Construction in Vietnam - Key Trends and Opportunities to 2023

Construction in Vietnam - Key Trends and Opportunities to 2023

Summary

Vietnam’s construction industry registered a growth of 8.5% in real terms in 2018, with the industry’s output value - measured at constant 2017 US dollar exchange rates - increasing from US$53.0 billion in 2017 to US$57.5 billion in 2018. This was preceded by an average annual growth of 9.3% during the preceding four years. Growth during the review period (2014-2018) was driven by positive developments in regional economic conditions and government investment in energy and transport infrastructure. The industry’s output value is expected to continue to expand in real terms over the forecast period (2019-2023), with investments in infrastructure construction, tourism infrastructure and housing projects continuing to drive growth. According to the government’s estimates, the country requires an investment of VND1.0 quadrillion (US$48.0 billion) until 2023 to develop its transport infrastructure.

The trade war between the US and China is also expected to divert foreign investment towards Vietnam, and cause the country to emerge as an attractive destination for the manufacturing industry, which could have a positive impact on construction industry. According to the General Statistics Office of Vietnam (GSO), the total number of licensed foreign direct investment (FDI) projects in the country grew by 17.6%, going from 2,591 in 2017 to 3,046 in 2018; this was preceded by an annual growth of 3.5% in 2017. In addition, the government’s aim to improve local energy resources is expected to support investment in energy infrastructure projects, which will in turn fuel growth in the industry.

The industry’s output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 7.87% over the forecast period. The industry is consequently expected to rise from a value of US$57.5 billion in 2018 to US$84.0 billion in 2023, measured at constant 2017 US dollar exchange rates. Accounting for 44.2% of the industry’s total value in 2018, residential construction was the largest market in the Vietnamese construction industry during the review period. The market is expected to follow a similar trend over the forecast period, with residential construction accounting for 42.6% of the industry’s total value in 2023. Infrastructure construction accounted for 22.6% of the industry’s total output in 2018, followed by energy and utilities construction with 13.6%, industrial construction with 8.9%, commercial construction with 7.4% and institutional construction with 3.2%.

The report Construction in Vietnam - Key Trends and Opportunities to 2023, report provides detailed market analysis, information and insights into the Vietnamese construction industry.

Scope

This report provides a comprehensive analysis of the construction industry in Vietnam. It provides -

  • Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Vietnam, 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.


    • Executive Summary
    • Construction Outlook: At-a-glance
      • Table Construction Outlook
      • Table Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
      • Table Figure 2:Vietnam, Construction Projects Pipeline by Sector (VND Trillion)
    • Latest News and Indicators
    • Key Drivers and Risks
      • Economic Performance
        • Table Vietnam, Key Economic Indicators
      • Political Environment
      • Demographics
      • Risk Profile
        • Table Figure 3:Vietnam, Risk Profile
        • Table Figure 4:Vietnam, Risk Comparison
    • Construction Outlook
      • All Construction
        • Outlook
          • Table Figure 5:Vietnam, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
          • Table Figure 6:Vietnam, Construction Output Value, Growth Matrix
          • Table Figure 7:Vietnam, Construction Output Value, by Sector (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 8: Vietnam, Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018–2023
          • Table Figure 9: Vietnam, Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Vietnam, Construction Output Value (nominal, VND Billion)
          • Table Vietnam, Construction Output Value (nominal, US$ Million)
      • Commercial Construction
        • Outlook
          • Table Figure 10: Vietnam, Commercial Construction Output by Project Type (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 11: Vietnam, Commercial Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Figure 12: Vietnam, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018– 2023
          • Table Vietnam, Top Commercial Construction Projects by Value
      • Industrial Construction
        • Outlook
          • Table Figure 13: Vietnam, Industrial Construction Output by Project Type (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 14: Vietnam, Industrial Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Figure 15: Vietnam, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018–2023
          • Table Vietnam, Top Industrial Construction Projects by Value
      • Infrastructure Construction
        • Outlook
          • Table Figure 16: Vietnam, Infrastructure Construction Output by Project Type (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 17: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Figure 18: Vietnam, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018– 2023
          • Table Vietnam, Top Infrastructure Construction Projects by Value
      • Energy and Utilities Construction
        • Outlook
          • Table Figure 19: Vietnam, Energy and Utilities Construction Output by Project Type (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 20: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Figure 21: Vietnam, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018–2023
          • Table Vietnam, Top Energy and Utilities Construction Projects by Value
      • Institutional Construction
        • Outlook
          • Table Figure 22: Vietnam, Institutional Construction Output by Project Type (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 23: Vietnam, Institutional Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Figure 24: Vietnam, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018– 2023
          • Table Vietnam, Top Institutional Construction Projects by Value
      • Residential Construction
        • Outlook
          • Table Figure 25: Vietnam, Residential Construction Output by Project Type (VND Billion), 2014–2023
        • Project analytics
          • Table Figure 26: Vietnam, Residential Construction Projects Pipeline, Value by Stage (VND Billion)
          • Table Figure 27: Vietnam, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (VND Billion), 2018–2023
          • Table Vietnam, Top Residential and Mixed-Use Construction Projects by Value
    • Key Industry Participants
      • Contractors
        • Table Vietnam, Key Contractors
        • Table Figure 28: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)
        • Table Figure 29: Vietnam, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
      • Consultants
        • Table Vietnam, Key Consultants
        • Table Figure 30: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)
        • Table Figure 31: Vietnam, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
    • Appendix
      • What is this Report About?
      • Definitions
        • Table GlobalData Construction Market Definitions
        • Table Construction Risk Index Ratings and Scores
    • About GlobalData
      • GlobalData at a Glance
        • Table Figure 32: GlobalData at a Glance
      • GlobalData Construction
      • Disclaimer
      • Contact Us

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