India Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027
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India Construction Market Report Overview
The Indian construction market size was $701.7 billion in 2022. The market is projected to achieve an AAGR of more than 5% during 2024-2027. The growth of the market will be supported by a strong pipeline of infrastructure and energy projects. This includes an investment under the National Green Hydrogen Mission to achieve an annual production target of green hydrogen by 2030.
India Construction Market Outlook, 2022-2027 ($ Billion)
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The India construction market research report provides detailed market analysis, information, and insights into the Indian 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 Indian 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)||$701.7 billion|
|Key Sectors||· Commercial Construction
· Industrial Construction
· Infrastructure Construction
· Energy and Utilities Construction
· Institutional Construction
· Residential Construction
|Key Contractors||· Larsen & Toubro Ltd
· Hindustan Construction Co Ltd
· Shapoorji Pallonji & Co Pvt Ltd
· NCC Ltd
· ITD Cementation India Ltd
· Tata Projects Ltd
|Key Consultants||· RITES Ltd
· Engineers India Ltd
· RATP Group
· Aarvee Associates Architects Engineers & Consultants Pvt Ltd
· SYSTRA S.A.
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India Construction Market Segmentation by Sectors
Residential construction was the leading sector in the Indian construction market in 2022.
The key sectors in the India 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 supported by an expected improvement in tourism activity, as well as growth in wholesale and retail trade.
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 the industrial and manufacturing sectors, as well as an improvement in the wider economy and external demand.
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 investment to develop transport infrastructure. The construction and development of the road network as well as other rail infrastructure projects will support the sector’s output over the forecast period.
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 will be supported by investment in renewable energy projects, in line with the government’s focus on reducing carbon emissions. The government’s aim to achieve energy independence by 2047 and achieve net zero objective and energy security by 2070 are also factors driving the sector growth.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Forecast-period growth in the institutional construction sector will be supported by public and private investment in the healthcare and education sectors. The sector’s growth will also be supported by grants provided by international development organizations.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The growth of the residential construction sector over the forecast period will be supported by the country’s rising urbanization and population and government initiatives to address the housing deficit. Since consumer and investor confidence is improving, demand for housing is increasing, which will support investment in the sector.
India Construction Market Analysis by Sectors, 2022 (%)
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India Construction Market - Competitive Landscape
Larsen & Toubro Ltd led the India construction market in 2022.
Some of the leading contractors in the India construction market are:
- Larsen & Toubro Ltd
- Hindustan Construction Co Ltd
- Shapoorji Pallonji & Co Pvt Ltd
- NCC Ltd
- ITD Cementation India Ltd
- Tata Projects Ltd
Domestic contractors account for a majority share of the project pipeline in the Indian construction market.
India Construction Market Analysis by Contractors, 2022 (%)
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Some of the leading consultants in the India construction market are:
- RITES Ltd
- Engineers India Ltd
- RATP Group
- Aarvee Associates Architects Engineers & Consultants Pvt Ltd
- SYSTRA S.A.
RITES Ltd led the market in 2022. Consultants with headquarters within India are involved in most of the project pipeline by value.
India Construction Market Analysis by Consultants, 2022 (%)
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India Construction Market – Latest Developments
- The largest commercial project currently in the pipeline is the Logistics Centre project in Uttar Pradesh which involves the construction of a logistic facility comprising storage units, an office space, loading and unloading facilities, and parking facilities.
- The largest industrial project currently in the pipeline is the Odisha Semiconductor Manufacturing Facility which involves the construction of a semiconductor manufacturing plant, a production unit, a manufacturing unit, storage facilities, office spaces, administration space, installation of machinery, and safety and security systems.
Segments Covered in the Report
India Construction Sectors Outlook (Value, $ Billion, 2018-2027)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
This report provides:
- A comprehensive analysis of the construction industry in India.
- Historical and forecast valuations of the construction industry in India, 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
- 4.1. All Construction
- 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
Frequently asked questions
What was the India construction market size in 2022?
The construction market size in India was $701.7 billion in 2022.
What is the India construction market growth rate?
The construction market in India is projected to achieve an AAGR of more than 5% during 2024-2027.
Which was the leading sector in the India construction market in 2022?
Residential construction was the leading sector in the Indian construction market in 2022.
Which are the leading contractors in the Indian construction market?
Some of the leading contractors in the Indian construction market are Larsen & Toubro Ltd, Hindustan Construction Co Ltd, Shapoorji Pallonji & Co Pvt Ltd, NCC Ltd, ITD Cementation India Ltd, and Tata Projects Ltd.
Who are the leading consultants in the Indian construction market?
Some of the leading consultants in the Indian construction market are RITES Ltd, Engineers India Ltd, RATP Group, Aarvee Associates Architects Engineers & Consultants Pvt Ltd, AECOM, and SYSTRA S.A.
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