China Construction Market Size (2024 - 2029)

The market size of the China construction industry is poised for significant growth, driven by the country's stable economic expansion and strategic government initiatives. As the largest building market globally, China accounts for a substantial portion of worldwide construction investments, with plans to further enhance its infrastructure and manufacturing sectors. The government's focus on developing prefabricated buildings and expanding the high-speed rail network is expected to be pivotal in shaping the industry's future. Despite challenges posed by the COVID-19 pandemic, which affected cash flow and retail activities, the market's trajectory remains positive, supported by efforts to optimize economic structures and reduce environmental impact.

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Market Size of China Construction Industry

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China Construction Market Summary
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

China Construction Market 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.

China Construction Industry Segmentation

Construction is the installation, maintenance, and repair of buildings and other stationary structures, as well as the construction of roadways and service facilities that form fundamental components of structures and are required for their operation. 

The China construction market is segmented by sector (residential, commercial, industrial, infrastructure - transportation, energy, and utilities). 

The report provides market size and forecasts in value (USD) for all the above segments.

By Sector
Residential
Commercial
Industrial
Infrastruture (Transportation)
Energy and Utilities
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China Construction Market Size Summary

The Chinese construction industry is poised for significant growth, driven by the country's robust economic stability and strategic government initiatives. As the largest construction market globally, China accounts for a substantial portion of worldwide construction investments. The government's focus on developing a greener, smarter, and safer construction sector is evident in its plans to increase the use of prefabricated buildings and reduce construction waste. Additionally, the expansion of the high-speed rail network by the state-owned railway company is expected to further stimulate infrastructure development. Despite challenges posed by the COVID-19 pandemic, which led to fluctuations in retail activity and rental income, the industry has shown resilience, with infrastructure projects maintaining strong growth.

The market landscape is characterized by a fragmented structure, offering opportunities for both large and small to medium-sized enterprises. Major players such as China State Construction Engineering and China Railway Group dominate the market, but the competitive environment remains open for new entrants due to ongoing government investments. The demand for residential and non-residential infrastructure is expected to rise, fueled by urbanization, increased household incomes, and an aging population. The construction industry is also witnessing a surge in healthcare facilities and educational institutions, driven by rising consumer spending. Overall, the Chinese construction market is set to experience continued expansion, supported by favorable government policies and a growing urban population.

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China Construction Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Government Infrastructure Spending

      2. 1.2.2 Urbanization and Increasing Disposable Incomes

    3. 1.3 Market Restraints

      1. 1.3.1 Oversupply in the Real Estate

      2. 1.3.2 Labor Shortages

    4. 1.4 Market Opportunities

      1. 1.4.1 Technology Advancements

      2. 1.4.2 Green Building Initiatives

    5. 1.5 Industry Attractiveness- Porter's Five Forces Analysis

      1. 1.5.1 Threat of New Entrants

      2. 1.5.2 Bargaining Power of Buyers/Consumers

      3. 1.5.3 Bargaining Power of Suppliers

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Value Chain / Supply Chain Analysis

    7. 1.7 Technological Innovations in the Construction Sector

    8. 1.8 Impact of Government Regulations and Initiatives on the Industry

    9. 1.9 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Sector

      1. 2.1.1 Residential

      2. 2.1.2 Commercial

      3. 2.1.3 Industrial

      4. 2.1.4 Infrastruture (Transportation)

      5. 2.1.5 Energy and Utilities

China Construction Market Size FAQs

The China Construction Market size is expected to reach USD 4.59 trillion in 2024 and grow at a CAGR of 5.07% to reach USD 5.87 trillion by 2029.

In 2024, the China Construction Market size is expected to reach USD 4.59 trillion.

China Construction Market Report Snapshots

China Construction Industry Size - Market Report on Share, Growth Trends & Forecasts Analysis (2024 - 2029)