Canada Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units), 40+ Market Segments Across Residential, Commercial, Industrial, Institutional, Infrastructure Construction, City Level Construction by Value and Co

Canada Construction Industry Databook Series – Market Size & Forecast by Value and Volume (area and units), 40+ Market Segments Across Residential, Commercial, Industrial, Institutional, Infrastructure Construction, City Level Construction by Value and Construction Cost Structure, Q2 2024 Update

According to ConsTrack360, the construction industry in Canada is expected to grow by 3.9% to reach CAD 222,112 million in 2024.

Despite near-term challenges in certain construction sectors, Canada'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 3.7% is projected during 2024-2028, with the country's construction output expected to reach CAD 256,420.8 million by 2028, indicating substantial growth potential.

The Canadian construction industry is at a pivotal moment, characterized by cautious growth, evolving market demands, and significant challenges. As the sector adapts to economic fluctuations and embraces technological advancements, stakeholders must proactively address labour shortages and promote sustainable practices. By leveraging government initiatives and focusing on innovation, executives can position their organizations for success in this dynamic landscape.

Key Trends and Developments

• Cautious Growth Amid Economic Challenges: The construction sector in Canada is projected to experience slow growth in 2024, driven by infrastructure investments and a rebound in commercial construction. However, high interest rates and inflation are tempering investor sentiment, leading to a contraction in the residential sector.
• Labour Shortages and Skills Gap: The industry faces significant labour shortages, exacerbated by an aging workforce and insufficient new entrants. This shortage impacts project timelines and costs, necessitating a focus on recruitment and retention strategies to attract diverse talent.
• Increased Focus on Sustainability: There is a growing emphasis on sustainable building practices and green technologies. The federal government has committed $6 billion to the Canada Housing Infrastructure Fund to address housing shortages and promote environmentally friendly construction methods.
• Technological Advancements: Adopting digital tools, artificial intelligence (AI), and data analytics transforms construction processes. Companies are increasingly utilizing AI for risk management and project efficiency, which is expected to enhance productivity and reduce costs.

Residential Construction: Navigating Contractions and Opportunities

• Government Initiatives to Address Housing Shortages: The federal government’s investment in affordable housing projects is crucial for meeting the growing demand. Initiatives to increase the supply of new homes and retrofit existing structures are expected to support long-term growth in this sector.

Commercial Construction: Recovery and Growth

• Positive Outlook for Commercial Projects: The commercial construction sector is poised for recovery, with a projected increase in building activity as the economy stabilizes. Major investments in office spaces, retail, and mixed-use developments are expected to drive growth in urban centers.
• Impact of Changing Work Dynamics: The shift towards hybrid work models is influencing the design and functionality of commercial spaces. Developers focus on creating flexible environments catering to evolving business needs and employee preferences.

Institutional Construction: Focusing on Public Needs

• Investment in Healthcare and Education: The institutional construction segment is experiencing growth driven by significant investments in healthcare and educational facilities. The Canadian government is prioritizing infrastructure projects that enhance public services, focusing on modernizing existing institutions.
• Sustainability in Institutional Projects: New institutional projects increasingly incorporate sustainable design principles, aligning with national environmental responsibility and energy efficiency goals. This trend is essential for future-proofing public infrastructure against climate change impacts.

Industrial Construction: Strengthening Economic Foundations

• Growth in Manufacturing and Logistics: The industrial construction sector is growing due to increased demand for manufacturing facilities and logistics centers. Investments in these areas are essential for supporting the supply chain and enhancing economic resilience.
• Focus on Renewable Energy Projects: There has been a notable increase in construction activity related to renewable energy projects, driven by government initiatives to reduce carbon emissions and promote sustainable energy sources. This trend will continue as Canada seeks to meet its climate targets.

Infrastructure Construction: The Backbone of Development

• Major Infrastructure Investments: The Canadian government invests heavily in infrastructure projects, including transportation, utilities, and public transit systems. A notable project is the addition of 1,000 km of new rail track for high-speed rail services between major cities, which is expected to advance in summer 2024.
• Long-Term Infrastructure Planning: The focus on long-term infrastructure planning is critical for addressing population growth and urbanization challenges. Continued investment in public infrastructure is essential for enhancing connectivity and supporting economic development across regions.

This market intelligence report from ConsTrack360 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 Canada, this databook provides a wealth of data-centric analysis with charts and tables, ensuring stakeholders are fully informed.

• Market Dynamics by Value, Volume, and Number of Units: This report provides a comprehensive data-centric view of size and structure, industry dynamics, and end market opportunities in Canada's building and infrastructure construction industry.

• The report provides a detailed analysis of the residential construction market, covering various types of construction, development stages, price points, and key cities. KPIs include value, volume, and number of units, offering a comprehensive view of this sector.

• Commercial Construction Outlook: Provides construction outlook by value and volume across office buildings, retail buildings, hospitality buildings, restaurant buildings, and sports facilities.

• Institutional Construction Outlook: Provides construction outlook by value and volume across manufacturing plant buildings, metal & material processing buildings, and chemical & pharmaceutical buildings.

• Industrial Construction Outlook: Provides construction outlook by value and volume across manufacturing plants and educational buildings.

• Infrastructure Construction Outlook: This report provides growth dynamics and market analysis for three key sections: marine and inland, utility system and transport infrastructure construction.

• City Level Analysis: Provides outlook of the top 10 cities in Canada by construction value.

• The Construction Cost Structure Analysis module in this report provides a detailed outlook on construction costs by construction value, such as material, labor, equipment, and others. At a granular level, it offers a comprehensive material cost analysis by type of materials and labor cost by type of work, ensuring stakeholders deeply understand the cost structure.

Scope

• Market Data and Insights: This report provides market size and forecast across 40+ construction segments for ten years from 2019 – 2028 in Canada. KPIs covered include the following:
• Market size by value
• Market size by volume of construction
• Number of units

• Canada Economic Indicators

• Canada Top Cities Construction Data

• 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
• Other commercial building construction
• 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)
• Manufacturing Plants building construction
• Chemical & Pharmaceutical building construction
• Metal & Material Processing building construction
• Construction stage (new construction, re-development & maintenance)

• Canada 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)

• 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

• Canada 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)

Reasons to buy

• Comprehensive Insight into Construction Market Dynamics: Gain a deep understanding of the construction market, including opportunities, industry trends, and key drivers across over 40+ market segments and sub-segments.

• Detailed Analysis of Construction Costs: Explore construction costs broken down by type, including material and labor costs. The report provides detailed information on costs by construction type and worker.

• Top Ten Cities Construction Value: Access valuable data on the construction market size for major cities, focusing on key city-level sectors.

• In-Depth Volume and Value Data: Obtain a thorough understanding of the market from both value and volume perspectives, covering historical data and forecasts by activity and units.

• Strategic Market-Specific Insights: Formulate targeted strategies by identifying growth segments and opportunities and assessing key trends, drivers, and risks within the construction industry.

• City-Level Trend Analysis: Get detailed trend analyses for tier-1, tier-2, and tier-3 cities, offering actionable insights for urban-focused strategies.