Published on 17th August 2023
Construction is the process of planning, designing, and constructing infrastructure and buildings in Spain. It involves the use of a range of materials, methods, and technologies to create a variety of structures, including roads, bridges, tunnels, dams, airports, and buildings.
The Spain construction market size was EUR 157.5 billion in 2022. The market is projected to achieve an AAGR of more than 2% between 2024 and 2027. The output of the construction industry in Spain during this period will be supported by investments in energy (including green energy) sectors, civil infrastructure projects, housing, commercial, and industrial sectors.
According to the latest data published by the Ministry of Public Works, construction costs in buildings, including labor and material consumption, have grown at an annual rate of over 14%. New non-residential construction, which includes office, industrial, and other building types, has climbed by 21%, a significant gain over the residential sector's growth of 10.6%. Building renovations, which include work on both residential and non-residential structures, rose by 12.8%.
This article analyses the top players in the Spanish construction industry with a key role in driving the market forward. Out of the top 20 construction companies in Spain, the top 7 players account for more than 50% of the market share.
Here are the top 7 construction companies in Spain with dominant market positions and a significant operational presence in not only Spain but also in the European Union.
(Revenue includes turnover from all the subsidiaries as well as the parent company)
|
Rank |
Company |
No of Employees |
2022 Revenue (EUR Billion) |
2021 Revenue (EUR Billion) |
Headquarter |
M-Cap (Billion EUR) |
|
1 |
ACS SA |
126,786 |
33.61 |
27.83 |
Madrid, Spain |
26.47 |
|
2 |
Acciona SA |
45,892 |
11.19 |
8.1 |
Madrid, Spain |
16.92 |
|
3 |
FCC SA |
64,000 |
7.71 |
6.65 |
Barcelona, Spain |
15.77 |
|
4 |
Ferrovial SA |
24,191 |
7.55 |
6.91 |
Madrid, Spain |
10.49 |
|
5 |
Técnicas Reunidas SA |
6,500 |
4.23 |
2.81 |
Madrid, Spain |
5.24 |
|
6 |
Elecnor SA |
22,000 |
3.61 |
3.12 |
Madrid, Spain |
3.49 |
|
7 |
Obrascón Huarte Lain SA |
4,154 |
0.738 |
0.593 |
Madrid, Spain |
1.44 |
ACS SA, also known as Actividades de Construcción y Servicios SA, is a Spanish multinational construction and civil engineering company. It was founded in 1997 and is headquartered in Madrid, Spain. ACS SA is one of the leading EPC companies in Europe that operates worldwide.
The company's main business areas include construction, civil engineering, environmental services, and renewable energy. ACS SA has completed several large-scale projects, such as the construction of the Torre Cepsa building in Madrid, the expansion of the Panama Canal, and the design and construction of a high-speed railway network in Saudi Arabia.
ACS SA's financial performance has been generally strong, with increasing revenues over the past few years. However, like many companies in the construction industry, it has also faced some challenges such as project delays and cost overruns. Nonetheless, the company has continued to pursue growth opportunities and expand its business operations globally.
Also Read: List of Top 7 UK Construction Companies
ACCIONA Construcción SA is a Spanish construction company that specializes in large infrastructure projects such as highways, airports, and water treatment plants. The company was founded in 1997 and is headquartered in Madrid, Spain. It is a subsidiary of the larger ACCIONA Group, which is a global leader in sustainable solutions for infrastructure and renewable energy.
ACCIONA Construcción SA has a strong market position in Spain and has successfully expanded its operations to other countries, particularly in Latin America. The company has been involved in several high-profile projects, including the construction of the LBJ Expressway in Texas, USA, and the expansion of the Panama Canal.
The company has also shown a strong commitment to sustainability, which has helped to differentiate it from competitors. For example, it has implemented sustainable construction practices in its projects, such as using renewable energy sources and recycled materials, and has received several awards and certifications for its efforts.
FCC Construccion SA is a Spanish construction company with a long history and significant global presence. The company was founded in 1993 as a subsidiary of Fomento de Construcciones y Contratas (FCC), one of Spain's largest construction and services groups. Since then, FCC Construccion has established itself as a leading player in the construction industry, with operations in Europe, North America, Africa, and the Middle East.
One of FCC Construccion's key strengths is its broad range of capabilities, which allows it to undertake projects across a variety of sectors, including infrastructure, buildings, energy, and environmental services. The company has a strong track record of delivering large and complex projects, such as airports, highways, railways, and industrial plants, and has built up a solid reputation for quality and reliability. This has enabled FCC Construccion to win contracts in some of the world's most challenging environments, including in the Arctic Circle and the Sahara Desert.
FCC Construccion's international operations are a significant source of revenue for the company, accounting for around two-thirds of its total sales. The company has a particularly strong presence in Latin America, where it has been involved in some of the region's largest infrastructure projects. However, FCC Construccion has also faced challenges in some of its international markets, particularly in the Middle East, where it has been affected by political instability and delays in project execution.
Also Read: List of Top 7 German Construction Companies
Ferrovial Construcción SA is a Spanish multinational infrastructure company that specializes in the design, construction, operation, and maintenance of transportation infrastructure, such as highways, airports, and railways, as well as buildings and other civil works. The company was founded in 1952 and is headquartered in Madrid, Spain.
Ferrovial Construcción SA is a major player in the global infrastructure market, with a strong presence in Europe, the Americas, and Australia. The company has completed numerous high-profile infrastructure projects, such as the construction of the Denver International Airport in Colorado, the Heathrow Airport Terminal 2 in London, and the Almonte Viaduct in Spain.
The company's expertise in the design and construction of transportation infrastructure has positioned it as a leader in the industry. Ferrovial Construcción SA has also expanded into the area of sustainability, with a focus on reducing the environmental impact of its projects through the use of renewable energy and sustainable building practices.
Técnicas Reunidas SA is a prominent Spanish engineering and construction company with a strong global presence. Headquartered in Madrid, Spain, Técnicas Reunidas has established itself as a leader in the field of complex industrial projects, delivering innovative solutions across various sectors.
Founded in 1960, the company has amassed decades of experience and expertise in providing engineering, procurement, and construction services for a wide range of industries. Técnicas Reunidas is known for its capabilities in designing and executing intricate projects, particularly in the energy, oil and gas, petrochemical, and industrial sectors.
Técnicas Reunidas' reputation extends beyond Spain, as the company has successfully executed projects in numerous countries around the world. Its international reach is supported by a diverse and skilled workforce that brings together expertise from various disciplines, enabling the company to adapt to different markets and regulatory environments.
Elecnor SA is another important Spanish EPC company that features in the list of top 10 construction companies in Spain. With its headquarters in Madrid, Spain, Elecnor boasts a diverse range of services encompassing various sectors of the industry. Established in 1958, the company has amassed decades of experience and expertise, solidifying its position as a key player in the engineering and construction landscape.
Elecnor's operations span a wide spectrum, including energy, infrastructure, and technology projects. The company is renowned for its capabilities in designing, developing, and executing complex engineering projects that contribute to the advancement of modern society. Its projects encompass energy generation and transmission, transportation systems, renewable energy initiatives, telecommunications networks, and more.
Elecnor's international presence is robust, with a footprint that extends to various countries around the world. Its global reach is supported by a team of skilled professionals who bring diverse expertise to the table. The company's ability to adapt to different markets and regulatory environments has enabled it to successfully execute projects on a global scale.
Also Read: List of Top 7 French Construction Companies
Obrascón Huarte Lain SA or OHL SA is a spanish Engineering Procurement and Construction company based in Madrid, Spain. The company's roots stretch back to May 1911 with the foundation of Sociedad General de Obras y Construcciones Obrascón, S.A. in Bilbao.
The company’s first project was the construction of two wharves in the Port of Lisbon. The company grew over the decades, being acquired first by the Banco de Bilbao in 1953 and then by Altos Hornos de Vizcaya 20 years later.
During the late 1980s, Obrascón encountered financial challenges that led to its precarious situation. However, in 1987, Juan Miguel Villar Mir stepped in and acquired the company from bankruptcy for a mere penny. Remarkably, Villar Mir, who continues to serve as the company's chairman to this day, orchestrated a remarkable turnaround for the company. This transformation paved the way for Obrascón's listing on the Bolsa de Madrid in 1991.
In 1998, Obrascón underwent a significant merger with its larger yet struggling counterpart, Huarte. Huarte, a prominent construction firm with origins tracing back to Pamplona in 1927, joined forces with Obrascón. The subsequent year witnessed yet another merger, this time with Construcciones Lain. The latter was initially established as the Spanish division of John Laing Construction in 1963. This strategic amalgamation culminated in the formation of the present-day entity, the Obrascón Huarte Lain group.
Here are some top construction companies in Spain that can feature in the list of the largest Spanish construction companies.
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