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

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Published: December 29, 2023 Report Code: GDCN1280MR-ST

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Myanmar Construction Market Report Overview

The Myanmar construction market size was $7.9 billion in 2022. The market is projected to achieve an AAGR of more than 6% during 2024-2027. Investment in transport and energy infrastructure and the government’s focus on attracting foreign investment are supporting the construction industry’s growth.

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

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

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The Myanmar 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 Myanmar construction market growth in the coming years.

Market Size (2022) $7.9 billion
AAGR (2024-2027) >6%
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 ·        Shwe Taung Development Co Ltd

·        Khin Myanmar Development Co Ltd

·        Punj Lloyd Ltd

·        Sumitomo Corp

·        Oxley Holdings Ltd
Key Consultants ·        Nippon Koei Co Ltd

·        Japan International Cooperation Agency

·        Mott MacDonald Group Ltd

·        AFRY AB

·        China Railway Engineering Group Company Ltd
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Myanmar Construction Market Segmentation by Sectors

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

The key sectors in the Myanmar 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.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The resumption of cross-border transportation infrastructure projects with neighboring countries during the forecast period will support the sector’s growth.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry will recover over the forecast period owing to the investments by the government in public housing. For instance, in August 2023, during the opening ceremony of 448 apartments, the Union Minister for Construction announced that the government is planning to develop the Thukha Dagon Public Rental Housing project in Yangon. The project will consist of more than 3,100 apartments for retired and low-income people. Further supporting the residential sector’s growth, the Myanmar Construction Entrepreneurs Association (MCEA), in cooperation with the Ministry of Construction, Myanmar (MoC) is undertaking the Affordable Housing Development Program. The program involves the construction of one million housing units across Myanmar by 2030.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Low base effects and tax exceptions on investment in the sector will drive 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. The government’s strategies and action plans to develop the tourism industry will drive the 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. The government’s ‘’National Export Strategy (NES) 2020-2025’’ initiative 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. Improvement in public and private sector investment will fuel the growth of this sector in the coming years.

Myanmar Construction Market Analysis by Sectors, 2022 (%)

Myanmar Construction Market Analysis by Sectors, 2022 (%)

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Myanmar Construction Market - Competitive Landscape

Shwe Taung Development Co Ltd emerged as the leading contractor and Nippon Koei Co Ltd as the leading consultant in the Myanmar construction market in 2022

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

  • Shwe Taung Development Co Ltd
  • Khin Myanmar Development Co Ltd
  • Punj Lloyd Ltd
  • Sumitomo Corp
  • Oxley Holdings Ltd

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

Myanmar Construction Market Analysis by Contractors, 2022 (%)

Myanmar Construction Market Analysis by Contractors, 2022 (%)

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

  • Nippon Koei Co Ltd
  • Japan International Cooperation Agency
  • Mott MacDonald Group Ltd
  • AFRY AB
  • China Railway Engineering Group Company Ltd

Consultants with headquarters within Myanmar are involved in most of the project pipeline by value. Among foreign-based consultants, firms based in Thailand are involved in most of the project pipeline.

Myanmar Construction Market Analysis by Consultants, 2022 (%)

Myanmar Construction Market Analysis by Consultants, 2022 (%)

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Myanmar Construction Market - Latest Developments

  • In October 2023, the Russian state corporation ‘’Rosatom” and the Ministry of Science and Technology of the Republic of the Union of Myanmar signed a memorandum of understanding (MoU) to develop nuclear infrastructure in the country and build 372 MW of wind energy capacity.
  • In March 2023, Myanmar and China signed a memorandum of agreement (MoA) to implement three wind power projects in Ann, Gwa, and Thandwe townships in Rakhine State, with a combined capacity of 360MW.

Segments Covered in the Report

Myanmar 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 Myanmar.

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

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

Table 4: Myanmar, Top Commercial Construction Projects by Value

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

Table 6: Myanmar, Top Industrial Construction Projects by Value

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

Table 8: Myanmar, Top Infrastructure Construction Projects by Value

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

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

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

Table 12: Myanmar, Residential Construction Output by Project Type (Real % Change), 2018–27

Table 13: Myanmar, Top Residential Construction Projects by Value

Table 14: Myanmar, Key Contractors

Table 15: Myanmar, Key Consultants

Table 16: Myanmar, Construction Output Value (Real, $ Million)

Table 17: Myanmar, Construction Output Value (Nominal, MMK Billion)

Table 18: GlobalData Construction Market Definitions

Table 19: Risk Dimensions

Table 20: Ratings, Scores and Definitions

Figures

Figure 1: South and South-East Asia, Construction Output (Real % Change), 2021–27

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

Figure 3: Myanmar, Risk Summary

Figure 4: Myanmar, Risk Regional Comparison

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

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

Figure 7: Myanmar, Total Foreign Direct Investment ($ Million)

Figure 8: Myanmar, Commercial Construction Output by Project Type (Real, $ Million), 2018–27

Figure 9: Myanmar, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 10: Myanmar, International Tourist Arrivals, In Numbers

Figure 11: Myanmar, Industrial Construction Output by Project Type (Real, $ Million), 2018–27

Figure 12: Myanmar, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 13: Myanmar, Total Exports ($ Million )

Figure 14: Myanmar, Manufacturing Foreign Investment of Permitted Enterprise ($ Million)

Figure 15: Myanmar, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27

Figure 16: Myanmar, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 17: Myanmar, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27

Figure 18: Myanmar, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 19: Myanmar, Electric Power Generation (In Million kwh) and Sales (In Billion MMK)

Figure 20: Myanmar, Crude Oil (In Thousand Barrels) and Natural Gas (In M.Cu.ft.)

Figure 21: Myanmar, Institutional Construction Output by Project Type (Real, $ Million), 2018–27

Figure 23: Myanmar, Residential Construction Output by Project Type (Real, $ Million), 2018–27

Figure 24: Myanmar, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 25: Myanmar, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 26: Myanmar, Headquarters of Key Consultants (% of Total Project Pipeline)

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