Dublin, March 04, 2024 (GLOBE NEWSWIRE) -- The "Uruguay Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Uruguay was forecast to contract by 4.1% in real terms in 2023, following annual growth of 7% in 2022, owing partly due to weaker economic activity due to rising inflation, a decline in building permits issued in the residential sector and the impact of a three-year long drought in the country, which has affected the agricultural, fishing, mining, and energy sectors.
According to the Central Bank of Uruguay (BCU), the construction industry's value add declined by 8.6% year on year (YoY) in Q3 2023, preceded by a Y-o-Y decline of 6.6% in Q2 and growth of 2.5% in Q1 2023.
Over the remainder of the forecast period, the construction industry is expected to register an annual average growth rate of 2.9% in real terms from 2024 to 2027, supported by the investments in the tourism industry, renewable energy, hydrogen production, and the transport and housing sectors. In Q4 2023, the Ministry of Industry, Energy and Mining announced a plan named ''2040 green hydrogen roadmap'' to achieve its hydrogen production goals.
Based on the roadmap, the country aims to produce one million tons of green hydrogen per annum by 2040. Uruguay has a few hydrogen projects in the pipeline, including HIF Global's UYU175 billion ($4 billion) synthetic fuels project in Paysandu, which is estimated to be completed in 2027.
The report provides detailed market analysis, information and insights into Uruguay's construction industry, including:
- Uruguay'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 Uruguay'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.
This report provides a comprehensive analysis of the construction industry in Uruguay. It provides:
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Uruguay, 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
Key Report Benefits
- Identify and evaluate market opportunities using the 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 the critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
For more information about this report visit https://www.researchandmarkets.com/r/y9u5ia
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