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Construction in China - Key Trends and Opportunities to 2025 (Q2 2021)

Construction in China - Key Trends and Opportunities to 2025 (Q2 2021)

Summary

China’s construction industry has continued its recovery, following the severe disruption caused by the Coronavirus (COVID-19) pandemic-induced lockdown in early 2020, registering growth of 3.5% in 2020; the swift recovery was due in part to the fast tracking of major infrastructure projects. According to the National Bureau of Statistics (NBS), the construction industry’s value-add grew by 22.8% year on year (YoY) in Q1 2021, preceded by Y-o-Y growths of 6.6% in Q4, 8.1% in Q3 and 7.8% in Q2 2020.

In line with growth in construction activity, investments in real estate and fixed assets have also increased, with total investment in real estate development growing by 25.6% YoY in Q1 2021 and 7% YoY in 2020, whereas investments in fixed assets grew by 25.6% in Q1 2021 and 2.9% in 2020. In Q1 2021, the National Development and Reform Commission (NDRC) approved 16 fixed-asset investment projects worth CNY45.4 billion (US$7.1 billion), following approvals of CNY177.8 billion (US$27.7 billion) in September 2020.

GlobalData expects the construction industry to grow by 7.7% in 2021, driven by strong Y-o-Y growth in the first quarter, reflecting the comparison to the previous year’s period when construction work was halted across most of the country. Thereafter, GlobalData expects the construction industry to record an average annual growth of 4.2% between 2022 and 2025. The industry’s growth over the forecast period is expected to be driven by investments on new infrastructure, including investment in the areas of 5G networks, Artificial Intelligence, the Internet of Things, and data centers. According to the government-backed think tank, the China Electronic Information Industry Development (CCID), the country is expected to spend CNY10 trillion (US$1.4 trillion) on new infrastructure projects between 2020 and 2025. The industry’s growth will also be driven by investments in renewable energy and residential building projects.

This report provides detailed market analysis, information, and insights into China’s construction industry, including -
- China’s construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in China’s construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope

This report provides a comprehensive analysis of the construction industry in China. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in China, 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.

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 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- 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
Contact Us

List of Tables
Table 1: Construction Industry Key Data
Table 2: China, Key Economic Indicators
Table 3: China, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: China, Top Commercial Construction Projects by Value
Table 5: China, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: China, Top Industrial Construction Projects by Value
Table 7: China, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: China, Top Infrastructure Construction Projects by Value
Table 9: China, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: China, Top Energy and Utilities Construction Projects by Value
Table 11: China, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: China, Top Institutional Construction Projects by Value
Table 13: China, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: China, Top Residential Construction Projects by Value
Table 15: China, Key Contractors
Table 16: China, Key Consultants
Table 17: China, Construction Output Value (Real, US$ Billion)
Table 18: China, Construction Output Value (Nominal, CNY Billion)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions

List of Figures
Figure 1: North-East Asia, Construction Output (Real % Change), 2020 and 2021
Figure 2: China, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: China, COVID-19 Confirmed Cases
Figure 4: China, Risk Summary
Figure 5: China, Risk Regional Comparison
Figure 6: China, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: China, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: China, Construction Value Add (Accumulated % Change YoY)
Figure 9: China, Total Value of Buildings Completed by Construction Enterprises (CNY Billion)
Figure 10: China, Investment in Real Estate Development, (Accumulated % Change, YoY)
Figure 11: China, Investment in Fixed Assets, (Accumulated % Change, YoY)
Figure 12: China, Total Value of New Contracts Signed by Construction Enterprises, (CYN Trillion, YoY % Change)
Figure 13: China, Construction Projects Momentum Index
Figure 14: China, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 15: China, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 16: China, Total Retail Sales of Consumer Goods, Current Prices, (CNY Billion)
Figure 17: China, Investment in Commercial Real Estate Development (in CNY Billion)
Figure 18: China, Total Floor Space of Commercial Buildings Under Construction, in Million m2 (Accumulated % Change, YoY)
Figure 19: China, Total Floor Space of Office Buildings Under Construction, in Million m2 (Accumulated % Change, YoY)
Figure 20: China, Value of Buildings Completed for Commercial, Hotel and Office Use (% Change, YoY)
Figure 21: China, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 22: China, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 23: China, Total Exports (in US$ Billion)
Figure 24: China, Manufacturing Purchasing Managers Index, Seasonally Adjusted
Figure 25: China, Industrial Value-Add (% Change, YoY)
Figure 26: China, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 27: China, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: China, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 29: China, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 30: China, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: China, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: China, Total Value of Buildings Completed for Scientific Research, Education and Medical Use (% Change YoY)
Figure 33: China, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 34: China, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 35: China, Total Floor Space of Residential Area Under Construction, in Million m2 (Accumulated % Change, YoY)
Figure 36: China, Investment in Residential Real Estate Development (in CNY Billion)
Figure 37: China, Total Value of Residential Buildings Sold (in CNY Trillion)
Figure 38: China, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 39: China, Headquarters of Key Consultants (% of Total Project Pipeline)

Report Title: Construction in China - Key Trends and Opportunities to 2025 (Q2 2021)


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