Philippines Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

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Published: September 14, 2023 Report Code: GDCN1218MR-ST

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Philippines Construction Market Report Overview

The Philippines construction market size was $59.4 billion in 2022. The market is projected to achieve an AAGR of more than 7% during 2024-2027. The growth of the market will be supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure, coupled with investments to develop affordable housing and social infrastructure.

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

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

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The Philippines construction market research report provides detailed market analysis, information, and insights into the Philippines 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 Philippines 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) $59.4 billion
AAGR (2024-2027) >7%
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 ·        Yuchengco Group of Companies

·        Citicore Holdings Investment Inc

·        Ayala Corp

·        DMCI Holdings Inc

·        San Miguel Corp
Key Consultants ·        Japan International Cooperation Agency

·        Ramboll Group AS

·        Hamburg Port Consulting GmbH

·        Katahira & Engineers International

·        Oriental Consultants Holdings Company Limited
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Philippines Construction Market Segmentation by Sectors

Residential construction was the leading sector in the Philippines construction market in 2022.

The key sectors in the Philippines 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 activities.

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 will be supported by investment in the industrial and manufacturing sectors, as well as an improvement in the wider economy.

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 public and private sector investment in road, rail, and airport projects in a bid to improve regional connectivity.

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 over the forecast period will be supported by the government’s focus on the development of energy infrastructure, particularly renewable energy, as well as investment in oil and gas, telecommunications and sewage infrastructure. The country plans to add 20GW of renewable energy capacity by 2030.

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-sector investment to develop the education and healthcare sectors.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The market growth will be supported by the government aims to construct one million housing units per year from 2023 to 2028 to address the country’s housing shortage.

Philippines Construction Market Analysis by Sectors, 2022 (%)

Philippines Construction Market Analysis by Sectors, 2022 (%)

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Philippines Construction Market - Competitive Landscape

Yuchengco Group of Companies led the Philippines construction market in 2022.

Some of the leading contractors in the Philippines construction market are:

  • Yuchengco Group of Companies
  • Citicore Holdings Investment Inc
  • Ayala Corp
  • DMCI Holdings Inc
  • San Miguel Corp

Domestic contractors account for a majority share of the project pipeline in the Philippines construction market.

Philippines Construction Market Analysis by Contractors, 2022 (%)

Philippines Construction Market Analysis by Contractors, 2022 (%)

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Some of the leading consultants in the Philippines construction market are:

  • Japan International Cooperation Agency
  • Ramboll Group AS
  • Hamburg Port Consulting GmbH
  • Katahira & Engineers International
  • Oriental Consultants Holdings Company Limited

Japan International Cooperation Agency led the market in 2022. Consultants with headquarters outside Philippines are involved in most of the project pipeline by value.

Philippines Construction Market Analysis by Consultants, 2022 (%)

Philippines Construction Market Analysis by Consultants, 2022 (%)

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Philippines Construction Market – Latest Developments

  • Among the largest commercial projects currently in the pipeline is the SM Seaside City Arena project, which is currently in the execution stage. The project involves the construction of a mixed-use community on a 26ha site in Cebu City, including the construction of a convention center and office towers.
  • According to the PSA, the construction industry’ value add rose in Q2 2023, preceded by Y-o-Y growth of more than 11% in Q1 2023.

Segments Covered in the Report

Philippines 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 Philippines.

  • Historical and forecast valuations of the construction industry in Philippines, 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

This report provides:

  • A comprehensive analysis of the construction industry in Philippines.

  • Historical and forecast valuations of the construction industry in Philippines, 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

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

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