FCC is the third-largest Spanish construction company worldwide, according to Deloitte’s Global Powers of Construction 2025. In line with the growth recorded by Spanish companies, FCC is climbing the global rankings. ACS retains tenth place. Acciona has moved up one place to 19th. Ferrovial has climbed two places to 39th. FCC is the Spanish company that has made the greatest leap forward, reaching 37th place in the global ranking. Sacyr is in 57th place, whilst OHLA has slipped to 76th.

The world’s top 100 listed companies in the construction sector achieved aggregate revenue of 1.972 trillion dollars in 2025, remaining virtually stable compared with the previous year (-0.4 per cent). However, behind this apparent stability lies a growing regional divergence: whilst China continues to see its relative weight decline due to the property market slowdown, Europe and North America are driving new investment linked to the energy transition, digitalisation and critical infrastructure.

In contrast to the global stagnation, the seven Spanish companies featured in the Top 100 recorded some of the highest growth rates in the world, with an aggregate increase in revenue of 17.1 per cent, reaching 112,529 million dollars compared with the 96,106 million recorded the previous year. For the first time, Spanish construction firms have surpassed the US$100,000 million turnover mark and have consolidated Spain’s position as the world’s fifth-largest country by revenue in the sector, behind only China, Japan, France and the United States.

The growth of Spanish companies was also reflected in the financial markets. Their aggregate market capitalisation rose by 68.5 per cent to $97,300 million, ranking among the largest increases recorded globally.

The sector continues to develop in a complex environment marked by geopolitical tensions, inflationary pressure, a shortage of skilled labour and volatility in material costs. However, structural factors such as urbanisation, the transition to low-carbon economies and the boom in digital infrastructure continue to underpin long-term demand.

Although the sector still faces challenges linked to the cost of finance, geopolitical tensions and a shortage of specialised talent, the major structural drivers of growth remain intact. Urbanisation, infrastructure modernisation, the energy transition and the rapid development of artificial intelligence will continue to drive global investment in construction over the coming years.

In this context, Spanish companies are in a particularly favourable position thanks to their high degree of internationalisation, their growing diversification and their leadership in high-growth sectors such as data centres, energy infrastructure and concession models.

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