Canada Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market France, 2023-2027

Canada Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market France, 2023-2027


Summary

The construction industry in Canada is expected to have shrunk by 1.7% in 2023, with the industry projected to contract further by 3.1% in 2024, owing to a weak economic outlook, falling building permits, high building construction prices, and continued weakness in the residential sector amid a tightening of monetary policy. According to Statistics Canada, the total value of building permits issued fell by 7.2% year-on-year (YoY) in the first ten months of 2023, owing to a 14.9% YoY fall in residential building permits issued. In another setback to the industry, in August 2023, Canada’s Alberta Province halted 118 renewable energy projects involving a total investment of CAD33 billion ($25.6 billion) until February 2024, to review renewable energy policies.

GlobalData expects the Canadian construction industry to rebound at an annual average rate of 2.2% during 2025-27, supported by developments in the energy, transport, industrial and residential sectors. In November 2023, the federal government launched the CAD1.5 billion ($1.2 billion) Critical Minerals Infrastructure Fund (CMIF), under which clean energy, electrification initiatives, as well as transportation projects will be supported for a period of seven years. Forecast-period growth in the industry will also be supported by investments in public housing projects, in line with the government’s target to improve housing supply in the country. In November 2023, the federal and provincial government of Quebec announced that they will each invest CAD900 million ($698.3 million) over the next four years to accelerate housing construction in Quebec; the funding will be provided as part of the CAD4 billion ($3.1 billion) Housing Accelerator Fund, that was launched in March 2023 to build 100,000 homes in Canada. According to the estimates of the Canada Mortgage and Housing Corporation (CMHC), the country needs to build an additional 3.5 million homes - on top of the current pace of building - by the end of this decade to retore affordability.

The report provides detailed market analysis, information and insights into the Canadian construction industry, including -
  • The Canadian construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Canadian construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope

This report provides a comprehensive analysis of the construction industry in Canada. It provides -
  • Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Canada, 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 GlobalData's 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 GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.


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
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
8 About GlobalData
9 Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Canada, Key Economic Indicators
Table 3: Canada, Commercial Construction Output by Project Type (Real % Change), 2018–27
Table 4: Canada, Top Commercial Construction Projects by Value
Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2018–27
Table 6: Canada, Top Industrial Construction Projects by Value
Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
Table 8: Canada, Top Infrastructure Construction Projects by Value
Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
Table 10: Canada, Top Energy and Utilities Construction Projects by Value
Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2018–27
Table 12: Canada, Top Institutional Construction Projects by Value
Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2018–27
Table 14: Canada, Top Residential Construction Projects by Value
Table 15: Canada, Key Contractors
Table 16: Canada, Key Consultants
Table 17: Canada, Construction Output Value (Real, $ Million)
Table 18: Canada, Construction Output Value (Nominal, CAD Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: North America, Construction Output (Real % Change), 2021–27
Figure 2: Canada, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
Figure 3: Canada, Risk Summary
Figure 4: Canada, Risk Regional Comparison
Figur

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