GlobalData Plc : BBB Program to Boost Philippines Construction Market Growth

The market is projected to grow at an AAGR of more than 7% during the period 2023-2026

LONDON, May 10, 2022 (GLOBE NEWSWIRE) -- The construction market size in the Philippines was valued at $54 billion in 2021. The Philippines construction market growth over the forecast period will be supported by investments in transport, electricity, and housing projects. The industry’s growth in 2021 was supported by a favorable base, an improvement in global economic conditions, and investment in infrastructure projects as part of the government’s flagship Build Build Build (BBB) program.

The Philippines Construction MarketReport offered by GlobalData gives insights of the different sectors, that are driving the overall market growth. The report also gives information about the various ongoing project stages.

PhilippinesConstruction Market Outlook

For more insights, download a free sample report

PhilippinesConstructionMarket SectorOverview

Commercial construction: The commercial construction sector is expected to expand in real terms this year, before normalizing to a positive growth rate over the next four years. The sector’s output over the forecast period will be supported by a gradual recovery in the tourism sector as international tourism resumes, coupled with investments on office, data centers and retail buildings.

Industrial construction: The industrial sector’s output over the forecast period will be supported by an improvement in manufacturing and export activities, coupled with a rise in the total value of permits issued for industrial buildings. A fall in the total value of local and foreign investments approved by the Philippine Economic Zone Authority (PEZA) could, however, weigh on the industrial sector’s output in the initial part of the forecast period.

Infrastructure construction: The infrastructure sector’s output over the forecast period will be supported by investment on transport infrastructure projects as part of the BBB program.

PhilippinesConstructionMarket Segmentation by ConstructionStage

• Pre-Planning
• Planning
• Pre-Execution
• Execution

For more insights on Philippinesconstructionmarket segmentation,download a free sample report

Leading Construction Contractors inPhilippines

• Yuchengco Group of Companies
• Citicore Holdings Investment Inc.
• Quanta Services Inc.
• Top Frontier Investment Holdings
• POSCO Engineering & Construction Ltd
• Ayala Corp.
• Hyundai Motor Group
• Bouygues SA
• Acciona SA
• F.F Cruz Co. Inc.

Leading ConstructionConsultantsin Philippines

• Japan International Cooperation Agency
• Ramboll Group AS
• Hamburg Port Consulting GmbH
• Katahira & Engineers International
• Tonichi Engineering Consultants Inc.
• Oriental Consultants Holdings Company Limited
• Engineering and Development Corporation of the Philippines
• Pacific Consultants Co. Ltd
• Meinhardt Group
• DCCD Engineering Corp.

To know more about keyconstructioncontractors and consultants in the Philippines,download a free sample

Philippines Construction Market Overview

PhilippinesConstructionMarket ReportScope

This report provides:

• A comprehensive analysis of the construction industry in the Philippines.
• Historical and forecast 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.
  
  

FAQs

What was thePhilippines construction market size in 2021?

The construction market size in Philippines was valued at $54 billion in 2021.

What is the Philippines construction market growth rate?

The Philippines construction market is expected to grow at an AAGR of more than 7% during 2023-2026.

What are the key sectors in the Philippines construction market?

The key sectors in the Philippines construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Who are the key contractors in the Philippines construction market?

The key contractors in the Philippines construction market are Yuchengco Group of Companies, Citicore Holdings Investment Inc., Quanta Services Inc., Top Frontier Investment Holdings, POSCO Engineering & Construction Ltd, Ayala Corp., Hyundai Motor Group, Bouygues SA, Acciona SA, and F.F Cruz Co. Inc.

Who are the key consultants in the Philippines construction market?

The key consultants in the Philippines construction market are Japan International Cooperation Agency, Ramboll Group AS, Hamburg Port Consulting GmbH, Katahira & Engineers International, Tonichi Engineering Consultants Inc., Oriental Consultants Holdings Company Limited, Engineering and Development Corporation of the Philippines, Pacific Consultants Co. Ltd, Meinhardt Group, and DCCD Engineering Corp.

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