The Future of Construction in China to 2015: Infrastructure Projects Continue to Drive Expansion
The highest contributor to the industry was the infrastructure construction market. During the review period the largest categories in the segment were energy and communication infrastructure. The increase in demand for these categories is a result of industrialization and a growing population.
The second highest contributor to the overall Chinese construction industry was the industrial construction market, it was also the second fastest growing market during the review period. The highest contributing categories included Manufacturing plants, chemical and pharmaceutical plants which accounted for more than half of the industrial construction activity in 2010.
The rapid growth of Chinaâ€˜s middle class has raised demand for high quality homes, driving the residential construction market at a CAGR of 17.05% over the review period. Market growth was largely a result of the residential building redevelopment category. The Chinese residential construction market is expected to register a CAGR of 10.78% during the forecast period.
The commercial construction market increased over the review period and the growth was largely driven by the retail buildings and the leisure and hospitality buildings categories. In recent years the Chinese retail industry experienced significant growth due to the implementation of various economic reforms such as the relaxation of regulations regarding foreign investment. There has been rapid commercial development in major cities such as Beijing, Shanghai and Guangzhou over recent years.
ICD Research is a full-service global market research agency and premium business information brand specializing in industry analysis in a wide set of B2B and B2C markets. ICD Research has access to over 400 in-house analysts and journalists and a global media presence in over 30 professional markets enabling us to conduct unique and insightful research via our trusted business communities.
Through its unique B2B and B2C research panels and access to key industry bodies, ICD Research delivers insightful and actionable analysis. The ICD Research survey capabilities grant readers access to the opinions and strategies of key business decision makers, industry experts and competitors as well as examining their actions surrounding business priorities.
To purchase this detailed report, please click here.