Brazil Construction Market Report and Forecast 2025-2034

Brazil Construction Market Outlook

The Brazil construction market size was valued at USD 127.63 billion in 2024. The market is further projected to grow at a CAGR of 6.3% between 2025 and 2034, reaching a value of USD 223.73 billion by 2034.

Key Takeaways

• In December 2023, Brazil's construction cost was reported at 1,722.190 BRL/sq m, showing an increase from the previous month's figure of 1,717.710 BRL/sq m.

• As per industry reports, Brazil's GDP from construction increased to 16,505.79 BRL Million in the fourth quarter of 2023 from 16,305.02 BRL Million in the third quarter of 2023.

• Construction projects, such as construction of a residential complex on 32.08 hectares of land in Salvador, Bahia which is anticipated to be completed in Q4 2025 are influencing the Brazil construction market development.

Government's plan to increase domestic oil production to 5.4 million barrels per day by 2030, government's focus to increase the production of green hydrogen, and government's plan to reduce greenhouse gas (GHG) emissions by 37% by 2025 and by 50% by 2030, based on 2005 levels has led to investments in industrial, transport, renewable energy, housing, and oil sectors. This can drive the Brazil construction market growth. Additionally, the Brazilian government has set ambitious targets, such as constructing two million affordable homes by 2026, which is driving investment and growth in the construction sector.

In the commercial sector, investments in football stadiums, office, and data centre projects will drive growth over the forecast period. The industrial sector will also benefit from Brazil's target of manufacturing a total of 1 million hybrid (HEV) and battery (BEV) electric vehicles by 2030, supporting the growth of manufacturing plants and waste processing plants.

Residential construction will benefit from the government's initiatives to reduce the country's housing deficit and guarantee the right to affordable housing to its citizens. The demand for modern and efficient office spaces is also increasing in Brazil, especially in major cities like Sao Paulo and Rio de Janeiro. Developers are investing in new commercial projects, including high-rise office buildings and business parks, to cater to this demand. The demand for modern and efficient healthcare facilities is also increasing in Brazil, driven by the growing population and the need for better healthcare services. Developers are investing in new institutional projects, including hospitals, clinics, and medical research centres, to cater to this demand. This can influence the Brazil construction market development.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Market Segmentation

Brazil construction market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Construction Type

• New Construction

• Renovations

Market Breakup by End Use

• Commercial

• Residential

• Industrial

• Institutional

Market Breakup by Region

• São Paulo

• Minas Gerais

• Rio de Janeiro

• Bahia 

• Rio Grande do Sul

Competitive Landscape

Market players are investing in projects in sectors like transport, housing, renewable energy, and oil to drive growth in the construction industry.

• Odebrecht Engineering and Construction S.A.

• Andrade Gutierrez S.A.

• Queiroz Galvão S.A.

• Camargo Corrêa Construction Company

• MRV&CO Group

• Construcap CCPS Engenharia and Comérico SA

• Grupo A.R.G.

• Racional Engenharia Ltda.

• Direcional Engenharia

• GAFISA S/A

• Others

Key Highlights of the Report