The construction industry in Canada is now expected to register an annual growth of 6.5% in real terms this year - up from the publisher's previous forecast of 2.5% growth. This upward revision is attributed to stronger-than-expected growth in the first half of this year, supported by a boom in residential construction. The projection is based on the assumption that the construction industry will remain strong in the second half of this year, supported by the residential sector and progress in the country’s vaccination drive, coupled with higher public spending in infrastructure and clean energy projects. The industry’s output this year will also be supported by investments on the upgrade of healthcare buildings, to address the rising demand amid the ongoing pandemic.
The construction industry is expected to register an annual average growth of 2.5% over the remainder of the forecast period, supported by investments on transport, renewable energy, housing, water and telecommunication infrastructure projects. In October 2020, the government announced the three-year CAD10 billion (US$7.6 billion) “Growth Plan”, which focuses on five major initiatives, including funding for clean energy, irrigation and broadband projects. This investment will create 60,000 jobs and support the post-pandemic recovery of the economy.
The re-elected Liberal Party of Canada is expected to boost investments on housing and renewable energy projects, in line with its election promises. As part of the election manifesto, the party announced a plan to invest CAD2.7 billion (US$2.1 billion) to build or repair 1.4 million affordable housing units over the next four years, and reduce greenhouse gas emissions between 40-45% of the 2005 levels before the end of this decade. To support affordable housing construction across the country, the Canadian financial services provider BMO Financial Group announced a commitment of CAD12 billion (US$9.4 billion) to support affordable housing projects across Canada until 2030. Additionally, the long-term output in the Canadian construction industry will also be supported by the government’s plan (announced in February 2021) to invest CAD14.9 billion (US$12 billion) on public transport projects over the next eight years.
This report provides a comprehensive analysis of the construction industry in Canada. It provides:
The construction industry is expected to register an annual average growth of 2.5% over the remainder of the forecast period, supported by investments on transport, renewable energy, housing, water and telecommunication infrastructure projects. In October 2020, the government announced the three-year CAD10 billion (US$7.6 billion) “Growth Plan”, which focuses on five major initiatives, including funding for clean energy, irrigation and broadband projects. This investment will create 60,000 jobs and support the post-pandemic recovery of the economy.
The re-elected Liberal Party of Canada is expected to boost investments on housing and renewable energy projects, in line with its election promises. As part of the election manifesto, the party announced a plan to invest CAD2.7 billion (US$2.1 billion) to build or repair 1.4 million affordable housing units over the next four years, and reduce greenhouse gas emissions between 40-45% of the 2005 levels before the end of this decade. To support affordable housing construction across the country, the Canadian financial services provider BMO Financial Group announced a commitment of CAD12 billion (US$9.4 billion) to support affordable housing projects across Canada until 2030. Additionally, the long-term output in the Canadian construction industry will also be supported by the government’s plan (announced in February 2021) to invest CAD14.9 billion (US$12 billion) on public transport projects over the next eight years.
The report provides detailed market analysis, information and insights into Canada’s construction industry, including:
- Canada’s 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 Canada’s 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
This report provides a comprehensive analysis of the construction industry in Canada. It provides:
- Historical (2016-2020) and forecast (2021-2025) 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
Reasons to Buy
- Identify and evaluate market opportunities using the publisher'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 publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
