In 2023, the construction output in Japan stood at 69.25 trillion Japanese Yen. The forecasted data indicates a steady increase in construction output over the next five years. Specifically, the year-on-year growth rates are as follows:
- 2024: 1.13% increase from 2023
- 2025: 1.15% increase from 2024
- 2026: 1.13% increase from 2025
- 2027: 1.10% increase from 2026
- 2028: 1.08% increase from 2027
The average annual growth rate (CAGR) over the 2024-2028 period is forecasted at 1.12%.
Future trends to watch for in the Japanese construction industry include technological advancements in construction techniques, increased investment in sustainable and green building projects, and potential impacts of government policy changes on infrastructure spending. Global economic conditions and aging population trends will also play crucial roles in shaping the construction market landscape.
