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Vietnam Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

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    Report

  • 46 Pages
  • December 2024
  • Region: Vietnam
  • GlobalData
  • ID: 5765814

The Construction in Vietnam - Key Trends and Opportunities to 2028 (Q4 2024) report provides detailed market analysis, information and insights into the Vietnamese construction industry, including:

  • The Vietnamese 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 Vietnamese construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
Vietnam’s construction industry is estimated to expand by 7.2% in 2024, supported by government spending on housing, energy, and transportation infrastructure to alleviate the country's extreme congestion and growing housing shortage. However, the growth of the construction industry will be impacted by a slowing of the residential construction sector. A tightening of credit availability, high levels of debt, rising housing inventories, and legal bottlenecks have triggered a property crisis in the country. According to the Ministry of Construction, during the first half of 2024, 110 publicly listed real estate companies have accumulated unsold inventories valued at VND481.9 trillion ($20 billion), including 17,100 unsold housing units.

However, the weakness in the residential sector is set to be offset by an improvement in infrastructure and energy and utilities construction activity. The analyst expects Vietnam’s construction industry to register an annual average growth rate of 6.7% from 2025 to 2028, supported by the government’s efforts to develop transport and energy infrastructure in the country. Investment under Vietnam’s draft Power Development Plan Eight (PDP VIII) for the period of 2021-30, with a vision towards 2045, will support the construction industry’s output over the forecast period. Under the plan, Vietnam’s onshore wind power capacity is expected to reach 21.9GW by 2030; offshore wind power for new energy production to reach 15GW by 2035 and 24GW by 2050, solar power to reach 4.1GW by 2030 and 189.3GW by 2050, and hydropower is expected to reach 29.3GW by 2030.

Scope

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

  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Vietnam, 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 our 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 business strategies 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: Vietnam, Key Economic Indicators
Table 3: Vietnam, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Vietnam, Top Commercial Construction Projects by Value
Table 5: Vietnam, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Vietnam, Top Industrial Construction Projects by Value
Table 7: Vietnam, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Vietnam, Top Infrastructure Construction Projects by Value
Table 9: Vietnam, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Vietnam, Top Energy and Utilities Construction Projects by Value
Table 11: Vietnam, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Vietnam, Top Institutional Construction Projects by Value
Table 13: Vietnam, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Vietnam, Top Residential Construction Projects by Value
Table 15: Vietnam, Key Contractors
Table 16: Vietnam, Key Consultants
Table 17: Vietnam, Construction Output Value (Real, $ Million)
Table 18: Vietnam, Construction Output Value (Nominal, VND Trillion)
Table 19: the analyst 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), 2022-28
Figure 2: Vietnam, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Vietnam, Risk Summary
Figure 4: Vietnam, Risk Regional Comparison
Figure 5: Vietnam, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Vietnam, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Vietnam, Construction Value-Add, 2010 Constant Prices (VND Billion)
Figure 8: Vietnam, Total Credit Outstanding to Construction Sector (VND Trillion)
Figure 9: Vietnam, Construction Projects Momentum Index
Figure 10: South-East Asia, Construction Projects Momentum Index
Figure 11: Vietnam, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 12: Vietnam, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 13: Vietnam, Service Sector Value-Add, 2010 Constant Prices (VND Billion)
Figure 14: Vietnam, Total Retail Sales of Consumer Goods and Services (VND Trillion)
Figure 15: Vietnam, Total International Visitors (In Thousands)
Figure 16: Vietnam, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 17: Vietnam, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 18: Vietnam, Manufacturing Value-Add, 2010 Constant Prices (VND Billion)
Figure 19: Vietnam, Exports of Goods ($ Billion)
Figure 20: Vietnam, Total Credit Outstanding to Industrial Sector (VND Trillion)
Figure 21: Vietnam, Industrial Production Index, % Change YoY (2015=100)
Figure 22: Vietnam, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 23: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: Vietnam, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 25: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 26: Vietnam, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 27: Vietnam, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Vietnam, Education and Healthcare Value-add (2010 Constant Prices, VND Billion)
Figure 29: Vietnam, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 30: Vietnam, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: Vietnam, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 32: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 33: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)