Canada Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecasts, 2022-2026
GlobalData expects the Canadian construction industry to expand by 1.7% in real terms this year, amid soaring energy prices and disruptions in the supply of key construction materials amid the Russia-Ukraine conflict. According to Statistics Canada, the construction industry’s value add grew by just 2% year on year (YoY) in the first nine months of the year, following an annual growth of 6.1% in 2021. During the same period, building activity is sluggish, with the investment in building construction falling by 3.6%, of which residential building construction fell by 5.4%, while non-residential building grew marginally by 0.9%.
Over the remainder of the forecast period, the industry is expected to register an annual average growth of 2.2% during 2023-26, supported by investment in housing, transport and energy infrastructure projects. The infrastructure sector will be supported by Federal and Local Government investment in upgrading the country’s transport infrastructure. In March 2022, the province of Ontario unveiled its 30-year transit plan to develop a transportation network focusing on building new highways, rail corridors and subway systems, as well as widening and expanding the existing highways. Over the next ten years, the government plans to spend CAD84.7 billion ($66.2 billion) on the 30-year transit plan. The energy sector will be supported by the government’s plan to reduce Greenhouse Gas (GHG) emissions by 40-45% by 2030 and to achieve net-zero GHG emissions by 2050.
The 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.
Scope
This report provides a comprehensive analysis of the construction industry in Canada. It provides –
– Historical (2017-2021) and forecast (2022-2026) 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
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