Colombia Construction Market Report and Forecast 2024-2032

Colombia Construction Market Outlook

The Colombia construction market size is projected to expand at a CAGR of 6.60% between 2024 and 2032.

Key Takeaways

• Innovative technologies like 3D printing, BIM, drones, and augmented reality are transforming how construction projects are planned, designed, and executed, improving precision, productivity, and security in the sector.

• Colombia imported $68.8 million worth of plastic building materials in 2022, ranking as the 43rd largest importer of this product globally. 

• The construction sector is increasingly prioritising sustainability. This entails utilising environmentally friendly materials, adopting green building practices, and implementing energy-efficient designs, to reduce the ecological footprint of construction projects.

The Colombia construction market growth can be attributed to increased government investments in development projects, the integration of cutting-edge technology in building construction, and the expansion of the tourism sector. Prominent corporations are making substantial investments in pioneering materials and technologies to facilitate the construction of high-rise buildings within the region.

The Colombian government is making significant investments in infrastructure development, consequently boosting the Colombia construction market share.  Over the next couple of years, Colombia intends to award PPPs (public-private partnerships), led by the ANI (National Infrastructure Agency), for constructing social infrastructure. A total of 13 projects, such as high-complexity hospitals, educational facilities, and water and sanitation initiatives, are included in the government's plan.

In recent years, the construction sector has witnessed a significant shift towards sustainability as a response to the growing concern for environmental conservation and the need to mitigate climate change. This shift is evident in various aspects of construction, including the use of eco-friendly materials and the adoption of green building practices. Moreover, the adoption of advanced tools like BIM (Building Information Modelling) is increasingly gaining traction in the construction sector, enabling enhanced collaboration between architects and contractors through digital representations of structures.

Market Segmentation

Colombia Construction Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by End Use

• Commercial

• Residential

• Industrial

• Education and Research

• Medical and Health

• Others

Competitive Landscape

The market participants are focusing on the adoption of sustainable construction practices and the integration of state-of-the-art technologies to gain a competitive edge in the market.

• Amarilo S.A.S. 

• Marval S.A. 

• CONSTRUCTORA CAPITAL BOGOTÁ S.A.S  

• Arquitectura Y Concreto S.A.S  

• Constructora Conconcreto S.A. 

• Yuma Concesionaria S. A. 

• Constructora Ariguaní S.A.S. 

• Construcciones El Cóndor S.A., 

• Jaramillo Mora Constructora S.A. 

• Prodesa Y Cia. S.A.  

• Others 

Key Highlights of the Report