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

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China Construction Market Report Overview

The China construction market size was $4.7 trillion in 2023. The market will achieve an AAGR of more than 3% during 2025-2028 supported by investment in energy and infrastructure projects during the forecast period.

China Construction Market Outlook, 2023-2028 ($ Billion)

China Construction Market Outlook, 2023-2028 ($ Billion)

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The China construction market research report gives 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 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 Chinese construction market growth in the coming years.

Market Size (2023) $4.7 trillion
AAGR (2025-2028) >3%
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 ·        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 Communications Construction Group Ltd

·        Power Construction Corporation of China

·        Beijing Urban Construction Design & Development Group Co Ltd

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China Construction Market Segmentation by Sectors

The residential construction sector accounted for the highest market share in the China construction market in 2023

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 improvement in tourism and robust public investment in data center and logistics projects will drive the commercial sector’s growth during the forecast period.

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. Investment in new manufacturing plants, in line with the government’s plan to increase China’s foreign trade volume, will drive the sector’s growth during the forecast period.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Increased transportation investment and an acceleration of project development by regional and local governments will support the infrastructure sector’s output during the forecast period.

Energy and utility construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The government’s focus on generating half of energy consumption from renewables will drive the sector growth during 2025-2028.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Government investment in healthcare, education, and research and development will fuel the growth of the institutional construction sector during the forecast period.

Residential construction: The project types in this sector include single-family housing and multi-family housing. A gradual improvement in consumer and investor confidence, in turn, will support the residential sector output over the forecast period.

China Construction Market Analysis by Sectors, 2023 (%)

China Construction Market Analysis by Sectors, 2023 (%)

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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 was the leading consultant in the Chinese construction market in 2023

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

Domestic contractors account for a majority share of the project pipeline in China.

China Construction Market Analysis by Contractors, 2023 (%)

China Construction Market Analysis by Contractors, 2023 (%)

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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 Communications Construction Group Ltd
  • Power Construction Corporation of China
  • Beijing Urban Construction Design & Development Group Co Ltd

Consultants with headquarters outside China are involved in most of the project pipeline by value.

China Construction Market Analysis by Consultants, 2023 (%)

China Construction Market Analysis by Consultants, 2023 (%)

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China Construction Market - Latest Developments

  • Among the largest commercial projects the largest project currently in the pipeline is the billion Gwadar to Kashgar Railway Line project which involves the construction of a 1,800km railway line, 200km of tunnels, 60km of bridges, stations- and terminals, and the installation of signaling and safety systems, and the laying of rail tracks.
  • The largest energy and utilities project currently in the pipeline is the Tibet Yarlung Tsangpo Hydroelectric Power Plant project, which is in the execution stage and involves the construction of a dam with a power generating capacity of 70GW on the Yarlung Tsangpo River in Medog County, Tibet.

Segments Covered in the Report

China 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 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

    • Economic Performance
    • Political Environment and Policy
    • Demographics
    • Risk Profile

  4. Construction Outlook

    • All Construction

      • Outlook
      • Latest news and developments
      • Construction Projects Momentum Index

    • Commercial Construction

      • Outlook
      • Project analytics
      • Latest news and developments

    • Industrial Construction

      • Outlook
      • Project analytics
      • Latest news and developments

    • Infrastructure Construction

      • Outlook
      • Project analytics
      • Latest news and developments

    • Energy and Utilities Construction

      • Outlook
      • Project analytics
      • Latest news and developments

    • Institutional Construction

      • Outlook
      • Project analytics
      • Latest news and developments

    • Residential Construction

      • Outlook
      • Project analytics
      • Latest news and developments

  1. Key Industry Participants

    • Contractors
    • Consultants

  2. Construction Market Data
  3. Appendix

    • What is this Report About?
    • Definitions
    • CRI Methodology

  4. About GlobalData
  5. 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), 2019–28

Table 5: China, Top Commercial Construction Projects by Value

Table 6: China, Industrial Construction Output by Project Type (Real % Change), 2019–28

Table 7: China, Top Industrial Construction Projects by Value

Table 8: China, Infrastructure Construction Output by Project Type (Real % Change), 2019–28

Table 9: China, Top Infrastructure Construction Projects by Value

Table 10: China, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28

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

Table 12: China, Institutional Construction Output by Project Type (Real % Change), 2019–28

Table 13: China, Top Institutional Construction Projects by Value

Table 14: China, Residential Construction Output by Project Type (Real % Change), 2019–28

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), 2022–28

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

Figure 3: China, Risk Summary

Figure 4: China, Risk Regional Comparison

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

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

Figure 7: China, Construction Value Add, Accumulated Quarter, % Change YoY

Figure 8: China, Total Value of Buildings Completed by Construction Enterprises (CNY Billion)

Figure 9: China, Monthly Unemployment in Metropolitan Lima (Three-Month Moving Average)

Figure 10: China, Investment in Fixed Assets in the construction sector, (Accumulated % Change, YoY)

Figure 11: China, Total Value of New Contracts Signed by Construction Enterprises, (CYN Trillion, YoY % Change)

Figure 12: China, Total Value of New Contracts Signed by Construction Enterprises by Top 10 Provinces (CYN Billion)

Figure 13: China, Investment in Real Estate Development, (Accumulated % Change, YoY)

Figure 14: China, Construction Projects Momentum Index

Figure 15: North-East Asia, Construction Projects Momentum Index

Figure 16: China, Commercial Construction Output by Project Type (Real, $ Million), 2019–28

Figure 17: China, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 18: China, Total Floor Space of Commercial Buildings Under Construction, in Million m2 (Accumulated)

Figure 19: China, Total Retail Sales of Consumer Goods, Current Prices, (CNY Billion)

Figure 20: China, Investment in Commercial Real Estate Development (CNY Billion)

Figure 21: China, Floor Space of Office Buildings Under Construction, % Change YoY

Figure 22: China, Investment in office buildings, In CNY Billion

Figure 23: China, Industrial Construction Output by Project Type (Real, $ Million), 2019–28

Figure 24: China, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 25: China, Industrial Value-Add, % Change, YoY

Figure 26: China, Manufacturing Purchasing Managers Index, Seasonally Adjusted

Figure 27: China, Automobile Production and Sales, In Thousand Units

Figure 28: China, Total Exports ($ billion)

Figure 29: China, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28

Figure 30: China, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 31: China, Fixed Asset Investment in The Transport Sector (% Change, YoY)

Figure 32: China, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28

Figure 33: China, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 34: China, Electricity Generation, in TWh

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

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

Figure 37: China, Total Value of Buildings Completed for Scientific Research, Education, and Medical Use YoY % Change

Figure 38: China, Residential Construction Output by Project Type (Real, $ Million), 2019–28

Figure 39: China, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 40: China, Total Floor Space of Residential Area Under Construction and Total Floor Space of Residential Builds Started This Year

Figure 41: China, Total Nominal Value of Residential Buildings Sold (in CNY Trillion)

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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