Construction in Argentina - Key Trends Outlook, Project analytics, Residential Construction, Political Environment, Opportunities to 2022

Market Research Hub (MRH) has actively included a new research study titled Construction in Argentina - Key Trends and Opportunities to 2022 to its wide online repository. The concerned market is discoursed based on a variety of market influential factors such as drivers, opportunities and restraints. This study tends to inform the readers about the current as well as future market scenarios extending up to the period until 2022. In addition, a deep analysis of the competitive landscape, including prime market players is also enclosed in this report.

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Construction in Argentina - Key Trends and Opportunities to 2022

Summary

Argentinas construction industry recovered in 2017, and registered a growth rate of 12.4% in real terms, following a steep decline of 12.2% in 2016. This recovery was driven by positive developments in economic conditions, revival in investor confidence and investments in transport infrastructure, energy and housing. Additionally, government efforts to attract foreign investments to develop the countrys overall infrastructure supported the industry's growth. Consequently, the countrys construction industrys output value, measured at constant 2017 US dollar exchange rates, increased from US$43.7 billion in 2016 to US$49.1 billion in 2017.

However, the recovery has been short-lived, with the pace of expansion slowing sharply in 2018. High inflation and the devaluation of the currency continue to hold back investment growth and create a challenging business environment for investors. In June 2018, the government secured a US$50.0 billion credit line from the International Monetary Fund (IMF) - which was increased to US$57 billion in September 2018 - which aimed at bolstering confidence and stabilizing the economy. In addition, the Central Bank of Argentina raised its benchmark rate from 45% to 60% in August 2018, in an effort to curb inflation and halt a slide in the peso. To meet the IMFs requirements for the standby agreement, the government announced new austerity measures last September to cut the budget deficit and restore investors confidence, including new taxes on exports and the elimination of several ministries. Consequently, in October 2018, the lower house of Congress approved the government austerity budget.

Although growing at a slow pace in the early part of the forecast period, over the whole five-year period, the industrys output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 5.10%, compared to -0.64% during the review period (2013-2017). The expansion will be driven by the governments efforts to develop the countrys infrastructure and improve the housing sector. With its public private partnership (PPP) initiative, the government plans to attract ARS438.9 billion (US$26.5 billion) in infrastructure investment by 2022. Additionally, the governments focus on the development of renewable energy infrastructure under the Renovar program is expected to drive industry growth.

GlobalDatas "Construction in Argentina - Key Trends and Opportunities to 2022", report provides detailed market analysis, information and insights into the Argentine construction industry, including -
- The Argentine 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 the Argentine construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Key Highlights

- GlobalData expects the residential construction market to retain its leading position over the forecast period driven by governments effort to reduce the housing deficit in the country, through the construction of affordable housing units under the ProCreAr and ProDeVi programs. The government aims to attract private investors under the ProDeVi program to build 10,200 affordable houses in the country by 2024. The government expects an investment of ARS3.7 billion (US$130.0 million) for the first set of 2,600 houses by 2021-2022, which is expected to support the expansion of residential construction output over the forecast period.

- Forecast-period growth in the energy and utilities construction market will be driven by public and private sector investments in energy construction project, especially investment in renewable energy projects. The government is currently seeking to expand the countrys power transmission network, with 3,300km of transmission lines expected to be built by 2021-2022. Investments in the oil and gas sector are also expected to drive growth over the coming years.

- GlobalData expects the infrastructure construction market to expand over the forecast period, driven by public and private sector investments in transport infrastructure. The government efforts to attract private sector investment in order to develop road, rail, airport and other transport infrastructure are expected to support the growth of the market over the forecast period. In 2017, the government launched the Safe Highways and Roads Network program as part of its PPP initiative. Under this program, the government aims to construct and modernize 810km of highways, 1,494km of roads and 252km of special routes through PPPs.

- Forecast period growth in the industrial construction market will be driven by the One Million Plan through which the government aims to double the countrys car production from 472,776 vehicles in 2016 to 1.0 million by 2023. In October 2017, General Motors Co. and its suppliers announced a plan to invest ARS8.3 billion (US$500.0 million) to produce a new Chevrolet model in the country by 2020.

- The total construction project pipeline in Argentina - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at ARS1.4 trillion (US$85.8 billion). The pipeline, which includes all projects from pre-planning to execution, is relatively well balanced, with 47.7% of the pipeline value being in projects in the pre-planning and planning stages as of January 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Argentina. It provides -
- Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in Argentina, 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.

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Table of Contents

1. EXECUTIVE SUMMARY 2
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE 3
3. LATEST NEWS AND INDICATORS 9
4. KEY DRIVERS AND RISKS 11
4.1. Economic Performance 11
4.2. Political Environment 11
4.3. Demographics 11
4.4. Risk Profile 13
5. CONSTRUCTION OUTLOOK 14
5.1. All Construction 14
5.1.1. Outlook 14
5.1.2. Project analytics 16
5.2. Commercial Construction 19
5.2.1. Outlook 19
5.2.2. Project analytics 21
5.3. Industrial Construction 23
5.3.1. Outlook 23
5.3.2. Project analytics 24
5.4. Infrastructure Construction 26
5.4.1. Outlook 26
5.4.2. Project analytics 28
5.5. Energy and Utilities Construction 30
5.5.1. Outlook 30
5.5.2. Project analytics 31
5.6. Institutional Construction 33
5.6.1. Outlook 33
5.6.2. Project analytics 35
5.7. Residential Construction 37
5.7.1. Outlook 37
5.7.2. Project analytics 39
6. KEY INDUSTRY PARTICIPANTS 41
6.1. Contractors 41
6.2. Consultants 43
7. APPENDIX 45
7.1. What is this Report About? 45
7.2. Definitions 45
8. ABOUT GLOBALDATA 49
8.1. GlobalData at a Glance 49
8.2. GlobalData Construction 50
8.3. Disclaimer 51
8.4. Contact Us 51

List of Tables
Table 1: Construction Outlook 3
Table 2: Argentina, Key Economic Indicators 11
Table 3: Argentina, Construction Output Value (nominal, ARS Million) 17
Table 4: Argentina, Construction Output Value (nominal, US$ Million) 18
Table 5: Argentina, Top Commercial Construction Projects by Value 22
Table 6: Argentina, Top Industrial Construction Projects by Value 25
Table 7: Argentina, Top Infrastructure Construction Projects by Value 29
Table 8: Argentina, Top Energy and Utilities Construction Projects by Value 32
Table 9: Argentina, Top Institutional Construction Projects by Value 36
Table 10: Argentina, Top Residential and Mixed-Use Construction Projects by Value 40
Table 11: Argentina, Key Contractors 41
Table 12: Argentina, Key Consultants 43
Table 13: GlobalData Construction Market Definitions 46
Table 14: Construction Risk Index Ratings and Scores 48

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