Market Size of China Construction Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.59 Trillion |
| Market Size (2029) | USD 5.87 Trillion |
| CAGR (2024 - 2029) | 5.07 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Construction Market Analysis
The China Construction Market size is estimated at USD 4.59 trillion in 2024, and is expected to reach USD 5.87 trillion by 2029, growing at a CAGR of 5.07% during the forecast period (2024-2029).
- China's economic growth has remained generally stable, the development trend of stability and progress, the main macroeconomic indicators are operating in a reasonable range, and the economic structure is being optimized and adjusted.
- China is in the middle of a massive boom in manufacturing. The nation has the largest building market in the world, accounting for 20% of all construction investments worldwide. And it is set to grow: China is expected to spend nearly USD 13 trillion on buildings by 2030. Due to the impact of COVID-19, -19 investments were cut as cash flow across the developer market. Developed projects and commercial businesses were subjected to large fluctuations in retail activity, rental income declined, and businesses decided to shrink office space to lower rental costs.
- In January 2022, China unveiled plans to develop its construction industry during the 14th Five-Year Plan (2021-2025), paving a pillar of the country's economy on a greener, smarter and safer path.
- The Government specifically aims for the development of prefabricated buildings that are partially or fully assembled in factories and shipped to construction sites for assembly will account for more than 30% of new construction in the country. New construction sites will generate less than 300 tons of construction waste per 10,000 square meters. In addition, China's state-owned railway company plans to double the size of its high-speed rail network over the next 15 years. This will drive the growth of the infrastructure construction sector.
