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

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Published: September 14, 2023 Report Code: GDCN1217MR-ST

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Vietnam Construction Market Report Overview

The Vietnam construction market size was $87.7 billion in 2022. The market is projected to achieve an AAGR of more than 6% during 2024-2027. The growth of the market will be supported by the government’s efforts to develop transport, energy, industrial and housing infrastructure.

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

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

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The Vietnam construction market research report provides detailed market analysis, information, and insights into the Vietnam 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 Vietnam 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) $87.7 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 ·       Hyundai Engineering & Construction Co Ltd

·       Hoa Binh Construction Group

·       Civil Engineering Construction Corporation No. 4 Ltd

·       Coteccons Group

·       Vietnam National Oil and Gas Group
Key Consultants ·       Transport Engineering Design Inc

·       Japan International Cooperation Agency

·       Nippon Koei Co Ltd

·       Tedi South

·       Korea International Cooperation Agency
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Vietnam Construction Market Segmentation by Sectors

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

The key sectors in the Vietnam 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 the government’s goal of establishing several logistic and data centers across the country.

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 and developments in new industrial parks and an increase in FDI in manufacturing plants.

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 the government’s focus on improving transport infrastructure across the country.

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 long-term vision for the development of energy infrastructure in order to meet rising energy demand.

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 in the development of the country’s educational 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’s plans to build affordable housing for middle- and low-income families.

Vietnam Construction Market Analysis by Sectors, 2022 (%)

Vietnam Construction Market Analysis by Sectors, 2022 (%)

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Vietnam Construction Market - Competitive Landscape

Hyundai Engineering & Construction Co Ltd led the Vietnam construction market in 2022.

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

  • Hyundai Engineering & Construction Co Ltd
  • Hoa Binh Construction Group
  • Civil Engineering Construction Corporation No. 4 Ltd
  • Coteccons Group
  • Vietnam National Oil and Gas Group

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

Vietnam Construction Market Analysis by Contractors, 2022 (%)

Vietnam Construction Market Analysis by Contractors, 2022 (%)

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

  • Transport Engineering Design Inc
  • Japan International Cooperation Agency
  • Nippon Koei Co Ltd
  • Tedi South
  • Korea International Cooperation Agency

Transport Engineering Design Inc. led the market in 2022. Consultants with headquarters outside Vietnam are involved in most of the project pipeline by value.

Vietnam Construction Market Analysis by Consultants, 2022 (%)

Vietnam Construction Market Analysis by Consultants, 2022 (%)

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Vietnam Construction Market – Latest Developments

  • In March 2023, the National Assembly approved the 2023 Budget of more than $29 billion, a significant increase from the budgte of 2022. This is to support the government’s efforts to develop transport, energy, industrial and housing infrastructure.
  • The government approved the National Petroleum and Gas Reserve and Supply Infrastructure Plan for the period 2021-2030 in July 2023, with a significant investment.

Segments Covered in the Report

Vietnam 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 Vietnam.

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

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