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China 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

  • 57 Pages
  • May 2022
  • Region: China
  • GlobalData
  • ID: 5595409
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The construction industry in China registered an annual growth of 2.1% in real terms last year, which is attributed to the slowdown in China’s real estate industry, amid a tightening of regulatory controls to limit debt growth of real estate developers. GlobalData expects the construction industry to record a growth of 4% this year, following a significant acceleration of infrastructure spending. According to the National Bureau of Statistics (NBS), the industry’s value add index grew by 1.4% year on year (YoY) in Q1 2022, preceded by Y-o-Y declines of 2.1% in Q4 and 1.8% in Q3 2021. According to the Ministry of Commerce (MOFCOM), mainland China attracted CNY379.87 billion ($59.1 billion) in foreign direct investment (FDI) in Q1 2022 - up by 25.6% compared to Q1 2021. A downside risk to the industry’s outlook, however, is the weakening of investor and consumer confidence amid the imposition of strict Coronavirus (COVID-19) restrictions in several provinces, coupled with supply chain disruptions amid external uncertainty arising from the Russia-Ukraine conflict.
Between January and mid-April 2022, the National Development and Reform Commission (NDRC) approved 32 fixed-asset investment projects worth CNY520 billion ($80.9 billion), mainly in the transport, water conservancy, energy and high-tech sectors. According to the NDRC, the total investment volume for newly commenced projects in the first quarter of 2022 grew by 54.9% YoY. Furthermore, in mid-April 2022, the government issued the CNY3.65 trillion ($567.6 billion) special purpose bond (SPB) quota for 2022, through which local governments can fund infrastructure development.

The Chinese construction industry is expected to register an annual average growth of 4.5% from 2023 to 2026, supported by investments on infrastructure projects as part of the 14th Five-Year Plan (2021-25), which involves the development of various sectors, including transport, health and education, energy and manufacturing, among others. As part of the plan, in September 2021, the government announced an investment of CNY1.1 trillion ($154.9 billion) on the expansion of the railway network in the Yangtze River Delta (YRD) region, as well as CNY400 billion ($58.6 billion) on highways in the Xinjiang region. According to the National Rail Operator, China completed the construction of 233km of new high-speed rail in the first quarter of 2022, with progress being made on the preliminary work of key projects linking Northwest China's Xinjiang Uygur Autonomous Region and Southwest China's Xizang Autonomous Region, China Railway. Additionally, the government announced its plans to build 6.5 million government-subsidized rental homes in 40 key cities by 2025, in order to accommodate 13 million people in need of affordable housing. However, downside risks to the outlook are substantial, including the restrictions on real estate developers, poor consumer confidence in the housing market and the impact of falling land sales revenue on local government revenues. China’s aim to reach peak carbon dioxide emissions before 2030 and reach carbon neutrality before 2060 will also support growth over the forecast period. To achieve this, the China Development Bank announced plans in June 2021 to provide financing worth CNY500 billion ($73.2 billion) by 2025, in support of renewable energy projects.

The report provides detailed market analysis, information and insights into the Chinese construction industry, including:
  • The Chinese 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 Chinese 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 China. It provides:
  • Historical (2016-2021) and forecast (2021-2026) valuations of the construction industry in China, 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.

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: China, Key Economic Indicators
Table 3: China, Gross Output of Construction, CNY Billion, (Annual, 2016-21)
Table 4: China, Commercial Construction Output by Project Type (Real % Change), 2017-26
Table 5: China, Top Commercial Construction Projects by Value
Table 6: China, Industrial Construction Output by Project Type (Real % Change), 2017-26
Table 7: China, Top Industrial Construction Projects by Value
Table 8: China, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
Table 9: China, Top Infrastructure Construction Projects by Value
Table 10: China, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
Table 11: China, Top Energy and Utilities Construction Projects by Value
Table 12: China, Institutional Construction Output by Project Type (Real % Change), 2017-26
Table 13: China, Top Institutional Construction Projects by Value
Table 14: China, Residential Construction Output by Project Type (Real % Change), 2017-26
Table 15: China, Top Residential Construction Projects by Value
Table 16: China, Key Contractors
Table 17: China, Key Consultants
Table 18: China, Construction Output Value (Real, $ Billion)
Table 19: China, Construction Output Value (Nominal, CNY Billion)
Table 20: Publisher Construction Market Definitions
Table 21: Risk Dimensions
Table 22: Ratings, Scores and Definitions
List of Figures
Figure 1: North-East Asia, Construction Output (Real % Change), 2020-26
Figure 2: China, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
Figure 3: China, COVID-19 Confirmed Cases
Figure 4: China, Risk Summary
Figure 5: China, Risk Regional Comparison
Figure 6: China, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
Figure 7: China, Construction Output Value, by Sector (Real, $ Million), 2017-26
Figure 8: China, Construction Value Add, % Change YoY
Figure 9: China, Gross Output of Construction by Province in Q1 2022 (% Change YoY)
Figure 10: China, Total Value of Buildings Completed by Construction Enterprises (CNY Billion)
Figure 11: China, Investment on Fixed Assets in The Construction Industry, (Accumulated % Change, YoY)
Figure 12: China, Total Value of New Contracts Signed by Construction Enterprises (CYN Trillion)
Figure 13: China, Total Value of New Contracts Signed by Construction Enterprises by Top 10 Provinces (CYN Billion)
Figure 14: China, Investment in Real Estate Development, (Accumulated % Change, YoY)
Figure 15: China, Construction Purchasing Managers’ Index (PMI), Seasonally Adjusted
Figure 16: China, Construction Projects Momentum Index
Figure 17: North-East Asia, Construction Projects Momentum Index
Figure 18: China, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 19: China, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: China, Total Floor Space of Commercial Buildings Under Construction, in Million m2 (Accumulated)
Figure 21: China, Investment in Commercial Real Estate Development (in CNY Billion)
Figure 22: China, Floor Space of Office Buildings Under Construction, % Change YoY
Figure 23: China, Investment on Office Buildings, In CNY Billion
Figure 24: China, Total Retail Sales of Consumer Goods, In CNY Billion
Figure 25: China, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 26: China, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: China, Industrial and Manufacturing Value Add, % Change YoY
Figure 28: China, Manufacturing Purchasing Managers Index, Seasonally Adjusted
Figure 29: China, Automobile Production and Sales, In Thousand Units
Figure 30: China, Total Exports (in $ Billion), % Change YoY
Figure 31: China, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
Figure 32: China, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: China, Fixed Asset Investment in The Transport Sector (% Change, YoY)
Figure 34: China, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
Figure 35: China, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: China, Total Electricity Generation, In TWh
Figure 37: China, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
Figure 38: China, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 39: China, Total Value of Buildings Completed for Scientific Research, Education and Medical Use YoY % Change
Figure 40: China, Residential Construction Output by Project Type (Real, $ Million), 2017-26
Figure 41: China, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 42: China, Total Floor Space of Residential Area Under Construction and Total Floor Space of Residential Builds Started This Year
Figure 43: China, Investment in Residential Real Estate Development (in CNY Billion)
Figure 44: China, Total Value of Residential Buildings Sold (in CNY Trillion)
Figure 45: China, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: China, Headquarters of Key Consultants (% of Total Project Pipeline)