Vietnam Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q1 2025)
Summary
Vietnam’s construction industry is expected to grow by 6% in real terms in 2025, supported by an increase in transport construction activity and public and private sector investments in housing and power construction projects. In February 2025, the Ministry of Transport announced it plans to start construction on 19 transport infrastructure projects this year. Additionally, the Ministry of Construction is planning to build 100,000 social housing units in 2025, supporting the government’s aim of developing one million social housing units from 2021 to 2030. According to the General Statistics Office of Vietnam (GSO), the value-add of the construction industry grew by 8.3% year on year (YoY) in Q1 2024, preceded by YoY growths of 7.4% in Q3 and 8% in Q2 2024.
The construction industry in Vietnam is expected to register an annual average growth rate of 6.9% from 2026 to 2029, supported by investments 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. The growth of the construction industry is also expected to be supported by the government’s plan to construct a VND1.6 quadrillion ($67 billion) high-speed railway project, linking Hanoi and Ho Chi Minh City by 2035
GlobalData’s Construction in Vietnam - Key Trends and Opportunities to 2029 (Q1 2025) 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
This report provides a comprehensive analysis of the construction industry in Vietnam. It provides -
- Historical (2020-2024) and forecast (2025-2029) 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
- Identify and evaluate market opportunities using our 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 business strategies 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), 2020–29
- Table 4: Vietnam, Top Commercial Construction Projects by Value
- Table 5: Vietnam, Industrial Construction Output by Project Type (Real % Change), 2020–29
- Table 6: Vietnam, Top Industrial Construction Projects by Value
- Table 7: Vietnam, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
- Table 8: Vietnam, Top Infrastructure Construction Projects by Value
- Table 9: Vietnam, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
- Table 10: Vietnam, Top Energy and Utilities Construction Projects by Value
- Table 11: Vietnam, Institutional Construction Output by Project Type (Real % Change), 2020-29
- Table 12: Vietnam, Top Institutional Construction Projects by Value
- Table 13: Vietnam, Residential Construction Output by Project Type (Real % Change), 2020-29
- 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-East Asia, Construction Output (Real % Change), 2023–29
- Figure 2: Vietnam, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 3: Vietnam, Risk Summary
- Figure 4: Vietnam, Risk Regional Comparison
- Figure 5: Vietnam, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 6: Vietnam, Construction Output Value, by Sector (Real, $ Million), 2020–29
- 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), 2020–29
- 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), 2020–29
- Figure 17: Vietnam, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 18: Vietnam, Manufacturing Value-Add, 2010 Constant Prices (VND Billion)
- Figure 19: Vietnam, Exports of Goods ($ Billion)
- Figure 20: Vietnam, Total Credit Outstanding to Industrial Sector (VND Trillion)
- Figure 21: Vietnam, Industrial Production Index, % Change YoY (2015=100)
- Figure 22: Vietnam, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 23: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 24: Vietnam, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 25: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 26: Vietnam, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 27: Vietnam, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 28: Vietnam, Education and Healthcare Value-add (2010 Constant Prices, VND Billion)
- Figure 29: Vietnam, Residential Construction Output by Project Type (Real, $ Million), 2020-29
- 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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