Dublin, Feb. 23, 2022 (GLOBE NEWSWIRE) -- The "Asia Pacific Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units) across 40+ Market Segments in Residential, Commercial, Industrial, Institutional and Infrastructure Construction, Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Despite the economic challenges, the Asia Pacific construction industry recorded significant growth in 2021. Demand for residential construction remained strong in big economies. On the other hand, infrastructure construction experienced more significant investments, and regional construction companies expanded in other markets. According to the publisher's Q4 2021 Global Construction Market Survey, demand for commercial properties remains stable as key e-commerce companies create demand for larger commercial spaces.
Chinese authorities are loosening restrictions on home approvals and lending to avoid industry collapse
With the construction industry is facing many operational challenges, authorities have started to loosen restrictions on home approvals and lending to avoid a complete collapse. According to the publisher's Q4 2021 Global Construction Market Survey, in China, bank credit is being offered to property firms much higher than in any period during Q2 2021 and Q3 2021. Notably, mortgage lending in China increased by more than US$30 billion (200 billion yuan) in October 2021 from around US$23 billion (150 billion yuan) in September 2021.
Approvals for home sales and property loans are gaining momentum in Chengdu, the capital of the southwestern province of Sichuan. Moreover, restrictions on using proceeds from pre-sales have also been eased in the region. The Chinese Government is looking to ensure that there is enough liquidity to maintain construction in the property sector. Consequently, the publisher expects loosening restrictions to support the market growth in the next six to eight quarters.
Spending on infrastructure projects is expected to support industry growth in India
Increased focus on developing the infrastructure is offering support for the growth of the construction sector in the country. In October 2021, the government announced a master plan for multi-modal connectivity to develop the infrastructure to lower logistic costs and improve the economy. Notably, the government allocated US$8.28 billion for road works and US$7.88 billion for the development of National Highways in the Union Budget 2021.
By March 2022, the government plans to construct 8,500 kilometers of roads and an additional 11,000 kilometers of National Highway corridors in the country. The publisher expects these construction activities to support the growth of the industry in 2022. For further developing the infrastructure in the country, the Indian Government and the Dubai Government inked an agreement for the construction of industrial parks; IT towers, logistics centers, medical college, multipurpose towers, and a specialized hospital in Jammu & Kashmir.
Additionally, the Union Ministry of Road Transport and Highways has also planned infrastructure projects worth INR 700,000 Crore (US$91 billion) over the next two to three years. The publisher expects this increased spending by the government on national infrastructure development to keep supporting the growth of the construction industry from the short to medium-term perspective.
Government intervention is expected to help local construction firms in Singapore
In October 2021, Singapore announced certain measures to help support the construction firms in the country. For instance, both the Ministry of National Development and Building and Construction Authority has separately taken measures for helping out the construction firms in mitigating the impact of the global pandemic.
The Ministry of National Development (MND) announced the extension of relied periods under the Covid-19 Act. Notably, the Covid-19 Act offers temporary relief to construction firms and other businesses as well as individuals who have been affected by the global pandemic outbreak. The Building and Construction Authority (BCA), on the other hand, announced making changes to the public sector construction tenders.
Moreover, the amendments made by the BCA will allow construction firms to apply for an extension of time because of the global pandemic and to include provisional amounts for the expected global pandemic-related costs, which were unknown at the time of the tender. Additionally, the amendment also sets out the principle of co-sharing losses and costs arising from the global pandemic or from the measures introduced by the Singaporean Government.
Innovation in the construction sector is expected to meet the growing demand for affordable infrastructure in Indonesia
In Indonesia, the Public Works and Public Housing Ministry (PUPR) is looking at the use of concrete 3D printing to meet the growing demand for affordable infrastructure. Moreover, the PUPR, along with the construction firm PT.PP Tbk and Autoconz have used the technology to erect structures layer-by-layer from the mortar.
According to the PUPR, adopting the 3D printing technology in the construction sector is expected to help the nation build homes more quickly and sustainably. Apart from using innovative technology for building homes, the ministry is also planning to use 3D printing technology to construct schools in the country. The wider implementation of the technology for building residential and commercial projects in Indonesia will also provide the Indonesian Government some respite, which is currently facing funding problems on the back of the global pandemic.
Moreover, the publisher expects the use of innovative technology to boost the infrastructure development in the country, which will subsequently assist the growth of the overall industry from the short to medium-term perspective.
This report from the publisher provides data and trend analyses on Asian construction industry, with over 100 KPIs. This is a data-centric report and it provides trend analyses with over 1,500+ charts and 1,200+ 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.
Reasons to buy
- In-depth Understanding of Construction Market Dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 40+ market segments and sub-segments of Asia building and infrastructure construction industry.
- Volume and Value Data: Get detailed understanding of the market both from value and volume (both by activity and units) perspective for historical as well as forecast period
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate your strategy; assess market specific key trends, drivers and risks in construction industry.
- City Level Insights: Get city level trend analyses by tier-1, tier-2, and tier-3 cities.
Key Topics Covered:
1. About this Report
2. Construction Industry Dynamics and Growth Prospects
2.1 Construction Industry Growth Dynamics
2.1.1 Construction Industry Market Size by Value, 2017 - 2026
2.1.2 Building Construction Industry Market Size by Value, 2017 - 2026
2.1.3 Infrastructure Construction Industry Market Size by Value, 2017 - 2026
2.1.4 Market Share Analysis by Building Construction Sectors, 2017 - 2026
2.1.5 Market Share Analysis by Infrastructure Construction Markets, 2017 - 2026
2.1.6 Green Construction Industry Market Size by Value, 2017 - 2026
2.1.7 Green Building Construction Industry Market Size by Value, 2017 - 2026
2.1.8 Green Infrastructure Construction Industry Market Size by Value, 2017 - 2026
2.1.9 Market Share Analysis by Green Building Construction Sectors, 2017 - 2026
3. Residential Construction Industry Market Size and Forecast
3.1 Residential Building Construction Market Size by Value, 2017 - 2026
3.2 Residential Building Construction Market Size by Volume, 2017 - 2026
3.3 Residential Building Average Construction Value, 2017 - 2026
3.4 Residential Construction Analysis and Growth Dynamics by Number of Units, 2017 - 2026
3.5 Snapshot by Residential Building Construction Markets by Development Stage
3.6 New Residential Building Construction Market Size by Value, 2017 - 2026
3.7 Re-development & Maintenance Residential Building Construction Market Size by Value, 2017 - 2026
3.8 Green Residential Building Construction Market Size by Value, 2017 - 2026
3.9 Green Residential Building Construction Market Size by Volume, 2017 - 2026
4. Analysis by Residential Construction Markets Outlook by Construction type
5. Analysis by Residential Construction Markets Outlook by Key Cities
6. Analysis by Residential Construction Markets Outlook by Price Point
7. Commercial Construction Industry Market Size and Forecast
8. Office Building Construction Outlook
9. Retail Building Construction Outlook
10. Hospitality Building Construction Outlook
11. Restaurant Building Construction Outlook
12. Sports Facility Building Construction Outlook
13. Other Commercial Building Construction Outlook
14. Institutional Construction Industry Market Size and Forecast
15. Outlook and Growth Dynamics by Institutional Building Construction Sectors
16. Industrial Construction Industry Market Size and Forecast
17. Outlook and Growth Dynamics by Industrial Building Construction Sectors
18. Infrastructure Construction Outlook
19. Marine and Inland Water Infrastructure Construction Industry Market Size and Forecast
20. Utility System Infrastructure Construction Industry Market Size and Forecast
21. Transport Infrastructure Construction Industry Market Size and Forecast
22. Further Reading
For more information about this report visit https://www.researchandmarkets.com/r/y69bbs
