Chile Construction Market Report and Forecast 2024-2032

Chile Construction Market Outlook

The Chile construction market size reached approximately USD 32.1 billion in 2023. The market is projected to grow at a CAGR of 5% between 2024 and 2032, reaching a value of around USD 49.8 billion by 2032.

Key Takeaways

• The Chilean government unveiled an ambitious plan worth USD 34 billion aimed at enhancing infrastructure projects through 2021.

• The government is actively promoting the development of smart cities, integrating management technologies as well as the services for citizens and businesses.

• In 2020, the government of Chile introduced the Infrastructure Plan for Mobility 2050, intending to modernise and enhance the 1997 National Plan, which will promote public infrastructure development over the next 30 years.

Chile’s construction sector is experiencing a significant uptick, primarily driven by economic expansion, rapid urbanisation, and advancements in construction technology. The surge in demand for housing units is fuelled by increasing disposable incomes of the growing population. As a result, there has been a notable rise in investments in construction projects, including new residential structures, property renovations, and the expansion of commercial spaces.

The Chile construction market growth is also influenced by a significant influx of investors due to a rise in adoption of sustainable construction practices. There is a growing emphasis on acquiring green building certifications like LEED (Leadership in Energy and Environmental Design), which promote sustainable construction methods aligned with Chile's sustainability objectives. These certifications prioritise energy efficiency, water conservation, and the utilisation of environmentally responsible materials.

Furthermore, the utilisation of advanced technologies, including Building Information Modelling, 3D printing, and robotics, in the construction sector is having a positive impact on the prospects of the market. The implementation of 3D modelling software facilitates collaboration throughout the design, construction, and development of building structures, resulting in enhanced efficiency, reduced errors, and increased profitability. Furthermore, the growing utilisation of robotics in construction tasks such as masonry, welding, and painting enhances both safety and productivity. These robots are specifically designed to operate with exceptional precision and accuracy, thereby improving the overall quality of work and minimising errors and rework, consequently driving up the Chile construction market share.

Market Segmentation

Chile Construction Market Report and Forecast 2024-2032 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

Competitive Landscape

The market participants are adopting sustainable building practices and integrating intelligent technological approaches into the construction process to attain a competitive advantage.

• Sigdo Koppers S.A.

• SalfaCorp S.A.

• Besalco SA

• Echeverría Izquierdo S.A

• SOCOVESA

• Inarco SA

• Grupo Flesan

• Acciona SA

• Fomento de Construcciones y Contratas SA

• Moller & Pérez-Cotapos S.A.

• Others

Key Highlights of the Report