Spain Construction Market Size (2024 - 2029)

Spain Construction Market Analysis

The Spain Construction Market size is estimated at USD 192.55 billion in 2024, and is expected to reach USD 223.22 billion by 2029, at a CAGR of 3% during the forecast period (2024-2029).

• In 2024, Spain's construction industry is set to experience steady growth, driven by strategic investments in vital sectors such as energy, transportation, housing, and industrial infrastructure. The sector is benefiting from significant public funding, with a notable emphasis on contributions from the EU’s NextGenerationEU (NGEU) Recovery Fund. This funding is being directed towards major infrastructure projects, especially in renewable energy and crucial upgrades to Spain’s national transportation network. These investments are expected to not only propel the sector's growth but also significantly contribute to Spain’s broader economic recovery and long-term sustainability goals.
• Recent reports highlight that an influx of capital, combined with strong demand for infrastructure development, is likely to fuel continued growth in the industry. Driven primarily by initiatives in renewable energy, housing projects, and transportation infrastructure, the sector is on track for expansion, albeit at a more tempered rate in the immediate future.
• For instance, VENERGY+ is building a lithium battery manufacturing plant in Navalmoral de la Mata, Cáceres, Extremadura. Construction kicked off in Q3 2024, with an anticipated completion in Q4 2028. The facility aims to produce zero-emission batteries tailored for electric vehicles. Notably, the factory will operate entirely on renewable energy, as highlighted by World Construction Network in October 2024.
• Despite facing several macroeconomic challenges, Spain's construction industry stands poised to capitalize on sustained public and foreign investments. With infrastructure projects advancing, the sector is set for steady growth in the coming years, fueled by investments in both sustainable and traditional infrastructure.

Spain Construction Industry Segmentation

Construction is the process of planning, designing, and constructing infrastructure and buildings in Spain. It involves using a range of materials, methods, and technologies to create various structures, including roads, bridges, tunnels, dams, airports, and buildings.

The Spanish construction market is segmented by sector (residential, commercial, industrial, infrastructure (transportation), and energy and utilities). The report also analyses the Spanish construction market's key players and competitive landscape. The impact of COVID-19 has also been incorporated and considered during the study. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.