Construction in Chile – Key Trends and Opportunities to 2017

Published: April 2013
No. of Pages: 72
Original Price: US $ 1950
  

Synopsis

This report provides detailed market analysis, information and insights into the Chilean construction market, including:

  • The Chilean 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 Chile
  • Critical insight into the impact of industry trends and issues and the risks and opportunities they present to participants in the Chilean construction market
  • Assessment of the competitive forces facing the construction industry in Chile and profiles of the leading players
  • Data highlights of the largest construction projects in Chile

Summary

The Chilean construction industry increased in value at a CAGR of 5.19% during the review period to reach CLP18 trillion (US$36.1 billion) in 2012. This growth was supported by a rapid inflow in foreign direct investment (FDI), low unemployment, reconstruction and modernization work following the 2010 earthquake, and the country’s favorable demographic situation. There were also significant private and public investments in Chilean commercial, industrial, infrastructural and residential construction projects. The growth of the construction industry is expected to remain strong over the forecast period as a result of the government’s commitment to improve the country’s infrastructure, meet rising demand for residential units, and provide support for the mining industry. The infrastructure and residential construction markets together accounted for 71% of the total Chilean construction industry in 2012, and the contributions of these two markets will be significant to the overall Chilean construction industry growth over the forecast period. Timetric expects the Chilean construction industry’s output to record a CAGR of 8.15% over the forecast period to reach a value of CLP26.7 trillion (US$53.4 billion) by 2017.

Scope

This report provides a comprehensive analysis of the construction industry in Chile:

  • Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in Chile 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 Chile

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 and 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

  • The unemployment rate in Chile eased to around 6.5% in 2012, from a peak of 10.0% in 2009. However, average employment growth has eased, dropping to 2.0% in 2012, down from the 5.1% and 7.4% reported in the previous two years. Nevertheless, unemployment is expected to fall further over the forecast period, in line with the forecast improvements in exports and investment.
  • The government’s budget surplus as a percentage of GDP dropped to 0.6% in 2012, compared with 1.5% in 2011, owing to sluggish revenue growth and increased spending. Overall expenditure is expected to remain high, keeping the fiscal surplus below the equivalent of 1% of GDP over the forecast period.
  • Mining is one of the key industries in the domestic economy, contributing more than 20% of the country’s GDP. The industry also provides employment directly or indirectly to around 600,000 people. Over the next 12 years, the National Mining Society of Chile expects investment worth US$100 billion within the mining sector, which will provide a major boost to industrial construction activity.
  • Chile’s construction industry has registered strong growth in recent years, due in part to rebuilding works following the earthquake in 2010. The earthquake destroyed 220,000 homes as well as one-third of hospitals and schools in the southern regions of Maule and Bío Bío. However, with 80% of the reconstruction work completed, its influence on construction activity will wane over the forecast period.
  • In the 2013 budget, the Chilean government proposed a US$12.8 billion expenditure plan for education, an increase of 9.4% over 2012 budget spending, which will help to boost institutional construction activity. The Ministry of Health (MoH), along with Ministry of Public Works (MoPW), is planning to develop a new hospital in Antofagasta, with an expected investment of US$265 million.

Construction in Chile – Key Trends and Opportunities to 2017

Table of Contents

1 Executive Summary

2 Market Overview
2.1 Macroeconomic Outlook
2.2 Key Trends and Issues
2.3 Key Construction Indicators
2.4 Benchmarking by Market Size and Growth
2.5 Price Dynamics
2.5.1 Salaries
2.5.2 Equipment
2.5.3 Materials
2.5.4 Energy
2.6 Porter’s Five-Forces Analysis of the Chilean Construction Industry
2.6.1 Bargaining power of suppliers – low
2.6.2 Bargaining power of buyers – medium
2.6.3 Barriers to entry – low
2.6.4 Intensity of rivalry – high
2.6.5 Threat of substitution – low
2.7 Demographic Profile

3 Commercial Construction
3.1 Performance Outlook
3.2 Key Issues
3.3 Data and Projects Highlights

4 Industrial Construction
4.1 Performance Outlook
4.2 Key Issues
4.3 Data and Projects Highlights

5 Infrastructure Construction
5.1 Performance Outlook
5.2 Key Issues
5.3 Data and Projects Highlights

6 Institutional Construction
6.1 Performance Outlook
6.2 Key Issues
6.3 Data and Projects Highlights

7 Residential Construction
7.1 Performance Outlook
7.2 Key Issues
7.3 Data and Projects Highlights

8 Company Profile: Salfacorp SA
8.1 Salfacorp SA – Company Overview
8.2 Salfacorp SA – Business Description
8.3 Salfacorp SA – Main Products and Services
8.4 Salfacorp SA – History
8.5 Salfacorp SA – Company Information
8.5.1 Salfacorp SA – key competitors
8.5.2 Salfacorp SA – key employees

9 Company Profile: Tecsa Holding
9.1 Tecsa Holding – Company Overview
9.2 Tecsa Holding – Main Services
9.3 Tecsa Holding – Company Information
9.3.1 Tecsa Holding – key competitors
9.3.2 Tecsa Holding – key employees

10 Company Profile: Besalco SA
10.1 Besalco SA – Company Overview
10.2 Besalco SA – Main Services
10.3 Besalco SA – Company Information
10.3.1 Besalco SA – key competitors
10.3.2 Besalco SA – key employees

11 Company Profile: Socovesa SA
11.1 Socovesa SA – Company Overview
11.2 Socovesa SA – Main Services
11.3 Socovesa SA – Company Information
11.3.1 Socovesa SA – key competitors
11.3.2 Socovesa SA – key employees

12 Company Profile: Sigdo Koppers SA
12.1 SigdoKoppers SA – Company Overview
12.2 SigdoKoppers SA – Main Services
12.3 SigdoKoppers SA – Company Information
12.3.1 SigdoKoppers SA – key competitors
12.3.2 SigdoKoppers SA – key employees

13 Market Data Analysis
13.1 Construction Output and Value-Add
13.1.1 Construction output by project type
13.1.2 Construction output by cost type
13.1.3 Construction output by activity type
13.1.4 Construction value-add by project type
13.2 Commercial Construction
13.2.1 Commercial construction output by project type
13.2.2 Commercial construction output by cost type
13.2.3 Commercial construction output by activity type
13.2.4 Commercial construction value add by project type
13.3 Industrial Construction
13.3.1 Industrial construction output by project type
13.3.2 Industrial construction output by cost type
13.3.3 Industrial construction output by activity type
13.3.4 Industrial construction value-add by project type
13.4 Infrastructure Construction
13.4.1 Infrastructure construction output by project type
13.4.2 Infrastructure construction output by cost type
13.4.3 Infrastructure construction output by activity type
13.4.4 Infrastructure construction value-add by project type
13.5 Institutional Construction
13.5.1 Institutional construction output by project type
13.5.2 Institutional construction output by cost type
13.5.3 Institutional construction output by activity type
13.5.4 Institutional construction value-add by project type
13.6 Residential Construction
13.6.1 Residential construction output by project type
13.6.2 Residential construction output by cost type
13.6.3 Residential construction output by activity type
13.6.4 Residential construction value-add by project type

14 Appendix
14.1 What is this report about?
14.2 Definitions
14.3 Summary Methodology
14.4 Methodology
14.5 Contact Timetric
14.6 About Timetric
14.7 Timetric’s Services
14.7.1 Core capabilities
14.8 Disclaimer

List of Tables

Table 1: Project 1 – MPC – Vitacura Parque San Damian Mixed Use Development: Office Towers – Santiago
Table 2: Project 2 – Falabella – Santiago Mariott Courtyard Hotel – Las Condes
Table 3: Project 3 – Cencosud – Hualpen Portal Biobio Commercial Center Development – Biobio
Table 4: Project 1 – KGHM/Sumitomo – Sierra Gorda Copper-Molybdenum Processing Facility – Antofagasta
Table 5: Project 2 – Codelco – Mejillones Molibdenum Processing Plant – Antofagasta
Table 6: Project 3 – Gerdau – Steel Plant Expansion – Santiago
Table 7: Project 1 – MOP – Autopista Costanera Central Motorway Development – Santiago
Table 8: Project 2 – MSA – Santiago Metro Line 6 – Santiago
Table 9: Project 3 – MOP – Puente Chacao Development – Chiloe
Table 10: Project 1 – MOP – New Hospital Antofagasta – Region II
Table 11: Project 2 – MoH – Sótero del Río Hospital Development – Santiago
Table 12: Project 3 – SSMO – New Metropolitan Hospital – Cerro Navia
Table 13: Project 1 – IA/CL – Cerrillos Laguna Santiago Residential Complex – Santiago
Table 14: Project 2 – Almagro – Residential Buildings Development – Antofagasta
Table 15: Project 3 – EBCO/Prohabit – Papudo Residential Units Development – Valparaíso
Table 16: Salfacorp SA, Key Facts
Table 17: Salfacorp SA, Main Products and Services
Table 18: Salfacorp SA, History
Table 19: Salfacorp SA, Key Employees
Table 20: Tecsa Holding, Key Facts
Table 21: Tecsa Holding, Main Services
Table 22: Tecsa Holding, Key Employees
Table 23: Besalco SA, Key Facts
Table 24: Besalco SA, Main Services
Table 25: Besalco SA, Key Employees
Table 26: Socovesa SA, Key Facts
Table 27: Socovesa SA, Main Services
Table 28: Socovesa SA, Key Employees
Table 29: SigdoKoppers SA, Key Facts
Table 30: SigdoKoppers SA, Main Services
Table 31: SigdoKoppers SA, Key Employees
Table 32: Chilean Construction Output by Project Type (CLP Million), 2008-2012
Table 33: Chilean Construction Output by Project Type (CLP Million), 2012-2017
Table 34: Chilean Construction Output by Cost Type (CLP Million), 2008-2012
Table 35: Chilean Construction Output by Cost Type (CLP Million), 2012-2017
Table 36: Chilean Construction Output by Activity Type (CLP Million), 2008-2012
Table 37: Chilean Construction Output by Activity Type (CLP Million), 2012-2017
Table 38: Chilean Construction Value-Add by Project Type (CLP Million), 2008-2012
Table 39: Chilean Construction Value-Add by Project Type (CLP Million), 2012-2017
Table 40: Chilean Commercial Construction Output by Project Type (CLP Million), 2008-2012
Table 41: Chilean Commercial Construction Output by Project Type (CLP Million), 2012-2017
Table 42: Chilean Commercial Construction Output by Cost Type (CLP Million), 2008–2012
Table 43: Chilean Commercial Construction Output by Cost Type (CLP Million), 2012–2017
Table 44: Chilean Commercial Construction Output by Activity Type (CLP Million), 2008–2012
Table 45: Chilean Commercial Construction Output by Activity Type (CLP Million), 2012–2017
Table 46: Chilean Commercial Construction Value Add by Project Type (CLP Million), 2008–2012
Table 47: Chilean Commercial Construction Value Add by Project Type (CLP Million), 2012–2017
Table 48: Chilean Industrial Construction Output by Project Type (CLP Million), 2008-2012
Table 49: Chilean Industrial Construction Output by Project Type (CLP Million), 2012-2017
Table 50: Chilean Industrial Construction Output by Cost Type (CLP Million), 2008–2012
Table 51: Chilean Industrial Construction Output by Cost Type (CLP Million), 2012–2017
Table 52: Chilean Industrial Construction Output by Activity Type (CLP Million), 2008–2012
Table 53: Chilean Industrial Construction Output by Activity Type (CLP Million), 2012–2017
Table 54: Chilean Industrial Construction Value Add by Project Type (CLP Million), 2008–2012
Table 55: Chilean Industrial Construction Value Add by Project Type (CLP Million), 2012–2017
Table 56: Chilean Infrastructure Construction Output by Project Type (CLP Million), 2008-2012
Table 57: Chilean Infrastructure Construction Output by Project Type (CLP Million), 2012-2017
Table 58: Chilean Infrastructure Construction Output by Cost Type (CLP Million), 2008–2012
Table 59: Chilean Infrastructure Construction Output by Cost Type (CLP Million), 2012–2017
Table 60: Chilean Infrastructure Construction Output by Activity Type (CLP Million), 2008–2012
Table 61: Chilean Infrastructure Construction Output by Activity Type (CLP Million), 2012–2017
Table 62: Chilean Infrastructure Construction Value Add by Project Type (CLP Million), 2008–2012
Table 63: Chilean Infrastructure Construction Value Add by Project Type (CLP Million), 2012–2017
Table 64: Chilean Institutional Construction Output by Project Type (CLP Million), 2008-2012
Table 65: Chilean Institutional Construction Output by Project Type (CLP Million), 2012-2017
Table 66: Chilean Institutional Construction Output by Cost Type (CLP Million), 2008–2012
Table 67: Chilean Institutional Construction Output by Cost Type (CLP Million), 2012–2017
Table 68: Chilean Institutional Construction Output by Activity Type (CLP Million), 2008–2012
Table 69: Chilean Institutional Construction Output by Activity Type (CLP Million), 2012–2017
Table 70: Chilean Institutional Construction Value Add by Project Type (CLP Million), 2008–2012
Table 71: Chilean Institutional Construction Value Add by Project Type (CLP Million), 2012–2017
Table 72: Chilean Residential Construction Output by Project Type (CLP Million), 2008-2012
Table 73: Chilean Residential Construction Output by Project Type (CLP Million), 2012-2017
Table 74: Chilean Residential Construction Output by Cost Type (CLP Million), 2008–2012
Table 75: Chilean Residential Construction Output by Cost Type (CLP Million), 2012–2017
Table 76: Chilean Residential Construction Output by Activity Type (CLP Million), 2008–2012
Table 77: Chilean Residential Construction Output by Activity Type (CLP Million), 2012–2017
Table 78: Chilean Residential Construction Value Add by Project Type (CLP Million), 2008–2012
Table 79: Chilean Residential Construction Value Add by Project Type (CLP Million), 2012–2017
Table 80: Timetric Construction Market Definitions

List of Figures

Figure 1- Growth Matrix for Construction Output in Chile
Figure 2: Chilean Economic Outlook
Figure 3: Chilean Construction Activity in Selected Regions (Index, 2010=100)
Figure 4: Chilean Building Costs Index (% annual)
Figure 5: Chilean Construction Gross Value Added (CLP Million)
Figure 6: Chilean House Prices (Index, 2004=100)
Figure 7: Chilean Construction Materials Sales Volume (% Annual)
Figure 8: Chilean Building Permits for New Housing (Number of Permits)
Figure 9: Benchmarking With Other Major Markets
Figure 10: Chilean Population
Figure 11: Chilean Commercial Construction Output (US$ Million)
Figure 12: Chilean Industrial Construction Output (US$ Million)
Figure 13: Chilean Infrastructure Construction Output (US$ Million)
Figure 14: Chilean Institutional Construction Output (US$ Million)
Figure 15: Chilean Residential Construction Output (US$ Million)
Figure 16: Chilean Construction Output by Project Type (CLP Million) 2008-2017
Figure 17: Chilean Construction Output by Cost Type (CLP Million) 2008-2017
Figure 18: Chilean Construction Output by Activity Type (CLP Million) 2008-2017
Figure 19: Chilean Construction Value-Add by Project Type (CLP Million) 2008-2017
Figure 20: Chilean Commercial Construction Output by Project Type (CLP Million) 2008-2017
Figure 21: Chilean Commercial Construction Output by Cost Type (CLP Million) 2008-2017
Figure 22: Chilean Commercial Construction Output by Activity Type (CLP Million) 2008–2017
Figure 23: Chilean Commercial Construction Value Add by Project Type (CLP Million) 2008-2017
Figure 24: Chilean Industrial Construction Output by Project Type (CLP Million) 2008-2017
Figure 25: Chilean Industrial Construction Output by Cost Type (CLP Million) 2008-2017
Figure 26: Chilean Industrial Construction Output by Activity Type (CLP Million) 2008-2017
Figure 27: Chilean Industrial Construction Value Add by Project Type (CLP Million) 2008-2017
Figure 28: Chilean Infrastructure Construction Output by Project Type (CLP Million) 2008-2017
Figure 29: Chilean Infrastructure Construction Output by Cost Type (CLP Million) 2008-2017
Figure 30: Chilean Infrastructure Construction Output by Activity Type (CLP Million) 2008-2017
Figure 31: Chilean Infrastructure Construction Value Add by Project Type (CLP Million) 2008-2017
Figure 32: Chilean Institutional Construction Output by Project Type (CLP Million) 2008-2017
Figure 33: Chilean Institutional Construction Output by Cost Type (CLP Million) 2008-2017
Figure 34: Chilean Institutional Construction Output by Activity Type (CLP Million) 2008-2017
Figure 35: Chilean Institutional Construction Value Add by Project Type (CLP Million) 2008-2017
Figure 36: Chilean Residential Construction Output by Project Type (CLP Million) 2008-2017
Figure 37: Chilean Residential Construction Output by Cost Type (CLP Million) 2008-2017
Figure 38: Chilean Residential Construction Output by Activity Type (CLP Million) 2008-2017
Figure 39: Chilean Residential Construction Value Add by Project Type (CLP Million) 2008-2017

Published By: Timetric
Product Code: Timetric604


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