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

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Canada Construction Market Report Overview

The Canada construction market size was $348.8 billion in 2022. The market is projected to achieve an AAGR of less than 1% during 2024-2027. The growth in the market is attributed to investments in public housing projects, in line with the government’s target to improve housing supply in the country. Developments in the energy, transport, industrial, and residential sectors also drive the Canadian construction market during 2025-2027.

Canada Construction Market Outlook, 2022-2027 ($ Billion)

Canada Construction Market Outlook, 2022-2027 ($ Billion)

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The Canada 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 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 Canada construction market growth in the coming years.

Market Size (2022) $348.8 billion
AAGR (2024-2027) <1%
Forecast Period 2022-2027
Historical Period 2018-2021
Key Sectors ·        Residential Construction

·        Infrastructure Construction

·        Energy and Utilities Construction

·        Industrial Construction

·        Commercial Construction

·        Institutional Construction

Key Contractors ·        SNC-Lavalin Group Inc (AtkinsRealis)

·        Fluor Corp

·        Aecon Group Inc

·        Kiewit Corp

·        Actividades de Construccion y Servicios SA

Key Consultants ·        WSP Global Inc

·        SNC-Lavalin Group Inc (AtkinsRealis)

·        Arcadis NV

·        Stantec Inc

·        AECOM

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Canada Construction Market Segmentation by Sectors

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

The key sectors in the Canada construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the residential construction sector was followed by infrastructure construction.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The government’s emphasis on affordable housing construction will ensure the sector’s growth during the forecast period. An anticipated rise in housing demand amid the rising population will also drive the residential construction sector during the forecast period.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Public and private sector investments in road, rail, and airport projects will support the sector growth.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Increasing investments in the renewable energy, and oil and gas projects will drive the sector’s growth between 2024 and 2027.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Improvements in the tourism sector and investments in leisure and hospitality, retail, and data center buildings will drive the commercial sector’s growth over 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. Investments in Electric Vehicle (EV) manufacturing plant, coupled with the government’s goal of transforming the country into an industrial hub will drive the sector’s growth during the forecast period.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Rising healthcare demand will drive investment toward the institutional sector will fuel the growth of this sector in the coming years.

Canada Construction Market Analysis by Sectors, 2022 (%)

Canada Construction Market Analysis by Sectors, 2022 (%)

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Canada Construction Market - Competitive Landscape

SNC-Lavalin Group Inc (AtkinsRealis) emerged as the leading contractor and WSP Global Inc as the leading consultant in the Canada construction market in 2022

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

  • SNC-Lavalin Group Inc (AtkinsRealis)
  • Fluor Corp
  • Aecon Group Inc
  • Kiewit Corp
  • Actividades de Construccion y Servicios SA

Domestic contractors account for most of the project pipeline in the Canada construction market. Firms based in the US are the dominant contractors.

Canada Construction Market Analysis by Contractors, 2022 (%)

Canada Construction Market Analysis by Contractors, 2022 (%)

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

  • WSP Global Inc
  • SNC-Lavalin Group Inc (AtkinsRealis)
  • Arcadis NV
  • Stantec Inc
  • AECOM

Consultants with headquarters within Canada are involved in most of the project pipeline by value. Firms based in the US are involved in most of the project pipeline.

Canada Construction Market Analysis by Consultants, 2022 (%)

Canada Construction Market Analysis by Consultants, 2022 (%)

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Canada Construction Market - Latest Developments

  • In November 2023, the federal and provincial government of Quebec announced that they will each invest a certain amount over the next four years to accelerate housing construction in Quebec.
  • In September 2023, the government announced that the annual limit for Canada Mortgage Bonds was being increased to enable the construction of more homes and to unlock low-cost financing for multi-unit rental construction. This measure will help to build approximately 30,000 more rental apartments per year.

Segments Covered in the Report

Canada 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 Canada.
  • Historical and forecast valuations of the construction industry in Canada, 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: Canada, Key Economic Indicators

Table 3: Canada, Commercial Construction Output by Project Type (Real % Change), 2018–27

Table 4: Canada, Top Commercial Construction Projects by Value

Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2018–27

Table 6: Canada, Top Industrial Construction Projects by Value

Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2018–27

Table 8: Canada, Top Infrastructure Construction Projects by Value

Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27

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

Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2018–27

Table 12: Canada, Top Institutional Construction Projects by Value

Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2018–27

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), 2021–27

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

Figure 3: Canada, Risk Summary

Figure 4: Canada, Risk Regional Comparison

Figure 5: Canada, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27

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

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), 2018–27

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), 2018–27

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), 2018–27

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), 2018–27

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), 2018–27

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), 2018–27

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)

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