Latin America Infrastructure Sector Report 2023-2024

Brazil's infrastructure sector has a diverse landscape. While some transport infrastructure sub-sectors, such as road infrastructure, are still dominated by the federal and state governments, others such as the railways have a large participation from the private sector. The airport and port infrastructure underwent a privatisation wave in recent years, but the federal government still plays an important role through state-run companies. Public investment in the transport infrastructure sector continued its downward trend in 2022, falling by 1.7% y/y to BRL 9bn. This was despite an 11.7% y/y increase in public spending in the road infrastructure segment, which accounts for the bulk of public investments, receiving BRL 6.4bn in 2022. This increase was more than offset by a sharp decline in public investments across all other segments, especially in ports and waterways, in which investments totalled BRL 197.2mn, down by 66.1% y/y to its lowest value on record. Railway infrastructure experienced a 16.6% y/y decrease in public investments, with BRL 334.5mn disbursed by the federal government during 2022, while airport infrastructure received public investments of BRL 2bn in the same year, down by 15.8% y/y. In line with this, the share of total public investments devoted to the roadways segment increased from 63.1% in 2021 to 71.7% in 2022, while airports, railways, and ports and waterways saw their shares reduced to 22.3%, 3.7% and 2.2%, respectively. The sector has experienced a downward trend in public investments since the introduction of the federal government's spending cap in 2016 amid a high fiscal deficit and mounting indebtedness. Energy infrastructure is divided between public and private players. Eletrobras, the country's power generation and transmission leader, is partially privatised, while state-owned Petrobras plays a fundamental role in the country's energy infrastructure, as most of Brazil's refining capacity and oil pipeline infrastructure is owned by the company. Nonetheless, in 2022, the private sector played a key role in power generation infrastructure investment, and in particular in the wind power segment. In 2022, several wind power projects reached financial closure, including Novo Horizonte Wind Complex (423 MW), Lagos dos Ventos V (399 MW), Serra do Assurua (288 MW) and Oeste Serido (288 MW).

This report provides a complete and detailed analysis of the "Real estate and construction" sector for South America. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Real estate and construction" sector in South America
• Crystallise the forces both driving and restraining this sector in South America
• Ascertain South America’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in South America.
• Build a clear picture of trends, output and consumption for specific sub-sectors