Canada Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Canada Construction Market Report Overview
The Canada construction market size was $351.1 billion in 2023. The market will achieve an AAGR of more than 2% during 2025-2028. Over the forecast period, the market growth can be attributed to the developments in the energy, transport, industrial, and residential sectors.
Canada Construction Market Outlook, 2023-2028 ($ Billion)
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The Canada construction market research report gives a comprehensive understanding of project types and construction activities in the country. The report analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. Furthermore, the market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the Canada construction market growth in the coming years.
Market Size (2023) | $351.1 billion |
AAGR (2025-2028) | >2% |
Forecast Period | 2023-2028 |
Historical Period | 2019-2022 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Key Contractors | · Fluor
· SNC-Lavalin Group Inc (AtkinsRealis) · Aecon Group · Kiewit · PCL Constructors |
Key Consultants | · WSP Global
· SNC-Lavalin Group (AtkinsRealis) · Stantec · AECOM · Golder Associates |
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Canada Construction Market Segmentation by Sectors
The residential construction sector accounted for the highest market share in the Canada construction market in 2023
The key sectors in the Canada construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Over the forecast period, investments in data centers, offices, and sports buildings will support the commercial sector’s output.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. Growth during the forecast period can be attributed to investment in mining, industrial, and manufacturing sectors.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Over the forecast period, investments from both federal and regional governments, as they look to develop the transportation network, will support the sector’s growth.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The government’s aim to reduce greenhouse gas (GHG) emissions by 40-45% by 2030, while also achieving net-zero GHG emissions by 2050 will support the sector’s growth over the forecast period.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The sector’s growth during the forecast period can be attributed to rising healthcare demand.
Residential construction: The project types in this sector include single-family housing and multi-family housing. Over the forecast period, growth can be attributed to the government’s emphasis on affordable housing construction.
Canada Construction Market Analysis by Sectors, 2023 (%)
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Canada Construction Market - Competitive Landscape
Fluor emerged as the leading contractor and WSP Global was the leading consultant in the Canada construction market in 2023
A few of the leading contractors in the Canada construction market are:
- Fluor
- SNC-Lavalin Group Inc (AtkinsRealis)
- Aecon Group
- Kiewit
- PCL Constructors
Domestic contractors account for a majority of the project pipeline in the Canada construction market.
Canada Construction Market Analysis by Contractors, 2023 (%)
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A few of the leading consultants in the Canada construction market are:
- WSP Global
- SNC-Lavalin Group (AtkinsRealis)
- Stantec
- AECOM
- Golder Associates
Consultants with headquarters in Canada are involved in most of the project pipeline by value.
Canada Construction Market Analysis by Consultants, 2023 (%)
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Canada Construction Market - Latest Developments
- The largest industrial project in the pipeline is the Ontario Nuclear Waste Repository project, which involves the construction of an underground waste storage facility in Ontario, Canada.
- The largest institutional project in the pipeline is the Center Block Rehabilitation Project. It involves the renovation of the center block building, the upgradation of committee rooms, and the construction of a new parliament welcome center.
Segments Covered in the Report
Canada Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides a comprehensive analysis of the construction industry in Canada. It provides:
- Historical and forecast 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 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.
Table of Contents
Table
Figures
Frequently asked questions
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What was the construction market size in Canada in 2023?
The construction market size in Canada was $351.1 billion in 2023.
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What will the Canada construction market growth rate be during the forecast period?
The construction market in Canada is projected to achieve an AAGR of more than 2% during 2025-2028.
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Which sector accounted for the highest share of the Canada construction market in 2023?
The residential construction sector accounted for the highest market share in the Canada construction market in 2023.
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Which are the leading contractors in the Canada construction market?
A few of the leading contractors in the Canada construction market are Fluor, SNC-Lavalin Group Inc (AtkinsRealis), Aecon Group, Kiewit, and PCL Constructors.
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Which are the leading consultants in the Canada construction market?
A few of the leading consultants in the Canada construction market are WSP Global, SNC-Lavalin Group (AtkinsRealis), Stantec, AECOM, and Golder Associates.
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