Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027


Summary

GlobalData expects the Vietnamese construction industry to grow by 5.4% in 2023, supported by investment in the development of transport and energy infrastructure, and increased foreign direct investment (FDI) and public investment. However, the residential sector, which accounted for 39.3% of total construction output in 2022, is expected to slow in 2023 due to financial constraints, significant debt, and liquidity issues, which has forced several real estate developers to indefinitely halt operations.

Over the remainder of the forecast period, the construction industry’s output is expected to register an annual average growth of 7% from 2024 to 2027, supported by the government’s efforts to develop transport, energy, industrial and housing infrastructure. In March 2023, the National Assembly approved the 2023 Budget of VND692.6 trillion ($30 billion), a significant increase from more than VND127 trillion ($5.5 billion) in 2022. Also, the government approved the National Petroleum and Gas Reserve and Supply Infrastructure Plan for the period 2021-2030 in July 2023, with a total investment of VND270 trillion ($11.7 billion), which aims to increase the storage capacity of crude oil and petroleum products nationwide to 75-80 days of net imports by 2030, and 90 days of net imports by 2050.

The report provides detailed market analysis, information and insights into the Vietnamese construction industry, including -
  • The Vietnamese 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 Vietnamese 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 Vietnam. It provides -
  • Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Vietnam, 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: Vietnam, Key Economic Indicators
Table 3: Vietnam, Commercial Construction Output by Project Type (Real % Change), 2018–27
Table 4: Vietnam, Top Commercial Construction Projects by Value
Table 5: Vietnam, Industrial Construction Output by Project Type (Real % Change), 2018–27
Table 6: Vietnam, Top Industrial Construction Projects by Value
Table 7: Vietnam, Infrastructure Construction Output by Project Type (Real % Change), 2018–27
Table 8: Vietnam, Top Infrastructure Construction Projects by Value
Table 9: Vietnam, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27
Table 10: Vietnam, Top Energy and Utilities Construction Projects by Value
Table 11: Vietnam, Institutional Construction Output by Project Type (Real % Change), 2018–27
Table 12: Vietnam, Top Institutional Construction Projects by Value
Table 13: Vietnam, Residential Construction Output by Project Type (Real % Change), 2018–27
Table 14: Vietnam, Top Residential Construction Projects by Value
Table 15: Vietnam, Key Contractors
Table 16: Vietnam, Key Consultants
Table 17: Vietnam, Construction Output Value (Real, $ Million)
Table 18: Vietnam, Construction Output Value (Nominal, VND Trillion)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: South and South-East Asia, Construction Output (Real % Change), 2021–27
Figure 2: Vietnam, Construction Output by Sector (Real % Change), 2021–23 and 2024–27
Figure 3: Vietnam, Risk Summary
Figure 4: Vietnam, Risk Regional Comparison
Figure 5: Vietnam, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27
Figure 6: Vietnam, Construction Output Value, by Sector (Real, $ Million), 2018–27
Figure 7: Vietnam, Construction Value Add, 2010 Constant Prices (VND Billion)
Figure 8: Vietnam, Total Credit Outstanding to Construction Sector (VND Trillion)
Figure 9: Vietnam, Construction Projects Momentum Index
Figure 10: South-East Asia, Construction Projects Momentum Index
Figure 11: Vietnam, Commercial Construction Output by Project Type (Real, $ Million), 2018–27
Figure 12: Vietnam, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 13: Vietnam, Service Sector Value Add, 2010 Constant Prices (VND Billion)
Figure 14: Vietnam, Total Retail Sales of Consumer Goods and Services (VND Trillion)
Figure 15: Vietnam, Total International Visitors (In Thousands)
Figure 16: Vietnam, Industrial Construction Output by Project Type (Real, $ Million), 2018–27
Figure 17: Vietnam, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 18: Vietnam, Total Credit Outstanding to Industrial Sector (VND Trillion)
Figure 19: Vietnam, Manufacturing Value Add, 2010 Constant Prices (VND Billion)
Figure 20: Vietnam, Preliminary Exports of Goods ($ Billion)
Figure 21: Vietnam, Industrial Production Index, % Change YoY (2015=100)
Figure 22: Vietnam, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27
Figure 23: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: Vietnam, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27
Figure 25: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 26: Vietnam, Institutional Construction Output by Project Type (Real, $ Million), 2018–27
Figure 27: Vietnam, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Vietnam, Education and Healthcare Value add (At 2010 Constant Prices, In VND Billion)
Figure 29: Vietnam, Residential Construction Output by Project Type (Real, $ Million), 2018–27
Figure 30: Vietnam, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Vietnam, Real Estate Business Value Add, 2010 Constant Prices (VND Billion)
Figure 32: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 33: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)

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