The Peruvian construction industry registered growth of 2.4% and 4.5% in real terms in 2017 and 2018 respectively, following an average annual growth of -2.0% during 2014-2016.
The industry’s output value is expected to continue to expand over the forecast period (2019-2023), with investments in infrastructure, health, education, manufacturing and housing projects continuing to drive growth. Furthermore, rising construction permits in the country are expected to drive the industry’s forecast-period growth.
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The industry’s output value is expected to rise at a compound annual growth rate (CAGR) of 4.98% in real terms over the forecast period - up from -0.30% during the review period (2014-2018).
GlobalData’s "Construction in Peru - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into the Peruvian construction industry, including -
- The Peruvian 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 Peruvian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
- GlobalData expects the residential construction market to account for 27.6% of the industry’s total value in 2023. Forecast-period growth is expected to be supported by government efforts to balance housing demand and supply through the construction of housing units. The government plans to build 150,000 social housing units across the country by 2022.
- Forecast-period growth in the industrial construction market will be driven by the government’s focus to increase the country’s copper production. The government plans to double the copper production by 2021, from 2.4 million tonnes in 2017 to 4.8 million by 2021. Accordingly, with an aim to attract PEN21.7 billion (US$6.7 billion) of capital investment in copper mining, the government is providing favourable environments for companies.
- GlobalData expects the infrastructure construction market to grow at a forecast-period CAGR of 10.15% in nominal terms, driven by government’s plans to develop the country’s transport infrastructure. In the 2019 budget, the government allocated PEN12.0 billion (US$3.7 billion) for transport infrastructure projects, including projects to build national highways, community roads and repair damaged roads across the country.
- The energy and utilities construction market’s forecast-period growth will be driven by the government’s focus on renewable energy. The government aims to increase the share of renewable energy in the country’s total energy mix from 2.7% in 2017 to 5.0% by 2022, and 15.0% by 2030. Accordingly, in March 2018, the government announced plans to build a 500.0MW-1.0GW solar power plant in the southern regions of Tacna, Arequipa and Cuzco.
- The total construction project pipeline in Peru - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at PEN408.1 billion (US$126.1 billion). The pipeline, which includes all projects from pre-planning to execution, is relatively skewed towards early-stage projects, with 64.7% of the pipeline value being in projects in the pre-planning and planning stages as of February 2019.
This report provides a comprehensive analysis of the construction industry in Peru. It provides -
- Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Peru, 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.
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- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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