Dublin, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The "Hong Kong Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
Hong Kong's construction industry to grow by 3% in real terms in 2024, supported by the government's plans to invest in transportation and energy infrastructure, coupled with investments to address the country's housing deficit.
According to the Census and Statistics Department (C&SD), the construction industry's value add rose by 9.6% year-on-year (YoY) in Q1 2024, following Y-o-Y growths of 3.8% in Q4 and 13.5% in Q3 2023. Moreover, the construction industry's output over the forecast period will be supported by the development of several infrastructure projects as part of the government's target to issue bonds worth HKD135 billion ($17.3 billion) annually between 2023 and 2029.
Over the remainder of the forecast period, the construction industry's output is expected to register an annual average growth of 2.2% from 2025-28, supported by investments in the transport, electricity, housing, and industrial sectors. The industry's output will be supported by the government's commitment to develop three major road schemes and three strategic railway projects to drive and support the city's development by 2030. It involves six projects that will result in a highly interconnected and accessible road network and rail system, as per the Strategic Studies on Railways and Major Roads beyond 2030.
Furthermore, the government is working on two significant 10-year hospital building programmes totaling HKD500.6 billion ($64 billion) for the development of healthcare facilities. The first 10-year plan is expected to cost HKD200.2 billion ($25.6 billion) and will be completed in 2027, while the second 10-year plan is projected at HKD300.4 billion ($38.4 billion) scheduled to start by 2026 and be completed by 2036. These programs will add 15,000 hospital beds, over 90 operating theatres, rehabilitate and expand 11 hospitals, and build a new acute general hospital to meet predicted service demand by 2036.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Hong Kong, 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
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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/i76oyh
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