DUBLIN–(BUSINESS WIRE)–The “Canada’s Construction Industry Data Book Series – Market size and forecast by value and volume (area and units) on over 40 market segments in residential, commercial, industrial, institutional and building construction infrastructure, Q1 2022 update” report has been added to from ResearchAndMarkets.com offer.

According to the World Construction Survey for the fourth quarter of 2021, the construction industry in Canada is expected to grow by 8.8% to reach CAD 190,860 million in 2022.

Despite short-term challenges in some construction sectors, Canada’s mid- to long-term growth story remains intact. The construction industry in Canada is expected to experience steady growth over the next four quarters. The growth momentum is expected to continue over the forecast period, registering a CAGR of 5% over the period 2022-2026. Construction output in the country is expected to reach CAD 232,243.2 million by 2026.

Low interest rates, pent up savings and economic expansion have boosted growth in the Canadian construction market

In Canada, the growth of the construction sector is stimulated by various factors, including low interest rates, pent-up savings and the general shift in consumption from services to goods. The global pandemic has slowed the growth of the construction industry to some extent; however, the sector has rebounded significantly over the past four quarters due to the economic recovery. For example,

The value of building permits jumped significantly while peaking at over US$10 billion in the second quarter of 2021. Notably, growth in construction activity is widely seen in three main sectors – office expansion residential, industrial and commercial.

Residential: In Canada, there is growth in residential construction for all types of housing units, ranging from single-family homes to high-rise condominiums. The publisher also expects growth in rental apartments to accommodate the growing population of urban cities over the next four to eight quarters. Overall, the publisher expects robust growth in the residential construction sector in the short to medium term.

Industrial: On the other hand, growth in the industrial sector is driven by low vacancy rates and demand for physical goods. According to JLL Canada, more than 36 million square feet of industrial space is under construction as of December 2021. The publisher expects this to support the growth of the entire construction industry over the next four to the next eight quarters in the country.

Commercial: Commercial building construction volume should also further support industry growth in Canada over the next four to eight quarters. Even as the future of the workplace remains uncertain, there are still 19 million square feet of office space under construction across the country. Overall, the publisher expects positive growth in the Canadian construction industry in the short to medium term.

Major infrastructure construction projects expected to drive industry growth in Canada

The Canadian government is expected to invest heavily in public transit projects in the coming quarters. Notably, mass transit projects dominate the list of public sector infrastructure projects that are currently underway in 2021. For example,

  • GO Expansion – The On Corridor project is one of the largest planned infrastructure projects in the country. The construction project includes the rehabilitation and renewal of the rail transit corridor and civil infrastructure. With a total investment of US$15.705 billion, the completion date of the construction project is expected to be 2025.

  • Some of the other transit projects undertaken in the country, such as Ontario Line (US$10.9 billion), Reseau Express Metropolitan (REM) (US$6.32 billion) and Hurontario LRT (US$5.632 billion) , should support the growth of the construction industry in Canada in the short to medium term.

  • In addition to these transit infrastructure projects, construction activities on the US$12.8 billion Darlington Nuclear Generating Station retrofit project and the US$10.7 billion construction Site C clean energy projects are also expected to support the growth of the construction industry in Canada over the next four to eight quarters.

The publisher expects the growing investment in infrastructure construction projects to continue to support the growth of the entire industry in Canada in the short to medium term.

Databook cover

This publisher’s report provides data and analysis of trends on the construction industry in Canada, with more than 100 KPIs. It is a data-centric report and it provides trending analysis with over 140 graphs and over 110 tables. It details market size and forecasts, emerging trends, market opportunities and investment risks in over 40 segments across the residential, commercial, industrial, institutional and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in terms of value and volume (both by activity and by units). The report focuses on combining industry dynamics with the macroeconomic scenario and changing consumer behavior to provide a 360 degree view of opportunities and risks.

Scope

This report provides market size and forecasts in over 40 construction segments for a 10-year period from 2016 to 2025 in Canada. KPIs covered include the following:

  • Market size in value

  • Market size in construction volume

  • Number of units

Canada Residential Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:

  • Type of housing (multi-family, single-family)

  • Key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)

  • Price level / income level (luxury, mid-range, affordable)

  • Construction phase (new construction, redevelopment and maintenance)

Canada Green Residential Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:

  • Green building by housing type (multi-family, single-family)

  • Green building by key cities (Tier – 1, Tier – 2, Tier – 3 segmentation)

  • Green building by price level / income level (luxury, mid-range, affordable)

Canada Commercial Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:

  • Office (broken down into grade A, grade B and grade C)

  • Retail trade (broken down by category A, category B and category C)

  • Hospitality (broken down into categories A, B and C)

  • Restaurant (further broken down by Category A, Category B and Category C)

  • Entertainment

  • sports facility

  • Construction phase (new construction, redevelopment and maintenance)

Canada Green Commercial Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:

  • Construction of green office buildings

  • Construction of green buildings for retail

  • Construction of ecological buildings for the hotel industry

  • Construction of green buildings for restaurants

  • Construction of entertainment green buildings

  • Construction of green buildings for sports facilities

  • Other commercial green building construction

  • Coverage of industrial green building construction in Canada: 10-year market size and forecast by value and volume (area and units)

Canada Institutional Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:

  • Health care building

  • Pedagogical construction

  • Public sector

  • Construction phase (new construction, redevelopment and maintenance)

Canada Institutional Green Building Construction Coverage: 10-Year Market Size and Forecast Value & Volume (Area & Units) by:

  • Construction of green buildings for health care

  • Construction of educational green buildings

Canada Infrastructure Construction Sectors: 10-Year Market Size and Value Forecast by:

  • Maritime and river infrastructure

  • Construction of utility systems (oil and gas infrastructure, communication infrastructure, electrical infrastructure, water and sewer infrastructure)

  • Transport infrastructure (construction of highways, streets and bridges, construction of railways, construction of airports and construction of tunnels)

  • Construction phase (new construction, redevelopment and maintenance)

  • Construction of Canada’s green infrastructure: 10-year market size and value forecast

Reasons to buy

  • In-depth understanding of construction market dynamics: understand market opportunities, industry dynamics, key trends and drivers in over 40 market segments and sub-segments of the building construction industry and infrastructure in Canada

  • Volume and value data: Get a detailed understanding of the market from both a value and volume perspective (both by activity and by unit) for the historical and forecast period

  • Develop market-specific strategies: identify growth segments and target specific opportunities to formulate your strategy; assess key market-specific trends, drivers and risks in the construction industry

  • City-level insights: Get city-level trend analyzes by Tier 1, Tier 2, and Tier 3 cities

For more information on this report, visit https://www.researchandmarkets.com/r/9ze5u9