Dublin, May 03, 2023 (GLOBE NEWSWIRE) -- The "Canada Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The Canadian construction industry is expected to contract by 0.9% in 2023, due to inflationary pressure, higher energy prices, supply chain disruptions, a skilled labor shortage, increasing construction costs and a decline in investor confidence.
According to Statistics Canada, the total value of investment in residential buildings fell by 5.1% year on year (YoY) in 2022, with single dwelling construction falling by 6.4% and multiple dwelling construction falling by 3.5%.
With these constraints and challenges continuing, the industry is expected to recover marginally in 2023, growing by 0.9%, aided by transportation and energy infrastructure projects, in addition to investment allocated by Federal and Regional governments in the 2023 Budget. Earlier in 2022, the province of Ontario unveiled its 30-year transit plan to develop a transportation network with an initial budget of CAD84.7 billion ($65.7 billion) by 2030.
Over the forecast period, the industry's output will also be supported by the development of infrastructure projects in the industrial, residential, and commercial sectors. Imperial, a Canadian manufacturing company, announced in January 2023 that it approved an investment of CAD720 million ($558.6 million) for the construction of Canada's largest renewable diesel facility, which is expected to be completed by the end of 2025.
Furthermore, the Federal Government is on track to deliver more than CAD72 billion ($55.9 billion) in financial support through the National Housing Strategy by 2027-28, and CAD13.2 billion ($10.2 billion) allocated to the construction of housing projects for women and children fleeing family violence, seniors, and Indigenous peoples in 2022.
This report provides detailed market analysis, information and insights into the Canadian construction industry, including:
- The Canadian construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Canadian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline
Scope
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Canada, 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
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/asumjk
Source: GlobalData
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