Forecast: Construction Value Added in China

The construction value added in China stood at 1006.4 Billion US Dollars in 2023. Over the last two years, from 2021 to 2023, the year-on-year growth rates were stable at around 3.4%, showing a moderate but steady increase. Analyzing the five-year period from 2018 to 2023 reveals a compound annual growth rate (CAGR) of 3.83%, indicating sustained growth in the construction sector.

Looking ahead, forecasted data suggests that by 2028, the construction value added will reach 1162.4 Billion US Dollars, with an expected five-year CAGR of 2.27%. This points to a continued growth trajectory albeit at a slower rate, with an anticipated five-year growth rate of 11.89%.

Future trends to watch for include:

• Infrastructure investments driven by government policies to stimulate economic growth.
• Urbanization trends which will continue to demand significant construction and development projects.
• Technological advancements in construction, such as 3D printing and smart building technologies, which can improve efficiency and reduce costs.
• Sustainable construction practices becoming more prevalent as environmental concerns rise.