DUBLIN--(BUSINESS WIRE)--The "China Construction Industry Databook Series - Market Size & Forecast (2016 - 2025) by Value and Volume (Area and Units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction - Q1 2021 Update" report has been added to ResearchAndMarkets.com's offering.
While the coronavirus outbreak severely impacted the Chinese construction industry in the first quarter of 2020, the resumption of construction activities picked up pace in the second quarter. After China emerged from the pandemic in March, the government of China introduced a program including a series of fiscal stimulus for constructing roads, bridges, broadband, utilities, and railroads across the country. Consequently, the prices of metals including nickel, copper, iron ore, zinc, and others that are used to build infrastructure increased.
While the construction output recorded a lower than previously predicted growth in 2020, it is forecast to rebound sharply in 2021. Moreover, China is on its way to becoming the largest single construction industry over the next decade.
With the government pumping the money into the economy, GDP growth is expected to remain steady over the forecast period. This will be supported by increased government spending in the construction sector in China. The increased spending in the construction industry is also reflected in the fact that the sales of construction equipment have surged in China.
With the Chinese government cutting the availability of mortgage loans to consumers, the sector is expected to be impacted going forward. To make consumers spend more rather than repaying debt, the policymakers are seeking to drive recovery by cutting the availability of mortgage loans. As a result, it is expected the prices of residential construction will remain stable in the near-term.
The commercial construction sector in China is also recovering post-pandemic. With national and regional governments pumping money into commercial construction, the outlook for 2021 remains positive. In Guangdong, the regional officials are planning to pump approximately US$100 billion on public medical facilities, among other infrastructure construction activities.
Rising wages are also expected to boost consumer spending behavior in China. Thus, demand will spur for a range of services including education and entertainment, which subsequently will create demand for facility construction in the country.
The post-pandemic recovery is supported because of the surge in infrastructure spending from the Chinese government. Thus, offering a positive outlook for the construction sector in 2021. Moreover, the state railway operator in China intends to double the size of its high-speed railway network, over the next fifteen years. Thus, supporting the growth of its infrastructure construction sector.
According to this Q4 2020 Global Construction Survey, construction industry in China is expected to grow by 12.4% to reach US$ 1355314.5 million in 2021. Despite near-term challenges in certain construction sectors, medium to long term growth story in China remains intact. The construction industry in China is expected to grow steadily over the next four quarters. The growth momentum is expected to continue over the forecast period, recording a CAGR of 6.4% during 2021-2025. The construction output in the country is expected to reach US$ 1737386.8 million by 2025.
This report provides data and trend analyses on construction industry in China, with over 100 KPIs. This is a data-centric report, and it provides trend analyses with over 140+ charts and 110+ tables. It details market size & forecast, emerging trends, market opportunities, and investment risks in over 40 segments in residential, commercial, industrial, institutional, and infrastructure construction sectors.
It provides a comprehensive understanding of construction industry sectors in both value and volume (both by activity and units) terms. The report focuses on combining industry dynamics with macro-economic scenario and changing consumer behavior to offer a 360-degree view of the opportunities and risks.
For more information about this report visit https://www.researchandmarkets.com/r/j3cjfb
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900