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Portugal Construction Industry Report 2022: Industry is Expected to Grow by 1.2% in 2022 Before Posting an Annual Average Growth Rate of 1.7% Between 2023-2026 - ResearchAndMarkets.com

·3 min read

DUBLIN, May 20, 2022--(BUSINESS WIRE)--The "Portugal Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026" report has been added to ResearchAndMarkets.com's offering.

Portugal's construction industry is expected to grow by 1.2% in 2022, down from previously estimated 3.1%

The publisher revised down the growth rate followed by increasing Coronavirus (COVID-19) infections coupled with ongoing severe drought which is posing a downside risk for industrial and energy construction sectors for short to medium terms. However, growth in 2022 will be driven by the government's efforts to develop transport infrastructure along with rising public and private sector investments in both building and civil engineering works.

The rise in building permits in 2021 is also expected to boost construction activities in coming quarters. According to the Instituto Nacional de Estatistica (INE), the total number of building permits issued in the country grew by 10.4% year on year (YoY) in the first eleven months of 2021. In terms of segmentation, the total number of building permits approved for residential and non-residential rose by 12.6% and 2.9%, respectively, during the same period.

Furthermore, growth will also depend on the efficient execution of projects under the recovery program, and the implementation of associated reforms are key to sustain growth. The newly elected government is set to implement a budget for 2022, including a significant amount of EU funding. This will spur activity to develop green energy infrastructure in Portugal. The government is set to receive EUR13.9 billion ($161.3 billion) in grants and EUR2.7 billion ($3.1 billion) in loans in total under the EU Recovery and Resilience Facility (RRF).

Over the remainder of the forecast period, the industry is projected to post an annual average growth of 1.7% between 2023-2026, supported by the 2030 National Investment Program (PNI), along with government's efforts to upgrade the country's rail, road, and other public transport infrastructure.

In October 2020, the government approved the 2030 PNI, under which it intends to spend EUR43 billion ($48.1 billion) on transport and energy infrastructure by 2030. The government plans to spend EUR21.7 billion ($23.9 billion) on transport projects and EUR13 billion ($14.3 billion) to develop the country's energy infrastructure, which is largely focused on hydrogen production.

Scope

  • Historical (2017-2021) and forecast (2022-2026) 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

Key Topics Covered:

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

For more information about this report visit https://www.researchandmarkets.com/r/cd0062

View source version on businesswire.com: https://www.businesswire.com/news/home/20220520005151/en/

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