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Published: Jan, 2017 | Pages:
70 | Publisher: Timetric
Industry: Construction | Report Format: Electronic (PDF)
Synopsis Construction activity in Argentina was weak in 2016, following the economic recession which resulted in a deteriorating business environment. In addition, poor investor confidence coupled with high inflation and currency devaluation attributed to this decline. Consequently, the country’s construction industry contracted by 12.0% in real terms that year. This was preceded by an annual increase of 2.5% in 2015, but an annual average contraction of 2.7% during 2012-2014. The industry’s value is expected to pick up over the forecast period (2017-2021), with investments in public infrastructure, energy, commercial and industrial projects, and improvement in consumer and investor confidence. Programs such as the Línea Solución Casa Propia program, RenovAr program and Road Infrastructure with a Traffic Safety and Capacity Enhancement program are expected to support the forecast-period growth of the industry. In real terms, the industry’s output value is forecast to rise at a compound annual growth rate (CAGR) of 8.18% over the forecast period - up from -3.47% during the review period (2012-2016). There are risks associated with the Argentine construction industry outlook. The ambiguity surrounding the liberalization of the economy, high inflation and currency devaluation are expected to have a negative impact on fixed capital investments. The industry is expected to perform better in the long-term, supported by the government’s efforts to bring down high inflation rates and reduce the widening budget deficit. Summary Timetric’s Construction in Argentina - Key Trends and Opportunities to 2021 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, and the risks and opportunities they present to participants in the Argentine construction industry • Profiles of the leading operators in the Argentine construction industry Scope This report provides a comprehensive analysis of the construction industry in Argentina. It provides: • Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Argentina using construction output and value-add methods • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector • Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services) • Detailed profiles of the leading construction companies in Argentina Reasons To Buy • Identify and evaluate market opportunities using Timetric'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 Timetric's critical and actionable insight. • Assess business risks, including cost, regulatory and competitive pressures. • Evaluate competitive risk and success factors. Key Highlights • Timetric expects residential construction market output to record a forecast-period CAGR of 29.72% in nominal terms, driven by government support for middle- and low-income citizens though housing programs, coupled with rising residential building permits in the country. However, real growth is expected to be low mainly due to currency devaluation and high inflation. • The government is focusing on the development of freight and passenger railway lines, with an aim to increase the trade activity and mobility of the country. Under the Comprehensive Plan of Works for the Metropolitan Rail Network, the government plans to invest ARS209.6 billion (US$14.2 billion) to build the Regional Express Rail (RER) network, with an aim to triple the capacity of urban rail in Buenos Aires by 2025. • The government is focusing on renewable energy infrastructure in order to reduce carbon emissions in the country, which in turn is expected to drive the growth of the energy and utility construction market over the forecast period. The government aims to increase the share of renewable energy in the total electricity generation capacity from 7.5% in 2016 to 20% by 2025. • In 2016, the government announced plans to invest ARS22.2 billion (US$1.5 billion) to upgrade the infrastructure of 19 airports across the country by 2019. This investment is also part of the government’s move to improve the commercial capacity of airports located in the country’s remote areas, so as to enhance exports of domestic products such as cherries and blueberries. • The government is focusing on the development of the auto manufacturing industry, with an aim of increasing exports from the country, as well as create employment. The government aims to increase the country’s annual vehicles production capacity from 472,776 units annually in 2016 to 750,000 units by 2019, and 1.0 million by 2030. Accordingly, the government launched the ‘One Million Plan’ in March 2017, with an aim to produce 30,000 jobs by 2030.
Table of Contents 1 Executive Summary 2 Industry Outlook 2.1 Commercial Construction 2.2 Industrial Construction 2.3 Infrastructure Construction 2.4 Energy and Utilities Construction 2.5 Institutional Construction 2.6 Residential Construction 3 Key Issues and Developments 4 Market Data Analysis 4.1 Construction Output and Value Add 4.1.1 Construction output by project type 4.1.2 Construction output by cost type 4.1.3 Construction output by activity type 4.1.4 Construction value add by project type 4.2 Commercial Construction 4.2.1 Commercial construction output by project type 4.2.2 Commercial construction output by cost type 4.2.3 Commercial construction output by activity type 4.2.4 Commercial construction value add by project type 4.3 Industrial Construction 4.3.1 Industrial construction output by project type 4.3.2 Industrial construction output by cost type 4.3.3 Industrial construction output by activity type 4.3.4 Industrial construction value add by project type 4.4 Infrastructure Construction 4.4.1 Infrastructure construction output by project type 4.4.2 Infrastructure construction output by cost type 4.4.3 Infrastructure construction output by activity type 4.4.4 Infrastructure construction value add by project type 4.5 Energy and Utilities Construction 4.5.1 Energy and utilities construction output by project type 4.5.2 Energy and utilities construction output by cost type 4.5.3 Energy and utilities construction output by activity type 4.5.4 Energy and utilities construction value add by project type 4.6 Institutional Construction 4.6.1 Institutional construction output by project type 4.6.2 Institutional construction output by cost type 4.6.3 Institutional construction output by activity type 4.6.4 Institutional construction value add by project type 4.7 Residential Construction 4.7.1 Residential construction output by project type 4.7.2 Residential construction output by cost type 4.7.3 Residential construction output by activity type 4.7.4 Residential construction value add by project type 5 Company Profile: IRSA Propiedades Comerciales SA 5.1 IRSA Propiedades Comerciales SA - Company Overview 5.2 IRSA Propiedades Comerciales SA - Main Services 5.3 IRSA Propiedades Comerciales SA - History 5.4 IRSA Propiedades Comerciales SA - Company Information 5.4.1 IRSA Propiedades Comerciales SA - key competitors 5.4.2 IRSA Propiedades Comerciales SA - key employees 6 Company Profile: Equimac SA 6.1 Equimac SA - Company Overview 6.2 Equimac SA - Main Services 6.3 Equimac SA - History 6.4 Equimac SA - Company Information 6.4.1 Equimac SA - key competitors 6.4.2 Equimac SA - key employees 7 Company Profile: CONSULAR Consultores Argentinos Asociados SA 7.1 CONSULAR Consultores Argentinos Asociados SA - Company Overview 7.2 CONSULAR Consultores Argentinos Asociados SA - Main Services 7.3 CONSULAR Consultores Argentinos Asociados SA - History 7.4 CONSULAR Consultores Argentinos Asociados SA - Company Information 7.4.1 CONSULAR Consultores Argentinos Asociados SA - key competitors 7.4.2 CONSULAR Consultores Argentinos Asociados SA - key employees 8 Company Profile: ESUCO SA 8.1 ESUCO SA - Company Overview 8.2 ESUCO SA - Main Services 8.3 ESUCO SA - Company Information 8.3.1 ESUCO SA - key competitors 8.3.2 ESUCO SA - key employees 9 Company Profile: Jose Cartellone Construcciones Civiles SA 9.1 Jose Cartellone Construcciones Civiles SA - Company Overview 9.2 Jose Cartellone Construcciones Civiles SA - Main Services 9.3 Jose Cartellone Construcciones Civiles SA - History 9.4 Jose Cartellone Construcciones Civiles SA - Company Information 9.4.1 Jose Cartellone Construcciones Civiles SA - key competitors 9.4.2 Jose Cartellone Construcciones Civiles SA - key employees 10 Appendix 10.1 What is this Report About? 10.2 Definitions 10.3 Methodology 10.4 Contact Timetric 10.5 About Timetric 10.6 Timetric’s Services 10.7 Disclaimer
List of Tables Table 1: Argentine Construction Output by Project Type (ARS Million), 2012-2016 Table 2: Argentine Construction Output by Project Type (ARS Million), 2016-2021 Table 3: Argentine Construction Output by Cost Type (ARS Million), 2012-2016 Table 4: Argentine Construction Output by Cost Type (ARS Million), 2016-2021 Table 5: Argentine Construction Output by Activity Type (ARS Million), 2012-2016 Table 6: Argentine Construction Output by Activity Type (ARS Million), 2016-2021 Table 7: Argentine Construction Value Add by Project Type (ARS Million), 2012-2016 Table 8: Argentine Construction Value Add by Project Type (ARS Million), 2016-2021 Table 9: Argentine Commercial Construction Output by Project Type (ARS Million), 2012-2016 Table 10: Argentine Commercial Construction Output by Project Type (ARS Million), 2016-2021 Table 11: Argentine Commercial Construction Output by Cost Type (ARS Million), 2012-2016 Table 12: Argentine Commercial Construction Output by Cost Type (ARS Million), 2016-2021 Table 13: Argentine Commercial Construction Output by Activity Type (ARS Million), 2012-2016 Table 14: Argentine Commercial Construction Output by Activity Type (ARS Million), 2016-2021 Table 15: Argentine Commercial Construction Value Add by Project Type (ARS Million), 2012-2016 Table 16: Argentine Commercial Construction Value Add by Project Type (ARS Million), 2016-2021 Table 17: Argentine Industrial Construction Output by Project Type (ARS Million), 2012-2016 Table 18: Argentine Industrial Construction Output by Project Type (ARS Million), 2016-2021 Table 19: Argentine Industrial Construction Output by Cost Type (ARS Million), 2012-2016 Table 20: Argentine Industrial Construction Output by Cost Type (ARS Million), 2016-2021 Table 21: Argentine Industrial Construction Output by Activity Type (ARS Million), 2012-2016 Table 22: Argentine Industrial Construction Output by Activity Type (ARS Million), 2016-2021 Table 23: Argentine Industrial Construction Value Add by Project Type (ARS Million), 2012-2016 Table 24: Argentine Industrial Construction Value Add by Project Type (ARS Million), 2016-2021 Table 25: Argentine Infrastructure Construction Output by Project Type (ARS Million), 2012-2016 Table 26: Argentine Infrastructure Construction Output by Project Type (ARS Million), 2016-2021 Table 27: Argentine Infrastructure Construction Output by Cost Type (ARS Million), 2012-2016 Table 28: Argentine Infrastructure Construction Output by Cost Type (ARS Million), 2016-2021 Table 29: Argentine Infrastructure Construction Output by Activity Type (ARS Million), 2012-2016 Table 30: Argentine Infrastructure Construction Output by Activity Type (ARS Million), 2016-2021 Table 31: Argentine Infrastructure Construction Value Add by Project Type (ARS Million), 2012-2016 Table 32: Argentine Infrastructure Construction Value Add by Project Type (ARS Million), 2016-2021 Table 33: Argentine Energy and Utilities Construction Output by Project Type (ARS Million), 2012-2016 Table 34: Argentine Energy and Utilities Construction Output by Project Type (ARS Million), 2016-2021 Table 35: Argentine Energy and Utilities Construction Output by Cost Type (ARS Million), 2012-2016 Table 36: Argentine Energy and Utilities Construction Output by Cost Type (ARS Million), 2016-2021 Table 37: Argentine Energy and Utilities Construction Output by Activity Type (ARS Million), 2012-2016 Table 38: Argentine Energy and Utilities Construction Output by Activity Type (ARS Million), 2016-2021 Table 39: Argentine Energy and Utilities Construction Value Add by Project Type (ARS Million), 2012-2016 Table 40: Argentine Energy and Utilities Construction Value Add by Project Type (ARS Million), 2016-2021 Table 41: Argentine Institutional Construction Output by Project Type (ARS Million), 2012-2016 Table 42: Argentine Institutional Construction Output by Project Type (ARS Million), 2016-2021 Table 43: Argentine Institutional Construction Output by Cost Type (ARS Million), 2012-2016 Table 44: Argentine Institutional Construction Output by Cost Type (ARS Million), 2016-2021 Table 45: Argentine Institutional Construction Output by Activity Type (ARS Million), 2012-2016 Table 46: Argentine Institutional Construction Output by Activity Type (ARS Million), 2016-2021 Table 47: Argentine Institutional Construction Value Add by Project Type (ARS Million), 2012-2016 Table 48: Argentine Institutional Construction Value Add by Project Type (ARS Million), 2016-2021 Table 49: Argentine Residential Construction Output by Project Type (ARS Million), 2012-2016 Table 50: Argentine Residential Construction Output by Project Type (ARS Million), 2016-2021 Table 51: Argentine Residential Construction Output by Cost Type (ARS Million), 2012-2016 Table 52: Argentine Residential Construction Output by Cost Type (ARS Million), 2016-2021 Table 53: Argentine Residential Construction Output by Activity Type (ARS Million), 2012-2016 Table 54: Argentine Residential Construction Output by Activity Type (ARS Million), 2016-2021 Table 55: Argentine Residential Construction Value Add by Project Type (ARS Million), 2012-2016 Table 56: Argentine Residential Construction Value Add by Project Type (ARS Million), 2016-2021 Table 57: IRSA Propiedades Comerciales SA, Key Facts Table 58: IRSA Propiedades Comerciales SA, Main Services Table 59: IRSA Propiedades Comerciales SA, History Table 60: IRSA Propiedades Comerciales SA, Key Employees Table 61: Equimac SA, Key Facts Table 62: Equimac SA, Main Services Table 63: Equimac SA, History Table 64: Equimac SA, Key Employees Table 65: CONSULAR Consultores Argentinos Asociados SA, Key Facts Table 66: CONSULAR Consultores Argentinos Asociados SA, Main Services Table 67: CONSULAR Consultores Argentinos Asociados SA, History Table 68: CONSULAR Consultores Argentinos Asociados SA, Key Employees Table 69: ESUCO SA, Key Facts Table 70: ESUCO SA, Main Services Table 71: ESUCO SA, Key Employees Table 72: Jose Cartellone Construcciones Civiles SA, Key Facts Table 73: Jose Cartellone Construcciones Civiles SA, Main Services Table 74: Jose Cartellone Construcciones Civiles SA, History Table 75: Jose Cartellone Construcciones Civiles SA, Key Employees Table 76: Timetric Construction Market Definitions List of Figures Figure 1: Argentine Construction Output (Real US$ 2010, Million), 2012-2021 Figure 2: Growth Matrix for Construction Output in Argentina (US$ Million), 2012-2021 Figure 3: Argentine Construction Output by Project Type (ARS Million), 2012-2021 Figure 4: Argentine Construction Output by Cost Type (ARS Million), 2012-2021 Figure 5: Argentine Construction Output by Activity Type (ARS Million), 2012-2021 Figure 6: Argentine Construction Value Add by Project Type (ARS Million), 2012-2021 Figure 7: Argentine Commercial Construction Output by Project Type (ARS Million), 2012-2021 Figure 8: Argentine Commercial Construction Output by Cost Type (ARS Million), 2012-2021 Figure 9: Argentine Commercial Construction Output by Activity Type (ARS Million), 2012-2021 Figure 10: Argentine Commercial Construction Value Add by Project Type (ARS Million), 2012-2021 Figure 11: Argentine Industrial Construction Output by Project Type (ARS Million), 2012-2021 Figure 12: Argentine Industrial Construction Output by Cost Type (ARS Million), 2012-2021 Figure 13: Argentine Industrial Construction Output by Activity Type (ARS Million), 2012-2021 Figure 14: Argentine Industrial Construction Value Add by Project Type (ARS Million), 2012-2021 Figure 15: Argentine Infrastructure Construction Output by Project Type (ARS Million), 2012-2021 Figure 16: Argentine Infrastructure Construction Output by Cost Type (ARS Million), 2012-2021 Figure 17: Argentine Infrastructure Construction Output by Activity Type (ARS Million), 2012-2021 Figure 18: Argentine Infrastructure Construction Value Add by Project Type (ARS Million), 2012-2021 Figure 19: Argentine Energy and Utilities Construction Output by Project Type (ARS Million), 2012-2021 Figure 20: Argentine Energy and Utilities Construction Output by Cost Type (ARS Million), 2012-2021 Figure 21: Argentine Energy and Utilities Construction Output by Activity Type (ARS Million), 2012-2021 Figure 22: Argentine Energy and Utilities Construction Value Add by Project Type (ARS Million), 2012-2021 Figure 23: Argentine Institutional Construction Output by Project Type (ARS Million), 2012-2021 Figure 24: Argentine Institutional Construction Output by Cost Type (ARS Million), 2012-2021 Figure 25: Argentine Institutional Construction Output by Activity Type (ARS Million), 2012-2021 Figure 26: Argentine Institutional Construction Value Add by Project Type (ARS Million), 2012-2021 Figure 27: Argentine Residential Construction Output by Project Type (ARS Million), 2012-2021 Figure 28: Argentine Residential Construction Output by Cost Type (ARS Million), 2012-2021 Figure 29: Argentine Residential Construction Output by Activity Type (ARS Million), 2012-2021 Figure 30: Argentine Residential Construction Value Add by Project Type (ARS Million), 2012-2021
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