Philippines 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

Philippines 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 the Philippines is expected to grow by 16.0% to reach PHP 15,36,642 million in 2022.

Despite near-term challenges in certain construction sectors, medium to long term growth story in the Philippines remains intact. The construction industry in the Philippines 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 6.4% during 2022-2026. The construction output in the country is expected to reach PHP 21,80,854.1 million by 2026.

Increasing Government spending is expected to lead to a strong recovery in the Filipino construction industry

In 2021, the Philippine construction sector is expected to rebound strongly. ConsTrack360 expects a strong rebound in the sector is expected to be led by increased government spending on infrastructure projects.

In Q2 2021, the construction sector in the country increased by more than 25% year-on-year, consequently posting one of the highest growth quarters ever in the Philippines. With the construction sector at the center of the government's plans to revive the economy, ConsTrack360 expects the near-term outlook to remain strong for the Philippines' construction industry.

The government also increased its budget allocation for the Department of Public Works and Highways in the budget 2021. Notably, the allocation was increased by 61.3% to P695.7 billion. Moreover, the Department of Transportation budget also increased by 4.4% to P87.9 billion. ConsTrack360 expects the allocation for infrastructure projects to further increase in 2022, with P1.1805 trillion proposed for infrastructure and the build, build, build program. This will subsequently assist the growth of the construction industry as a whole from the short to medium-term perspective.

Notably, the government has approved 80% of its flagship projects under the build, build, build program, which is aimed at reviving the Covid-19 hit economy. Consequently, ConsTrack360 maintains a robust outlook for the construction sector in the Philippines from the short to medium-term perspective.

The majority of the infrastructure projects under the build, build, build program belongs to the transport sector

Of the 112 projects under the build, build, build program of the government, the majority are from the transport sector, with others focused on information and communication technology infrastructure, urban development, and water resources. Of these 112 projects, 51 are under construction or project implementation, 31 are under pre-construction status, whereas the others are pending approval.

According to ConsTrack360, rail and road infrastructure development is expected to be the key driver for the industry from the short to medium-term perspective. This will be further supported by a strong pipeline of construction projects across all transport sub-sectors, which is expanding rapidly. Moreover, the transport sector infrastructure construction projects are one of the most active in the country. One of the notable projects includes the construction activities of the South Commuter Railway Project (PNR Calamba). For the infrastructure project, the Asian Development Bank (ADB) has committed to providing US$1.75 billion in funding.

Growing demand for affordable housing is expected to continue in 2022

The growth in the affordable housing segment is expected to remain strong in 2022. Some of the factors that are expected to fuel the growth in the near term include the rise of hybrid working (percentage of people working from home and offices) in the mid-term. Alongside the rise in blended workforce, the completion of key infrastructure projects, which is expected to improve the connectivity between Metro Manila and neighboring areas, to further boost the demand for affordable housing units in the country over the next four to eight quarters.

This report from ConsTrack360 provides data and trend analyses on construction industry in the Philippines, 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 Philippines. KPIs covered include the following:
• Market size by value
• Market size by volume of construction
• Number of units
• Philippines 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)
• Philippines 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)
• Philippines 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)

• Philippines 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
• Philippines Industrial Green Building Construction Coverage: 10-year market size & forecast in value and volume (area and units)
• Philippines 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)
• Philippines 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
• Philippines 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)
• Philippines 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 Philippines.
• 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.