In any country, the construction industry is significant, serving as a pillar of the economy while having a direct impact on the quality of life and urban landscape. According to the publisher, the industry's prosperity often reflects the nation's economic health and stage of development. In addition, its growth influences other sectors such as real estate, manufacturing, and finance, and thus has an impact on the broader economy. Therefore, the construction industry typically occupies a prominent position and exerts considerable influence within a country.
India's construction industry is experiencing a remarkable surge, fueled by the government's emphasis on infrastructure development, increased foreign investment, rapid urbanization, and the sector's own expansion. The momentum is further supported by Budget 2023, which prioritized the construction sector with a substantial allocation of nearly Rs. 10 trillion (US$ 120.5 billion) for infrastructure. In addition, the government's simplification of GST aims to strengthen the real estate sector, making it more resilient and accessible.
The publisher forecasts significant growth in the construction sector in 2023, primarily driven by government investments aimed at completing large infrastructure projects before the 2024 elections. In addition, investments in power, transportation, and housing projects are expected to further stimulate industry expansion in the following years. Moreover, the focus on investments in the renewable energy sector is in line with the government's target to increase renewable energy capacity by 2030, promising additional growth opportunities for the sector.
Foreign direct investment (FDI) is another key growth driver, with the government's liberalization policy allowing 100% FDI in almost all construction sectors. This move has made real estate the third largest sector for FDI inflows. Notably, between April 2000 and September 2022, India's construction sector attracted $26 billion in FDI for development purposes, with an additional $29 billion going into construction activities.
According to the publisher, the market size of India's construction industry is estimated to be around $778 billion in 2023. It is projected to grow at a compound annual growth rate of 6% from 2024 to 2033, reaching US$ 1.393 trillion in 2033.
Topics covered:
- India Construction Industry Overview
- The economic and policy environment of the construction industry in India
- India construction industry market size, 2024-2033
- Analysis of major India construction industry manufacturers
- Key Drivers and Market Opportunities in India's Construction Industry
- What are the key drivers, challenges and opportunities for the construction industry in India during the forecast period 2024-2033?
- Which companies are the key players in the India construction industry market and what are their competitive advantages?
- What is the expected revenue of India construction industry market during the forecast period of 2024-2033?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of the India construction industry market is expected to dominate the market in 2032?
- What are the main negative factors facing the construction industry in India?
Table of Contents
Companies Mentioned
- Larsen & Toubro Ltd.
- Reliance Infrastructure Ltd.
- Macrotech Developers Pvt Ltd (Lodha Group)
- Punj Lloyd Ltd
- Sadbhav Engineering Ltd
- Tata Projects Ltd.
- Hindustan Construction Company (HCC)
- Nagarjuna Construction Company (NCC)
- Gammon India Ltd
- KEC International Ltd.
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 60 |
| Published | February 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 824.68 Billion |
| Forecasted Market Value ( USD | $ 1393.28 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | India |
| No. of Companies Mentioned | 10 |
