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Canada Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Publisher GlobalData
Published Dec 31, 2024
Length 57 Pages
SKU # GBDT19550463

Description

Canada Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Summary

GlobalData’s Construction in Canada - Key Trends and Opportunities to 2028 (Q4 2024) report provides detailed market analysis, information and insights into the Canadian construction industry, including -
  • The Canadian 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 Canadian construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
GlobalData estimates the Canadian construction industry will contract by 1.8% in real terms in 2024, owing in part to a continued slowdown in the residential construction sector. The sector has been impacted by high construction prices, exaggerated by construction labor shortages, as well as rising household debt, lowering housing demand and regulatory delays. According to Statistics Canada, the total value of investment in single dwelling construction fell by 4.4% year-on-year (YoY) in January-September 2024, this comes after an annual decline of 17.3% in 2023. While construction employment in the country has also faced decline, falling by 0.3% in the first 11 months of 2024. This undid a previous increase in the construction labor market in 2023 caused by elevated immigration causing a 1.9% annual rise in construction employment, as per Statistics Canada reports. The slowdown in the construction industry can also be evidenced declining building permits issued. The total value of building permits issued declined marginally by 0.7% during January-September 2024, following an annual decline of 7% in 2023.

The problems in the Canadian construction market have been endemic of the Canadian economy, with elevated interest rates and low demand and low business confidence weighing on growth. Following multiple interest rate cuts by the Bank of Canada across 2024, the last of which was a 50 BPS cut in early December, bringing rate down to 3.25%, this should encourage demand to increase throughout the economy leading to a more positivity in 2025.

GlobalData then expects the construction industry in Canada to recover at an annual average rate of 2.8% from 2025 to 2028, supported by investments in transport, renewable energy, as well water and sewage infrastructure projects. For example, the government of Ontario has announced that it plans to invest CAD28 billion ($21 billion) to repair, build and expand roads and highways in the province by 2033

Scope

This report provides a comprehensive analysis of the construction industry in Canada. It provides -
  • Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Canada, 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 our 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 business strategies using GlobalData's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Table of Contents

57 Pages
1 Executive Summary
2 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
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Israel, Key Economic Indicators
Table 3: Israel, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Israel, Top Commercial Construction Projects by Value
Table 5: Israel, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Israel, Top Industrial Construction Projects by Value
Table 7: Israel, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Israel, Top Infrastructure Construction Projects by Value
Table 9: Israel, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Israel, Top Energy and Utilities Construction Projects by Value
Table 11: Israel, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Israel, Top Institutional Construction Projects by Value
Table 13: Israel, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Israel, Top Residential Construction Projects by Value
Table 15: Israel, Key Contractors
Table 16: Israel, Key Consultants
Table 17: Israel, Construction Output Value (Real, $ Million)
Table 18: Israel, Construction Output Value (Nominal, ILS Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: North America, Construction Output (Real % Change), 2022-28
Figure 2: Canada, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Canada, Risk Summary
Figure 4: Canada, Risk Regional Comparison
Figure 5: Canada, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Canada, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Canada, Construction Value-Add (CAD Million, 2012 Constant Prices), Quarterly Average, Seasonally Adjusted at Annual Rates
Figure 8: Canada, Investment in Building Construction (CAD Million, Seasonally Adjusted Constant Prices)
Figure 9: Canada, Value of Building Permits Issued, in Seasonally Adjusted Constant Prices, % Change YoY
Figure 10: Canada, Construction Employment, In Thousands, In Seasonally Adjusted Terms
Figure 11: Canada, Building Construction Prices Indices, 2017=100, % Change (YoY)
Figure 12: Canada, Construction Projects Momentum Index
Figure 13: North America, Construction Projects Momentum Index
Figure 14: Canada, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 15: Canada, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: Canada, Investment on Commercial Building Construction (CAD Million, Seasonally Adjusted Constant Prices)
Figure 17: Canada, Value of Building Permits Issued for Commercial Buildings (CAD Million, Seasonally Adjusted Terms)
Figure 18: Canada, Number of Non-Resident Visitors Entering the Country, In Thousands
Figure 19: Canada, Retail Trade Sales (CAD Million)
Figure 20: Canada, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 21: Canada, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 22: Canada, Manufacturing Value-add, Quarterly Average Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)
Figure 23: Canada, Investment on Industrial Building Construction (CAD Million, Seasonally Adjusted Constant Prices)
Figure 24: Canada, Value of Building Permits Issued for Industrial Buildings (CAD Million, Seasonally Adjusted Terms)
Figure 25: Canada, Sales Value of Goods Manufactured and New Orders of Manufacturing (CAD Million)
Figure 26: Canada, Merchandise Exports (CAD Million)
Figure 27: Canada, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 28: Canada, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Canada, Value-add of Civil Engineering and Other Construction Activities, Quarterly Average, Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)
Figure 30: Canada, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 31: Canada, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 32: Canada, Capital Expenditure in the Oil and Gas Extraction Industries (CAD Million, In Seasonally Adjusted Terms)
Figure 33: Canada, Electric Power Generation, In GWh
Figure 34: Canada, Production of Crude Oil and Other Equivalent Products, YoY % Change
Figure 35: Canada, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 36: Canada, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 37: Canada, Investment on Institutional Building Construction (CAD Million, In Seasonally Adjusted Terms)
Figure 38: Canada, Institutional Building Permits Issued (CAD Million, Seasonally Adjusted Terms)
Figure 39: Canada, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 40: Canada, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 41: Canada, Value-add of Residential Building, Quarterly Average, Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)
Figure 42: Canada, Investment on Residential Building Construction (CAD Million, Seasonally Adjusted Terms)
Figure 43: Canada, Residential Building Permits Issued (CAD Million, Seasonally Adjusted Terms)
Figure 44: Canada, New Housing Price Index, 2016=100
Figure 45: Canada, Housing Construction Started in Census Metropolitan Areas
Figure 46: Canada, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 47: Canada, Headquarters of Key Consultants (% of Total Project Pipeline)

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