DUBLIN, Jan. 21, 2021 /PRNewswire/ -- The "Construction in China - Key Trends and Opportunities to 2024" report has been added to ResearchAndMarkets.com's offering.
The Chinese construction industry has already recovered from the disruption caused by the COVID-19 pandemic. In Q3 2020, the construction industry's value-add grew by 2%, following year-on-year (Y-o-Y) declines of 1.9% in Q2 and 17.5% in Q1 2020, according to the National Bureau of Statistics (NBS). With the gradual resumption of construction activities, the industry has regained growth momentum, and is expected to expand in 2020 as a whole. However, there will only be a marginal expansion compared to its performance in recent years. China's construction industry value-add grew by 5.6% in real terms in 2019, following growth of 4.8% in the previous year, driven by strong growth in real estate investment and an increase in fixed asset investments.
To mitigate the economic impact of the pandemic, the country fast-tracked the implementation of major infrastructure projects (except the hard-hit Hubei region), resuming nearly 90% of all major infrastructure projects as soon as mid-March 2020, at a time when major markets across the world had only just started to implement COVID-19 containment measures. In another positive development, real estate and fixed-asset investments have regained growth momentum, following the temporary disruption in the first quarter of the year. Moreover, in September 2020, the National Development and Reform Commission (NDRC) approved 14 fixed-asset investment projects worth CNY177.8 billion (US$25.15 billion), following approvals of CNY68.9 billion (US$10.1 billion) in August 2020.
The publisher expects the country's construction industry to grow by 1.9% in 2020 and record an average annual growth of 4.7% between 2021-2024. The industry's growth over the forecast period is expected to be driven by investments on new infrastructure projects, which in addition to transport projects, also includes investments 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 2020-2025. The industry's growth will also be driven by investments in renewable energy and residential projects.
The report provides detailed market analysis, information, and insights into the Chinese construction industry, including -
The Chinese 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 the Chinese construction industry
Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in China. It provides -
Historical (2015-2019) and forecast (2020-2024) 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
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3.1 Economic Performance
3.2 Political Environment and Policy
3.4 COVID-19 Status
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
6 Construction Market Data
For more information about this report visit https://www.researchandmarkets.com/r/ub9ywc
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