India Construction Market Excepted to Reach US$179.4 Billion by 2017

2013-05-16
Published : May-2013

RnRMarketResearch.com adds “Construction in India Key Trends and Opportunities to 2017” new report on its database.

The Indian construction industry increased in value at a CAGR of 15.10% between 2008 and 2012 (Review Period), to reach INR22 trillion (US$408.6 billion) in 2012. This growth was supported by the country’s expanding economy, increased government spending on public infrastructure, high urbanization and a supportive foreign direct investment (FDI) system. Construction industry growth is expected to remain strong from 2013 to 2017 (Forecast Period), as a result of the government’s commitment to improving the country’s infrastructure. The infrastructure, industrial and commercial construction markets collectively accounted for 74.2% of the total Indian construction industry in 2012. Consequently, the contribution of these three markets will be significant to the overall Indian construction industry growth over the forecast period. The Indian construction industry’s output is expected to record a CAGR of 15.45% over the forecast period and value INR45.1 trillion (US$838 billion) by 2017.

The commercial construction market accounted for 19.8% of total construction output and valued INR4.4 trillion (US$81.1 billion) in 2012. During the review period, the market recorded a CAGR of 15.52%, largely due to strong growth in the outsourcing and IT industries, and a flourishing retail sector. The market is expected to reach INR8.8 trillion (US$163.5 billion) by 2017, growing at a CAGR of 15.06% over the forecast period. Continuing healthy economic growth, a prosperous retail sector and rising disposable income will benefit the commercial construction market over the forecast period.

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Industrial construction was the second-largest construction category in India during the review period, accounting for a 21.5% share in 2012. The market is expected to grow at an impressive rate over the forecast period, as the country is an attractive manufacturing destination for a large number of international companies. During the review period, industrial construction market output recorded a CAGR of 14.05%, driven mainly by robust growth in the manufacturing plants and chemical and pharmaceutical plants categories. Over the forecast period, the industrial construction market is expected to register a CAGR of 15.40%, reaching a value of INR9.6 trillion (US$179.4 billion) in 2017.

The residential construction market is expected to continue to expand over the forecast period, mainly driven by the rising population, urbanization and increasing disposable income. Residential construction grew at a CAGR of 11.68% over the review period and is expected to record a healthy CAGR of 12.62% in the forecast period. The primary growth driver in the market is urbanization as the country’s urbanization rate increased from 27.8% in 2001 to 31.2% in 2011 and is expected to reach 33% by 2026.

Reasons to buy

– Gain an overview of the market including price dynamics, demographic profiles and key construction indicators.

– Understand the construction market in India by reviewing the commercial, industrial, infrastructural, institutional and residential sectors.

– Get the upper hand on your competitors by obtaining numerous company profiles of some of the top Indian construction companies.

– Enhance your business using Timetric’s market data analysis for the different sectors of the Indian construction market.

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