Philippines Construction Industry Report 2024
DUBLIN–(BUSINESS WIRE)–The “The Philippines Construction Market Size, Trends, and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028” report has been added to ResearchAndMarkets.com’s offering.
The construction industry in the Philippines is expected to expand by 7% in real terms in 2024, supported by increase in total approved foreign investments, especially for the energy and infrastructure projects.
According to the latest figures from the Philippine Statistics Authority (PSA), the total incoming foreign investment approved by Investment Promotion Agencies (IPAs) increased sharply by 267.6% year-on-year (YoY) in 2023, increasing from PHP241.9 billion ($4.4 billion) in 2022 to PHP889.1 billion ($16.1 billion). Under the Fiscal Year (FY) 2024 National Budget (January 2024 to December 2024), PHP7.5 billion ($135.5 million) will be allocated for the modernization and expansion of 22 airports in the country.
The construction industry is expected to register an annual average growth rate of 7.1% between 2025 and 2028, supported by the government’s aim to increase the share of renewable energy in the total energy mix, from 24% in 2020 to 50% by 2040. According to the Department of Energy (DOE), as outlined in the National Renewable Energy Program, announced in September 2023, the country plans to develop an additional 20GW of renewable energy capacity by 2030 and to increase its share to 50% by 2040, amounting to around 52.8GW of renewable energy capacity.
Scope
- Historical (2019-2023) and forecast (2024-2028) 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 analyst’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 analyst’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/9hi5dd
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