Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Malaysia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q3 2024)" report has been added to ResearchAndMarkets.com's offering.
Malaysian construction industry to expand by 7.4% in real terms in 2024, supported by investments in transport infrastructure and renewable energy projects.
According to the Department of Statistics Malaysia (DOSM), construction industry's value add grew by 14.6% year-on-year (YoY) in the first half of 2024, following an annual growth of 6.1% in 2023. In the first quarter of 2024, 1,257 investment projects totalling MYR83.7 billion ($18.4 billion) were approved by the government, according to the Malaysian Investment Development Authority (MIDA); this represents a Y-o-Y increase of 13% over the same period in 2023.
During the same period, MYR36.7 billion ($8.1 billion) in domestic investments and MYR47 billion ($10.3 billion) in foreign investments (FI) accounted to the total investment. The Malaysian Ministry of Energy and Natural Resources' (KeTSA) goal of increasing the renewable capacity from 13.3% in July 2024 to 31% by 2025, 40% by 2035, and 75% by 2050 will also help in boosting growth in the industry.
As of August 2024, construction on the Nenggiri hydroelectric dam project, which is being developed by the Malaysian electric utility company Tenaga Nasional (TNB), was 40.5% complete, with total completion scheduled for November 2027. The project is expected to cost approximately MYR5 billion ($1.1 billion) and is outlined in the government's National Energy Transition Roadmap (NETR).
The industry is expected to register an annual average growth rate of 5.6% between 2025 and 2028, supported by an improvement in export activities, coupled with investments in manufacturing and housing infrastructure projects. The New Industrial Master Plan 2030 (NIMP 2030) announced in 2023, which intends to establish 3,000 smart factories in the country by 2030 via Industry 4.0 and digital technology adoption with an expected investment of MYR5 billion ($1.1 billion), will also contribute to the growth over the predicted period.
In May 2024, Siliconware Precision Industries (SPIL), a Taiwanese semiconductor packaging and testing manufacturer, has started the construction of its MYR6 billion ($1.3 billion) P1 manufacturing facility at Bandar Cassia Technology Park in Penang.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Malaysia, 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/ljtrl0
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