Colombia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Colombia Construction Market Report Overview
The Colombia construction market size was $55.1 billion in 2023. The market will garner an AAGR of more than 5% during 2025-2028. Investments in transport and energy projects will drive the sector’s growth during the projected period. Furthermore, the government’s intention to invest COP101.9 trillion ($24.9 billion) during the current presidential term (ending August 2026) to develop transportation infrastructure will propel the sector’s growth during the projected period.
Colombia Construction Market Outlook, 2023-2028 ($ Billion)
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The Colombia construction market research report provides detailed market analysis, information, and analysis of the Colombia construction industry comprising market growth prospects by project type and construction activity. The report also delivers critical insights into the impact of industry trends and an assessment of key risks and opportunities in the Colombia construction industry. It also analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the key sectors in the construction market and provides an overview of each sector along with their driving factors.
Market Size (2023) | $55.1 billion |
AAGR (2025-2028) | >5% |
Forecast Period | 2023-2028 |
Historical Period | 2018-2023 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Key Contractors | · China Communications Construction Co Ltd
· SP Ingenieros SAS · Mota-Engil SGPS SA · MIncivil SA · Construcciones El Condor SA |
Key Consultants | · Ingetec Gerencia y Supervision
· IDOM Consulting, Engineering, Architecture SAU · Worley Ltd · SENER Grupo de Ingenieria SA · SYSTRA SA |
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Colombia Construction Market Segmentation by Sectors
Infrastructure construction was the leading sector in the Colombia construction market in 2023
The key sectors in the Colombia construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2023, the infrastructure sector accounted for the highest market share.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The government’s efforts to increase the country’s renewable energy sources, as well as to expand and upgrade the telecommunications networks will propel the sector’s growth during the forecast period.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry’s recovery over the later part of the forecast period can be attributed to private investments in the housing sector coupled with government programs and initiatives to promote the development and financing of housing construction.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government plans to continue its spending on infrastructure projects, focusing on improving regional connectivity through the development of transport infrastructure will influence the sector’s growth.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The commercial sector’s growth over the forecast period can be attributed to private investment in data centers, retail stores development, and warehouse construction.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Government and private investments in the healthcare, education, and research infrastructure will support forecast-period growth in the institutional construction sector.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. The gradual recovery in industrial and manufacturing activities coupled with an improvement in the wider economy will support the sector’s growth.
Colombia Construction Market Analysis by Sectors, 2023 (%)
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Colombia Construction Market - Competitive Landscape
China Communications Construction Co Ltd emerged as the leading contractor and Ingetec Gerencia y Supervision as the leading consultant in the Colombia construction market in 2023
The leading contractors in the Colombia construction market are:
- China Communications Construction Co Ltd
- SP Ingenieros SAS
- Mota-Engil SGPS SA
- MIncivil SA
- Construcciones El Condor SA
Domestic contractors account for most of the project pipeline in the Colombia construction market. Firms based in China are the dominant foreign contractors.
Colombia Construction Market Analysis by Contractors, 2023 (%)
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The leading consultants in the Colombia construction market are:
- Ingetec Gerencia y Supervision
- IDOM Consulting, Engineering, Architecture SAU
- Worley Ltd
- SENER Grupo de Ingenieria SA
- SYSTRA SA
Consultants with headquarters outside Colombia are involved in most of the project pipeline by value. Among foreign-based consultants, firms based in the US are involved in 27% of projects in the pipeline in which a foreign consultant is operating.
Colombia Construction Market Analysis by Consultants, 2023 (%)
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Colombia Construction Market – Latest Developments
- In November 2023, the Empresas Públicas de Medellín (EPM), approved a budget of COP28.8 trillion ($7 billion) for 2024 to develop road infrastructure, transmission, electricity distribution, gas, water supply, and wastewater facilities. This budget was up by 19% compared to COP24.2trillion ($5.9 billion) in 2023.
- In October 2023, state owned infrastructure company Empresas Publicas de Medellin awarded a contract of COP1 trillion ($254 million) to Chinese energy company Yellow River Co, Colombian mining company LTD Sucursal and Colombian engineering and construction company Schrader Camargo S.A.S for the construction of the 2,400MW Hidroituango dam. Additionally, government’s plans to offer affordable residential houses by 2030 through Vision 2030 will also support growth in the forecast period.
Segments Covered in the Report
Colombia Construction Sectors Outlook (Value, $ Billion, 2018-2027)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides:
- A comprehensive analysis of the construction industry in Colombia.
- Historical and forecast valuations of the construction industry in Colombia, featuring details of key growth drivers.
- Segmentation by sector 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 GlobalData’s 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 GlobalData’s critical and actionable insight.
- Assess business risks, including cost, regulatory, and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
Table
Figures
Frequently asked questions
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What was the Colombia construction market size in 2023?
The construction market size in Colombia was $55.1 billion in 2023.
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What is the expected Colombia construction market growth rate for the forecast period?
The construction market in Colombia is projected to achieve an AAGR of more than 5% during 2025-2028.
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Which was the leading sector in the Colombia construction market in 2023?
Infrastructure construction was the leading sector in the Colombia construction market in 2023.
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Which are the leading contractors in the Colombia construction market?
The leading contractors in the Colombia construction market are China Communications Construction Co Ltd, SP Ingenieros SAS, Mota-Engil SGPS SA, MIncivil SA, and Construcciones El Condor SA among others.
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Which are the leading consultants in the Colombia construction market?
The leading consultants in the Colombia construction market are Ingetec Gerencia y Supervision, IDOM Consulting, Engineering, Architecture SAU, Worley Ltd, SENER Grupo de Ingenieria SA, and SYSTRA SA among others.
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