Japan Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
Summary
The construction industry in Japan is expected to have expanded by 2.5% in real terms in 2022, supported by growth in the total value of the private investment in building construction. According to the Statistics Bureau, private investment in building construction grew by 4.9% year-on-year (YoY) in the first nine months of 2022, supported by a rise in both private non-residential (5.4% YoY) and residential (2.7% YoY) building construction. GlobalData expects the Japanese construction industry to expand by 0.9% in 2023, supported by an expected increase in the inflow of foreign tourists in 2023, coupled with a rise in the total value of contracts received for construction. According to the Statistics Bureau, the value of contracts received rose by 6.6% YoY in the first ten months of 2022, supported by an 11.4% YoY growth in the value of contracts received for building construction; in contrast, contracts received for civil engineering works fell by 5.2% YoY during the period.
The Japanese construction industry is forecasted to register an annual average growth rate of 1% over the remainder of the forecast period, between 2024 and 2027, supported by investment in renewable energy infrastructure, telecommunication, and manufacturing. Growth will be supported by the government’s goal of generating 36-38% of the power mix from renewable energy sources by 2030, compared to 21% as of March 2022. Additionally, the government aims to increase nuclear energy’s share in the energy mix from 7% in 2022 to 20-22% by the end of 2030.
The report provides detailed market analysis, information, and insights into the Japanese construction industry, including -
- The Japanese 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 Japanese 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 Japan. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Japan, 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
- 7.4 GlobalData Construction
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Japan, Key Economic Indicators
- Table 3: Japan, Commercial Construction Output by Project Type (Real % Change), 2018-27
- Table 4: Japan, Top Commercial Construction Projects by Value
- Table 5: Japan, Industrial Construction Output by Project Type (Real % Change), 2018-27
- Table 6: Japan, Top Industrial Construction Projects by Value
- Table 7: Japan, Infrastructure Construction Output by Project Type (Real % Change), 2018-27
- Table 8: Japan, Top Infrastructure Construction Projects by Value
- Table 9: Japan, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27
- Table 10: Japan, Top Energy and Utilities Construction Projects by Value
- Table 11: Japan, Institutional Construction Output by Project Type (Real % Change), 2018-27
- Table 12: Japan, Top Institutional Construction Projects by Value
- Table 13: Japan, Residential Construction Output by Project Type (Real % Change), 2018-27
- Table 14: Japan, Top Residential Construction Projects by Value
- Table 15: Japan, Key Contractors
- Table 16: Japan, Key Consultants
- Table 17: Japan, Construction Output Value (Real, $ Million)
- Table 18: Japan, Construction Output Value (Nominal, JPY Million)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: North-East Asia, Construction Output (Real % Change), 2021-27
- Figure 2: Japan, Construction Output by Sector (Real % Change), 2021-23 and 2024-27
- Figure 3: Japan, Risk Summary
- Figure 4: Japan, Risk Regional Comparison
- Figure 5: Japan, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018-27
- Figure 6: Japan, Construction Output Value, by Sector (Real, $ Million), 2018-27
- Figure 7: Japan, Total Value of Private Sector Investments on Buildings (JPY Billion)
- Figure 8: Japan, Total Floor Area of Building Construction Started, % Change YoY
- Figure 9: Japan, Value of Contracts Received for Construction, Nominal (JPY Billion)
- Figure 10: Japan, Construction Projects Momentum Index
- Figure 11: North-East Asia, Construction Projects Momentum Index
- Figure 12: Japan, Commercial Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 13: Japan, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 14: Japan, Foreign Visitor Arrivals (in Thousands)
- Figure 15: Japan, Wholesale and Retail Trade, % Change YoY
- Figure 16: Japan, Sales in the Accommodation and Food Services Sector, in JPY Billion
- Figure 17: Japan, Industrial Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 18: Japan, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 19: Japan, Manufacturing Production Index (2015=100), Seasonally Adjusted
- Figure 20: Japan, Overseas Machinery Orders (JPY billion)
- Figure 21: Japan, New Motor Vehicle Sales (in Thousands)
- Figure 22: Japan, Exports (JPY Trillion)
- Figure 23: Japan, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 24: Japan, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 25: Japan, Value of Contracts Received for Civil engineering Construction (JPY Billion)
- Figure 26: Japan, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 27: Japan, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Japan, Institutional Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 29: Japan, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 30: Japan, Total Area of New Schools and Hospitals Construction Starts (in thousand m2)
- Figure 31: Japan, Residential Construction Output by Project Type (Real, $ Million), 2018-27
- Figure 32: Japan, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 33: Japan, Private Residential Investments (in JPY Billion)
- Figure 34: Japan, Consumer Confidence Index, Seasonally Adjusted
- Figure 35: Japan, Number of New Construction Starts of Dwellings (in Thousands)
- Figure 36: Japan, Existing Home Sales in Tokyo and Osaka Metropolitan Areas, % Change YoY
- Figure 37: Japan, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 38: Japan, Headquarters of Key Consultants (% of Total Project Pipeline)
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