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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, 2024-2028

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    Report

  • 49 Pages
  • June 2024
  • Region: Philippines
  • GlobalData
  • ID: 5767966
The Construction in the Philippines - Key Trends and Opportunities to 2028 (Q2 2024) report provides detailed market analysis, information, and insights into the Philippine construction industry, including :
  • The Philippines 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 construction industry in the Philippines is expected to expand by 7% in real terms in 2024, supported by increase in total approved foreign investments, especially for the energy and infrastructure projects. According to the latest figures from the Philippine Statistics Authority (PSA), the total incoming foreign investment approved by Investment Promotion Agencies (IPAs) increased sharply by 267.6% year-on-year (YoY) in 2023, increasing from PHP241.9 billion ($4.4 billion) in 2022 to PHP889.1 billion ($16.1 billion). Under the Fiscal Year (FY) 2024 National Budget (January 2024 to December 2024), PHP7.5 billion ($135.5 million) will be allocated for the modernization and expansion of 22 airports in the country.

The construction industry is expected to register an annual average growth rate of 7.1% between 2025 and 2028, supported by the government’s aim to increase the share of renewable energy in the total energy mix, from 24% in 2020 to 50% by 2040. According to the Department of Energy (DOE), as outlined in the National Renewable Energy Program, announced in September 2023, the country plans to develop an additional 20GW of renewable energy capacity by 2030 and to increase its share to 50% by 2040, amounting to around 52.8GW of renewable energy capacity.

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
8 About the Analyst9 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, Total Approved Foreign Investments (Current Prices, PHP Billion)
Figure 12: The Philippines, Construction Projects Momentum Index
Figure 13: South-East Asia, Construction Projects Momentum Index
Figure 14: The Philippines, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 15: The Philippines, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: The Philippines, Accommodation and Food Service Activities Value Add (PHP Billion, 2018 Constant Prices)
Figure 17: The Philippines, Wholesale and Retail Trade Value Add, at 2018 Constant Prices, % Change YoY
Figure 18: The Philippines, Loans Outstanding for Accommodation and Food Service Activities (PHP Billion)
Figure 19: The Philippines, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 20: The Philippines, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 21: The Philippines, Mining and Quarrying Value Add (PHP Billion, 2018 Constant Prices)
Figure 22: The Philippines, Manufacturing Value Add (PHP Billion, 2018 Constant Prices)
Figure 23: The Philippines, Loans Outstanding for Manufacturing (PHP Billion)
Figure 24: The Philippines, Total Exports ($ Billion)
Figure 25: The Philippines, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 26: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: The Philippines, Transportation and Storage Value Add (PHP Billion, 2018 Constant Prices)
Figure 28: The Philippines, Loans Outstanding for Transportation and Storage (PHP Billion)
Figure 29: The Philippines, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
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 (PHP Billion, 2018 Constant Prices)
Figure 32: The Philippines, Information and Communication Value Add (PHP Billion, 2018 Constant Prices)
Figure 33: The Philippines, Loans Outstanding for Electricity, Gas, Steam and Air-Conditioning Supply (PHP Billion)
Figure 34: The Philippines, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 35: The Philippines, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: The Philippines, Education Value Add (PHP Billion, 2018 Constant Prices)
Figure 37: The Philippines, Human Health and Social Work Activities Value Add (PHP Billion, 2018 Constant Prices)
Figure 38: The Philippines, Loans Outstanding for Education (PHP Billion)
Figure 39: The Philippines, Loans Outstanding for Human Health and Social Work Activities (PHP Billion)
Figure 40: The Philippines, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 41: The Philippines, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 42: The Philippines, Real estate and Ownership of Dwellings Value Add (PHP Billion, 2018 Constant Prices)
Figure 43: The Philippines, Loans Outstanding for Real Estate Activities (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)