Uruguay Construction Industry Report 2024: Market to Expand by 2.1% in 2024 Following a Decline of 5.6% in 2023 - Forecasts to 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Uruguay Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H1 2024)" report has been added to ResearchAndMarkets.com's offering.

Following a decline of 5.6% in real terms in 2023, the analyst expects Uruguay's construction industry to expand by 2.1% in 2024, supported by investment in water and transportation infrastructure projects, coupled with increased tourism industry activity.

According to Uruguay XXI - the agency responsible for the promotion of exports and investments domestically - 185 housing projects received approval in 2023, encompassing the development of approximately 4,700 housing units, in line with Law No. 18,795; a law that aims to enhance access to social housing for low-income families. Meanwhile, tourism revenue grew by 27.1% YoY in 2023, reaching UYU68.5 billion ($1.7 billion), with 3.8 million tourists arriving in 2023.

Over the remainder of the forecast period, the construction industry is expected to register an annual average growth rate of 3.7%, in real terms, between 2025 and 2028, supported by investments in tourism and hydrogen industries, coupled with public investment in transport and water infrastructure projects. In February 2024, CAF-AM - Uruguay-based asset management company - approved a debt fund worth UYU12.1 billion ($300 million), to fund the Arazati project among other associated water infrastructure developments domestically.

Furthermore, the Ministry of Transport and Public Works is investing UYU10.5 billion ($260 million) towards the improvement of national transportation infrastructure. Moreover, another UYU20.2 billion ($500 million) is being invested by government to develop a sanitation projects, including the construction of 54 new water treatment plants, and improvements on 40 existing water treatment plans by close of 2028.

Growth will also be supported by Uruguay's ''2040 green hydrogen roadmap '', announced in November of 2023, to reach a green hydrogen and derivatives industry turnover of UYU76.6 billion (1.9 billion) by 2040. Furthermore, the government signed an agreement with HIF - US-based electrofuel company - in February of 2024, which is worth UYU241.8 billion ($6 billion), plans to generate 3,000 jobs, and involves the construction of a green hydrogen plant in Paysandu.

Scope

• Historical (2019-2023) and forecast (2024-2028) 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

Reasons to Buy

• Identify and evaluate market opportunities using the analyst'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 the analyst's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Latest news and developments

4 Project analytics

5 Construction Market Data

6 Risk Profile

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/b9mq38

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