMPANY PROFILE: Abeinsa Ingenieria y Construccion Industrial SA
8.1 Abeinsa Ingenieria y Construccion Industrial SA - Company Overview
8.2 Abeinsa Ingenieria y Construccion Industrial SA - Business Description
8.3 Abeinsa Ingenieria y Construccion Industrial SA - Main Products and Services
8.4 Abeinsa Ingenieria y Construccion Industrial SA - History
8.5 Abeinsa Ingenieria y Construccion Industrial SA - Company Information
8.5.1 Abeinsa Ingenieria y Construccion Industrial SA - key competitors
8.5.2 Abeinsa Ingenieria y Construccion Industrial SA - key employees
9 COMPANY PROFILE: FCC Construccion SA
9.1 FCC Construccion SA - Company Overview
9.2 FCC Construccion SA - Business Description
9.3 FCC Construccion SA - Main Services
9.4 FCC Construccion SA - History
9.5 FCC Construccion SA - Company Information
9.5.1 FCC Construccion SA - key competitors
9.5.2 FCC Construccion SA - key employees
10 APPENDIX
10.1 What is this Report About?
10.2 Definitions
10.3 Methodology
10.4 Contact Timetric
10.5 About Timetric
10.6 Timetric’s Services
10.7 Disclaimer
List Of Tables
Table 1: Spanish Construction Output by Project Type (EUR Million), 2010-2014
Table 2: Spanish Construction Output by Project Type (EUR Million), 2014-2019
Table 3: Spanish Construction Output by Cost Type (EUR Million), 2010-2014
Table 4: Spanish Construction Output by Cost Type (EUR Million), 2014-2019
Table 5: Spanish Construction Output by Activity Type (EUR Million), 2010-2014
Table 6: Spanish Construction Output by Activity Type (EUR Million), 2014-2019
Table 7: Spanish Construction Value Add by Project Type (EUR Million), 2010-2014
Table 8: Spanish Construction Value Add by Project Type (EUR Million), 2014-2019
Table 9: Spanish Commercial Construction Output by Project Type (EUR Million), 2010-2014
Table 10: Spanish Commercial Construction Output by Project Type (EUR Million), 2014-2019
Table 11: Spanish Commercial Construction Output by Cost Type (EUR Million), 2010-2014
Table 12: Spanish Commercial Construction Output by Cost Type (EUR Million), 2014-2019
Table 13: Spanish Commercial Construction Output by Activity Type (EUR Million), 2010-2014
Table 14: Spanish Commercial Construction Output by Activity Type (EUR Million), 2014-2019
Table 15: Spanish Commercial Construction Value Add by Project Type (EUR Million), 2010-2014
Table 16: Spanish Commercial Construction Value Add by Project Type (EUR Million), 2014-2019
Table 17: Spanish Industrial Construction Output by Project Type (EUR Million), 2010-2014
Table 18: Spanish Industrial Construction Output by Project Type (EUR Million), 2014-2019
Table 19: Spanish Industrial Construction Output by Cost Type (EUR Million), 2010-2014
Table 20: Spanish Industrial Construction Output by Cost Type (EUR Million), 2014-2019
Table 21: Spanish Industrial Construction Output by Activity Type (EUR Million), 2010-2014
Table 22: Spanish Industrial Construction Output by Activity Type (EUR Million), 2014-2019
Table 23: Spanish Industrial Construction Value Add by Project Type (EUR Million), 2010-2014
Table 24: Spanish Industrial Construction Value Add by Project Type (EUR Million), 2014-2019
Table 25: Spanish Infrastructure Construction Output by Project Type (EUR Million), 2010-2014
Table 26: Spanish Infrastructure Construction Output by Project Type (EUR Million), 2014-2019
Table 27: Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2010-2014
Table 28: Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2014-2019
Table 29: Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2010-2014
Table 30: Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2014-2019
Table 31: Spanish Infrastructure Construction Value Add by Project Type (EUR Million), 2010-2014
Table 32: Spanish Infrastructure Construction Value Add by Project Type (EUR Million), 2014-2019
Table 33: Spanish Energy and Utilities Construction Output by Project Type (EUR Million), 2010-2014
Table 34: Spanish Energy and Utilities Construction Output by Project Type (EUR Million), 2014-2019
Table 35: Spanish Energy and Utilities Construction Output by Cost Type (EUR Million), 2010-2014
Table 36: Spanish Energy and Utilities Construction Output by Cost Type (EUR Million), 2014-2019
Table 37: Spanish Energy and Utilities Construction Output by Activity Type (EUR Million), 2010-2014
Table 38: Spanish Energy and Utilities Construction Output by Activity Type (EUR Million), 2014-2019
Table 39: Spanish Energy and Utilities Construction Value Add by Project Type (EUR Million), 2010-2014
Table 40: Spanish Energy and Utilities Construction Value Add by Project Type (EUR Million), 2014-2019
Table 41: Spanish Institutional Construction Output by Project Type (EUR Million), 2010-2014
Table 42: Spanish Institutional Construction Output by Project Type (EUR Million), 2014-2019
Table 43: Spanish Institutional Construction Output by Cost Type (EUR Million), 2010-2014
Table 44: Spanish Institutional Construction Output by Cost Type (EUR Million), 2014-2019
Table 45: Spanish Institutional Construction Output by Activity Type (EUR Million), 2010-2014
Table 46: Spanish Institutional Construction Output by Activity Type (EUR Million), 2014-2019
Table 47: Spanish Institutional Construction Value Add by Project Type (EUR Million), 2010-2014
Table 48: Spanish Institutional Construction Value Add by Project Type (EUR Million), 2014-2019
Table 49: Spanish Residential Construction Output by Project Type (EUR Million), 2010-2014
Table 50: Spanish Residential Construction Output by Project Type (EUR Million), 2014-2019
Table 51: Spanish Residential Construction Output by Cost Type (EUR Million), 2010-2014
Table 52: Spanish Residential Construction Output by Cost Type (EUR Million), 2014-2019
Table 53: Spanish Residential Construction Output by Activity Type (EUR Million), 2010-2014
Table 54: Spanish Residential Construction Output by Activity Type (EUR Million), 2014-2019
Table 55: Spanish Residential Construction Value Add by Project Type (EUR Million), 2010-2014
Table 56: Spanish Residential Construction Value Add by Project Type (EUR Million), 2014-2019
Table 57: Actividades de Construccion y Servicios SA, Key Facts
Table 58: Actividades de Construccion y Servicios SA, Main Services
Table 59: Actividades de Construccion y Servicios SA, History
Table 60: Actividades de Construccion y Servicios SA, Key Employees
Table 61: Ferrovial SA, Key Facts
Table 62: Ferrovial SA, Main Services
Table 63: Ferrovial SA, History
Table 64: Ferrovial SA, Key Employees
Table 65: Itínere Infraestructuras, SA, Key Facts
Table 66: Itínere Infraestructuras, SA, Main Services
Table 67: Itínere Infraestructuras, SA, Key Employees
Table 68: Abeinsa Ingenieria y Construccion Industrial SA, Key Facts
Table 69: Abeinsa Ingenieria y Construccion Industrial SA, Main Products and Services
Table 70: Abeinsa Ingenieria y Construccion Industrial SA, History
Table 71: Abeinsa Ingenieria y Construccion Industrial SA, Key Employees
Table 72: FCC Construccion SA, Key Facts
Table 73: FCC Construccion SA, Main Services
Table 74: FCC Construccion SA, History
Table 75: FCC Construccion SA, Key Employees
Table 76: Timetric Construction Market Definitions
List Of Figures
Figure 1: Spanish Construction Output (Real US$ 2010, Million), 2010-2019
Figure 2: Growth Matrix for Construction Output in Spain (US$ Million), 2010-2019
Figure 3: Spanish Construction Output by Project Type (EUR Million), 2010-2019
Figure 4: Spanish Construction Output by Cost Type (EUR Million), 2010-2019
Figure 5: Spanish Construction Output by Activity Type (EUR Million), 2010-2019
Figure 6: Spanish Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 7: Spanish Commercial Construction Output by Project Type (EUR Million), 2010-2019
Figure 8: Spanish Commercial Construction Output by Cost Type (EUR Million), 2010-2019
Figure 9: Spanish Commercial Construction Output by Activity Type (EUR Million), 2010-2019
Figure 10: Spanish Commercial Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 11: Spanish Industrial Construction Output by Project Type (EUR Million), 2010-2019
Figure 12: Spanish Industrial Construction Output by Cost Type (EUR Million), 2010-2019
Figure 13: Spanish Industrial Construction Output by Activity Type (EUR Million), 2010-2019
Figure 14: Spanish Industrial Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 15: Spanish Infrastructure Construction Output by Project Type (EUR Million), 2010-2019
Figure 16: Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2010-2019
Figure 17: Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2010-2019
Figure 18: Spanish Infrastructure Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 19: Spanish Energy and Utilities Construction Output by Project Type (EUR Million), 2010-2019
Figure 20: Spanish Energy and Utilities Construction Output by Cost Type (EUR Million), 2010-2019
Figure 21: Spanish Energy and Utilities Construction Output by Activity Type (EUR Million), 2010-2019
Figure 22: Spanish Energy and Utilities Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 23: Spanish Institutional Construction Output by Project Type (EUR Million), 2010-2019
Figure 24: Spanish Institutional Construction Output by Cost Type (EUR Million), 2010-2019
Figure 25: Spanish Institutional Construction Output by Activity Type (EUR Million), 2010-2019
Figure 26: Spanish Institutional Construction Value Add by Project Type (EUR Million), 2010-2019
Figure 27: Spanish Residential Construction Output by Project Type (EUR Million), 2010-2019
Figure 28: Spanish Residential Construction Output by Cost Type (EUR Million), 2010-2019
Figure 29: Spanish Residential Construction Output by Activity Type (EUR Million), 2010-2019
Figure 30: Spanish Residential Construction Value Add by Project Type (EUR Million), 2010-2019
