Canada Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)
Summary
GlobalData’s Construction in Canada - Key Trends and Opportunities to 2028 (Q2 2024) 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.
GlobalData expects the Canadian construction industry to rebound at an annual average rate of 2.4% during 2025-28, supported by developments in the renewable energy, transport, and industrial sectors, coupled with the government’s focus on curbing housing deficit by the construction of 5.8 million new affordable houses by 2030. In April 2024, the Prime Minister launched a CAD6 billion ($4.4 billion) Canada Housing Infrastructure Fund as part of its target of building 750,000 new homes by 2033, as part of the Housing Accelerator Fund. In addition, growth over the forecast period will also be supported by the government’s plan to achieve carbon neutrality by 2050. In March 2024, Scottish offshore wind services company, Venterra Group, won a contract from the Government of Nova Scotia to conduct the feasibility study for the development of a 5GW offshore wind farm by 2030 in the province, which involves an estimated investment of CAD13.3 billion ($10 billion).
Scope
This report provides a comprehensive analysis of the construction industry in Canada. It provides -
- Historical (2019-2023) and forecast (2024-2028) 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
- 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
- About GlobalData
- 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), 2019-28
- Table 4: Canada, Top Commercial Construction Projects by Value
- Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2019-28
- Table 6: Canada, Top Industrial Construction Projects by Value
- Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
- Table 8: Canada, Top Infrastructure Construction Projects by Value
- Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
- Table 10: Canada, Top Energy and Utilities Construction Projects by Value
- Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2019-28
- Table 12: Canada, Top Institutional Construction Projects by Value
- Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2019-28
- 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), 2022-28
- Figure 2: Canada, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
- Figure 3: Canada, Risk Summary
- Figure 4: Canada, Risk Regional Comparison
- Figure 5: Canada, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
- Figure 6: Canada, Construction Output Value, by Sector (Real, $ Million), 2019-28
- Figure 7: Canada, Construction Value-Add (CAD Million, 2012 Constant Prices), Quarterly Average, Seasonally Adjusted at Annual Rates
- Figure 8: Canada, Investment in Building Construction (CAD Million, Seasonally Adjusted Constant Prices)
- Figure 9: Canada, Value of Building Permits Issued, in Seasonally Adjusted Constant Prices, % Change YoY
- Figure 10: Canada, Building Construction Prices Indices, 2017=100, % Change (YoY)
- Figure 11: Canada, Construction Employment, In Thousands, In Seasonally Adjusted Terms
- Figure 12: Canada, Construction Projects Momentum Index
- Figure 13: North America, Construction Projects Momentum Index
- Figure 14: Canada, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
- Figure 15: Canada, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: Canada, Investment on Commercial Building Construction (CAD Million, Seasonally Adjusted Constant Prices)
- Figure 17: Canada, Value of Building Permits Issued for Commercial Buildings (CAD Million, Seasonally Adjusted Terms)
- Figure 18: Canada, Number of Non-Resident Visitors Entering the Country, In Thousands
- Figure 19: Canada, Retail Trade Sales (CAD Million)
- Figure 20: Canada, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
- Figure 21: Canada, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: Canada, Manufacturing Value add, Quarterly Average Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)
- Figure 23: Canada, Investment on Industrial Building Construction (CAD Million, Seasonally Adjusted Constant Prices)
- Figure 24: Canada, Value of Building Permits Issued for Industrial Buildings (CAD Million, Seasonally Adjusted Terms)
- Figure 25: Canada, Sales Value of Goods Manufactured and New Orders of Manufacturing (CAD Million)
- Figure 26: Canada, Merchandise Exports (CAD Million)
- Figure 27: Canada, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
- Figure 28: Canada, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: Canada, Value-add of Civil Engineering and Other Construction Activities, Quarterly Average, Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)
- Figure 30: Canada, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
- Figure 31: Canada, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: Canada, Capital Expenditure in the Oil and Gas Extraction Industries (CAD Million, In Seasonally Adjusted Terms)
- Figure 33: Canada, Electric Power Generation, In GWh
- Figure 34: Canada, Production of Crude Oil and Other Equivalent Products, YoY % Change
- Figure 35: Canada, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
- Figure 36: Canada, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 37: Canada, Investment on Institutional Building Construction (CAD Million, In Seasonally Adjusted Terms)
- Figure 38: Canada, Institutional Building Permits Issued (CAD Million, Seasonally Adjusted Terms)
- Figure 39: Canada, Residential Construction Output by Project Type (Real, $ Million), 2019-28
- Figure 40: Canada, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 41: Canada, Value-add of Residential Building, Quarterly Average, Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)
- Figure 42: Canada, Investment on Residential Building Construction (CAD Million, Seasonally Adjusted Terms)
- Figure 43: Canada, Residential Building Permits Issued (CAD Million, Seasonally Adjusted Terms)
- Figure 44: Canada, New Housing Price Index, 2016=100
- Figure 45: Canada, Housing Construction Started in Census Metropolitan Areas
- Figure 46: Canada, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 47: Canada, Headquarters of Key Consultants (% of Total Project Pipeline)
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