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The Philippines Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)

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    Report

  • 48 Pages
  • September 2024
  • Region: Philippines
  • GlobalData
  • ID: 5767966
Description Jump to:
The Construction in the Philippines - Key Trends and Opportunities to 2028 (Q3 2024) report provides detailed market analysis, information, and insights into the Philippine construction industry, including:
  • The Philippine 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 Philippine construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
The analyst expects the construction industry in the Philippines to expand by 10.7% in real terms in 2024, supported by investments in transport and renewable energy projects. The Philippine Ports Authority (PPA) reported in July 2024 that it will undertake 84 projects this year, which will require a combined investment of PHP28.6 billion ($516.4 million). Of the total, it expects to complete 29 projects, amounting to PHP8.7 billion ($156.2 million), in 2024. Earlier that month, the PPA had allocated PHP16 billion ($289 million) for port projects until 2028, in line with the rising passenger and cargo traffic. The PPA is also conducting feasibility studies and site surveys to identify locations that require an improvement in sea transport connectivity. In another boost to the industry’s output, in late August 2024, the Department of Budget and Management (DBM) reported that the government infrastructure spending totalled PHP612 billion ($11.1 billion) in the first half (H1) of 2024; this is 12% more than the PHP545.3 billion ($9.8 billion) infrastructure spending program set by the Cabinet-level Development Budget Coordination Committee for the same period. This increase in infrastructure spending is due to early fund releases and procurement.

The analyst expects the construction industry in the Philippines to register an annual average growth rate of 7.1% between 2025 and 2028, supported by the government’s focus on the development of transport and energy infrastructure, coupled with investment to develop affordable housing and social infrastructure. The government plans to increase the share of renewable energy it its total power mix from 24% in 2020 to 35% by 2030 and 50% by 2040, under the National Renewable Energy Program (2020-40). In mid-August 2024, the Board of Investments of the Philippines fast-tracked a PHP185.3 billion ($3.3 billion) solar and storage project by issuing a 'green lane certificate'; through the 'green lane certificate', the project will benefit from streamlined and expedited processing of permits.

Scope

This report provides a comprehensive analysis of the construction industry in the Philippines. It provides:

  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in the Philippines, 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 analyst'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 analyst'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-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
  • About the Analyst
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: The Philippines, Key Economic Indicators
Table 3: The Philippines, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: The Philippines, Top Commercial Construction Projects by Value
Table 5: The Philippines, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: The Philippines, Top Industrial Construction Projects by Value
Table 7: The Philippines, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: The Philippines, Top Infrastructure Construction Projects by Value
Table 9: The Philippines, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: The Philippines, Top Energy and Utilities Construction Projects by Value
Table 11: The Philippines, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: The Philippines, Top Institutional Construction Projects by Value
Table 13: The Philippines, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: The Philippines, Top Residential Construction Projects by Value
Table 15: The Philippines, Key Contractors
Table 16: The Philippines, Key Consultants
Table 17: The Philippines, Construction Output Value (Real, $ Million)
Table 18: The Philippines, Construction Output Value (Nominal, PHP Billion)
Table 19: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: The Philippines, Construction Output (Real % Change), 2022-28
Figure 2: The Philippines, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: The Philippines, Risk Summary
Figure 4: The Philippines, Risk Regional Comparison
Figure 5: The Philippines, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: The Philippines, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: The Philippines, Construction Value Add (PHP Billion, 2018 Constant Prices)
Figure 8: The Philippines, Gross Fixed Capital Formation in Construction (PHP Billion, 2018 Constant Prices)
Figure 9: The Philippines, Construction Materials Retail Price Index in the National Capital Region (2012=100)
Figure 10: The Philippines, Loans Outstanding for Construction (PHP Billion)
Figure 11: The Philippines, Construction Projects Momentum Index
Figure 12: South-East Asia, Construction Projects Momentum Index
Figure 13: The Philippines, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 14: The Philippines, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 15: The Philippines, Accommodation and Food Service Activities Value Add (PHP Billion, 2018 Constant Prices)
Figure 16: The Philippines, Loans Outstanding for Accommodation and Food Service Activities (PHP Billion)
Figure 17: The Philippines, Wholesale and Retail Trade Value Add, at 2018 Constant Prices, % Change YoY
Figure 18: The Philippines, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 19: The Philippines, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: The Philippines, Mining and Quarrying Value Add (PHP Billion, 2018 Constant Prices)
Figure 21: The Philippines, Manufacturing Value Add (PHP Billion, 2018 Constant Prices)
Figure 22: The Philippines, Loans Outstanding for Manufacturing (PHP Billion)
Figure 23: The Philippines, Total Exports ($ Billion)
Figure 24: The Philippines, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 25: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 26: The Philippines, Transportation and Storage Value Add (PHP Billion, 2018 Constant Prices)
Figure 27: The Philippines, Loans Outstanding for Transportation and Storage (PHP Billion)
Figure 28: The Philippines, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 29: The Philippines, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 30: The Philippines, Electricity Generation, Steam, Water, and Waste Management Value Add (PHP Billion, 2018 Constant Prices)
Figure 31: The Philippines, Information and Communication Value Add (PHP Billion, 2018 Constant Prices)
Figure 32: The Philippines, Loans Outstanding for Electricity, Gas, Steam and Air-Conditioning Supply (PHP Billion)
Figure 33: The Philippines, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 34: The Philippines, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 35: The Philippines, Education Value Add (PHP Billion, 2018 Constant Prices)
Figure 36: The Philippines, Human Health and Social Work Activities Value Add (PHP Billion, 2018 Constant Prices)
Figure 37: The Philippines, Loans Outstanding for Education (PHP Billion)
Figure 38: The Philippines, Loans Outstanding for Human Health and Social Work Activities (PHP Billion)
Figure 39: The Philippines, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 40: The Philippines, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: The Philippines, Real estate and Ownership of Dwellings Value Add (PHP Billion, 2018 Constant Prices)
Figure 42: The Philippines, Loans Outstanding for Real Estate Activities (PHP Billion)
Figure 43: The Philippines, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 44: The Philippines, Headquarters of Key Consultants (% of Total Project Pipeline)

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