Dublin, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The "Malaysia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028" report has been added to ResearchAndMarkets.com's offering.
Malaysian construction industry to grow by 7.4% in real terms in 2024, supported by an increase in public and private investment in the country coupled with an ongoing works on the development of several infrastructure and energy projects.
According to the Department of Statistics Malaysia (DOSM), construction industry value add grew by 11.9% year on year (YoY) in Q1 2024, preceded by Y-o-Y growth of 3.6% in Q4 2023. According to the Malaysian Investment Development Authority (MIDA), the government approved 5,101 investment projects totaling MYR329.5 billion ($75.1 billion) in 2023, which is 23% up from the number recorded in 2022.
The construction industry's growth in 2024 will also be supported by works funded by Malaysia's largest ever government budget of MYR393.8 billion ($89.8 billion). Of the total, MYR97.6 billion ($22.2 billion) will be allocated to support tourism activities, while MYR58.7 billion ($13.4 billion) will be allocated to the Education Ministry, with MYR16.3 billion ($3.7 billion) to the Higher Education Ministry and MYR1.9 billion ($433.1 million) for school upgrades and maintenance; additionally MYR41.2 billion ($9.4 billion) will go towards the Health Ministry.
Malaysia's construction industry is expected to register an annual average growth rate of 5.6% during 2025-28, supported by investment in large-scale transport, manufacturing facilities, and renewable energy projects. According to the National Energy Transition Roadmap (NETR), which was announced in August 2023, the government is aiming to increase the proportion of renewable energy in the total energy mix from 2% in 2019 to 31% by 2025.
To attain this objective, as part of the government's "Energy Transition Plan" unveiled in June 2021, UAE based renewables developer Masdar signed a memorandum of understanding (MoU) with the Malaysian Investment Development Authority (MIDA) in October 2023 to invest MYR35.1 billion ($8 billion) to generate 10GW of renewable energy projects by 2035 in Malaysia.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Malaysia, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/re6n9c
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