Dublin, July 30, 2024 (GLOBE NEWSWIRE) -- The "China 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.
The Chinese construction industry is expected to expand by 4% in real terms in 2024, supported by investment in infrastructure and energy projects.
The government announced its 2024 Budget in March 2024. The budget includes an expenditure of CNY28.6 trillion ($4 trillion) in 2024 - which is an increase of 3.8% compared with the 2023 Budget. In March 2024, the government announced it plans to invest CNY1.2 trillion ($173 billion) in transport infrastructure projects by the end of this year.
Furthermore, in March 2024, the Yangtze River Delta region government announced an investment of CNY140 billion ($19.6 billion) to develop 32 railway infrastructure projects in the region in 2024. In February 2024, the Shanghai government announced it plans to start work on 24 projects with a combined investment of CNY42.1 billion ($5.8 billion) in 2024.
The construction industry is expected to record an average annual growth rate of 3.9% between 2025 and 2028, supported by investment in the infrastructure and energy sectors, coupled with the government's plan to achieve net-zero emissions of greenhouse gases by 2060. Among the recent developments, in March 2024, the Chinese state-owned utility company the State Grid Corporation of China commenced the construction of a CNY27.9 billion ($3.9 billion) power transmission and storage project.
The project includes the construction of 1069km of ultra-high voltage power line from Shanxi to Hefei. Growth over the forecast period will also be supported by infrastructure projects as part of the 14th Five-Year Plan (FYP) (2021-2025). The plan has 20 quantitative targets under five categories: economic development; innovation; people's well-being; green development; and food and energy security.
In September 2023, the government announced it plans to develop 2,500km of high-speed railway lines and expand its total rail network by 50,000km by 2025. Furthermore, the National Development and Reform Commission (NDRC) and the Ministry of Transport's plan to construct 461,000km of highways by 2035 will also support the growth of the industry.
Scope
- This report provides a comprehensive analysis of the construction industry in China.
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in China, 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 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 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/3ob132
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