Vietnam Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)
Description
Vietnam Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)
Summary
The construction industry in Vietnam is expected to grow by 6% in real terms in 2025, supported by an increase in public and private sector investment in housing and power construction projects, coupled with investments as part of the 2025 Budget. In December 2024, the National Assembly of Vietnam approved the 2025 budget, with an estimated expenditure of VND2.1 quadrillion ($86.3 billion), which marks an increase of 21.4% compared to 2024. The uncertainty of a trade war with the US is, however, expected to pose a downside risk to the industry’s output in the short term. In early April 2025, the US President Donald Trump imposed a massive 46% duty on imports from Vietnam, as part of a new wave of global impositions announced that week. President Trump’s tariffs on the Vietnamese imports are likely to impact the country’s GDP target of 8% this year, given that exports and foreign investment in manufacturing are key drivers of Vietnam's economy. On the other hand, if President Trump's tariff on Vietnamese goods causes a 10% drop in the country's shipments to the US, it could cut GDP growth by 0.84%. Although the tariffs are paused until July 2025, the uncertainty over the re-imposition of tariffs, could weigh on economic growth and construction industry’s output in 2025
GlobalData expects the construction industry in Vietnam to register an annual average growth rate of 7.1% from 2026 to 2029, supported by the Ministry of Industry and Trade’s strategy to produce 20 million tonnes of hydrogen per year by 2050, coupled with government investments in transport infrastructure, and housing projects. In April 2025, the Vietnamese government announced that it plans to begin construction on nine major railway lines, estimated at VND1.8 quadrillion ($67 billion), before 2030. Indeed, this is in line with the government’s aim to modernize and expand its rail network significantly.
GlobalData’s Construction in Vietnam - Key Trends and Opportunities to 2029 (Q2 2025) report provides detailed market analysis, information, and insights into the Vietnamese construction industry, including -
This report provides a comprehensive analysis of the construction industry in Vietnam. It provides -
Summary
The construction industry in Vietnam is expected to grow by 6% in real terms in 2025, supported by an increase in public and private sector investment in housing and power construction projects, coupled with investments as part of the 2025 Budget. In December 2024, the National Assembly of Vietnam approved the 2025 budget, with an estimated expenditure of VND2.1 quadrillion ($86.3 billion), which marks an increase of 21.4% compared to 2024. The uncertainty of a trade war with the US is, however, expected to pose a downside risk to the industry’s output in the short term. In early April 2025, the US President Donald Trump imposed a massive 46% duty on imports from Vietnam, as part of a new wave of global impositions announced that week. President Trump’s tariffs on the Vietnamese imports are likely to impact the country’s GDP target of 8% this year, given that exports and foreign investment in manufacturing are key drivers of Vietnam's economy. On the other hand, if President Trump's tariff on Vietnamese goods causes a 10% drop in the country's shipments to the US, it could cut GDP growth by 0.84%. Although the tariffs are paused until July 2025, the uncertainty over the re-imposition of tariffs, could weigh on economic growth and construction industry’s output in 2025
GlobalData expects the construction industry in Vietnam to register an annual average growth rate of 7.1% from 2026 to 2029, supported by the Ministry of Industry and Trade’s strategy to produce 20 million tonnes of hydrogen per year by 2050, coupled with government investments in transport infrastructure, and housing projects. In April 2025, the Vietnamese government announced that it plans to begin construction on nine major railway lines, estimated at VND1.8 quadrillion ($67 billion), before 2030. Indeed, this is in line with the government’s aim to modernize and expand its rail network significantly.
GlobalData’s Construction in Vietnam - Key Trends and Opportunities to 2029 (Q2 2025) report provides detailed market analysis, information, and insights into the Vietnamese construction industry, including -
- The Vietnamese 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 Vietnamese construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Vietnam. It provides -
- Historical (2020-2024) and forecast (2025-2029) 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
- 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
46 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
- 8 About GlobalData
- 9 Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Vietnam, Key Economic Indicators
- Table 3: Vietnam, Commercial Construction Output by Project Type (Real % Change), 2020–29
- Table 4: Vietnam, Top Commercial Construction Projects by Value
- Table 5: Vietnam, Industrial Construction Output by Project Type (Real % Change), 2020–29
- Table 6: Vietnam, Top Industrial Construction Projects by Value
- Table 7: Vietnam, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
- Table 8: Vietnam, Top Infrastructure Construction Projects by Value
- Table 9: Vietnam, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
- Table 10: Vietnam, Top Energy and Utilities Construction Projects by Value
- Table 11: Vietnam, Institutional Construction Output by Project Type (Real % Change), 2020-29
- Table 12: Vietnam, Top Institutional Construction Projects by Value
- Table 13: Vietnam, Residential Construction Output by Project Type (Real % Change), 2020-29
- Table 14: Vietnam, Top Residential Construction Projects by Value
- Table 15: Vietnam, Key Contractors
- Table 16: Vietnam, Key Consultants
- Table 17: Vietnam, Construction Output Value (Real, $ Million)
- Table 18: Vietnam, Construction Output Value (Nominal, VND Trillion)
- Table 19: GlobalData Construction Market Definitions
- Table 20: Risk Dimensions
- Table 21: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Vietnam, Construction Output (Real % Change), 2023–29
- Figure 2: Vietnam, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 3: Vietnam, Risk Summary
- Figure 4: Vietnam, Risk Regional Comparison
- Figure 5: Vietnam, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 6: Vietnam, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 7: Vietnam, Construction Value-Add, 2010 Constant Prices (VND Billion)
- Figure 8: Vietnam, Total Credit Outstanding to Construction Sector (VND Trillion)
- Figure 9: Vietnam, Construction Projects Momentum Index
- Figure 10: South-East Asia, Construction Projects Momentum Index
- Figure 11: Vietnam, Commercial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 12: Vietnam, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 13: Vietnam, Service Sector Value-Add, 2010 Constant Prices (VND Billion)
- Figure 14: Vietnam, Industrial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 15: Vietnam, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 16: Vietnam, Manufacturing Value-Add, 2010 Constant Prices (VND Billion)
- Figure 17: Vietnam, Exports of Goods ($ Billion)
- Figure 18: Vietnam, Total Credit Outstanding to Industrial Sector (VND Trillion)
- Figure 19: Vietnam, Industrial Production Index, % Change YoY (2015=100)
- Figure 20: Vietnam, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 21: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: Vietnam, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 23: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 24: Vietnam, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 25: Vietnam, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 26: Vietnam, Education and Healthcare Value-add (2010 Constant Prices, VND Billion)
- Figure 27: Vietnam, Residential Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 28: Vietnam, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 29: Vietnam, Real Estate Business Value-Add (2010 Constant Prices, VND Billion)
- Figure 30: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 31: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)
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