| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 4.82 Trillion |
| Market Size (2030) | USD 6.18 Trillion |
| CAGR (2025 - 2030) | 5.07 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Construction Market Analysis
The China Construction Market size is estimated at USD 4.82 trillion in 2025, and is expected to reach USD 6.18 trillion by 2030, at a CAGR of 5.07% during the forecast period (2025-2030).
- China's economic growth has remained generally stable, the development trend of stability and progress, the main macroeconomic indicators are operating in a reasonable range, and the economic structure is being optimized and adjusted.
- China is in the middle of a massive boom in manufacturing. The nation has the largest building market in the world, accounting for 20% of all construction investments worldwide. And it is set to grow: China is expected to spend nearly USD 13 trillion on buildings by 2030. Due to the impact of COVID-19, -19 investments were cut as cash flow across the developer market. Developed projects and commercial businesses were subjected to large fluctuations in retail activity, rental income declined, and businesses decided to shrink office space to lower rental costs.
- In January 2022, China unveiled plans to develop its construction industry during the 14th Five-Year Plan (2021-2025), paving a pillar of the country's economy on a greener, smarter and safer path.
- The Government specifically aims for the development of prefabricated buildings that are partially or fully assembled in factories and shipped to construction sites for assembly will account for more than 30% of new construction in the country. New construction sites will generate less than 300 tons of construction waste per 10,000 square meters. In addition, China's state-owned railway company plans to double the size of its high-speed rail network over the next 15 years. This will drive the growth of the infrastructure construction sector.
China Construction Market Trends
Increase in Output value of China Construction Industry
- The output value of construction in China from 2011 to 2021 indicates progressive growth in the industry. In 2022, the construction industry in China generated an output of over 31 trillion yuan (4.37 trillion), representing an increase of almost 100 percent from a decade ago.
- Demographics are expected to continue spurring growth in residential construction in China. Rising household income rates, along with population migration from rural to urban areas, are expected to continue to drive demand for residential construction in the country. Increased emphasis on both public and private sector affordable housing would fuel development in the residential construction sector.
- Non-residential infrastructure is also projected to expand dramatically in the coming years. The aging population in China is increasing the demand for the construction of healthcare facilities and new hospitals. Rising wages are also expected to boost consumer spending in China. This will create demand for various services, including education and entertainment, and later for plant construction in the country.
- In contrast, infrastructure projects have maintained double-digit growth since June 2022, offsetting a decline in demand for construction work from developers. Investment in Power & Utilities and Hydraulics & Environment projects increased by 17.8% and 12.8% year-on-year in September 2022, respectively. As a result, overall construction activity expanded in 2022, reflected in the strength of the construction PMI.
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Increase in Value of Contracts
- From January to February 2023, the value of performed overseas contracts was RMB 126.69 billion, up 11% (USD18.23 billion, up 1.5%) year-on-year; the value of new contracts was RMB174.09 billion, down 9.9% (USD 250.5 billion, down 17.6%) year-on-year.
- In 2022, approximately 36.65 trillion yuan (USD 5.17 trillion) worth of new contracts were signed by the construction enterprises in China, accounting for more than half of the total value. Driven by rapid urbanization, the construction industry in China exceeded the output of 31 trillion yuan (USD 4.37 trillion) in that year. In 2022, the share of the urban population in China increased by 1.1 percentage points (+1.76 percent) since 2021. While the growth is slowing down, with 63.56 percent, the share is at its peak in the observed period. Notably, the share continuously increased over the last years.
- Furthermore, Infrastructure investment is likely to continue to grow in 2023 on robust local-government bond issuance, accelerated project launches, and supportive policy at both the central and local government levels. In 2022, the value added of the Chinese construction industry increased by about 5.5 percent compared to the previous year, 2021.
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China Construction Industry Overview
The Chinese construction market is fragmented. However, the market holds opportunities for small and medium players due to increasing government investments in the sector. Some of the major players are China State Construction Engineering, China Railway Group, China Railway Construction, China Communications Construction Company, Power Construction Corporation of China, and many more. The Chinese construction market presents opportunities for growth during the forecast period, which is expected to further drive market competition. Large players competing with others for a significant share leave the Chinese construction market with no observable levels of consolidation.
China Construction Market Leaders
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China State Construction Engineering
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China Railway Group
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China Railway Construction
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China Communications Construction Company
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Power Construction Corporation of China
- *Disclaimer: Major Players sorted in no particular order
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China Construction Market News
- December 2023: Recently, "Engineering News-Record" (ENR), one of the world's most authoritative academic journals in engineering and construction, announced the winners of the 2023 Global Best Projects Awards. I received awards for two projects. The Lamu Port Berth 1-3 Project was honored with the Award of Merit in the Airport and Port category, while the Peljesac Bridge and its access roads in Croatia received the Award of Merit in the Bridge and Tunnel category.
- July 2023: The Shaoxing Metro Line 2, constructed by CRCC, officially opened, marking the commencement of a new era of automated and driverless subway systems in Shaoxing. This 10.8-kilometer line, featuring nine stations, represents Shaoxing's inaugural automated and driverless subway and the second in Zhejiang Province. As a co-host city with the most events for the Asian Games, the inauguration of Line 2 will further boost the development of the "Commuting Circle" for the Hangzhou Asian Games, providing robust support for the successful hosting of the event.
China Construction Industry Segmentation
Construction is the installation, maintenance, and repair of buildings and other stationary structures, as well as the construction of roadways and service facilities that form fundamental components of structures and are required for their operation.
The China construction market is segmented by sector (residential, commercial, industrial, infrastructure - transportation, energy, and utilities).
The report provides market size and forecasts in value (USD) for all the above segments.
| By Sector | Residential |
| Commercial | |
| Industrial | |
| Infrastruture (Transportation) | |
| Energy and Utilities |
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China Construction Market Research FAQs
How big is the China Construction Market?
The China Construction Market size is expected to reach USD 4.82 trillion in 2025 and grow at a CAGR of 5.07% to reach USD 6.18 trillion by 2030.
What is the current China Construction Market size?
In 2025, the China Construction Market size is expected to reach USD 4.82 trillion.
Who are the key players in China Construction Market?
China State Construction Engineering, China Railway Group, China Railway Construction, China Communications Construction Company and Power Construction Corporation of China are the major companies operating in the China Construction Market.
What years does this China Construction Market cover, and what was the market size in 2024?
In 2024, the China Construction Market size was estimated at USD 4.58 trillion. The report covers the China Construction Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the China Construction Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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China Construction Industry Report
The Chinese Construction Industry Report is segmented by various sectors including residential, commercial, industrial, infrastructure, energy, and utilities. The market data indicates significant growth driven by investments in development programs and infrastructure projects. The industry outlook is positive with the residential construction sector leading the market due to government measures to revive the real estate sector. Market growth in the infrastructure sector is projected due to plans to expand the railway network, while the energy and utilities sector will benefit from investments in power generation and transmission projects.
Commercial construction is expected to flourish with investments in retail, data centers, and logistics projects, alongside developments in the tourism sector. The industrial construction sector's growth is attributed to government investment in the semiconductor manufacturing industry. Institutional construction will see support from investment in laboratory and hospital facilities. The industry forecast suggests a robust market outlook with a positive market review.
Industry analysis reveals that market leaders are driving growth through strategic investments. The market segmentation highlights diverse opportunities across different construction sectors. The market value is expected to rise, supported by detailed industry statistics and growth rate projections. Industry research and industry reports provide comprehensive insights into market trends and market predictions, ensuring stakeholders are well-informed.
The industry size and industry sales are set to increase, with market data indicating a strong upward trajectory. The market forecast and market overview provide a clear picture of future developments. Research companies play a crucial role in providing accurate market information and analysis. The report pdf offers an in-depth analysis, while the report example serves as a valuable resource for understanding market dynamics.
Overall, the Chinese construction market is poised for significant growth, supported by detailed industry information and insights from industry reports. The market outlook remains positive, with substantial potential for future expansion and development.
