Dublin, Oct. 09, 2024 (GLOBE NEWSWIRE) -- The "Ecuador 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.
Ecuador's construction industry is projected to decline by 3.4% in real terms in 2024, as the country faces the impacts of high interest rates because of rising inflation, rising construction material costs amid the ongoing energy crises and drought in the country. In April 2024, the government declared an emergency of 60 days to stabilize the energy sector as the energy demand was more than the supply. The nation has also suffered from severe political disturbances which has contributed to weak investor and consumer confidence.
Over the remainder of the forecast period, Ecuador's construction industry is expected to rebound at an average annual growth rate of 3.6% from 2025 to 2028, supported by investment in mining, transport, electricity, education, and housing sectors. In February 2024, the government announced the 2024 Budget, which included a 13% rise in capital expenditure to $35.5 billion. Of the total, $4.6 billion was allocated to the education sector, $4.4 billion to the health sector, and $3.5 billion to the security sector.
The construction industry's growth over the forecast period will also be supported by the government's plan to generate over $4 billion annually through mining exports by 2025. Among the recent developments, in June 2024, the government signed an agreement with the Australian mining company - SolGold - for a mining project in Imbabura province, with an estimated investment of $3.2 billion. The project involves the construction of a mining plant in phases. The first phase includes an investment of $1.55 billion for the construction of a processing plant, which is expected to start construction in 2025.
Furthermore, in March 2024, Canadian mining company, Adventus Mining reported that it is planning to start construction on the Curipamba copper-gold project in 2024. The project includes the construction of a gold mining plant in Curipamba with an investment of $250 million. Previously, in July 2023, EcuaCorriente, the Ecuadorian subsidiary of the Chinese investment consortium, CRCC-Tongguan, signed an $700 million agreement with the government for the expansion of the Mirador copper mines in Zamora Chinchipe. The project involves the expansion and construction work of the mine, increasing Cooper production capacity from 800 tons per day in 2023 to 2,000 tons per day by 2026.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Ecuador, 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/x71w55
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