Construction in Portugal - Key Trends and Opportunities to 2018

Published: Jun, 2014 | Pages: 71 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)


Synopsis
This 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 type of construction activity
Analysis of equipment, material and service costs across each project type within Portugal
Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Portuguese construction industry
Analyzing the profiles of the leading operators in the Portuguese construction industry.
Data highlights of the largest construction projects in Portugal 

Summary
The Portuguese construction industry recorded a compound annual growth rate (CAGR) of 10.67% during the review period (2009-2013) and valued EUR19.1 billion (US$25.4 billion) in 2013. During the review period, all construction markets registered negative growth, owing to the financial crisis and austerity measures implemented by the government. Although export demand has improved, the economy remained weak and the recovery is vulnerable to external risks. Until consumer and business confidence is revived, general spending and investment will remain low, undermining the prospects for construction activity growth. The construction industry's output is, therefore, expected to record a nominal CAGR of 1.06% over the forecast period (2014?2018), to reach EUR20.2 billion (US$28.4 billion) in 2018. 
Scope
This report provides a comprehensive analysis of the construction industry in Portugal. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Portugal using construction output and value-add methods
Segmentation by sector (commercial, industrial, infrastructure, 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 Portugal 
Reason To Buy
 Identify and evaluate market opportunities using our 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
 For the past decade, Portugal's construction industry has been in a state of decline. According to Statistics Portugal (Instituto Nacional de Estatistica - INE), in 2013, construction production activity was equivalent to just 40.0% of the total in 2003. The pace of decline quickened in 2012 and 2013, when the annual decline reached 16.0%. Construction value added in real terms declined from EUR6.4 million (US$8.2 million) in 2012 to EUR5.5 million (US$7.3 million) in 2013, while the contribution of total construction industry's value add to GDP in nominal terms declined from 4.4% in 2012 to 3.8% in 2013. There has also been a decline in the number of building permits issued in the country; the total fell to 16,700 in 2013, a decline of 19.6% over 2012. The number of completed buildings dropped to 19,700 in 2013, a decline of 24.1% during the same period.
In 2011, the government introduced the new toll charges on roads stretching more than 900km. The charges resulted in a decline in traffic and affected investments in road infrastructure. According to Inrix, a leading provider of traffic services, congestion was reduced by 68.0% in the first quarter of 2013. Portugal's infrastructure projects are primarily financed by public private partnerships (PPPs) and in 2012 the government decided to renegotiate these contracts with private firms to generate savings and reduce the PPP obligation by 30% over the next 30 years. Owing to these situations, the investment in the road infrastructure category is likely to decline over the forecast period.
In a bid to meet the targets set out by international lenders, the government has had to implement austerity measures. The government reduced its education spending from a peak of EUR8.5 billion (US$11.2 billion) in 2010 to EUR6.8 billion (US$8.7 billion) in 2012, with some of this saving coming from school closures. The number of schools was reduced by 1,200 to reach 6,292 for the academic year 2013-2014, and as such, future investment in new educational buildings is expected to be minimal. 
According to the INE, the movement of goods in ports increased by 20.2% in the fourth quarter of 2013, whereas railway freight transport increased by 8.0%. The road freight transport registered an increase of 19.9% in the fourth quarter of 2013. The upward trend in the transport of goods is likely to continue due to improvements in export demand, which, in turn, will attract investment in the transport infrastructure over the forecast period.
According to the World Travel and Tourism Council, the direct contribution of tourism to the country's GDP reached EUR9.4 billion (US$12.8 billion) in 2012 and is expected to increase by 2.0% annually by 2023. The number of foreign tourist arrivals in the country increased by 8.1%, to reach 3.6 million in the first half of 2013. Due to an increasing number of tourists, investment in the leisure and hospitality buildings category is expected to increase. Various upcoming projects, such as the Monte Nabo Hotel Resort & Spa, worth EUR24.0 million (US$30.0 million) and Palmares Beach and Golf Resort in Algarve, worth EUR313.1 million (US$412.0 million), will support growth in the commercial construction market.

 1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
3 Commercial Construction
3.1 Performance Outlook
3.2 Key Trends and Issues
3.3 Data and Project Highlights
4 Industrial Construction
4.1 Performance Outlook
4.2 Key Trends and Issues
4.3 Data and Project Highlights
5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Trends and Issues
5.3 Data and Project Highlights
6 Institutiol Construction
6.1 Performance Outlook
6.2 Key Trends and Issues
6.3 Data and Project Highlights
7 Residential Construction
7.1 Performance Outlook
7.2 Key Trends and Issues
7.3 Data and Project Highlights
8 Company Profile: Grupo Soares Da Costa, SGPS, SA
8.1 GrupoSoares Da Costa, SGPS, SA - Company Overview
8.2 GrupoSoares Da Costa, SGPS, SA - Business Description
8.3 GrupoSoares Da Costa, SGPS, SA - Main Products and Services
8.4 GrupoSoares Da Costa, SGPS, SA - History
8.5 GrupoSoares Da Costa, SGPS, SA - Company Information
8.5.1 GrupoSoares Da Costa, SGPS, SA - key competitors
8.5.2 GrupoSoares Da Costa, SGPS, SA - key employees
9 Company Profile: Sociedade De Empreitadas e Trabalhos Hidraulicos, SA
9.1 Sociedade de Empreitadas e TrabalhosHidraulicos, SA - Company Overview
9.2 Sociedade de Empreitadas e TrabalhosHidraulicos, SA - Main Services
9.3 Sociedade de Empreitadas e TrabalhosHidraulicos, SA - Company Information
9.3.1 Sociedade de Empreitadas e TrabalhosHidraulicos, SA - key competitors
9.3.2 Sociedade de Empreitadas e TrabalhosHidraulicos, SA - key employees
10 Company Profile: Martifer Sgps SA
10.1 Martifer SGPS SA - Company Overview
10.2 Martifer SGPS SA - Business Description
10.3 Martifer SGPS SA - Main Products and Services
10.4 Martifer SGPS SA - History
10.5 Martifer SGPS SA - Company Information
10.5.1 Martifer SGPS SA - key competitors
10.5.2 Martifer SGPS SA - key employees
11 Company Profile: Conduril - Engenharia, SA
11.1 Conduril - Engenharia, SA- Company Overview
11.2 Conduril - Engenharia, SA - Main Services
11.3 Conduril - Engenharia, SA - Company Information
11.3.1 Conduril - Engenharia, SA - key competitors
11.3.2 Conduril - Engenharia, SA - key employees
12 Company Profile: Mota-Engil Group
12.1 Mota-Engil Group - Company Overview
12.2 Mota-Engil Group - Main Services
12.3 Mota-Engil Group - Company Information
12.3.1 Mota-Engil Group - key competitors
12.3.2 Mota-Engil Group - key employees
13 Market Data Alysis
13.1 Construction Output and Value Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value add by project type
13.5 Institutiol Construction
13.5.1 Institutiol construction output by project type
13.5.2 Institutiol construction output by cost type
13.5.3 Institutiol construction output by activity type
13.5.4 Institutiol construction value add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value add by project type
14 Appendix
14.1 What is This Report About?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric's Services
14.8 Disclaimer


List of Tables
Table 1: Benchmarking with Other Major Construction Industries
Table 2: Commercial Construction Project 1 - CRI - Loures Hotel Development - Portugal
Table 3: Commercial Construction Project 2 - Beltico - ObidosFalesiad'el Rey Golf & Beach Resort - Lisbon
Table 4: Commercial Construction Project 3 - MD - Campo Grande Metropolis Office Park: Phase II - Lisbon
Table 5: Industrial Construction Project 1 - Portucel - Cacia Paper & Pulp Production Plant Expansion - Aveiro
Table 6: Infrastructure Construction Project 1 - EP - A4 Motorway-Marao Tunnel - Portugal
Table 7: Infrastructure Construction Project 2 - APDL - Leixoes Port Termil - Portugal
Table 8: Infrastructure Construction Project 3 - ER - Portela New Lisbon Airport - Lisbon
Table 9: Institutiol Construction Project 1 - FEDP - Centre of Arts and Technology - Lisbon
Table 10: Residential Construction Project 1 - MoO - Ourique Quinta da Arrabida Mixed-Use Development - Alentejo
Table 11: Residential Construction Project 2 - MoT - TaroucaAldeias de Cor Tourist Resort - Portugal
Table 12: GrupoSoares Da Costa, SGPS, SA, Key Facts
Table 13: GrupoSoares Da Costa, SGPS, SA, Main Products and Services
Table 14: GrupoSoares Da Costa, SGPS, SA, History
Table 15: GrupoSoares Da Costa, SGPS, SA, Key Employees
Table 16: Sociedade de Empreitadas e TrabalhosHidraulicos, SA, Key Facts
Table 17: Sociedade de Empreitadas e TrabalhosHidraulicos, SA, Main Services
Table 18: Sociedade de Empreitadas e TrabalhosHidraulicos, SA, Key Employees
Table 19: Martifer SGPS SA, Key Facts
Table 20: Martifer SGPS SA, Main Products and Services
Table 21: Martifer SGPS SA, History
Table 22: Martifer SGPS SA, Key Employees
Table 23: Conduril - Engenharia, S A, Key Facts
Table 24: Conduril - Engenharia, SA, Main Services
Table 25: Conduril - Engenharia, SA, Key Employees
Table 26: Mota-Engil Group, Key Facts
Table 27: Mota-Engil Group, Main Services
Table 28: Mota-Engil Group, Key Employees
Table 29: Portuguese Construction Output by Project Type (EUR Million), 2009-2013
Table 30: Portuguese Construction Output by Project Type (EUR Million), 2013-2018
Table 31: Portuguese Construction Output by Cost Type (EUR Million), 2009-2013
Table 32: Portuguese Construction Output by Cost Type (EUR Million), 2013-2018
Table 33: Portuguese Construction Output by Activity Type (EUR Million), 2009-2013
Table 34: Portuguese Construction Output by Activity Type (EUR Million), 2013-2018
Table 35: Portuguese Construction Value Add by Project Type (EUR Million), 2009-2013
Table 36: Portuguese Construction Value Add by Project Type (EUR Million), 2013-2018
Table 37: Portuguese Commercial Construction Output by Project Type (EUR Million), 2009-2013
Table 38: Portuguese Commercial Construction Output by Project Type (EUR Million), 2013-2018
Table 39: Portuguese Commercial Construction Output by Cost Type (EUR Million), 2009-2013
Table 40: Portuguese Commercial Construction Output by Cost Type (EUR Million), 2013-2018
Table 41: Portuguese Commercial Construction Output by Activity Type (EUR Million), 2009-2013
Table 42: Portuguese Commercial Construction Output by Activity Type (EUR Million), 2013-2018
Table 43: Portuguese Commercial Construction Value Add by Project Type (EUR Million), 2009-2013
Table 44: Portuguese Commercial Construction Value Add by Project Type (EUR Million), 2013-2018
Table 45: Portuguese Industrial Construction Output by Project Type (EUR Million), 2009-2013
Table 46: Portuguese Industrial Construction Output by Project Type (EUR Million), 2013-2018
Table 47: Portuguese Industrial Construction Output by Cost Type (EUR Million), 2009-2013
Table 48: Portuguese Industrial Construction Output by Cost Type (EUR Million), 2013-2018
Table 49: Portuguese Industrial Construction Output by Activity Type (EUR Million), 2009-2013
Table 50: Portuguese Industrial Construction Output by Activity Type (EUR Million), 2013-2018
Table 51: Portuguese Industrial Construction Value Add by Project Type (EUR Million), 2009-2013
Table 52: Portuguese Industrial Construction Value Add by Project Type (EUR Million), 2013-2018
Table 53: Portuguese Infrastructure Construction Output by Project Type (EUR Million), 2009-2013
Table 54: Portuguese Infrastructure Construction Output by Project Type (EUR Million), 2013-2018
Table 55: Portuguese Infrastructure Construction Output by Cost Type (EUR Million), 2009-2013
Table 56: Portuguese Infrastructure Construction Output by Cost Type (EUR Million), 2013-2018
Table 57: Portuguese Infrastructure Construction Output by Activity Type (EUR Million), 2009-2013
Table 58: Portuguese Infrastructure Construction Output by Activity Type (EUR Million), 2013-2018
Table 59: Portuguese Infrastructure Construction Value Add by Project Type (EUR Million), 2009-2013
Table 60: Portuguese Infrastructure Construction Value Add by Project Type (EUR Million), 2013-2018
Table 61: Portuguese Institutiol Construction Output by Project Type (EUR Million), 2009-2013
Table 62: Portuguese Institutiol Construction Output by Project Type (EUR Million), 2013-2018
Table 63: Portuguese Institutiol Construction Output by Cost Type (EUR Million), 2009-2013
Table 64: Portuguese Institutiol Construction Output by Cost Type (EUR Million), 2013-2018
Table 65: Portuguese Institutiol Construction Output by Activity Type (EUR Million), 2009-2013
Table 66: Portuguese Institutiol Construction Output by Activity Type (EUR Million), 2013-2018
Table 67: Portuguese Institutiol Construction Value Add by Project Type (EUR Million), 2009-2013
Table 68: Portuguese Institutiol Construction Value Add by Project Type (EUR Million), 2013-2018
Table 69: Portuguese Residential Construction Output by Project Type (EUR Million), 2009-2013
Table 70: Portuguese Residential Construction Output by Project Type (EUR Million), 2013-2018
Table 71: Portuguese Residential Construction Output by Cost Type (EUR Million), 2009-2013
Table 72: Portuguese Residential Construction Output by Cost Type (EUR Million), 2013-2018
Table 73: Portuguese Residential Construction Output by Activity Type (EUR Million), 2009-2013
Table 74: Portuguese Residential Construction Output by Activity Type (EUR Million), 2013-2018
Table 75: Portuguese Residential Construction Value Add by Project Type (EUR Million), 2009-2013
Table 76: Portuguese Residential Construction Value Add by Project Type (EUR Million), 2013-2018
Table 77: Timetric Construction Market Definitions