Construction in Portugal – Key Trends and Opportunities to 2025 (H1 2021)

Despite the outbreak of Coronavirus (COVID-19), the Portuguese construction industry expanded by 3.3% in real terms in 2020, driven by public and private sector investments in both building and civil engineering works. Industry growth decelerated in 2020, however, compared with the growth rate of 5.1% in real terms in 2019.

According to the Instituto Nacional de Estatística (INE), the industry’s value-add grew by 3.6% YoY in the fourth quarter 2020 and was preceded by growth of 4.4% in both Q3 and Q2 2020.

GlobalData forecasts the construction industry to grow by 4.4% in real terms in 2021, and it is thereafter expected to post an annual average growth rate of 1.8% between 2022-2025, supported by the government’s focus on developing the country’s infrastructure. In October 2020, the government approved the 2030 National Investment Program (PNI), under which it intends to spend EUR43 billion (US$48.1 billion) to develop the country’s transport and energy infrastructure by 2030. The government plans to spend EUR21.7 billion (US$23.9 billion) on transport projects and EUR13 billion (US$14.3 billion) to develop the country’s energy infrastructure, which is largely focused on hydrogen production.

GlobalData’s "Construction in Portugal – Key Trends and Opportunities to 2025 (H1 2021)" report provides detailed market analysis, information, and insights into the Portuguese construction industry, including –

– The Portuguese 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 the Portuguese 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 Portugal. It provides –

– Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Portugal, 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: Portugal, Key Economic Indicators

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

Table 4: Portugal, Top Commercial Construction Projects by Value

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

Table 6: Portugal, Top Industrial Construction Projects by Value

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

Table 8: Portugal, Top Infrastructure Construction Projects by Value

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

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

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

Table 12: Portugal, Top Institutional Construction Projects by Value

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

Table 14: Portugal, Top Residential Construction Projects by Value

Table 15: Portugal, Key Contractors

Table 16: Portugal, Key Consultants

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

Table 18: Portugal, Construction Output Value (Nominal, EUR Million)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

List of Figures

Figure 1: Western Europe, Construction Output (Real % Change), 2020 and 2021

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

Figure 3: Portugal, COVID-19 Confirmed Cases

Figure 4: Portugal, Risk Summary

Figure 5: Portugal, Risk Regional Comparison

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

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

Figure 8: Portugal, Construction Value-Add (EUR Million, 2016 Constant Prices)

Figure 9: Portugal, Gross Fixed Capital Formation (EUR Million, 2015 Chain Linked)

Figure 10: Portugal, Construction Projects Momentum Index

Figure 11: Portugal, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 12: Portugal, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 13: Portugal, Total Tourist Arrivals

Figure 14: Portugal, Retail Trade Volume Index (2015=100)

Figure 15: Portugal, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 16: Portugal, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 17: Portugal, Industrial Production Index (2015=100)

Figure 18: Portugal, Total Export Value (EUR Million)

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

Figure 20: Portugal, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 21: Portugal, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 22: Portugal, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 23: Portugal, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025

Figure 24: Portugal, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)

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

Figure 26: Portugal, Residential Construction Projects Pipeline, Value by Stage (US$ Million)

Figure 27: Portugal, Value of Housing Transactions (EUR, Million)

Figure 28: Portugal, Total Number of New Construction Permits

Figure 29: Portugal, Housing Price Index (2015=100)

Figure 30: Portugal, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 31: Portugal, Headquarters of Key Consultants (% of Total Project Pipeline)

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