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Canada 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

  • 62 Pages
  • March 2022
  • Region: Canada
  • GlobalData
  • ID: 5595571
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The construction industry in Canada registered an annual growth of 6.1% in real terms in 2021, compared to a decline of 2% in 2020. Last year, the industry’s output was supported by an improvement in residential building construction and civil engineering activities, which registered annual growth of 13% and 1.8%, respectively. Additionally, progress in the country’s vaccination drive, an increase in household incomes and a recovery in the global economy also supported the industry’s growth in 2021.

The publisher expects the Canadian construction industry to expand by 4% in real terms this year, as strong building permit data has underpinned strong growth in 2022. According to Statistics Canada, the value of building permits rose by 8.3% in 2021, with the value of residential buildings rising by 9.1% and that of non-residential buildings rising by 6.8% last year. The industry’s output will be supported by investments in residential, transport, housing and oil and gas projects. In January 2022, the Canadian Association of Petroleum Producers (CAPP) reported that capital spending in the country’s oil and gas sector is expected to rise by 22% and reach CAD32.8 billion ($26.1 billion) in 2022. However, the rise in construction material prices, labour shortages and the recent hike in interest rates could pose a downside risk to the industry’s outlook in the initial part of the forecast period. According to Statistics Canada, the residential building construction price index rose by 18.1% in 2021, while that of non-residential buildings rose by 6.9% in the same year.

The industry is expected to register an annual average growth of 2.2% from 2023 to 2026, supported by public project growth as longer-term investment plans come to fruition such as the government’s three-year ‘Growth Plan’, which was announced in October 2020. It includes an investment of CAD10 billion ($7.5 billion) on clean energy projects, broadband projects, building retrofitting, agriculture irrigation projects and electric buses and charging infrastructure. This plan is a part of the government’s wider long-term infrastructure plan known as the ‘Investing in Canada Plan’; it was launched in 2016 and involves an investment of CAD188 billion ($141.8 billion) over a period of 12 years. As of February 2022, over 78,000 projects worth CAD118.5 billion ($95.7 billion) had been approved, with 98% of them completed or underway.

The report provides detailed market analysis, information, and insights into the Canadian construction industry, including:

  • The Canadian 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 Canadian 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 Canada. It provides:

  • Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Canada, 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: Canada, Key Economic Indicators
Table 3: Canada, Commercial Construction Output by Project Type (Real % Change), 2017-2026
Table 4: Canada, Top Commercial Construction Projects by Value
Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2017-2026
Table 6: Canada, Top Industrial Construction Projects by Value
Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2017-2026
Table 8: Canada, Top Infrastructure Construction Projects by Value
Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-2026
Table 10: Canada, Top Energy and Utilities Construction Projects by Value
Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2017-2026
Table 12: Canada, Top Institutional Construction Projects by Value
Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2017-2026
Table 14: Canada, Top Residential Construction Projects by Value
Table 15: Canada, Key Contractors
Table 16: Canada, Key Consultants
Table 17: Canada, Construction Output Value (Real, $ Million)
Table 18: Canada, Construction Output Value (Nominal, CAD Million)
Table 19: Publisher Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: North America, Construction Output (Real % Change), 2020-2026
Figure 2: Canada, Construction Output by Sector (Real % Change), 2020-2022 and 2023-2026
Figure 3: Canada, COVID-19 Confirmed Cases
Figure 4: Canada, Risk Summary
Figure 5: Canada, Risk Regional Comparison
Figure 6: Canada, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-2026
Figure 7: Canada, Construction Output Value, by Sector (Real, $ Million), 2017-2026
Figure 8: Canada, Construction Value-Add (CAD Million, 2012 Constant Prices), Quarterly Average, Seasonally Adjusted at Annual Rates
Figure 9: Canada, Investments on Building Construction, in CAD Million, in Seasonally-Adjusted Constant Prices
Figure 10: Canada, Value of Building Permits Issued, in Seasonally-Adjusted Constant Prices, % Change YoY
Figure 11: Canada, Building Construction Prices Indices, 2017=100, % Change YoY
Figure 12: Canada, Construction Employment, In Thousands, In Seasonally Adjusted Terms
Figure 13: Canada, Construction Projects Momentum Index
Figure 14: Region, Construction Projects Momentum Index
Figure 15: Canada, Commercial Construction Output by Project Type (Real, $ Million), 2017-2026
Figure 16: Canada, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 17: Canada, Investment on Commercial Building Construction, in CAD Million, in Seasonally Adjusted Constant Prices
Figure 18: Canada, Value of Building Permits Issued for Commercial Buildings, in CAD Million, in Seasonally Adjusted Terms
Figure 19: Canada, Non-Resident Tourist Arrivals, In Thousands
Figure 20: Canada, Tourism Expenditure, in CAD Million
Figure 21: Canada, Retail Trade Sales, in CAD Million
Figure 22: Canada, Industrial Construction Output by Project Type (Real, $ Million), 2017-2026
Figure 23: Canada, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: Canada, Investment on Industrial Building Construction, in CAD Million, in Seasonally Adjusted Constant Prices
Figure 25: Canada, Value of Industrial Building Permits Issued, in CAD Million, in Seasonally Adjusted Terms
Figure 26: Canada, Manufacturing Value-add (CAD Million, 2012 Constant Prices), Quarterly Average Seasonally Adjusted at Annual Rates
Figure 27: Canada, Sales Value of Goods Manufactured and New Orders of Manufacturing, in CAD Million
Figure 28: Canada, Merchandise Exports, in CAD Million
Figure 29: Canada, Industrial Building Construction Price Index, 2017=100
Figure 30: Canada, Capacity Utilization Rate, In %
Figure 31: Canada, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-2026
Figure 32: Canada, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 33: Canada, Value-add of Civil Engineering and Other Construction Activities, (CAD Million, 2012 Constant Prices), Quarterly Average, Seasonally Adjusted at Annual Rates
Figure 34: Canada, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-2026
Figure 35: Canada, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: Canada, Capital Expenditure in the Oil and Gas Extraction Industries, in CAD Million, In Seasonally Adjusted Terms
Figure 37: Canada, Electric Power Generation, In GWh
Figure 38: Canada, Production of Crude Oil and Other Equivalent Products, YoY % Change
Figure 39: Canada, Institutional Construction Output by Project Type (Real, $ Million), 2017-2026
Figure 40: Canada, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: Canada, Investment on Institutional Building Construction, in CAD Million, In Seasonally-Adjusted Terms
Figure 42: Canada, Institutional Building Permits Issued, In CAD Million, In Seasonally-Adjusted Terms
Figure 43: Canada, Institutional Building Construction Price Index, 2017=100
Figure 44: Canada, Residential Construction Output by Project Type (Real, $ Million), 2017-2026
Figure 45: Canada, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 46: Canada, Investment on Residential Building Construction, in CAD Million, in Seasonally Adjusted Terms
Figure 47: Canada, Residential Building Permits Issued, in CAD Million, in Seasonally-Adjusted Terms
Figure 48: Canada, New Housing Price Index, 2016=100, % Change YoY
Figure 49: Canada, Housing Construction Started in Central Metropolitan Areas
Figure 50: Canada, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 51: Canada, Headquarters of Key Consultants (% of Total Project Pipeline)