Vietnam Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Vietnam Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Summary

GlobalData’s Construction in Vietnam - Key Trends and Opportunities to 2028 (Q2 2024) report provides detailed market analysis, information, and insights into Vietnam’s construction industry, including-

• Vietnam’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 Vietnam’s construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Vietnam’s construction industry is expected to grow by 7.5% in 2024, supported by an increase in transport construction activity and public and private sector investment in housing and power construction projects. In March 2024, the Ministry of Transport announced it plans to begin construction on 19 transport infrastructure projects this year, including 11 expressways. Additionally, the Ministry of Construction is planning to build 130,000 social housing units in 2024, supporting the government’s aim of developing one million social housing units from 2021 to 2030.

The construction industry in Vietnam is expected to register an annual average growth of 6.7% from 2025 to 2028, supported by investment in transport infrastructure, renewable energy, and industrial projects, and the Ministry of Industry and Trade’s strategy to produce 20 million tonnes of hydrogen per year by 2050. The Ministry of Transport is planning to expand the length of expressways from 1,900km in 2023 to 3,000km by 2025 and 5,000km by 2030. The government is also planning to build eight metro lines in the country with an investment of VND587 trillion ($25 billion) by the end of 2035, under Ho Chi Minh City’s urban railway planning. Of the eight metro lines planned, the construction of the Metro No.1 is expected to be completed by the end of 2024 and Metro No.2 is currently in the early stages. The growth of the construction industry is also expected to be supported by foreign direct investment (FDI) in manufacturing and energy projects. In March 2024, the Vietnamese Finance Minister revealed that the country is planning to borrow 30% of the VND1.6 quadrillion ($67 billion) required to develop the North-South high-speed railway project from foreign investors.

Scope

This report provides a comprehensive analysis of the construction industry in Vietnam. It provides-

• Historical (2019-2023) and forecast (2024-2028) 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.