Summary
GlobalData now expects Colombia’s construction industry to shrink by 14.2% in 2020, which is down from the previous projection of -5.5%. Prior to the Coronavirus (COVID-19) outbreak, the industry was expected to grow by 2.6%, but the pandemic and measures imposed by the government to slow the spread of the virus led to a steep decline in construction activity in the second quarter of the year, as all buildings and infrastructure works were forced to temporarily close.
While activities have been allowed to gradually resume since April 27th, many construction projects have been slowly reactivated, while some remained paralyzed as the number of (COVID-19) cases continued to climb rapidly across the country. Figures from the National Administrative Department of Statistics (DANE) showed that construction output plunged by 31.7% in Q2 2020, compared to -9.1% in Q2 2020, bringing the industry to drop by a cumulative rate of 20.5% in the first half of the year. This was the second consecutive quarter that the sector has posted a decline, and the sharpest contraction in the history of the series.
The government’s focus on infrastructure and the continuity of programs which promote the development and financing of housing, such as VIS (Viviendas de Interest Social), should nonetheless make an important contribution to the construction industry into 2021 and beyond. GlobalData expects the industry to rebound to 4.8% in 2021, and 3.3% over the remainder of the forecast period, but this will largely depend on the duration of the pandemic and the speed of the country’s economic recovery. Other major downside risks to the industry’s outlook include tighter fiscal conditions, lower oil prices, excessive bureaucracy, social tensions, political uncertainty, and weaker global growth.
Colombia entered a ‘selective’ quarantine phase at the end of August, after more than five months of lockdown restrictions, which battered the country’s economy, and caused a surge in urban unemployment amid the shutdowns of thousands of businesses. However, the number of COVID-19 cases has continued to rise, surpassing 950,000 on October 17th, while the number of fatalities jumped above 28,800. Colombia has now the third highest number of COVID-19 cases in Latin America after Brazil and Argentina, and the fourth highest number of fatalities after Brazil, Mexico, and Peru.
This report provides detailed market analysis, information, and insights into Colombia’s construction industry, including -
- Colombia’s 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 Colombia’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Colombia. It provides -
- Historical (2015-2019) and forecast (2020-2024) valuations of the construction industry in Colombia, 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 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.
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Table of Contents
1 Executive Summary
2 Construction Industry: At-a-glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 GlobalData Construction
List of Tables
Table 1: Construction Industry Key Data
Table 2: Colombia, Key Economic Indicators
Table 3: Colombia, Commercial Construction Output by Project Type (Real % Change), 2015-2024
Table 4: Colombia, Top Commercial Construction Projects by Value
Table 5: Colombia, Industrial Construction Output by Project Type (Real % Change), 2015-2024
Table 6: Colombia, Top Industrial Construction Projects by Value
Table 7: Colombia, Infrastructure Construction Output by Project Type (Real % Change), 2015-2024
Table 8: Colombia, Top Infrastructure Construction Projects by Value
Table 9: Colombia, Energy and Utilities Construction Output by Project Type (Real % Change), 2015-2024
Table 10: Colombia, Top Energy and Utilities Construction Projects by Value
Table 11: Colombia, Institutional Construction Output by Project Type (Real % Change), 2015-2024
Table 12: Colombia, Top Institutional Construction Projects by Value
Table 13: Colombia, Residential Construction Output by Project Type (Real % Change), 2015-2024
Table 14: Colombia, Top Residential Construction Projects by Value
Table 15: Colombia, Key Contractors
Table 16: Colombia, Key Consultants
Table 17: Colombia, Construction Output Value (Real, US$ Million)
Table 18: Colombia, Construction Output Value (Nominal, COP Billion)
Table 19: GlobalData Construction Market DefinitionsList of Figures
Figure 1: South and Central America, Construction Output (Real % Change), 2020
Figure 2: Colombia, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Colombia, COVID-19 Confirmed Cases
Figure 4: Colombia, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2015-2024
Figure 5: Colombia, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 6: Colombia, Construction Value-Add (COP Billion, 2015 Chained Prices)
Figure 7: Colombia, Total Area Approved for Construction (Thousand m2, % Change YoY)
Figure 8: Colombia, Indicator of Investment in Civil Works (IIOC)
Figure 9: Colombia, Gross Capital Formation (COP Billion, 2015 Chained Prices), Seasonal and Calendar Adjusted
Figure 10: Colombia, Construction Projects Momentum Index
Figure 11: Colombia, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 12: Colombia, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 13: Colombia, Non-Resident Visitor Arrivals
Figure 14: Colombia, Wholesale and Retail Trade Value-Add (COP Billion, 2015 Chained Prices)
Figure 15: Colombia, Accommodation and Food services Value-Add (COP Billion, 2015 Chained Prices)
Figure 16: Colombia, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 17: Colombia, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 18: Colombia, Manufacturing Value-Add (COP Billion, 2015 Chained Prices)
Figure 19: Colombia, Manufacturing Production Index, (2018=100, % Change YoY)
Figure 20: Colombia, Total Exports (in US$ Million)
Figure 21: Colombia, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 22: Colombia, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 23: Colombia, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 24: Colombia, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Colombia, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 26: Colombia, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Colombia, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 28: Colombia, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: Colombia, Total Number of Social Housing Units Approved
Figure 30: Colombia, Housing Price Index (2014=100, % Change YoY)
Figure 31: Colombia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 32: Colombia, Headquarters of Key Consultants (% of Total Project Pipeline)
