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The China construction market size reached approximately USD 4.80 trillion in 2023. The market is projected to grow at a CAGR of 6.0% between 2024 and 2032, reaching a value of around USD 8.11 trillion by 2032.
Construction refers to the process of creating physical structures, buildings, infrastructure, or facilities by assembling or erecting various materials and components. It involves the planning, design, financing, coordination, and execution of projects to bring a concept or idea into tangible existence.
From 2013 to 2021, China extended a minimum of $331 billion in financing to various nations, predominantly in the Global South. Notably, African countries accounted for a significant portion, receiving a total of $91 billion during this period.
Based on construction type, the market can be bifurcated into new construction and renovations. The market categorisation, based on end-use, includes commercial, residential, industrial, and institutional.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the China construction market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
According to the China construction market analysis, new constructions are expected to surge during the forecast period driving the market. In 2023, over two-thirds of China's regions collectively made an investment exceeding $1.8 trillion.
In March 2023, China's construction activity reached a pinnacle, as indicated by an index soaring to its highest level since 2012. This remarkable upsurge highlights the industry's robust expansion and momentum, reflecting the magnitude of ongoing construction endeavours shaping the country's landscape.
Owing to the rapid urbanisation, large investments are made for housing in cities to, which is expected to significantly influence the China construction market share in the coming years. The demand for housing, both in urban and rural areas, leads to the construction of apartment complexes, gated communities, and single-family homes.
China State Construction Engineering Corp. Ltd. (CSCEC) is one of the largest construction and real estate conglomerates globally. It operates in various segments of the construction industry, including housing construction, infrastructure development, and real estate. CSCEC engages in large-scale projects both domestically and internationally, contributing to iconic structures, high-rise buildings, transportation networks, and residential complexes.
China Railway Tunnel Group Co., Ltd. (CRTG) is a leading construction and engineering company specializing in tunnelling and underground infrastructure. CRTG is instrumental in the construction of railway tunnels, subways, underground passages, and other complex underground structures. With advanced technologies and vast experience in tunnelling projects, CRTG has contributed significantly to the development of transportation infrastructure, both within China and internationally.
China Petrochemical Corp., commonly known as SINOPEC, is one of the largest integrated energy and chemical companies in China. It operates across the entire oil and gas value chain, including exploration, production, refining, marketing, and petrochemicals. SINOPEC plays a crucial role in meeting China's energy demands, supplying a wide range of petroleum and chemical products. It's also involved in research and development, aiming to enhance energy efficiency and promote sustainability within the energy sector.
Other key players in the China construction market are China Communications Construction Company Limited, Power Construction Corporation of China, China Metallurgical Group Corporation, Shanghai Construction Engineering Group Co. Ltd., China Railway Construction Corporation Limited, China Nuclear Engineering & Construction Corporation Limited, and China Chemical Engineering Co., Ltd., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Construction Type |
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Breakup by End Use |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Construction Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Construction Historical Market (2018-2023)
8.3 Asia Pacific Construction Market Forecast (2024-2032)
8.4 Asia Pacific Construction Market Breakup by Country
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 ASEAN
8.4.5 Australia
8.4.6 Others
9 China Construction Market Overview
9.1 Key Industry Highlights
9.2 China Construction Historical Market (2018-2023)
9.3 China Construction Market Forecast (2024-2032)
10 China Construction Market by Construction Type
10.1 New Construction
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Renovations
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 China Construction Market by End Use
11.1 Commercial
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Residential
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Industrial
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Institutional
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 China State Construction Engineering Corp. Ltd.
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 China Railway Tunnel Group Co., Ltd.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 China Petrochemical Corp. (SINOPEC)
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 China Communications Construction Company Limited
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Power Construction Corporation of China
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 China Metallurgical Group Corporation
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Shanghai Construction Engineering Group Co. Ltd.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 China Railway Construction Corporation Limited
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 China Nuclear Engineering & Construction Corporation Limited
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 China Chemical Engineering Co., Ltd.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Construction Market: Key Industry Highlights, 2018 and 2032
2. China Construction Market: Key Industry Highlights, 2018 and 2032
3. China Construction Historical Market: Breakup by Construction Type (USD Trillion), 2018-2023
4. China Construction Market Forecast: Breakup by Construction Type (USD Trillion), 2024-2032
5. China Construction Historical Market: Breakup by End Use (USD Trillion), 2018-2023
6. China Construction Market Forecast: Breakup by End Use (USD Trillion), 2024-2032
7. China Construction Market Structure
In 2023, the market reached an approximate value of USD 4.80 trillion.
The market is projected to grow at a CAGR of 6.0% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 8.11 trillion by 2032.
The market is driven by the focus on infrastructure development and the hefty investments by government in commercial and public infrastructure.
The growing urbanisation and the integration of advanced technologies has enhanced the growth of the market.
China has initiated a new energy vehicle (NEV) manufacturing plant in Changchun, Jilin. The investment amounts to USD 5,223 million and since the projects initiation in Q2 2022, it is expected to be completed in Q4 2024.
The different end-uses are commercial, residential, industrial, and institutional.
The key players in the market include China State Construction Engineering Corp. Ltd., China Railway Tunnel Group Co., Ltd., China Petrochemical Corp. (SINOPEC), China Communications Construction Company Limited, Power Construction Corporation of China, China Metallurgical Group Corporation, Shanghai Construction Engineering Group Co. Ltd., China Railway Construction Corporation Limited, China Nuclear Engineering & Construction Corporation Limited, and China Chemical Engineering Co., Ltd., among others.
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