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Construction in Venezuela - Key Trends and Opportunities to 2017

Venezuela Construction Market forecast to continue expanding by 15% over the next few years


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2014-03-27 09:30:05 - Construction in Venezuela - Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

Synopsis

This report provides detailed market analysis, information and insights into the Venezuelan construction industry, including:
• The Venezuelan construction market´s growth prospects by sector, project type and type of construction activity
• Analysis of equipment, material and service costs across each project type within Venezuela
• Critical insight into the impact of industry trends and issues and the risks and opportunities they present to participants in the Venezuelan construction industry
• Assessment of the competitive forces facing the construction industry in Venezuela and profiles of the leading operators
• Data highlights of the largest construction projects inVenezuela.

Scope

This report provides a comprehensive analysis of the construction industry in Venezuela:
• Historical

 

 

(2008-2012) and forecast (2013-2017) valuations of the construction industry in Venezuela using the construction output and value-add methods
• Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type
• 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)
• Analysis of key construction industry issues, including regulation, cost management, funding and pricing
• Assessment of the competitive environment using Porter´s Five Forces
• Detailed profiles of the leading construction companies in Venezuela

Reasons To Buy

• Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
• Assess market growth potential at a micro-level via 600+ time series data forecasts
• Understand the latest industry and market trends
• Formulate & validate business strategies by leveraging our critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors

Key Highlights

• According to Central Bank of Venezuela (BCV) figures, the country has registered steep rise in inflation rates in recent years. The consumer price index in the country increased by 49.4% in September 2013 compared with the same period in 2012. With high inflation, a deteriorating business environment and depreciating domestic currency against the US dollar, the real growth rate of the construction industry´s output is expected to remain weak over the forecast period.

• Growth in the construction industry slowed to 9.1% in 2012, after registering above 14% growth during 2008–2011 as the industry experienced the pressure of material shortages and power shutdowns along with a decline in growth of public funding as export revenues from oil, which is a main source of finance to these projects, grew by just 4% in 2012, compared to 35% in 2011. The trend has continued, and the construction industry´s real growth rate for the first two quarters of 2013 of was -3.4%. The contraction was caused by a decline in government spending on its mass housing construction program.

• Construction value added in nominal terms registered a CAGR of 21.49% during the review period to reach VEF131.1 billion (US$30.5 billion) in 2012. Over the forecast period, the growth in construction value added is likely to be lower, at a CAGR of 16.90%, as contractors experience a challenging period with supply constraints and legal and bureaucratic bottlenecks likely to delay execution of projects.
• Despite a moderation in the growth of the working-age population (15–64 years) from 2.9% in 1990 to 1.7% in 2012, the share of working-age population to total population increased from 58.3% in 1990 to 65.2% in 2012. This was mainly due to a fall in the share of the young-age population from 38.0% to 28.8% during the same period. According to UN statistics, the dependency ratio moderated from 71% in 1990 to 53.6% in 2012 as the working-age population grew. However, this trend is likely to reverse by 2050, with the dependency ratio reaching 54.8% as the share of the old-age population reaches close to 16.5% of the total population
• Multinational companies in the country are investing surplus profits in commercial property, as there is a ban on the outflow of money. With rising inflation, commercial property is considered to be a preferable option for companies as returns on investment in property are likely to be higher as property value for deals in the country is determined at the unofficial exchange rate (market rate), which is higher than the official rate (as fixed by the government).

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