Construction in China - Key Trends and Opportunities to 2023

Construction in China - Key Trends and Opportunities to 2023

Summary

China’s construction industry is expected to expand at a relatively slower pace over the forecast period (2019-2023), as the government steadily shifts away from a policy of driving economic growth by investing huge sums in infrastructure developments. The heady days of double-digit growth in China’s construction industry have long gone, with the authorities reining in excessive debt-driven investment in infrastructure and urban development.The construction industry in China grew by 4.5% in real terms in 2018, up marginally from 4.3% in 2017; increasing from US$3.2 trillion in 2017 to US$3.3 trillion in 2018, measured at constant 2017 US dollar exchange rates. This growth was driven by investment in real estate and an increase in fixed asset investment. In 2018, fixed-asset investment grew by 5.9% compared to 2017, and the National Development and Reform Commission (NRDC) approved 189 fixed-asset investment projects, particularly in the energy, transport and water infrastructure sectors.The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 4.54% over the forecast period, compared to 5.69% during the review period. The industry is consequently expected to rise from a value of US$3.3 trillion in 2018 to US$4.1 trillion in 2023, measured at constant 2017 US dollar exchange rates.Residential construction was the largest market in the Chinese construction industry during the review period, accounting for 48.4% of its total value in 2018. The market is expected to account for 43.3% of the industry’s total value in 2023. Infrastructure construction accounted for 15.6% of the industry’s total output in 2018, followed by energy and utilities construction with 14.1%, commercial construction with 10.9%, industrial construction with 6.5% and institutional construction with 4.6%.The total construction project pipeline in China including all mega projects with a value above US$25 million - stands at CNY21.4 trillion (US$3.2 trillion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards late-stage projects, with 77.4% of the pipeline value being in projects in the pre-execution and execution stages as of November 2019.The report “Construction in China - Key Trends and Opportunities to 2023” provides detailed market analysis, information and insights into the Chinese construction industry, including -

  • Historical (2014-2018) and forecast (2019-2023) 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
Scope

This report provides a comprehensive analysis of the construction industry in China. It provides -
  • Historical (2014-2018) and forecast (2019-2023) 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
  • Identify and evaluate market opportunities using GlobalData's 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 strategy using GlobalData's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.


1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5 Construction Outlook
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6 Key Industry Participants
6.1. Contractors
6.2. Consultants
7 Appendix
7.1. What is this Report About?
7.2. Definitions
8 About GlobalData
8.1. GlobalData at a Glance
8.2. GlobalData Construction
8.3. Disclaimer
8.4. Contact Us
List of Tables
Table 1: Construction Outlook
Table 2: China, Key Economic Indicators
Table 3: China, Construction Output Value (nominal, CNY Billion)
Table 4: China, Construction Output Value (nominal, US$ Billion)
Table 5: China, Top Commercial Construction Projects by Value
Table 6: China, Top Industrial Construction Projects by Value
Table 7: China, Top Infrastructure Construction Projects by Value
Table 8: China, Top Energy and Utilities Construction Projects by Value
Table 9: China, Top Institutional Construction Projects by Value
Table 10: China, Top Residential and Mixed-Use Construction Projects by Value
Table 11: China, Key Contractors
Table 12: China, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores
List of Figures
Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: China, Construction Projects Pipeline by Sector CNY Billion
Figure 3: China, Value of New Contracts Signed by Construction Enterprises (CNY Billion)
Figure 4: China, Risk Profile
Figure 5: China, Risk Comparison Review
Figure 6: China, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 7: China, Construction Output Value, Growth Matrix
Figure 8: China, Construction Output Value, by Sector (CNY Million), 2014-2023
Figure 9: China, Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 10: China, Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 11: China, Commercial Construction Output by Project Type (CNY Million), 2014-2023
Figure 12: China, Commercial Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 13: China, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 14: China, Industrial Construction Output by Project Type (CNY Million), 2014-2023
Figure 15: China, Industrial Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 16: China, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 17: China, Infrastructure Construction Output by Project Type (CNY Million), 2014-2023
Figure 18: China, Infrastructure Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 19: China, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 20: China, Energy and Utilities Construction Output by Project Type (CNY Million), 2014-2023
Figure 21: China, Energy and Utilities Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 22: China, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 23: China, Institutional Construction Output by Project Type (CNY Million), 2014-2023
Figure 24: China, Institutional Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 25: China, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 26: China, Residential Construction Output by Project Type (CNY Million), 2014-2023
Figure 27: China, Residential Construction Projects Pipeline, Value by Stage (CNY Million)
Figure 28: China, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (CNY Million), 2018-2023
Figure 29: China, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 30: China, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 31: China, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 32: China, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)

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