Canada Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update

Canada Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update

Report Description

According to ConsTrack360's Q4 2021 Global Construction Survey, construction industry in Canada is expected to grow by 8.8% to reach CAD 1,90,860 million in 2022.

Despite near-term challenges in certain construction sectors, medium to long term growth story in Canada remains intact. The construction industry in Canada is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 5.0% during 2022-2026. The construction output in the country is expected to reach CAD 2,32,243.2 million by 2026.

Low-interest rates, pent up savings, and economic expansion widened the Canadian construction market growth

In Canada, growth in the construction sector is driven by various factors, including low-interest rates, pent-up savings, and the general shift in consumption away from services to goods. The global pandemic slowed down the construction industry’s growth to some extent; however, the sector has jumped backed significantly in the last four quarters due to economic recovery. For instance,
• The value of building permits has jumped significantly while reaching a peak of more than US$10 billion in Q2 2021. Notably, the growth in the building activity is largely seen in three main sectors – residential, industrial, and commercial office expansion.

Residential: In Canada, there is a growth in the residential construction for all types of housing units, ranging from single-family houses to high-rise condominiums. ConsTrack360 also expects growth in rental apartment housing to accommodate the growing population in urban cities over the next four to eight quarters. Overall, ConsTrack360 expects robust growth in the residential construction sector from the short to medium-term perspective.

Industrial: On the other hand, growth in the industrial sector is driven by the low vacancy rates and the demand for physical goods. According to JLL Canada, more than 36 million square feet of industrial space are under construction as of December 2021. ConsTrack360 expects this to support the growth of the overall construction industry over the next four to eight quarters in the country.

Commercial: The amount of commercial building construction is also expected to further support the growth of the industry in Canada over the next four to eight quarters. Even at the time when the future of the workplace remains uncertain, there remain 19 million square feet of office space under construction across the country. Overall, ConsTrack360 expects positive growth in the Canadian construction industry from the short to medium-term perspective.

Large Infrastructure construction projects are expected to boost the industry’s growth in Canada

The Canadian Government is expected to invest heavily in transit projects over the next few quarters. Notably, transit projects are dominating the list of public sector infrastructure projects that are currently underway in 2021. For instance,
• GO Expansion – On Corridor project is one of the largest infrastructure projects planned in the country. The construction project includes rehabilitation and renewal of the railway transit corridor and civil infrastructure. With a total investment of US$15.705 billion, the completion date of the construction project is expected to be 2025.
• Some of the other transit projects undertaken in the country, such as Ontario Line (US$10.9 billion), Réseau Express Metropolitan (REM) (US$6.32 billion), and Hurontario LRT (US$5.632 billion), are expected to support the growth of the construction industry in Canada from the short to medium-term perspective.
• Apart from these transit infrastructure projects, construction activities of the US$12.8 billion refurbishment project at Darlington Nuclear Generating Station and the US$10.7 billion worth of construction of the Site C Clean Energy Project are also expected to provide support for the growth of the construction industry in Canada over the next four to eight quarters.

ConsTrack360 expects the growing investment in infrastructure construction projects to keep supporting the growth of the overall industry in Canada from the short to medium-term perspective.

This report from ConsTrack360 provides data and trend analyses on construction industry in Canada, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.

Scope
• Market Data and Insights: This report provides market size and forecast across 40+ construction segments for a period of 10 years from 2016-2025 in Canada. KPIs covered include the following:
• Market size by value
• Market size by volume of construction
• Number of units
• Canada 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)
• Canada 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)
• Canada 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
• Construction stage (new construction, re-development & maintenance)

• Canada 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
• Canada Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
• Canada Institutional Building Construction Coverage: 10-year market size & forecast in value and volume (area and units) terms by
• Healthcare construction
• Educational construction
• Public sector
• Construction stage (new construction, re-development & maintenance)
• Canada 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
• Canada 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)
• Canada Green Infrastructure Construction: 10- year market size & forecast in value terms

Reasons to buy
• In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of building and infrastructure construction industry in Canada.
• Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
• City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.