The Japanese construction industry was severely impacted by the Coronavirus (COVID-19) pandemic and the subsequent implementation of state-of-emergency measures, resulting in a 7% decline in real terms in 2020. The industry has remained weak in the first two quarters of this year. According to the Economic and Social Research Institute (Cabinet Office, Government of Japan), the value of construction fell by 15.5% quarter on quarter (QoQ) in Q2 2021. While construction value grew by 1.5% year on year (YoY) in Q2 2021, this was primarily due to the low base set in Q2 2020.
The publisher expects the construction industry to expand by 5.1% in 2021, before registering an annual average growth of 1.2% between 2022-2025; this will be supported by investments in the transport, renewable energy, telecommunication and manufacturing sectors. The government plans to develop 10GW of offshore wind capacity by Fiscal Year (FY) 2030/2031, in line with its target to increase the share of renewable energy in its total power mix to 22-24% by 2030; this will attract public and private sector investment towards the renewable energy projects.
The output of the industrial sector will be strengthened by increased investments in manufacturing and non-manufacturing industries as a result of the government's focus on improving supply chain resilience and reducing dependence on China. To achieve this, the government outlaid JPY220 billion (US$2 billion) of subsidies in April 2020, to encourage manufacturing enterprises to relocate to Japan. In May 2021, the government approved JPY35.84 trillion (US$344.2 billion) for the development of social security services, including healthcare and pensions, in response to Japan's ageing population.
The publisher’s Construction in Japan - Key Trends and Opportunities to 2025 (H2 2021) report provides detailed market analysis, information and insights into the Japanese construction industry, including -
This report provides a comprehensive analysis of the construction industry in Japan. It provides -
The publisher expects the construction industry to expand by 5.1% in 2021, before registering an annual average growth of 1.2% between 2022-2025; this will be supported by investments in the transport, renewable energy, telecommunication and manufacturing sectors. The government plans to develop 10GW of offshore wind capacity by Fiscal Year (FY) 2030/2031, in line with its target to increase the share of renewable energy in its total power mix to 22-24% by 2030; this will attract public and private sector investment towards the renewable energy projects.
The output of the industrial sector will be strengthened by increased investments in manufacturing and non-manufacturing industries as a result of the government's focus on improving supply chain resilience and reducing dependence on China. To achieve this, the government outlaid JPY220 billion (US$2 billion) of subsidies in April 2020, to encourage manufacturing enterprises to relocate to Japan. In May 2021, the government approved JPY35.84 trillion (US$344.2 billion) for the development of social security services, including healthcare and pensions, in response to Japan's ageing population.
The publisher’s Construction in Japan - Key Trends and Opportunities to 2025 (H2 2021) report provides detailed market analysis, information and insights into the Japanese construction industry, including -
- The Japanese 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 Japanese 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 Japan. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Japan, 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 the publisher'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 the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
