Uruguay Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Uruguay Construction Market Report Overview
The Uruguay construction market size was $6.4 billion in 2022. The market is projected to achieve an AAGR of more than 2% during 2024-2027. The industry’s output, during the forecast period, is owing to investments in the tourism industry, renewable energy, hydrogen production, and the transport and housing sectors.
Uruguay Construction Market Outlook, 2022-2027 ($ Billion)
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The Uruguay construction market report has compiled data on various project types and construction activities across sectors. While discussing the construction projects, our analysts have elucidated the factors responsible for the developments. The report further analyzes the top construction projects in Uruguay from pre-planning to execution, along with the emerging market trends. In addition, the report gives an overview of the latest developments in the Uruguay construction market.
Market Size (2022) | $6.4 billion |
AAGR (2024-2027) | >2% |
Forecast Period | 2023-2027 |
Historical Period | 2018-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
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Uruguay Construction Market Segmentation by Sectors
Residential construction was the leading sector in the Uruguay construction market in 2022
The key sectors in the Uruguay construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the residential construction sector accounted for the highest market share.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The sector’s growth over the forecast period is attributed to the private sector investment in stable housing projects to meet the demand of the rising population and urbanization.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The investment in road and water infrastructure projects is responsible for the sector’s output.
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 commitment to invest in the water infrastructure projects and the electricity sector will further propel the market’s demand during the projected period.
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 sector’s growth is attributed to investments in manufacturing and chemical production, coupled with a recovery in exports.
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 recovery of the tourism, retail, and wholesale sectors with the increase in the arrival of tourists and investments in hotel projects is driving the sector’s growth.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Public and private sector investment in healthcare, research, and education projects will drive the sector’s growth during the forecast period.
Uruguay Construction Market Analysis by Sectors, 2022 (%)
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Uruguay Construction Market – Latest Developments
- In September 2023, the government allocated UYU21.87 billion ($500 million) for the development of new reservoirs and desalination plants, to help the country’s water infrastructure that was affected by severe drought.
- In November 2023, a loan contract worth UYU1.3 billion ($30 million) was signed between the State Sanitary Works Administration (OSE) and Inter-American Development Bank (IDB), for the Drinking Water Systems Improvement Program – Phase I. The program includes the construction of new purification plants, new drilling, pipelines, and storage along with the complementary water infrastructure to reduce the arsenic levels in the drinking water.
Segments Covered in the Report
Uruguay 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 Uruguay.
- Historical and forecast valuations of the construction industry in Uruguay, 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 Uruguay construction market size in 2022?
The construction market size in Uruguay was $6.4 billion in 2022.
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What is the expected Uruguay construction market growth rate for the forecast period?
The construction market in Uruguay is projected to achieve an AAGR of more than 2% during 2024-2027.
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Which was the leading sector in the Uruguay construction market in 2022?
Residential construction was the leading sector in the Uruguay construction market in 2022.
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What are the factors driving residential construction in the Uruguay construction market?
The residential sector’s growth over the forecast period will be supported by Uruguay’s increasing population, household incomes, and urbanization.
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