Construction in Argentina – Key Trends and Opportunities to 2025 (Q2 2021)

Argentina’s construction output is now forecast to partially recover by 10% in 2021, following a decline of 18.9% in 2020. Over the remainder of the forecast period, construction output is expected to grow by 2.5%. The revised figures reflect the stronger-than-expected performance in the second half of 2020, mainly thanks to the easing of Coronavirus (COVID-19) restrictions in many parts of the country.

However, Argentina is currently undergoing a second wave of COVID-19 infections, with record cases in recent weeks. As a result, the government is seeking to accelerate its vaccination program, which has been delayed due to supply shortages, and is also looking to impose more localized restrictions based on caseload data to protect the country’s economic recovery. Soaring inflation and rising unemployment levels present major downside risks to the sector’s short-term outlook – this, together with the uncertainty over the government’s policies ahead of October’s mid-term elections, is expected to continue to hold back much-needed foreign and private investment in infrastructure in the short term.

Even though the construction, manufacturing and finance sectors continued to post gains in recent months, the tourism industry continued to register sharp losses due to the ongoing travel restrictions and the slow pace of vaccine rollouts.

The latest data from the National Institute of Statistics and Census (INDEC) indicated that Argentina’s construction value-add rose by 15.6% quarter on quarter (QoQ) in Q4 2020, from an upwardly revised increase of 63.3% in the previous quarter. On a year-on-year (Y-o-Y) basis, however, the industry grew by 3.5% in Q4 2020, following an upwardly revised contraction of -21.6% in Q3 2020 (which was -29.5% previously).

Construction activity in Argentina plunged by 51.9% in Q2 2020, compared to a drop of 19.7% in Q1 2020, as most construction projects across the country were forced to stop amid the lockdown measures imposed by the government to slow the spread of the virus. Overall, the industry fell by 22.6% in real value-add terms last year.

GlobalData’s "Construction in Argentina – Key Trends and Opportunities to 2025 (Q2 2021)" report provides detailed market analysis, information, and insights into Argentina’s construction industry, including –

– Argentina’s construction industry's growth prospects by market, project type and construction activity

– Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Argentina’s construction industry

– Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in Argentina. It provides –

– Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Argentina, 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

Reasons to buy

– Identify and evaluate market opportunities using GlobalData'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 strategy using GlobalData's critical and actionable insight.

– Assess business risks, including cost, regulatory and competitive pressures.

– Evaluate competitive risk and success factors.

Table of Contents

Table of Contents

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

7.1 What is this Report About?

7.2 Definitions

7.3 CRI Methodology

7.4 GlobalData Construction

Contact Us

List of Tables

List of Tables

Table 1: Construction Industry Key Data

Table 2: Argentina, Key Economic Indicators

Table 3: Argentina, Commercial Construction Output by Project Type (Real % Change), 2016-2025

Table 4: Argentina, Top Commercial Construction Projects by Value

Table 5: Argentina, Industrial Construction Output by Project Type (Real % Change), 2016-2025

Table 6: Argentina, Top Industrial Construction Projects by Value

Table 7: Argentina, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025

Table 8: Argentina, Top Infrastructure Construction Projects by Value

Table 9: Argentina, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025

Table 10: Argentina, Top Energy and Utilities Construction Projects by Value

Table 11: Argentina, Institutional Construction Output by Project Type (Real % Change), 2016-2025

Table 12: Argentina, Top Institutional Construction Projects by Value

Table 13: Argentina, Residential Construction Output by Project Type (Real % Change), 2016-2025

Table 14: Argentina, Top Residential Construction Projects by Value

Table 15: Argentina, Key Contractors

Table 16: Argentina, Key Consultants

Table 17: Argentina, Construction Output Value (Real, US$ Million)

Table 18: Argentina, Construction Output Value (Nominal, ARS Billion)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

List of Figures

Figure 1: South and Central America, Construction Output (Real % Change), 2020 and 2021

Figure 2: Argentina, Construction Projects Pipeline by Sector (US$ Billion)

Figure 3: Argentina, COVID-19 Confirmed Cases

Figure 4: Argentina, Risk Summary

Figure 5: Argentina, Risk Regional Comparison

Figure 6: Argentina, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025

Figure 7: Argentina, Construction Output Value, by Sector (Real, US$ Million), 2016-2025

Figure 8: Argentina, Construction Value-Add (ARS Million, 2004 Constant Prices), YoY % Change

Figure 9: Argentina, Synthetic Indicator of Construction Activity (2004=100), YoY % Change

Figure 10: Argentina, Gross Fixed Capital Formation (ARS Million, 2004 Constant Prices), YoY % Change

Figure 11: Argentina, Total Area Authorized for Building Permits (In Thousand m2), YoY % Change

Figure 12: Argentina, Construction Projects Momentum Index

Figure 13: Argentina, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 14: Argentina, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 15: Argentina, Total Foreign Tourist Arrivals (In Thousands), YoY % Change

Figure 16: Argentina, Hotels and Restaurants Value-Add (ARS Million, 2004 Constant Prices), YoY % Change

Figure 17: Argentina, Total Retail Sales (ARS Million, December 2016 Constant Prices), YoY % Change

Figure 18: Argentina, Wholesale and Retail Trade Value-Add (ARS Million, 2004 Constant Prices), YoY % Change

Figure 19: Argentina, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 20: Argentina, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 21: Argentina, Manufacturing Value-Add (ARS Million, 2004 Constant Prices), YoY % Change

Figure 22: Argentina, Manufacturing Production Index (2004=100), YoY % Change

Figure 23: Argentina, Total Export Value (US$ Million), YoY % Change

Figure 24: Argentina, Production and Exports of Automobiles and Light Commercial Vehicles

Figure 25: Argentina, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 26: Argentina, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 27: Argentina, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 28: Argentina, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 29: Argentina, Electricity, Gas and Water Value-Add (ARS Million, 2004 Constant Prices), YoY % Change

Figure 30: Argentina, Net Electricity Generation (GWh), YoY % Change

Figure 31: Argentina, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 32: Argentina, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 33: Argentina, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 34: Argentina, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 35: Argentina, Real Estate Value-Add (ARS Million, 2004 Constant Prices), YoY % Change

Figure 36: Argentina, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 37: Argentina, Headquarters of Key Consultants (% of Total Project Pipeline)

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