Spain Construction Market Size (2024 - 2029)

Spain Construction Market Analysis

The Spain Construction Market size is estimated at USD 192.55 billion in 2024, and is expected to reach USD 223.22 billion by 2029, growing at a CAGR of 3% during the forecast period (2024-2029).

 The industry's development amid the figure period will be backed by ventures within the vitality, transportation, lodging, and mechanical segments.

• The development industry in Spain is anticipated to extend by 3.5% in genuine terms this year, upheld by a positive base, coupled with ventures within the vitality and transport framework divisions and payment as a portion of the NextGenerationEU (NGEU) Recuperation Finance, beneath which, the government plans to spend EUR28.4 billion (USD 29.1 billion) in 2022. Despite this development in 2022, yield in genuine terms is still around 13% lower than in 2019, reflecting the industry's battle to bounce back from the COVID-19 disturbance. The brief terms viewpoint is additionally decently bleak, with the Spanish development industry anticipated to shrivel hardly by 0.3% in 2023, owing to headwinds caused by rising intrigued rates and tall vitality and development fabric costs. Concurring to the Eurostat, the normal development fetched file rose by 13.8% YoY within the seven months of 2022.
• However, there are a few positive signs of enhancement in common. For illustration, the nation added up to EUR15.6 billion (USD 16 billion) in remote ventures amid the primary half of the year 2022, which speaks to 53.4% year-on-year (Y-o-Y) development. Yield will moreover proceed to be supported by speculations within the electricity, transport, lodging, and mechanical divisions. Within the to begin with two rounds of the renewable vitality barters that the government held in 2021, the government granted 5.6GW of wind and 3.8GW of sun-oriented vitality capacity. In October 2022, through the third sell-off, the government apportioned 177MW - of which 31MW to dispersed sun-based photovoltaic (PV) and 141MW to biomass.
• For the improvement of the private division, in September 2022, the Spanish Government proposed a modern arrangement of remodeling around half a million homes by the conclusion of 2026, which includes an allotment of EUR6.8 billion (USD 7 billion) from the EU's following Era support.

Spain Construction Industry Segmentation

Construction is the process of planning, designing, and constructing infrastructure and buildings in Spain. It involves using a range of materials, methods, and technologies to create various structures, including roads, bridges, tunnels, dams, airports, and buildings.

The Spanish construction market is segmented by sector (residential, commercial, industrial, infrastructure (transportation), and energy and utilities). The report also analyses the Spanish construction market's key players and competitive landscape. The impact of COVID-19 has also been incorporated and considered during the study. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.