China Construction Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

China Construction Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The China Construction Market is estimated to grow at a CAGR of approximately 5% during the forecast period.

China's economic growth has remained generally stable, the development trend of stability and progress, the main macroeconomic indicators are operating in a reasonable range, and the economic structure is being optimized and adjusted.

China's in the middle of a massive boom in manufacturing. The nation has the largest building market in the world, accounting for 20% of all construction investment worldwide. And it is set to grow: China is expected to spend nearly USD 13 trillion on buildings by 2030.

In the first half of 2019, the value of newly signed contracts in the construction industry was 120,305.68 billion yuan, an increase of 2.5% year-on-year, and the growth rate narrowed by 7.1 percentage points compared with the same period last year.

Key Market TrendsIncrease in Output value of China Construction Industry:

The output value of construction in China from 2014 to 2019, indicating a progressive growth in the industry. In 2019, the construction output value in China achieved its peak at around 24.84 trillion yuan. Demographics is expected to continue spurring growth in residential construction in China. Rising household income rates, along with population migration from rural to urban areas, are expected to continue to drive demand for residential construction in the country. Increased emphasis on both public and private sector affordable housing would fuel development in the residential construction sector. Non-residential infrastructure is also projected to expand dramatically in the coming years. The aging population in China is increasing demand for the construction of healthcare facilities and new hospitals.

Increase in Value of Contracts:

In 2018, approximately 50 trillion-yuan worth of contracts were signed by the construction enterprises in China. Driven by the rapid urbanization, the construction industry in China exceeded 23 trillion yuan in output that year. In addition to several contracts awarded to China State Construction in the past by local casino operators and hotels – such as Wynn Resorts, MGM, Melco and The 13 the group has also been awarded several contracts for public works and urban development projects in the city. IN 2019, China Railway Construction Corporation (1186) announced its value of newly signed contracts for the first three quarters this year rose 25.07% from a year ago to 1.12 trillion yuan. For the third quarter, its value of newly signed contracts spiked 40.3% to 396.54 billion yuan.

Competitive Landscape

The report covers the major players operating in the China Construction Market. The market is Fragmented, the China construction market presents opportunities for growth during the forecast period.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
China State Construction Engineering
China Railway Group
China Railway Construction
China Communications Construction Company
Power Construction Corporation of China
China Metallurgical Group
China Energy Engineering Corporation
Shanghai Construction Group
China National Chemical Engineering
China Petroleum Engineering Corporation

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