Canada Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

$1495
Buy Report View Sample

Published: March 29, 2024 Report Code: GDCN1351MR-ST

Select Item

Executive summary from the report: The construction industry in Canada is expected to decline by 3.1% in real terms in 2024, amid high construction prices, a shortage of skilled labour, monetary tightening, and a fall in building permits. According to Statistics Canada, the total value of building permits issued in the country declined by 8.8% in 2023, with the number for residential buildings falling by 15.4% during that period. The negative growth is also attributed to the cessation and delays of construction activity of various projects. For instance, in December 2023, the local energy company World Energy GH2, reported that its CAD16 billion ($12 billion) hydrogen plant – which was originally scheduled to be completed by 2025 – is now facing delays due to construction and financing contingencies. The project is now expected to be completed by 2026.

GlobalData expects the Canadian construction industry to rebound at an annual average rate of 2.3% during 2025-28, supported by developments in the energy, transport, industrial, and residential sectors. Growth will also be supported by the government’s plan to achieve 100% zero-emission vehicle sales by 2035, including interim targets of at least 20% by 2026 and at least 60% by 2030. In January 2024, the Japanese automobile manufacturer, Honda, reported that it is planning to build an electric vehicle (EV) plant in Ontario, costing a total of CAD18.4 billion ($13.8 billion) by 2028. In another boost to the industry’s output, in November 2023, the government launched the CAD2 billion ($1.5 billion) Critical Minerals Infrastructure Fund, aimed at supporting mineral extraction and production in the country and providing funding until 2031. Additionally, in February 2024, the Minister of Energy and Natural Resources announced plans to boost mining activities in the country by slashing the permit time from 12-15 years to 5 years.

The industry’s growth over the forecast period will also be supported by investments in public housing projects, in line with the government’s target to build 5.8 million houses by 2030. Among the recent developments, in February 2024, the government announced funding of CAD2 billion ($1.5 billion) for financing and accelerating the housing construction. Previously in December 2023, the Royal Bank of Canada announced CAD9.3 billion ($7 billion) for financing affordable housing construction across Canada. Furthermore, in February 2024, the British Colombia government announced CAD3.9 billion ($2.9 billion) of financing support for boosting the construction of houses throughout the state.

GlobalData’s Construction in Canada – Key Trends and Opportunities to 2028 (Q1 2024) 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 (2019-2023) and forecast (2024-2028) 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

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

7.4 GlobalData Construction

| Contact Us

Table

Table 1: Construction Industry Key Data

Table 2: Canada, Key Economic Indicators

Table 3: Canada, Commercial Construction Output by Project Type (Real % Change), 2019–28

Table 4: Canada, Top Commercial Construction Projects by Value

Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2019–28

Table 6: Canada, Top Industrial Construction Projects by Value

Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2019–28

Table 8: Canada, Top Infrastructure Construction Projects by Value

Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28

Table 10: Canada, Top Energy and Utilities Construction Projects by Value

Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2019–28

Table 12: Canada, Top Institutional Construction Projects by Value

Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2019–28

Table 14: Canada, Top Residential Construction Projects by Value

Table 15: Canada, Key Contractors

Table 16: Canada, Key Consultants

Table 17: Canada, Construction Output Value (Real, $ Million)

Table 18: Canada, Construction Output Value (Nominal, CAD Million)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

Figures

Figure 1: North America, Construction Output (Real % Change), 2022–28

Figure 2: Canada, Construction Output by Sector (Real % Change), 2022–24 and 2025–28

Figure 3: Canada, Risk Summary

Figure 4: Canada, Risk Regional Comparison

Figure 5: Canada, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28

Figure 6: Canada, Construction Output Value, by Sector (Real, $ Million), 2019–28

Figure 7: Canada, Construction Value-Add (CAD Million, 2012 Constant Prices), Quarterly Average, Seasonally Adjusted at Annual Rates

Figure 8: Canada, Investment in Building Construction (CAD Million, Seasonally Adjusted Constant Prices)

Figure 9: Canada, Value of Building Permits Issued, in Seasonally Adjusted Constant Prices, % Change YoY

Figure 10: Canada, Construction Employment, In Thousands, In Seasonally Adjusted Terms

Figure 11: Canada, Building Construction Prices Indices, 2017=100, % Change YoY)

Figure 12: Canada, Construction Projects Momentum Index

Figure 13: North America, Construction Projects Momentum Index

Figure 14: Canada, Commercial Construction Output by Project Type (Real, $ Million), 2019–28

Figure 15: Canada, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 16: Canada, Investment on Commercial Building Construction (CAD Million, Seasonally Adjusted Constant Prices)

Figure 17: Canada, Value of Building Permits Issued for Commercial Buildings (CAD Million, Seasonally Adjusted Terms)

Figure 18: Canada, Number of Non-Resident Visitors Entering the Country, In Thousands

Figure 19: Canada, Retail Trade Sales (CAD Million)

Figure 20: Canada, Industrial Construction Output by Project Type (Real, $ Million), 2019–28

Figure 21: Canada, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 22: Canada, Manufacturing Value add, Quarterly Average Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)

Figure 23: Canada, Investment on Industrial Building Construction (CAD Million, Seasonally Adjusted Constant Prices)

Figure 24: Canada, Value of Building Permits Issued for Industrial Buildings (CAD Million, Seasonally Adjusted Terms)

Figure 25: Canada, Sales Value of Goods Manufactured and New Orders of Manufacturing (CAD Million)

Figure 26: Canada, Merchandise Exports (CAD Million)

Figure 27: Canada, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28

Figure 28: Canada, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 29: Canada, Value-add of Civil Engineering and Other Construction Activities, Quarterly Average,

Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)

Figure 30: Canada, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28

Figure 31: Canada, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 32: Canada, Capital Expenditure in the Oil and Gas Extraction Industries (CAD Million, In Seasonally Adjusted Terms)

Figure 33: Canada, Electric Power Generation, In GWh

Figure 34: Canada, Production of Crude Oil and Other Equivalent Products, YoY % Change

Figure 35: Canada, Institutional Construction Output by Project Type (Real, $ Million), 2019–28

Figure 36: Canada, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 37: Canada, Investment on Institutional Building Construction (CAD Million, In Seasonally Adjusted Terms)

Figure 38: Canada, Institutional Building Permits Issued (CAD Million, Seasonally Adjusted Terms)

Figure 39: Canada, Residential Construction Output by Project Type (Real, $ Million), 2019–28

Figure 40: Canada, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 41: Canada, Value-add of Residential Building, Quarterly Average, Seasonally Adjusted at Annual Rates (CAD Million, 2012 Constant Prices)

Figure 42: Canada, Investment on Residential Building Construction (CAD Million, Seasonally Adjusted Terms)

Figure 43: Canada, Residential Building Permits Issued (CAD Million, Seasonally Adjusted Terms)

Figure 44: Canada, New Housing Price Index, 2016=100

Figure 45: Canada, Housing Construction Started in Census Metropolitan Areas

Figure 46: Canada, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 47: Canada, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently asked questions

Canada Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 standard reports
Currency USD
$1,495

Can be used by individual purchaser only

Most Popular
$2,242

Can be shared by unlimited users within one corporate location e.g. a regional office

$2,990

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Add to Basket

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Canada Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

 Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

 Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

 Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

 Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

 Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

 Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

 Senior Account Manager, TSYS

Related reports

View more Construction reports
Construction
New
Saudi Arabia Construction Market Size, Trend Analysis by Sector, Competitive…
$1,495 | March 2024
Construction
New
Healthcare Construction Project Insights and Analytics (Q1 2024)
$1,950 | March 2024
Construction
New
Railway Construction Project Insights and Analytics (Q1 2024)
$1,950 | March 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Canada Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 in real time.

  • Access a live Canada Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.
Tell me more