Albany, NY -- (SBWIRE) -- 05/12/2015 -- 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

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Executive summary

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.

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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

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

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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.

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