Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Philippines Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
Following an annual growth of 12.1% in 2022, the Philippine construction industry is expected to expand by 7% in real terms in 2023, supported by improving economic conditions and public and private sector investment in infrastructure, energy, educational and healthcare facilities, coupled with an improvement in tourism and leisure and hospitality activities.
The latest figures from the Philippine Statistics Authority (PSA) show that the Philippine construction industry's value add grew by 10.8% year on year (YoY) in Q1 2023, preceded by Y-o-Y growth of 6.2% in Q4 and 11.4% in Q3 2022, whereas the total gross fixed capital formation (GFCF) in the construction industry rose by 14.3% YoY in Q1 2023, preceded by Y-o-Y growth of 8.6% in Q4 and 10.8% in Q3 2022.
The report expects the construction industry in the Philippines to register an annual average growth rate of 7.2% between 2024 and 2027, supported by the government's focus on the development of the country's transport and energy infrastructure, coupled with investments to develop affordable housing and social infrastructure.
In April 2023, the government announced that it had started the construction of around 1.2 million housing units under the Pambansang Pabahay para sa Pilipino Housing Program (4PH). The energy and utilities construction sector's output over the forecast period will be supported by the country's plan to increase the renewable energy share in the total power generation mix from 21% in 2020 to 35% by 2030 and 50% by 2040.
In May 2023, the National Economic and Development Authority (NEDA) released the Public Investment Program (PIP) 2023-28, a six-year program to implement priority programs and projects (PAPs) in the country. According to the NEDA, 5,329 priority PAPs with an investment of PHP20.2 trillion ($362.6 billion) will be implemented under the PIP across the country from 2023 to 2028
Scope
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in the Philippines, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/grubg1
Source: GlobalData
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