Construction in Spain - Key Trends and Opportunities to 2018

Published: Mar, 2014 | Pages: 82 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)


Synopsis
This report provides detailed market analysis, information and insights into the 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 within 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
Analyzing the profiles of the leading operators in the Spanish construction industry
Data highlights of the largest construction projects in Spain  

Summary
The Spanish construction industry recorded a compound annual growth rate (CAGR) of -14.48% during the review period (2008-2013). The country entered into recession in 2009, which hampered the level of construction activity during the review period. After a subsequent decline, the Spanish economy finally grew by 0.3% in the fourth quarter of 2013. The outlook of the construction industry is expected to be positive over the forecast period, with growth supported by the expansion of road and rail infrastructure, government schemes such as the Golden Visa to support the residential market, increased investor sentiment across Europe, and improved export demand. Timetric expects the Spanish construction industry to record a CAGR of 2.54% over the forecast-period (2013-2018). 
Scope
This report provides a comprehensive analysis of the construction industry in Spain. It provides:
Historical (2009-2013) and forecast (2014-2018) valuations of the construction industry in Spain 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
Assessment of the competitive environment using Porter's Five Forces analysis
Detailed profiles of the leading construction companies in Spain  
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
 According to the National Statistics Institute (Spanish: Instituto Nacional de Estadistica, INE), the construction of new buildings declined from 91,743 units in 2009 to 56,776 units in 2012. Although the economy came out of recession in the third quarter of 2013, the forecast-period outlook for construction in Spain remains moderate due to excess stock of unoccupied houses, low wages and high unemployment.
In December 2013, the European Investment Bank (EIB) granted a loan of EUR465.0 million (US$597.9 million) to the Public Work Ministry to improve the nation's road networks. This loan will sponsor several road infrastructure works such as construction of bypasses, access road, upgrading and widening of national road.
In 2008, Spain entered into recession due to the burst of the property bubble and the increase in unemployment in the country. The Spanish unemployment rate reached 26.3% in the third quarter of 2013. However, in December 2013, the number of people unemployed fell by 107,570 according to figures released by the Labor Ministry. However, although unemployment is declining, disposable incomes remain low, negatively affecting demand for housing.
According to the European Automobile Manufacturer's Association (ACEA), new car registrations grew from 699,589 units in 2012 to 722,703 units in 2013, an increase of 3.3%. With positive developments in the automobile industry, major manufacturers such as Volkswagen and Renault are planning to increase their production capacities. Daimler plans to invest EUR190.0 million (US$260.0 million) to upgrade its van plant in Spain. Increased car sales and rising investment will boost demand for manufacturing plant construction over the forecast period.
Chemicals and pharmaceuticals is one of the main industries in Spain. According to Business Federation of the Spanish Chemistry Industry (Feique), the chemical industry will grow by 3.5% in 2014. The growth of the chemicals and pharmaceuticals category will be fueled by the strong pipeline of projects such as upgrade of chemical complex in Tarragona plant by Repsol at an expected investment of EUR70.0 million (US$94.6 million) between 2014 and 2016.

 1 Executive Summary
2 Market Overview
2.1 Key Trends and Issues
2.2 Benchmarking by Market Size and Growth
2.3 Price Dymics
2.3.1 Salaries
2.3.2 Equipment
2.3.3 Materials
2.3.4 Energy
2.4 Porter's Five Forces Alysis
2.4.1 Bargaining power of suppliers - medium
2.4.2 Bargaining power of buyers - low
2.4.3 Barriers to entry - medium
2.4.4 Intensity of rivalry - high
2.4.5 Threat of substitution - low
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: Actividades de Construccion y Servicios SA
8.1 Actividades de Construccion y Servicios SA - Company Overview
8.2 Actividades de Construccion y Servicios SA - Business Description
8.3 Actividades de Construccion y Servicios SA - Main Services
8.4 Actividades de Construccion y Servicios SA - History
8.5 Actividades de Construccion y Servicios SA - Company Information
8.5.1 Actividades de Construccion y Servicios SA - key competitors
8.5.2 Actividades de Construccion y Servicios SA - key employees
9 Company Profile: Fomento de Construcciones y Contratas SA
9.1 Fomento de Construcciones y Contratas SA - Company Overview
9.2 Fomento de Construcciones y Contratas SA - Business Description
9.3 Fomento de Construcciones y Contratas SA - Main Product and Services
9.4 Fomento de Construcciones y Contratas SA - History
9.5 Fomento de Construcciones y Contratas SA - Company Information
9.5.1 Fomento de Construcciones y Contratas SA - key competitors
9.5.2 Fomento de Construcciones y Contratas SA - key employees
10 Company Profile: Obrascon Huarte Lain, SA
10.1 Obrascon Huarte Lain, SA - Company Overview
10.2 Obrascon Huarte Lain, SA - Business Description
10.3 Obrascon Huarte Lain, SA - Main Services
10.4 Obrascon Huarte Lain, SA - History
10.5 Obrascon Huarte Lain, SA - Company Information
10.5.1 Obrascon Huarte Lain, SA - key competitors
10.5.2 Obrascon Huarte Lain, SA - key employees
11 Company Profile: Accio SA
11.1 Accio SA - Company Overview
11.2 Accio SA - Business Description
11.3 Accio SA - Main Product and Services
11.4 Accio SA - History
11.5 Accio SA - Company Information
11.5.1 Accio SA - key competitors
11.5.2 Accio SA - key employees
12 Company Profile: Ferrovial SA
12.1 Ferrovial SA - Company Overview
12.2 Ferrovial SA - Business Description
12.3 Ferrovial SA - Main Services
12.4 Ferrovial SA - History
12.5 Ferrovial SA - Company Information
12.5.1 Ferrovial SA - key competitors
12.5.2 Ferrovial SA - 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 - IE/OHL - Madrid Four Seasons Hotel - Spain
Table 3: Commercial Construction Project 2 - RMFC - Santiago Berbeu Hotel - Madrid
Table 4: Commercial Construction Project 3 - Unibail - Rodamco - Oceanic Commercial Complex - Valencia
Table 5: Industrial Construction Project 1 - CACL - Chery Automobile Assembly Plant - Catalonia
Table 6: Industrial Construction Project 2 - HKS/Isofoton - Los Barrios Polysilicon Manufacturing Plant - Cadiz
Table 7: Industrial Construction Project 3 - Repsol - Tarrago Chemical Plant Upgradation - Tarrago
Table 8: Infrastructure Construction Project 1 - ADIF - Avila-Segovia High Speed Rail Line - Castilla y Leon
Table 9: Infrastructure Construction Project 2 - Fomento - A66 Highway Development - Zamora
Table 10: Infrastructure Construction Project 3 - MetroMadrid - Local Train Infrastructure Plan - Madrid
Table 11: Institutiol Construction Project 1 - CLDH - Palencia New Hospital Development - Castilla y Leon
Table 12: Institutiol Construction Project 2 - AWC - Las Palmas Hospital Development - Gran Caria
Table 13: Institutiol Construction Project 3 - GDoH - Ourense Hospital University Complex Development - Galicia
Table 14: Residential Construction Project 1 - GOM/PCET - Barain Residential Units Development - varra
Table 15: Residential Construction Project 2 - MoH - Residential Housing Development - Basque
Table 16: Residential Construction Project 3 - MCUD - Zorrozaurre Urban Development - Bilbao
Table 17: Actividades de Construccion y Servicios SA , Key Facts
Table 18: Actividades de Construccion y Servicios SA , Main Services
Table 19: Actividades de Construccion y Servicios SA, History
Table 20: Actividades de Construccion y Servicios SA , Key Employees
Table 21: Fomento de Construcciones y Contratas SA, Key Facts
Table 22: Fomento de Construcciones y Contratas SA, Main Product and Services
Table 23: Fomento de Construcciones y Contratas SA, History
Table 24: Fomento de Construcciones y Contratas SA, Key Employees
Table 25: Obrascon Huarte Lain, SA, Key Facts
Table 26: Obrascon Huarte Lain, SA, Main Services
Table 27: Obrascon Huarte Lain, SA, History
Table 28: Obrascon Huarte Lain, SA, Key Employees
Table 29: Accio SA, Key Facts
Table 30: Accio SA, Main Product and Services
Table 31: Accio SA - History
Table 32: Accio SA, Key Employees
Table 33: Ferrovial SA, Key Facts
Table 34: Ferrovial SA, Main Services
Table 35: Ferrovial SA, History
Table 36: Ferrovial SA, Key Employees
Table 37: Spanish Construction Output by Project Type (EUR Million), 2009-2013
Table 38: Spanish Construction Output by Project Type (EUR Million), 2013-2018
Table 39: Spanish Construction Output by Cost Type (EUR Million), 2009-2013
Table 40: Spanish Construction Output by Cost Type (EUR Million), 2013-2018
Table 41: Spanish Construction Output by Activity Type (EUR Million), 2009-2013
Table 42: Spanish Construction Output by Activity Type (EUR Million), 2013-2018
Table 43: Spanish Construction Value Add by Project Type (EUR Million), 2009-2013
Table 44: Spanish Construction Value Add by Project Type (EUR Million), 2013-2018
Table 45: Spanish Commercial Construction Output by Project Type (EUR Million), 2009-2013
Table 46: Spanish Commercial Construction Output by Project Type (EUR Million), 2013-2018
Table 47: Spanish Commercial Construction Output by Cost Type (EUR Million), 2009-2013
Table 48: Spanish Commercial Construction Output by Cost Type (EUR Million), 2013-2018
Table 49: Spanish Commercial Construction Output by Activity Type (EUR Million), 2009-2013
Table 50: Spanish Commercial Construction Output by Activity Type (EUR Million), 2013-2018
Table 51: Spanish Commercial Construction Value Add by Project Type (EUR Million), 2009-2013
Table 52: Spanish Commercial Construction Value Add by Project Type (EUR Million), 2013-2018
Table 53: Spanish Industrial Construction Output by Project Type (EUR Million), 2009-2013
Table 54: Spanish Industrial Construction Output by Project Type (EUR Million), 2013-2018
Table 55: Spanish Industrial Construction Output by Cost Type (EUR Million), 2009-2013
Table 56: Spanish Industrial Construction Output by Cost Type (EUR Million), 2013-2018
Table 57: Spanish Industrial Construction Output by Activity Type (EUR Million), 2009-2013
Table 58: Spanish Industrial Construction Output by Activity Type (EUR Million), 2013-2018
Table 59: Spanish Industrial Construction Value Add by Project Type (EUR Million), 2009-2013
Table 60: Spanish Industrial Construction Value Add by Project Type (EUR Million), 2013-2018
Table 61: Spanish Infrastructure Construction Output by Project Type (EUR Million), 2009-2013
Table 62: Spanish Infrastructure Construction Output by Project Type (EUR Million), 2013-2018
Table 63: Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2009-2013
Table 64: Spanish Infrastructure Construction Output by Cost Type (EUR Million), 2013-2018
Table 65: Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2009-2013
Table 66: Spanish Infrastructure Construction Output by Activity Type (EUR Million), 2013-2018
Table 67: Spanish Infrastructure Construction Value Add by Project Type (EUR Million), 2009-2013
Table 68: Spanish Infrastructure Construction Value Add by Project Type (EUR Million), 2013-2018
Table 69: Spanish Institutiol Construction Output by Project Type (EUR Million), 2009-2013
Table 70: Spanish Institutiol Construction Output by Project Type (EUR Million), 2013-2018
Table 71: Spanish Institutiol Construction Output by Cost Type (EUR Million), 2009-2013
Table 72: Spanish Institutiol Construction Output by Cost Type (EUR Million), 2013-2018
Table 73: Spanish Institutiol Construction Output by Activity Type (EUR Million), 2009-2013
Table 74: Spanish Institutiol Construction Output by Activity Type (EUR Million), 2013-2018
Table 75: Spanish Institutiol Construction Value Add by Project Type (EUR Million), 2009-2013
Table 76: Spanish Institutiol Construction Value Add by Project Type (EUR Million), 2013-2018
Table 77: Spanish Residential Construction Output by Project Type (EUR Million), 2009-2013
Table 78: Spanish Residential Construction Output by Project Type (EUR Million), 2013-2018
Table 79: Spanish Residential Construction Output by Cost Type (EUR Million), 2009-2013
Table 80: Spanish Residential Construction Output by Cost Type (EUR Million), 2013-2018
Table 81: Spanish Residential Construction Output by Activity Type (EUR Million), 2009-2013
Table 82: Spanish Residential Construction Output by Activity Type (EUR Million), 2013-2018
Table 83: Spanish Residential Construction Value Add by Project Type (EUR Million), 2009-2013
Table 84: Spanish Residential Construction Value Add by Project Type (EUR Million), 2013-2018
Table 85: Timetric Construction Market Definitions