China Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

May 2022
57 pages
ID: 6278090
Format: PDF
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China Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Summary
The construction industry in China registered an annual growth of 2.1% in real terms last year, which is attributed to the slowdown in China’s real estate industry, amid a tightening of regulatory controls to limit debt growth of real estate developers. The analyst expects the construction industry to record a growth of 4% this year, following a significant acceleration of infrastructure spending. According to the National Bureau of Statistics (NBS), the industry’s value add index grew by 1.4% year on year (YoY) in Q1 2022, preceded by Y-o-Y declines of 2.1% in Q4 and 1.8% in Q3 2021. According to the Ministry of Commerce (MOFCOM), mainland China attracted CNY379.87 billion ($59.1 billion) in foreign direct investment (FDI) in Q1 2022 - up by 25.6% compared to Q1 2021. A downside risk to the industry’s outlook, however, is the weakening of investor and consumer confidence amid the imposition of strict Coronavirus (COVID-19) restrictions in several provinces, coupled with supply chain disruptions amid external uncertainty arising from the Russia-Ukraine conflict.
Between January and mid-April 2022, the National Development and Reform Commission (NDRC) approved 32 fixed-asset investment projects worth CNY520 billion ($80.9 billion), mainly in the transport, water conservancy, energy and high-tech sectors. According to the NDRC, the total investment volume for newly commenced projects in the first quarter of 2022 grew by 54.9% YoY. Furthermore, in mid-April 2022, the government issued the CNY3.65 trillion ($567.6 billion) special purpose bond (SPB) quota for 2022, through which local governments can fund infrastructure development.

The Chinese construction industry is expected to register an annual average growth of 4.5% from 2023 to 2026, supported by investments on infrastructure projects as part of the 14th Five-Year Plan (2021-25), which involves the development of various sectors, including transport, health and education, energy and manufacturing, among others. As part of the plan, in September 2021, the government announced an investment of CNY1.1 trillion ($154.9 billion) on the expansion of the railway network in the Yangtze River Delta (YRD) region, as well as CNY400 billion ($58.6 billion) on highways in the Xinjiang region. According to the National Rail Operator, China completed the construction of 233km of new high-speed rail in the first quarter of 2022, with progress being made on the preliminary work of key projects linking Northwest China’s Xinjiang Uygur Autonomous Region and Southwest China’s Xizang Autonomous Region, China Railway. Additionally, the government announced its plans to build 6.5 million government-subsidized rental homes in 40 key cities by 2025, in order to accommodate 13 million people in need of affordable housing. However, downside risks to the outlook are substantial, including the restrictions on real estate developers, poor consumer confidence in the housing market and the impact of falling land sales revenue on local government revenues. China’s aim to reach peak carbon dioxide emissions before 2030 and reach carbon neutrality before 2060 will also support growth over the forecast period. To achieve this, the China Development Bank announced plans in June 2021 to provide financing worth CNY500 billion ($73.2 billion) by 2025, in support of renewable energy projects.

The report provides detailed market analysis, information and insights into the Chinese construction industry, including -
- The Chinese 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 Chinese construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

Scope
This report provides a comprehensive analysis of the construction industry in China.

It provides -
- Historical (2016-2021) and forecast (2021-2026) valuations of the construction industry in China, 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
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- 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 critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

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