China Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

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Published: September 21, 2023 Report Code: GDCN1215MR-ST

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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 achieve an AAGR of more than 4% during 2024-2027. The growth of the construction market during the forecast period will be supported by investment in development programs and infrastructure projects. Further support for construction activity will be provided by works as part of the 14th Five-Year Plan (2021–2025).

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

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

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The China construction market research report provides detailed market analysis, information, and insights into the Chinese construction industry, including the industry’s growth prospects by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Chinese construction industry. It also provides an analysis of the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the sectors in the construction market and provides an overview of each sector along with their driving factors.

Market Size (2022) $4.6 trillion
AAGR (2024-2027) >4%
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 Construction Corporation Group

·        China Railway Engineering Group Company Ltd

·        State Council of the People’s Republic of China

·        China State Construction Engineering Corp Ltd

·        China Communications Construction Group Ltd

·        Power Construction Corporation of China
Key Consultants ·        China Railway Construction Corp Ltd

·        China Railway Engineering Group Company Ltd

·        State-owned Assets Supervision and Administration Commission of the State Council

·        China Communications Construction Group Ltd

·        Guangzhou Metro Group Co Ltd

·        Beijing Urban Construction Design & Development Group Co Ltd
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China Construction Market Segmentation by Sectors

Residential construction was the leading sector in the Chinese 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.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The growth of the sector over the forecast period will be aided by investments in retail, data center, and logistics projects. An improvement in services activity in the sector will further help in the improvement of the commercial construction 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 growth of the sector over the forecast period will be supported by investment in new manufacturing plants in line with the government’s plan to increase China’s foreign trade volume by 2025.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The growth of the sector over the forecast period will be supported by increased transportation investment and an acceleration of project development by regional and national governments.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The growth of the sector over the forecast period will be supported by the government’s aim to generate half of all energy consumption from renewables by 2025.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The growth of the sector over the forecast period will be supported by government investment in healthcare, education, and the research and development sector. Growth over the forecast period will also be supported by the construction of several kindergartens, primary, secondary, and vocational schools, and county-level hospitals by 2025.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction sector will experience growth between 2025 and 2027, driven by a gradual improvement in buyer and investor confidence.

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 Construction Corporation Group led the China construction market in 2022.

Some of the leading contractors in the China construction market are:

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

Domestic contractors account for a majority share of the project pipeline in the Chinese construction market.

China Construction Market Analysis by Contractors, 2022 (%)

China Construction Market Analysis by Contractors, 2022 (%)

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Some of the leading consultants in the China construction market are:

  • China Railway Construction Corp Ltd
  • China Railway Engineering Group Company Ltd
  • State-owned Assets Supervision and Administration Commission of the State Council
  • China Communications Construction Group Ltd
  • Guangzhou Metro Group Co Ltd
  • Beijing Urban Construction Design & Development Group Co Ltd

China Railway Construction Corp Ltd led the market in 2022. Consultants with headquarters within China are involved in most of the project pipeline by value.

China Construction Market Analysis by Consultants, 2022 (%)

China Construction Market Analysis by Consultants, 2022 (%)

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China Construction Market – Latest Developments

  • In August 2023, China-based government-owned enterprise China Green Development Group Co Ltd was awarded the construction of nine major projects out of which five are energy-based projects and four are cultural and tourism industry cluster projects.
  • The largest commercial project currently in the pipeline is the Xixian Evergrande Fairytale Theme Park project which involves the construction of large-scale and small rides, a Disney Resort, an entertainment center, pools, water slides, a shopping gallery, restaurants, and administrative and parking facilities.

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

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