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)
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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 (%)
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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 (%)
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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 (%)
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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
Table
Figures
Frequently asked questions
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What was the Canada construction market size in 2022?
The construction market size in Canada was $348.8 billion in 2022.
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What will the Canada construction market growth rate be during the forecast period?
The construction market in Canada is projected to achieve an AAGR of less than 1% during 2024-2027.
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Which was the leading sector in the Canada construction market in 2022?
Residential construction was the leading sector in the Canada construction market in 2022.
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Which are the leading contractors in the Canada construction market?
The leading contractors in the Canada construction market are SNC-Lavalin Group Inc (AtkinsRealis), Fluor Corp, Aecon Group Inc, Kiewit Corp, and Actividades de Construccion y Servicios SA among others.
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Which are the leading consultants in the Canada construction market?
The leading consultants in the Canada construction market are Transport Engineering Design Inc, Japan International Cooperation Agency, Nippon Koei Co Ltd, and Tedi South among others.
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