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.