Dublin, Oct. 27, 2023 (GLOBE NEWSWIRE) -- The "Vietnam 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.
Vietnam's construction industry is expected to expand by 6.6% in 2023, supported by public investment in transport and energy infrastructure and housing to address severe traffic congestion and widening housing deficits.
However, the growth of the construction industry will be impacted by a slowing of residential construction industry. A tightening of credit availability, elevated levels of debt, weak demand and a government crackdown on corruption triggered the property crisis in country, with over 1,000 real estate projects worth VND800 trillion ($34 billion) expected to have been cancelled this year as a result.
The weakness in the residential sector is, however, set to be offset by an improvement in infrastructure and energy and utilities construction activity. The publisher expects Vietnam's construction industry to register an annual average growth of 7% from 2024 to 2027.
Investment under Vietnam's draft Power Development Plan Eight (PDP VIII) for the period of 2021-30, with a vision towards 2045, will support construction output over the forecast period. In late April 2023, the Ministry of Industry and Trade's (MOIT) six key contents of the draft PDP VIII were approved for comments from the government, including projects on gas- and solar power.
According to the PDPVIII, the total investment capital for power generation and transmission is estimated at VND9.2-VND12.1 quadrillion ($399.2-$523.1 billion) during 2031-2050. Moreover, under the plan, Vietnam's onshore wind power capacity is expected to reach 21.9 gigawatts (GW) by 2030; offshore wind power for new energy production to reach 15GW by 2035 and 24GW by 2050, solar power to reach 4.1GW by 2030 and 189.3GW by 2050, and hydropower is expected to reach 29.3GW by 2030.
Further supporting construction activity will be Ho Chi Minh City's investment in the construction of approximately 454km of highways, belts, national highways and large bridges with a total investment of about VND266 trillion ($11.5 billion) from 2021 until 2025.
Scope
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Vietnam, 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
For more information about this report visit https://www.researchandmarkets.com/r/jc6vdv
Source: GlobalData
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