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

Pages: 51 Published: June 23, 2023 Report Code: GDCN1156MR

Report Overview
Table of Contents
Tables
Figures
FAQ

Philippines Construction Market Report Overview

The Philippines construction market size was valued at $59.4 billion in 2022 and is expected to achieve an AAGR of more than 7% from 2024 to 2027. The forecast-period growth in the industry is supported by improving economic conditions and public and private sector investment in infrastructure, energy, educational, and healthcare facilities. In addition, an improvement in tourism and leisure and hospitality activities will also propel the market growth.

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

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The Philippines construction market research report provides a detailed analysis of Philippines construction 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. Moreover, it also provides an analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Market Size (2022)	$59.4 billion
AAGR (2024 – 2027)	>7%
Forecast Period	2024-2027
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 · San Miguel Corp · F.F Cruz Co Inc · Ayala Corp · Citicore Holdings Investment Inc
Key Consultants	· Japan International Cooperation Agency · Ramboll Group AS · Hamburg Port Consulting GmbH · DCCD Engineering Corp · Pacific Consultants Co Ltd
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Philippines Construction Market Segmentation by Sectors

The key sectors in the Philippines construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. Residential construction was the largest in Philippines’s construction industry in 2022.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Forecast-period growth in the commercial construction sector’s output 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. Forecast-period growth in the industrial construction sector’s output 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. Forecast-period growth in the infrastructure construction sector’s output 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 sector’s growth 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.

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’s output 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. Forecast-period growth in the residential construction sector’s output will be supported by public and private sector investment in affordable housing construction. The government aims to construct one million housing units per year from 2024 to 2028 to address the country’s housing shortage.

Philippine Construction Market Analysis, by Sectors, 2022 (%)

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Philippines Construction Market – Competitive Landscape

The leading contractors in the Philippines construction market are Yuchengco Group of Companies, San Miguel Corp, F.F Cruz Co Inc, Ayala Corp, and Citicore Holdings Investment Inc among others. Yuchengco Group of Companies led the market.

Philippines Construction Market Analysis by Leading Contractors

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The leading consultants in the Philippines construction market are Japan International Cooperation Agency, Ramboll Group AS, Hamburg Port Consulting GmbH, DCCD Engineering Corp, and Pacific Consultants Co Ltd among others. Japan International Cooperation Agency led the market.

Philippines Construction Market Analysis by Leading Consultants

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Segments Covered in the Report

Philippines Construction Sectors Outlook (Value, $ Billion, 2018-2027)

Commercial Construction
- Leisure and Hospitality Buildings
- Office Buildings
- Outdoor Leisure Facilities
- Retail Buildings
- Other Commercial Construction
Industrial Construction
- Chemical and Pharmaceutical Plants
- Manufacturing Plants
- Metal and Material Production and Processing plants
- Waste Processing Plants
Infrastructure Construction
- Rail Infrastructure
- Road Infrastructure
- Other Infrastructure Projects
Energy and Utilities Construction
- Electricity and Power
- Oil and Gas
- Telecommunications
- Sewage Infrastructure
- Water Infrastructure
Institutional Construction
- Educational Buildings
- Healthcare Buildings
- Institutional Buildings
- Research Facilities
- Religious Buildings
Residential Construction
- Single-Family Housing
- Multi-Family Housing

Scope

This report provides a comprehensive analysis of the construction industry in the Philippines. It provides-

Historical and forecast valuations of the construction industry in the Philippines, featuring details of key growth drivers.

Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) 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.

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. Construction Projects Momentum Index
  - 4.1.3. Latest news and developments
- 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
- 7.4. GlobalData Construction

8. Contact Us

List of Tables

Table 1: Construction Industry Key Data

Table 2: The Philippines, Key Economic Indicators

Table 3: The Philippines, Commercial Construction Output by Project Type (Real % Change), 2018-27

Table 4: The Philippines, Top Commercial Construction Projects by Value

Table 5: The Philippines, Industrial Construction Output by Project Type (Real % Change), 2018-27

Table 6: The Philippines, Top Industrial Construction Projects by Value

Table 7: The Philippines, Infrastructure Construction Output by Project Type (Real % Change), 2018-27

Table 8: The Philippines, Top Infrastructure Construction Projects by Value

Table 9: The Philippines, Energy and Utilities Construction Output by Project Type (Real % Change), 2018-27

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

Table 11: The Philippines, Institutional Construction Output by Project Type (Real % Change), 2018-27

Table 12: The Philippines, Top Institutional Construction Projects by Value

Table 13: The Philippines, Residential Construction Output by Project Type (Real % Change), 2018-27

Table 14: The Philippines, Top Residential Construction Projects by Value

Table 15: The Philippines, Key Contractors

Table 16: The Philippines, Key Consultants

Table 17: The Philippines, Construction Output Value (Real, $ Million)

Table 18: The Philippines, Construction Output Value (Nominal, PHP Billion)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

List of Figures

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

Figure 2: The Philippines, Construction Output by Sector (Real % Change), 2021-23 and 2024-27

Figure 3: The Philippines, Risk Summary

Figure 4: The Philippines, Risk Regional Comparison

Figure 5: The Philippines, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2018-27

Figure 6: The Philippines, Construction Output Value, by Sector (Real, $ Million), 2018-27

Figure 7: The Philippines, Construction Value Add (PHP Billion, 2018 Constant Prices)

Figure 8: The Philippines, Gross Fixed Capital Formation in Construction (PHP Billion, 2018 Constant Prices)

Figure 9: The Philippines, Construction Materials Retail Price Index in the National Capital Region (2012=100)

Figure 10: The Philippines, Loans Outstanding for Construction (PHP Billion)

Figure 11: The Philippines, Total Approved Foreign Investments (Current Prices, PHP Billion)

Figure 12: The Philippines, Construction Projects Momentum Index

Figure 13: South-East Asia, Construction Projects Momentum Index

Figure 14: The Philippines, Commercial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 15: The Philippines, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 16: The Philippines, Accommodation and Food Service Activities Value Add (PHP Billion, 2018 Constant Prices)

Figure 17: The Philippines, Loans Outstanding for Accommodation and Food Service Activities (PHP Billion)

Figure 18: The Philippines, Wholesale and Retail Trade Value Add, at 2018 Constant Prices, % Change YoY

Figure 19: The Philippines, Industrial Construction Output by Project Type (Real, $ Million), 2018-27

Figure 20: The Philippines, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 21: The Philippines, Mining, and Quarrying Value Add (PHP Billion, 2018 Constant Prices)

Figure 22: The Philippines, Manufacturing Value Add (PHP Billion, 2018 Constant Prices)

Figure 23: The Philippines, Loans Outstanding for Manufacturing (PHP Billion)

Figure 24: The Philippines, Total Exports ($ Billion)

Figure 25: The Philippines, Infrastructure Construction Output by Project Type (Real, $ Million), 2018-27

Figure 26: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 27: The Philippines, Transportation and Storage Value Add (PHP Billion, 2018 Constant Prices)

Figure 28: The Philippines, Loans Outstanding for Transportation and Storage (PHP Billion)

Figure 29: The Philippines, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018-27

Figure 30: The Philippines, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 31: The Philippines, Electricity Generation, Steam, Water, and Waste Management Value Add (PHP Billion, 2018 Constant Prices)

Figure 32: The Philippines, Information and Communication Value Add (PHP Billion, 2018 Constant Prices)

Figure 33: The Philippines, Loans Outstanding for Electricity, Gas, Steam and Air-Conditioning Supply (PHP Billion)

Figure 34: The Philippines, Institutional Construction Output by Project Type (Real, $ Million), 2018-27

Figure 35: The Philippines, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 36: The Philippines, Education Value Add (PHP Billion, 2018 Constant Prices)

Figure 37: The Philippines, Human Health and Social Work Activities Value Add (PHP Billion, 2018 Constant Prices)

Figure 38: The Philippines, Loans Outstanding for Education (PHP Billion)

Figure 39: The Philippines, Loans Outstanding for Human Health and Social Work Activities (PHP Billion)

Figure 40: The Philippines, Residential Construction Output by Project Type (Real, $ Million), 2018-27

Figure 41: The Philippines, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 42: The Philippines, Real estate and Ownership of Dwellings Value Add (PHP Billion, 2018 Constant Prices)

Figure 43: The Philippines, Loans Outstanding for Real Estate Activities (PHP Billion)

Figure 44: The Philippines, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 45: The Philippines, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently Asked Questions

The Philippines construction market size was $59.4 billion in 2022.

The construction market in Philippines is expected to achieve an AAGR of more than 7% during 2024-2027.

The residential sector led the Philippines construction market in 2022.

Some of the leading contractors in the Philippines construction market are Yuchengco Group of Companies, San Miguel Corp, F.F Cruz Co Inc, Ayala Corp, and Citicore Holdings Investment Inc.

Some of the key consultants in the Philippines construction market are Japan International Cooperation Agency, Ramboll Group AS, Hamburg Port Consulting GmbH, DCCD Engineering Corp, and Pacific Consultants Co Ltd.

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