India Construction Industry Research Report 2024-2033

India Construction Industry Research Report 2024-2033

The construction industry encompasses a wide range of activities, including planning, design, and execution, aimed at creating various physical structures such as buildings, infrastructure, and more. It involves the collaboration of professionals such as architects, engineers, contractors, and workers to complete projects ranging from residential and commercial buildings to roads, bridges, and utilities. Despite the diversity of projects, they all contribute to the improvement and development of communities and infrastructure.

In any country, the construction industry is significant, serving as a pillar of the economy while having a direct impact on the quality of life and urban landscape. According to CRI, the industry's prosperity often reflects the nation's economic health and stage of development. In addition, its growth influences other sectors such as real estate, manufacturing, and finance, and thus has an impact on the broader economy. Therefore, the construction industry typically occupies a prominent position and exerts considerable influence within a country.

India's construction industry is experiencing a remarkable surge, fueled by the government's emphasis on infrastructure development, increased foreign investment, rapid urbanization, and the sector's own expansion. The momentum is further supported by Budget 2023, which prioritized the construction sector with a substantial allocation of nearly Rs. 10 trillion (US$ 120.5 billion) for infrastructure. In addition, the government's simplification of GST aims to strengthen the real estate sector, making it more resilient and accessible. 

CRI forecasts significant growth in the construction sector in 2023, primarily driven by government investments aimed at completing large infrastructure projects before the 2024 elections. In addition, investments in power, transportation, and housing projects are expected to further stimulate industry expansion in the following years. Moreover, the focus on investments in the renewable energy sector is in line with the government's target to increase renewable energy capacity by 2030, promising additional growth opportunities for the sector.

Foreign direct investment (FDI) is another key growth driver, with the government's liberalization policy allowing 100% FDI in almost all construction sectors. This move has made real estate the third largest sector for FDI inflows. Notably, between April 2000 and September 2022, India's construction sector attracted $26 billion in FDI for development purposes, with an additional $29 billion going into construction activities. 

According to CRI, the market size of India's construction industry is estimated to be around $778 billion in 2023. It is projected to grow at a compound annual growth rate of 6% from 2024 to 2033, reaching US$ 1.393 trillion in 2033.

Topics covered:

• India Construction Industry Overview
• The economic and policy environment of the construction industry in India
• India construction industry market size, 2024-2033
• Analysis of major India construction industry manufacturers
• Key Drivers and Market Opportunities in India's Construction Industry
• What are the key drivers, challenges and opportunities for the construction industry in India during the forecast period 2024-2033?
• Which companies are the key players in the India construction industry market and what are their competitive advantages?
• What is the expected revenue of India construction industry market during the forecast period of 2024-2033?
• What are the strategies adopted by the key players in the market to increase their market share in the industry?
• Which segment of the India construction industry market is expected to dominate the market in 2032?
• What are the main negative factors facing the construction industry in India?