India Construction Market - Growth, Trends, and Forecast (2019 - 2024)

India Construction Market - Segmented by (Commercial Constructions, Residential Constructions, Industrial Constructions, Infrastructure (Transportation Constructions)), and Energy and Utility Constructions - Growth, Trends, and Forecast (2019 - 2024)

Market Snapshot

India Cons CAGR
Study Period:

2015-2024

Base Year:

2018

CAGR:

6%

Key Players:

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Market Overview

The Indian construction market is expected to register a CAGR of 6% over the forecast period, 2019 – 2024. Infrastructure sector plays and vital role in the growth and development of the Indian economy. Nearly, 9% of India’s GDP is spent on Infrastructure services. It comprises of construction of power, bridges, dams, roads and urban infrastructure development which also forms the base and supporting factor for other services sectors.

Indian companies, both public and private sectors, announced projects worth 1.99 trillion in the quarter ending March 2019, 16% lower than what was announced in the quarter ending December 2018, and 46% lower than the year-ago period. 

The infrastructure sector in India witnessed 33 deals in 2016- 17 involving USD3.49 billion as against USD 2.98 billion raised across 31 deals in 2015-16, with the majority of deals led by the power, roads and renewable sectors. Also, in April 2017, companies in Malaysia and India signed deals for infrastructure projects worth USD 3.86 to be implemented in India.

India has a requirement of investment worth USD 646 billion in the infrastructure sector by 2022; 70 percent of which will be required in the power, roads and urban infrastructure sectors.

Scope of the Report

The India construction market covers the growing construction projects in different sectors, like commercial construction, residential construction, industrial construction, infrastructure (transportation construction), and energy and utility construction. The construction market further segmented into the type of constructions like additions, demolition & new constructions and new constructions.

BY SECTOR
Commercial Construction
Residential Construction
Industrial Construction
Infrastructure (Transportation) Construction
Energy and Utilities Construction
BY CONSTRUCTION TYPE
Additions
Demolition and New Construction
New Constructions

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Key Market Trends

Govt Schemes and FDI Inflows are driving the market.

Ruling Govt. Initiatives such as Housing for all the government’s flagship scheme PMAY launched in June 2015 aims to build 20 million urban homes and 30 million rural houses by 2022, Smart Cities, etc. are fuelling the growth of the Urban Infrastructure and construction development. As part of PMAY, In March 2018, construction of an additional 3, 21,567 affordable houses was sanctioned under PMAY.

the Government has given a massive push to the infrastructure sector by allocating USD61.92 billion for the sector in its Union Budget 2017-18. Later on, In its 2018-19 budget, the government increased its expenditure towards infrastructure development by 20.9% from Rs 4.9 trillion (USD75.9 billion) in the financial year 2017-2018, to Rs 6 trillion (USD89.2 billion).

The construction and infrastructure sector has received FDI inflows amounting to USD 24.54 billion and USD 9.82 billion, respectively from April 2000 to June 2017. To attract more FDIs the Indian Govt has permitted 100 percent FDI across various infrastructure sectors.

Taking this advantage in 2018, a UAE based firm, having previously invested USD 1 billion in India, announced to invest another USD 1 billion in India's infrastructure sector along with logistics and container terminals.

In the same year, another global infrastructure investment company announced its plans to raise up to USD 4 billion through its second infrastructure fund, which will be invested in infrastructure assets in India and across the globe.

Govt Schemes India

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Potential for rising Infrastructural Development Deals in the forecasted period.

The construction sector has potential investment opportunities across all the country's infrastructure activities.

In April 2017, the National Highways and Infrastructure Development Corp. bagged a project to build 5 tunnels worth USD 3.42 billion. These tunnels, namely, Zojila tunnel at Zojila Pass (14kms), Vailoo Tunnel at Sinthan Pass (8-10kms), Z-Morah tunnel (6.5kms), Pir-Ki-Gali Tunnel on National Highway-244 (8.5kms) and Daranga Tunnel at Shudh Mahadev (4.5kms), will help in avoiding road accidents because of avalanches.

In January 2017, the government proposed to lay down cycle tracks on all highways and major roads pan India, to promote the use of electric cars and public transport.

The Indian energy sector is expected to offer investment opportunities worth USD 300 billion over the next 10 years.

 

Potential Infra India

Competitive Landscape

The India construction market is highly competitive, despite the major local and international players have created enough competitive environment in the sector. Still, the market opens opportunities for small and medium players due to increasing govt investments in the sector. The India construction market presents opportunities for growth during the forecast period, which is expected to further drive market competition. With large players competing with others for a significant share leaves the India construction market with no observable levels of consolidation.

Major Players

  1. L&T
  2. GVK Power & Infrastructure Ltd.
  3. Essar Oil Ltd.
  4. SHAPOORJI PALLONJI & CO.
  5. GMR Infrastructure Ltd.

* Complete list of players covered available in the table of contents below

Comp Landscape India

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Market

    2. 1.2 Market Definition

    3. 1.3 Executive Summary

  2. 2. RESEARCH METHODOLOGY

    1. 2.1 Study Deliverables

    2. 2.2 Study Assumptions

    3. 2.3 Analysis Methodology

    4. 2.4 Research Phases

  3. 3. MARKET INSIGHTS

    1. 3.1 Current Economic and Construction Market Scenario

    2. 3.2 Technological Innovations in the Construction Sector

    3. 3.3 Impact of Government Regulations and Initiatives on the Industry

    4. 3.4 Review and Commentary on the Extent of "GOVT INFRSTRUTCURE DEVELOPMENT SCHEMES"

    5. 3.5 Comparison of Key Industry Metrics of INDIA with Other ASIAN Countries (Analyst View)

    6. 3.6 Comparison of Construction Cost Metrics of INDIA with Other ASIAN Countries (Analyst View)

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

    2. 4.2 Restraints

    3. 4.3 Opportunities

    4. 4.4 Porters Five Forces Analysis

    5. 4.5 Industry Value Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 BY SECTOR

      1. 5.1.1 Commercial Construction

      2. 5.1.2 Residential Construction

      3. 5.1.3 Industrial Construction

      4. 5.1.4 Infrastructure (Transportation) Construction

      5. 5.1.5 Energy and Utilities Construction

    2. 5.2 BY CONSTRUCTION TYPE

      1. 5.2.1 Additions

      2. 5.2.2 Demolition and New Construction

      3. 5.2.3 New Constructions

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concentration Overview

    2. 6.2 Strategies Adopted by Major Players

  7. 7. COMPANY PROFILES

    1. 7.1 L&T

    2. 7.2 GVK Power & Infrastructure Ltd.

    3. 7.3 TATA PROJECTS

    4. 7.4 Essar Oil Ltd.

    5. 7.5 Megha Engineering & Infrastructures Limited

    6. 7.6 SHAPOORJI PALLONJI & CO.

    7. 7.7 Pathbreaking Projects Limited

    8. 7.8 NAGARJUNA CONSTRUCTION COMPANY

    9. 7.9 HINDUSTAN CONSTRUCTION CO. LTD.

    10. 7.10 GMR Infrastructure Ltd.*

  8. *List Not Exhaustive
  9. 8. INVESTMENT ANALYSIS

  10. 9. MAJOR INFRASTRUCTURE DEVELOPMENT PROJECTS (PROJECT DESCRIPTION, VALUE, LOCATION, SECTOR, CONTRACTORS)

    1. 9.1 Existing Infrastructure

    2. 9.2 On-going Projects

    3. 9.3 Upcoming Projects

  11. 10. FUTURE OF CONSTRUCTION SECTOR IN INDIA

  12. 11. APPENDIX

  13. 12. DISCLAIMER

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