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Portugal Construction Market Size
- Report ID: GMI6268
- Published Date: Jul 2023
- Report Format: PDF
Portugal Construction Market Size
Portugal Construction Market size was valued at USD 11.6 billion in 2022 and is projected to grow at a CAGR of 2.5% between 2023 and 2032. The country's growing urbanization and population create a strong demand for residential, commercial, and infrastructure construction projects. Urbanization leads to the concentration of population in urban areas, driving the need for new housing developments. As more people migrate to cities, the demand for residential buildings, such as apartments and houses, rises. This presents opportunities for construction companies to meet the housing needs of the growing urban population.
The government focus on infrastructure development and investments in the construction sector is significantly driving Portugal construction market growth. The government recognizes the importance of enhancing the country's infrastructure to drive economic growth, attract investments, and improve the quality of life for citizens. Through strategic planning and increased budget allocations, the government aims to modernize and expand Portugal's infrastructure networks including transportation, energy, telecommunications, and water management systems. This commitment to infrastructure development creates a favorable environment for construction companies as it leads to a surge in construction projects.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Portugal Construction Market Size in 2022: | USD 11.6 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 2.5% |
| 2032 Value Projection: | USD 15.9 Billion |
| Historical Data for: | 2005 to 2022 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 97 |
| Segments covered: | Type, End-Use, Contracting Type, Scale |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The emerging safety and labor issues pose significant challenges to the market. Ensuring the safety and well-being of workers is a top priority, and construction companies must comply with the strict health & safety regulations to minimize accidents and injuries. Labor issues, such as shortages of skilled workers, changing labor laws, and demands for fair wages as well as working conditions, can impact project timelines and costs. The construction industry must invest in training programs, adopt advanced safety measures, and implement fair labor practices to attract & retain skilled workers.
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Portugal Construction Market Scope
