India Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027
Summary
GlobalData expects the construction industry in India to expand by 7.5% in real terms this year, supported by the construction of major projects in the transport, energy, and housing sectors, coupled with the completion of significant infrastructure and housing projects ahead of the 2024 elections. Construction industry growth will also be supported by the 2023-24 Budget expenditure of INR45 trillion ($561.2 billion) - a 7.5% increase in comparison to the revised estimate for 2022-23. According to the Ministry of Statistics and Program Implementation (MoSPI), the construction industry’s value add rose by 7.9% year on year (YoY) in Q2 2023, preceded by Y-o-Y growth of 10.4% in Q1 2023 and 8.3% in Q4 2022.
The industry is expected to record an annual average growth of 6% from 2024 to 2027, supported by a strong pipeline of infrastructure and energy projects. According to the Infrastructure and Project Monitoring Division of the MoSPI—as of July 1, 2023—India had 1,646 projects in the pipeline, valued at INR28.6 trillion ($356 billion). Of the total, projects in the road transport and highway sector account for the highest number of projects in the pipeline, equivalent to 56.1%; this is followed by railways (10.8%), petroleum (8.7%), coal (7.6%), power (5.5%), and water resources (2.6%).
The report provides detailed market analysis, information and insights into the India’s construction industry, including -
- India’s 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 [Country Name] construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in India. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in India, 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
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: India, Key Economic Indicators
- Table 3: India, Commercial Construction Output by Project Type (Real % Change), 2018–27
- Table 4: India, Top Commercial Construction Projects by Value
- Table 5: India, Industrial Construction Output by Project Type (Real % Change), 2018–27
- Table 6: India, Top Industrial Construction Projects by Value
- Table 7: India, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
- Table 8: India, Top Infrastructure Construction Projects by Value
- Table 9: India, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
- Table 10: India, Top Energy and Utilities Construction Projects by Value
- Table 11: India, Institutional Construction Output by Project Type (Real % Change), 2018–27
- Table 12: India, Top Institutional Construction Projects by Value
- Table 13: India, Residential Construction Output by Project Type (Real % Change), 2018–27
- Table 14: India, Top Residential Construction Projects by Value
- Table 15: India, Key Contractors
- Table 16: India, Key Consultants
- Table 17: India, Construction Output Value (Real, $ Million)
- Table 18: India, Construction Output Value (Nominal, INR Billion)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: South Asia, Construction Output (Real % Change), 2021–27
- Figure 2: India, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
- Figure 3: India, Risk Summary
- Figure 4: India, Risk Regional Comparison
- Figure 5: India, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27
- Figure 6: India, Construction Output Value, by Sector (Real, $ Million), 2018–27
- Figure 7: India, Construction Value Add (Constant 2011–12 Prices, INR Billion)
- Figure 8: India, Gross Fixed Capital Formation (Constant 2011–12 Prices, INR Billion)
- Figure 9: India, Total Number of Projects in the Pipeline According to Implementation Status
- Figure 10: India, Total Number of Projects in The Pipeline According to Implementation Status)
- Figure 11: India, Cement Production, In Million Tonnes (MT)
- Figure 12: India, Construction Projects Momentum Index
- Figure 13: South Asia, Construction Projects Momentum Index
- Figure 14: India, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 15: India, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: India, Trade, Hotels, Transport, and Communication Sector Value Add (Constant 2011–12 Prices, INR Billion)
- Figure 17: India, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 18: India, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 19: India, Manufacturing Value Add (Constant 2011–12 Prices, INR Billion)
- Figure 20: India, Industrial and Manufacturing Production Index (2011–12 Base Prices)
- Figure 21: India, Total Exports (INR Billion)
- Figure 22: India, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 23: India, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 24: India, Total Road Network Widened, Upgraded and Strengthened, In Km
- Figure 25: India, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 26: India, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 27: India, Electricity, Gas, and Water Services Value Add (Constant 2011–12 Prices, INR Billion)
- Figure 28: India, Total Electricity Generation, In Billion Units (BU)
- Figure 29: India, New Installed Power Capacity, In MW
- Figure 30: India, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 31: India, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 32: India, Telecommunication and Other Information Services Value Add (INR Million, 2007 Constant Prices)
- Figure 33: India, Residential Construction Output by Project Type (Real, $ Million), 2018–27
- Figure 34: India, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 35: India, Financial, Real Estate, and Professional Services Value Add (Constant 2011–12 Prices, INR Billion)
- Figure 36: India, Housing Price Index (2010-11=100)
- Figure 37: India, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 38: India, Headquarters of Key Consultants (% of Total Project Pipeline)
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