China Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

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China Construction Market Report Overview

The China construction market size was $4.6 trillion in 2022. The market is projected to attain an AAGR of more than 3% from 2024 to 2027. The sector’s growth will be supported by investment in development programs and infrastructure projects. The government plans to invest CNY92.4 trillion ($13.7 trillion) by 2060 for green power transformation. As part of the program, the government plans to attain net-zero emissions of greenhouse gases by 2060. China also plans to source 33% of power from renewable sources by 2025.

China Construction Market Outlook, 2022-2027 ($ Trillion)

China Construction Market Outlook, 2022-2027 ($ Trillion)

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The China construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their 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 France construction market growth in the coming years.

Market Size (2022) $4.6 trillion
AAGR (2024-2027) >3%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Sectors ·        Commercial Construction

·        Industrial Construction

·        Infrastructure Construction

·        Energy and Utilities Construction

·        Institutional Construction

·        Residential Construction

Key Contractors ·        China Railway Engineering Group Company Ltd

·        China Railway Construction Corporation Group

·        China State Construction Engineering Corp Ltd

·        China Communications Construction Group Ltd

·        State Council of the People’s Republic of China

Key Consultants ·        China Railway Construction Corporation Group

·        China Railway Engineering Group Company Ltd

·        China Railway First Survey & Design Institute Group Co Ltd

·        China Railway Design Corporation

·        China Communications Construction Group Ltd

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China Construction Market Segmentation by Sectors

Residential was the leading sector in the China construction market in 2022

The key sectors in the China construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the residential construction sector accounted for the highest market share, followed by infrastructure construction.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry’s growth is attributed to government measures to revive the real estate sector. In January 2023, the government announced that it plans to implement a CNY100 billion ($14.8 billion) support plan for rental housing loans as part of its 21-point action plan.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The sector growth is attributed to the government’s plans to expand the railway network.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The sector growth is attributed to investments in the construction of power generation and transmission projects.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. During the forecast period, the commercial sector’s growth will be driven by investments in retail, data center, and logistics projects and developments in the tourism sector.

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. The sector’s growth is attributed to government investment in the semiconductor manufacturing industry.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Growth over the forecast period will also be supported by investment in the construction of laboratories and hospital facilities.

China Construction Market Analysis by Sectors, 2022 (%)

China Construction Market Analysis by Sectors, 2022 (%)

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China Construction Market - Competitive Landscape

China Railway Engineering Group Company Ltd emerged as the leading contractor and China Railway Construction Corporation Group as the leading consultant in the China construction market in 2022

A few of the leading contractors in the China construction market are:

  • China Railway Engineering Group Company Ltd
  • China Railway Construction Corporation Group
  • China State Construction Engineering Corp Ltd
  • China Communications Construction Group Ltd
  • State Council of the People’s Republic of China

Domestic contractors account for most of the project pipeline in the China construction market. Firms based in Thailand are the dominant foreign contractors.

China Construction Market Analysis by Contractors, 2022 (%)

China Construction Market Analysis by Contractors, 2022 (%)

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A few of the leading consultants in the China construction market are:

  • China Railway Construction Corporation Group
  • China Railway Engineering Group Company Ltd
  • China Railway First Survey & Design Institute Group Co Ltd
  • China Railway Design Corporation
  • China Communications Construction Group Ltd

Consultants with headquarters outside China are involved in most of the project pipeline by value. Among foreign-based consultants, firms based in Thailand are involved in many of the projects in the pipeline.

China Construction Market Analysis by Consultants, 2022 (%)

China Construction Market Analysis by Consultants, 2022 (%)

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China Construction Market – Latest Developments

  • In September 2023, the government announced it plans to add 2,500km of high-speed railway lines and expand its total rail network by 50,000km by 2025.
  • In January 2023, China’s Ministry of Industry and Information Technology (MIIT) announced 15 measures to further stabilize growth and adjust the structure of SMEs, and seven initiatives including financing support for high-quality SMEs. China also plans to increase the number of SMEs involved or engaged in manufacturing to 150,000 and “little giant” enterprises to 10,000 by the end of 2023.

Segments Covered in the Report

China Construction Sectors Outlook (Value, $ Billion, 2018-2027)

  • 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 China.
  • Historical and forecast valuations of the construction industry in China, featuring details of key growth drivers.
  • Segmentation by sector 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

      • 4.1.1. Outlook
      • 4.1.2. Latest news and developments
      • 4.1.3. Construction Projects Momentum Index

    • 4.2. Commercial Construction

      • 4.2.1. Outlook
      • 4.2.2. Project analytics
      • 4.2.3. Latest news and developments

    • 4.3. Industrial Construction

      • 4.3.1. Outlook
      • 4.3.2. Project analytics
      • 4.3.3. Latest news and developments

    • 4.4. Infrastructure Construction

      • 4.4.1. Outlook
      • 4.4.2. Project analytics
      • 4.4.3. Latest news and developments

    • 4.5. Energy and Utilities Construction

      • 4.5.1. Outlook
      • 4.5.2. Project analytics
      • 4.5.3. Latest news and developments

    • 4.6. Institutional Construction

      • 4.6.1. Outlook
      • 4.6.2. Project analytics
      • 4.6.3. Latest news and developments

    • 4.7. Residential Construction

      • 4.7.1. Outlook
      • 4.7.2. Project analytics
      • 4.7.3. 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

Table

Table 1: Construction Industry Key Data

Table 2: China, Key Economic Indicators

Table 3: China, Gross Output of Construction, CNY Billion, (Accumulated)

Table 4: China, Commercial Construction Output by Project Type (Real % Change), 2018-27

Table 5: China, Top Industrial Construction Projects by Value

Table 6: China, Industrial Construction Output by Project Type (Real % Change), 2018-27

Table 7: China, Top Industrial Construction Projects by Value

Table 8: China, Infrastructure Construction Output by Project Type (Real % Change), 2018-27

Table 9: China, Top Infrastructure Construction Projects by Value

Table 10: China, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27

Table 11: China, Top Energy and Utilities Construction Projects by Value

Table 12: China, Institutional Construction Output by Project Type (Real % Change), 2018-27

Table 13: China, Top Institutional Construction Projects by Value

Table 14: China, Residential Construction Output by Project Type (Real % Change), 2018-27

Table 15: China, Top Residential Construction Projects by Value

Table 16: China, Key Contractors

Table 17: China, Key Consultants

Table 18: China, Construction Output Value (Real, $ Billion)

Table 19: China, Construction Output Value (Nominal, CNY Billion)

Table 20: GlobalData Construction Market Definitions

Table 21: Risk Dimensions

Table 22: Ratings, Scores and Definitions

Figures

Figure 1: North-East Asia, Construction Output (Real % Change), 2021-27

Figure 2: China, Construction Output by Sector (Real % Change), 2021-23 and 2024-27

Figure 3: China, Risk Summary

Figure 4: China, Risk Regional Comparison

Figure 5: China, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018-27

Figure 6: China, Construction Output Value, by Sector (Real, $ Million), 2018-27

Figure 7: China, Total Value of Buildings Completed by Construction Enterprises (CNY Billion)

Figure 8: China, Construction Purchasing Managers’ Index (PMI), Seasonally Adjusted

Figure 9: China, Investment in Fixed Assets in the construction sector, (Accumulated % Change, YoY)

Figure 10: China, Total Value of New Contracts Signed by Construction Enterprises, (CYN Trillion, YoY % Change)

Figure 11: China, Total Value of New Contracts Signed by Construction Enterprises by Top 10 Provinces (CYN Billion)

Figure 12: China, Investment in Real Estate Development, (Accumulated % Change, YoY)

Figure 13: China, Construction Projects Momentum Index

Figure 14: North-East Asia, Construction Projects Momentum Index

Figure 15: China, Commercial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 16: China, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 17: China, Total Floor Space of Commercial Buildings Under Construction, in Million m2 (Accumulated)

Figure 18: China, Total Retail Sales of Consumer Goods, Current Prices, (CNY Billion)

Figure 19: China, Investment in Commercial Real Estate Development (CNY Billion)

Figure 20: China, Floor Space of Office Buildings Under Construction, % Change YoY

Figure 21: China, Investment in office buildings, In CNY Billion

Figure 22: China, Industrial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 23: China, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 24: China, Industrial Value-Add, % Change, YoY

Figure 25: China, Manufacturing Purchasing Managers Index, Seasonally Adjusted

Figure 26: China, Automobile Production and Sales, In Thousand Units

Figure 27: China, Total Exports ($ billion)

Figure 28: China, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27

Figure 29: China, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 30: China, Fixed Asset Investment in The Transport Sector (% Change, YoY)

Figure 31: China, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27

Figure 32: China, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 33: China, Electricity Generation, in TWh

Figure 34: China, Institutional Construction Output by Project Type (Real, $ Million), 2018-27

Figure 35: China, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 36: China, Total Value of Buildings Completed for Scientific Research, Education, and Medical Use YoY % Change

Figure 37: China, Residential Construction Output by Project Type (Real, $ Million), 2018-27

Figure 38: China, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 39: China, Total Floor Space of Residential Area Under Construction and Total Floor Space of Residential Builds Started This Year

Figure 40: China, Total Nominal Value of Residential Buildings Sold (in CNY Trillion)

Figure 41: China, Investment in Residential Real Estate Development (CNY Billion)

Figure 42: China, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 43: China, Headquarters of Key Consultants (% of Total Project Pipeline)

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