Dublin, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The "China Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The construction industry in China is expected to grow by 7.4% to reach CNY 9.13 trillion in 2024.
This market intelligence report offers a comprehensive view of market opportunities in the building and infrastructure construction industry at the country level. With over 100+ KPIs covering growth dynamics in building and infrastructure construction, construction cost structure analysis, and analysis by key cities in China, this databook provides a wealth of data-centric analysis with charts and tables, ensuring stakeholders are fully informed.
Despite near-term challenges in certain construction sectors, China's construction industry is poised for significant growth. The industry is expected to grow steadily over the next four quarters, with the growth momentum continuing over the forecast period. A CAGR of 6.4% is projected during 2024-2028, with the country's construction output expected to reach CNY 11.72 trillion by 2028, indicating substantial growth potential.
The construction industry in China is navigating a complex landscape characterized by challenges and opportunities. While the residential sector faces immediate difficulties, the long-term outlook for infrastructure, commercial, institutional, and industrial construction remains positive. To capitalize on the evolving market dynamics, senior executives should align their strategies with government initiatives, particularly in green development and infrastructure investment. By understanding these trends, stakeholders can better position themselves to thrive in China's construction sector.
The construction industry in China is a critical component of the nation's economy, reflecting its rapid urbanization and ongoing infrastructure development.
- Government Investment in Infrastructure: The Chinese government plans to invest CNY 1.2 trillion (approximately USD 173 billion) in transport infrastructure projects by the end of 2024. This investment is part of a broader budget of CNY 28.6 trillion (USD 4 trillion) for 2024, which emphasizes infrastructure as a key driver of economic growth.
- Focus on Green Development: China is increasingly focusing on green construction practices as part of its commitment to achieving net-zero emissions by 2060. This includes promoting green buildings and sustainable urban development, essential to new projects.
Advancing Residential Construction
- Market Challenges and Recovery: The residential construction sector is facing significant challenges due to the ongoing real estate crisis, which has resulted in declining home prices and reduced buyer confidence. However, the long-term demand for housing remains strong, driven by urbanization and rising household incomes. The sector is expected to recover as government policies stabilize the property market.
- Affordable Housing Initiatives: The government prioritizes affordable housing projects to accommodate the growing urban population. This initiative is crucial for addressing housing shortages in major cities and is expected to stimulate demand in the residential construction sector.
Expanding Commercial Construction Opportunities
- Growth in Commercial Sectors: The commercial construction sector is projected to grow as investment in office buildings, retail spaces, and hospitality facilities increases. Expected consumer spending and tourism recovery are expected to drive demand for new commercial projects.
- Public-Private Partnerships (PPPs): The Chinese government is increasingly utilizing PPPs to fund commercial construction projects. This approach is expected to enhance the efficiency and quality of commercial developments while attracting private investment.
Strengthening Institutional Construction
- Investment in Healthcare and Education: Increased government spending on healthcare and educational facilities will benefit the institutional construction sector. The aging population and rising demand for quality education drive the need for new institutional projects.
- Focus on Green Institutional Buildings: There is a growing emphasis on constructing green buildings within the institutional sector. This trend aligns with national sustainability goals and is expected to create opportunities for innovative construction practices and technologies.
Enhancing Industrial Construction
- Resilience in Industrial Projects: The industrial construction sector remains robust, particularly in manufacturing and energy-related projects. The ongoing expansion of the LNG production capacity and investments in renewable energy infrastructure are expected to drive growth in this segment.
- Diversification Efforts: The Chinese government promotes diversification within the industrial sector, encouraging investments in high-tech manufacturing and green technologies. This shift is expected to enhance the competitiveness of the industrial construction market.
Developing Infrastructure Construction
- Major Infrastructure Investments: Infrastructure construction is a cornerstone of China's economic strategy. The country plans to develop extensive transport networks, including 2,500 km of high-speed rail and 461,000 km of highways. These projects are critical for enhancing connectivity and supporting economic growth.
- Sustainable Infrastructure Initiatives: The government increasingly focuses on sustainable infrastructure development, integrating green technologies into new projects. This approach is expected to reduce environmental impact and promote long-term sustainability within the construction sector.
Scope
Market Data and Insights
- Market size by value
- Market size by volume of construction
- Number of units
China Economic Indicators
China Top Cities Construction Data
China Residential Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Housing type (multi family, single family)
- Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Price point/income level (luxury, mid-tier, affordable)
- Construction stage (new construction, re-development & maintenance)
China Residential Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Green building by Housing type (multi family, single family)
- Green building by Key cities (Tier - 1, Tier - 2, Tier - 3 segmentation)
- Green building by Price point/income level (luxury, mid-tier, affordable)
China Commercial Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Office (further broken down by Grade A, Grade B, and Grade C)
- Retail (further broken down by Grade A, Grade B, and Grade C)
- Hospitality (further broken down by Grade A, Grade B, and Grade C)
- Restaurant (further broken down by Grade A, Grade B, and Grade C)
- Entertainment
- Sports facility
- Other commercial building construction
- Construction stage (new construction, re-development & maintenance)
China Commercial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Office green building construction
- Retail green building construction
- Hospitality green building construction
- Restaurant green building construction
- Entertainment green building construction
- Sports facility green building construction
- Other commercial green building construction
China Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
- Manufacturing Plants building construction
- Chemical & Pharmaceutical building construction
- Metal & Material Processing building construction
- Construction stage (new construction, re-development & maintenance)
China Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Healthcare construction
- Educational construction
- Other building construction
- Construction stage (new construction, re-development & maintenance)
China Institutional Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
- Healthcare green building construction
- Educational green building construction
China Infrastructure Construction Sectors: 10-year market size & forecast in value terms by
- Marine and inland water infrastructure
- Utility system construction (oil and gas infrastructure, communication infrastructure, power infrastructure, water and sewer infrastructure)
- Transportation infrastructure (highway, street and bridge construction, railway construction, airport construction, and tunnel construction)
- Construction stage (new construction, re-development & maintenance)
China Green Infrastructure Construction: 10-year market size & forecast in value terms
China Construction Cost Structure Analysis: 10-year market size & forecast in value terms
- Cost Analysis by Type (Material, Labour, Equipment, Others)
- By Material & Work Cost: It provides the cost outlook of material costs by type of materials used in construction (Cement, Steel, Sand, Aggregates, Bricks, Wood, Windows Glazing, Flooring, Plumbing, Electrical, Painting, Other Materials)
- By Labour Cost: It provides the cost outlook of labour costs (RCC Construction Work, Masonry and Plastering Work, Plumbing Work, Water Proofing Work, Carpentry Work, Electrical Work, Tile Fixing Work, CATV Antenna Points, Painting Work, Departmental Labour)
- By Type of Construction (New, Re-Development)
- By Material Cost: It provides the cost outlook of material costs by type of materials used in construction (Concreting Sand, Stone Aggregate, Ordinary Portland Cement, Reinforced Concrete (Grade 30 MPA), Reinforced Concrete (Grade 40 MPA), High Tensile Steel bars, Mild Steel Round Bars, Structural Steelwork, Plywood Formwork (1800*900*12mm), Clay Bricks)
- Type of Labour (Skilled vs. unskilled)
For more information about this report visit https://www.researchandmarkets.com/r/fkry6d
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
