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Construction in Chile - Key Trends and Opportunities to 2022

  • Published Date: 10 Dec 2018
  • Number of Pages: 48
  • Category: Construction
  • Country: Chile

Construction in Chile - Key Trends and Opportunities to 2022

Summary

The Chilean construction industry suffered a downturn in 2017, contracting by 2.4% in real terms that year, after registering annual growth of 2.8% in 2016 and 4.1% in 2015. The decline in the industry’s output value in 2017, compared to that of 2016 was due to low public and private sector investments in construction and a downturn in mining due to operational disruptions.

The industry is expected to recover in 2018, supported by a gradual recovery in regional economic conditions, copper production and improving consumer and investor confidence. This growth is expected to continue throughout the forecast period (2018-2022), supported by the government’s ongoing efforts to develop the infrastructure, industrial and healthcare sectors. Under the Tiempos Mejores para Chile program, the government plans to invest CLP9.1 trillion (US$14.0 billion) to develop the country’s overall infrastructure, in a bid to support economic activity by 2022. Moreover, an increase in the number of building construction permits issued is expected to support new construction activity over the forecast period.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 3.26% over the forecast period, compared to 0.66% during the review period (2013-2017).

GlobalData’s "Construction in Chile - Key Trends and Opportunities to 2022", report provides detailed market analysis, information and insights into the Chilean construction industry, including -
- The Chilean construction industrys 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 Chilean construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Key Highlights


- GlobalData expects the Infrastructure construction market to register a forecast-period CAGR of 5.87% in nominal terms, driven by the government’s effort to upgrade the country’s rail, road, airport and port infrastructure. In order to address the country’s infrastructure deficit, the government plans to invest CLP20.7 trillion (US$30.0 billion) during 2018-2026 under the Invierte Chile (Invest Chile) program.
- Forecast period growth in the residential construction market will be driven by the public and private sector investments in the construction of new residential buildings to meet the housing demand. In October 2018, the government announced an investment plan for the development of Tarapacá region. Under the plan, the government seeks to construct 7,610 new housing units and provide subsidies to improve 10,000 existing houses in the region.
- GlobalData expects the energy and utilities construction market to record a forecast-period CAGR of 6.45% in nominal terms driven by the governments focus on developing renewable energy in the country. The government aims to generate 60% of the country’s total electricity requirement through renewable sources by 2035, and 70% by 2050. Consequently, the energy sector will attract public and private sector investments to meet this target.
- Forecast period growth in the industrial construction market will be driven by improvement in investments in industrial and manufacturing activities, as well as improvements in domestic economic conditions and copper production. Moreover, an increase in the total value of the country’s exports is expected to support construction activity in the market over the forecast period.
- The total construction project pipeline in Chile - as tracked by GlobalData and including all mega projects with a value above US$25 million - stands at CLP106.0 trillion (US$163.4 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards early-stage projects, with 59.9% of the pipeline value being in projects in the pre-planning and planning stages as of November 2018.

Scope

- This report provides a comprehensive analysis of the construction industry in Chile.
- Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Chile, 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.

Reasons to buy

- Identify and evaluate market opportunities using GlobalDatas 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 strategy using GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

Publisher Name : GlobalData


1. EXECUTIVE SUMMARY 2
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE 3
3. LATEST NEWS AND INDICATORS 9
4. KEY DRIVERS AND RISKS 11
4.1. Economic Performance 11
4.2. Political Environment 11
4.3. Demographics 11
4.4. Risk Profile 12
5. CONSTRUCTION OUTLOOK 13
5.1. All Construction 13
5.1.1. Outlook 13
5.1.2. Project analytics 15
5.2. Commercial Construction 18
5.2.1. Outlook 18
5.2.2. Project analytics 19
5.3. Industrial Construction 21
5.3.1. Outlook 21
5.3.2. Project analytics 23
5.4. Infrastructure Construction 25
5.4.1. Outlook 25
5.4.2. Project analytics 26
5.5. Energy and Utilities Construction 28
5.5.1. Outlook 28
5.5.2. Project analytics 30
5.6. Institutional Construction 32
5.6.1. Outlook 32
5.6.2. Project analytics 33
5.7. Residential Construction 35
5.7.1. Outlook 35
5.7.2. Project analytics 36
6. KEY INDUSTRY PARTICIPANTS 38
6.1. Contractors 38
6.2. Consultants 40
7. APPENDIX 42
7.1. What is this Report About? 42
7.2. Definitions 42
8. ABOUT GLOBALDATA 46
8.1. GlobalData at a Glance 46
8.2. GlobalData Construction 47
8.3. Disclaimer 48
8.4. Contact Us 48



List Of Tables


Table 1: Construction Outlook 3
Table 2: Chile, Key Economic Indicators 11
Table 3: Chile, Construction Output Value (nominal, CLP Billion) 16
Table 4: Chile, Construction Output Value (nominal, US$ Million) 17
Table 5: Chile, Top Commercial Construction Projects by Value 20
Table 6: Chile, Top Industrial Construction Projects by Value 24
Table 7: Chile, Top Infrastructure Construction Projects by Value 27
Table 8: Chile, Top Energy and Utilities Construction Projects by Value 31
Table 9: Chile, Top Institutional Construction Projects by Value 34
Table 10: Chile, Top Residential and Mixed-Use Construction Projects by Value 37
Table 11: Chile, Key Contractors 38
Table 12: Chile, Key Consultants 40
Table 13: GlobalData Construction Market Definitions 43
Table 14: Construction Risk Index Ratings and Scores 45



List Of Figures


Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix 3
Figure 2: Chile, Construction Projects Pipeline by Sector (CLP Billion) 3
Figure 3: Chile, Building Permits Approved (Total Area) 9
Figure 4: Chile, Housing Prices Index 10
Figure 5: Chile, Risk Profile, Q3 2018 12
Figure 6: Chile, Risk Comparison, Q3 2018 12
Figure 7: Chile, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate) 13
Figure 8: Chile, Construction Output Value, Growth Matrix 14
Figure 9: Chile, Construction Output Value, by Sector (CLP Billion), 2013-2022 14
Figure 10: Chile, Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion), 2017-2022 15
Figure 11: Chile, Construction Projects Pipeline, Value by Stage (CLP Billion) 15
Figure 12: Chile, Commercial Construction Output by Project Type (CLP Billion), 2013-2022 18
Figure 13: Chile, Commercial Construction Projects Pipeline, Value by Stage (CLP Billion) 19
Figure 14: Chile, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion) 20
Figure 15: Chile, Industrial Construction Output by Project Type (CLP Billion), 2013-2022 22
Figure 16: Chile, Industrial Construction Projects Pipeline, Value by Stage (CLP Billion) 23
Figure 17: Chile, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion) 24
Figure 18: Chile, Infrastructure Construction Output by Project Type (CLP Billion), 2013-2022 25
Figure 19: Chile, Infrastructure Construction Projects Pipeline, Value by Stage (CLP Billion) 26
Figure 20: Chile, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion) 27
Figure 21: Chile, Energy and Utilities Construction Output by Project Type (CLP Billion), 2013-2022 29
Figure 22: Chile, Energy and Utilities Construction Projects Pipeline, Value by Stage (CLP Billion) 30
Figure 23: Chile, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion) 31
Figure 24: Chile, Institutional Construction Output by Project Type (CLP Billion), 2013-2022 32
Figure 25: Chile, Institutional Construction Projects Pipeline, Value by Stage (CLP Billion) 33
Figure 26: Chile, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion) 33
Figure 27: Chile, Residential Construction Output by Project Type (CLP Billion), 2013-2022 35
Figure 28: Chile, Residential Construction Projects Pipeline, Value by Stage (CLP Billion) 36
Figure 29: Chile, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (CLP Billion) 37
Figure 30: Chile, Headquarters of Key Contractors (% of Total Project Pipeline) 39
Figure 31: Chile, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor) 39
Figure 32: Chile, Headquarters of Key Consultants (% of Total Project Pipeline) 41
Figure 33: Chile, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants) 41



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