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Philippines Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

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    Report

  • 52 Pages
  • September 2022
  • Region: Philippines
  • GlobalData
  • ID: 5591580
1h Free Analyst Time
1h Free Analyst Time

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The publisher has revised down its estimated growth of the Philippine construction industry in 2022, with the industry now expected to expand by 16.5% in real terms this year-down from its previous estimate of a 21.8% growth. This downward revision is attributed to rising inflationary pressures, slowing economic growth, and the tightening of monetary policy by the Bangko Sentral ng Pilipinas (BSP). Despite these headwinds, the industry's output in 2022 will be supported by ongoing transport infrastructure and housing projects. According to the Philippine Statistics Authority (PSA), the construction industry's value add grew by 19% year on year (YoY) in Q2 2022, preceded by Y-o-Y growths of 14.7% in Q1 2022 and 18.6% in Q4 2021.

The construction industry is expected to register an annual average growth of 7.3% from 2023 to 2026, supported by government investment on transport, health, education, and energy infrastructure. As per the proposed Budget for the fiscal year (FY) 2023, the government plans to allocate PHP5.3 trillion ($102.1 billion)-which includes PHP710.6 billion ($13.7 billion) for the education sector, PHP1.2 trillion ($23.1 billion) for the infrastructure sector, PHP296.3 billion ($5.7 billion) for the health sector, PHP184.1 billion ($3.6 billion) for agriculture, PHP197 billion ($3.8 billion) to meet societal needs, and PHP451.3 billion ($8.7 billion) to avert the effects of climate change. Of the PHP1.2 trillion ($23.1 billion) allocated for infrastructure development, the Department of Public Works and Highway (DPWH) will receive PHP718.4 billion ($13.8 billion) and the Department of Transportation (DOTr) will receive PHP167.1 billion ($3.2 billion).

The construction industry's growth over the forecast period will also be supported by the Department of Human Settlements and Urban Development's (DHSUD) plan, announced in August 2022, to eliminate the housing backlog in the country.

The 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.

Scope

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

  • Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in 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 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-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 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
7.4 Publisher Construction
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: The Philippines, Key Economic Indicators
Table 3: The Philippines, The Commercial Construction Output by Project Type (Real % Change), 2017-26
Table 4: The Philippines, Top Commercial Construction Projects by Value
Table 5: The Philippines, Industrial Construction Output by Project Type (Real % Change), 2017-26
Table 6: The Philippines, Top Industrial Construction Projects by Value
Table 7: The Philippines, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
Table 8: The Philippines, Top Infrastructure Construction Projects by Value
Table 9: The Philippines, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
Table 10: The Philippines, Top Energy and Utilities Construction Projects by Value
Table 11: The Philippines, Institutional Construction Output by Project Type (Real % Change), 2017-26
Table 12: The Philippines, Top Institutional Construction Projects by Value
Table 13: The Philippines, Residential Construction Output by Project Type (Real % Change), 2017-26
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, The Construction Output Value (Nominal, PHP Billion)
Table 19: Publisher 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), 2020-26
Figure 2: The Philippines, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
Figure 3: The Philippines, COVID-19 Confirmed Cases
Figure 4: The Philippines, Risk Summary
Figure 5: The Philippines, Risk Regional Comparison
Figure 6: The Philippines, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
Figure 7: The Philippines, Construction Output Value, by Sector (Real, $ Million), 2017-26
Figure 8: The Philippines, Construction Value Add (In PHP Billion, 2018 Constant Prices)
Figure 9: The Philippines, Gross Fixed Capital Formation (In PHP Billion, 2018 Constant Prices)
Figure 10: The Philippines, Construction Materials Retail Price Index in the National Capital Region (2012=100)
Figure 11: The Philippines, Total Approved Foreign Investments (In Current Prices, In PHP Billion)
Figure 12: The Philippines, Loans Outstanding for Construction (In PHP Billion)
Figure 13: The Philippines, Construction Projects Momentum Index
Figure 14: South-East Asia, Construction Projects Momentum Index
Figure 15: The Philippines, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 16: The Philippines, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 17: The Philippines, Wholesale and Retail Trade Value Add, at 2018 Constant Prices, % Change YoY
Figure 18: The Philippines, Accommodation and Food Service Value Add (PHP Billion, 2018 Constant Prices)
Figure 19: The Philippines, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 20: The Philippines, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 21: The Philippines, Mining, and Quarrying Value Add (In PHP Billion, 2018 Constant Prices)
Figure 22: The Philippines, Manufacturing Value Add (In PHP Billion, 2018 Constant Prices)
Figure 23: The Philippines, Total Exports, In PHP Billion
Figure 24: The Philippines, Loans Outstanding for Manufacturing Activities (In PHP Billion)
Figure 25: The Philippines, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
Figure 26: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: The Philippines, Transportation and Storage Activities Value Add (In PHP Billion, 2018 Constant Prices)
Figure 28: The Philippines, Loans Outstanding for Transportation and Storage Activities (In PHP Billion)
Figure 29: The Philippines, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
Figure 30: The Philippines, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: The Philippines, Electricity Generation, Steam, Water, and Waste Management Value Add (In PHP Billion, 2018 Constant Prices)
Figure 32: The Philippines, Information and Communication Value Add (In PHP Billion, 2018 Constant Prices)
Figure 33: The Philippines, Loans Outstanding for Electricity Generation, Steam, Water, and Waste Management Value Add (In PHP Billion)
Figure 34: The Philippines, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
Figure 35: The Philippines, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: The Philippines, Value Add of Education (In PHP Billion, 2018 Constant Prices)
Figure 37: The Philippines, Human Health and Social Work Activities Value Add (In PHP Billion, 2018 Constant Prices)
Figure 38: The Philippines, Loans Outstanding for Educational Activities (In PHP Billion)
Figure 39: The Philippines, Loans Outstanding for Human Health and Social Work Activities (In PHP Billion)
Figure 40: The Philippines, Residential Construction Output by Project Type (Real, $ Million), 2017-26
Figure 41: The Philippines, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 42: The Philippines, Value Add of Real-Estate (In PHP Billion, 2018 Constant Prices)
Figure 43: The Philippines, Loans Outstanding for Real Estate Activities (In PHP Billion)
Figure 44: The Philippines, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 45: The Philippines, Headquarters of Key Consultants (% of Total Project Pipeline)