After witnessing a decline of 30.3% in 2020, the Philippine construction industry is expected to record growth of 12.7% in real terms this year, supported by improving investor confidence and investment in transport, renewable energy, residential and commercial infrastructure projects. This is a downwards revision of the previously estimated 21.9% growth in 2021, due to the impact of the wave of Coronavirus (COVID-19) infections on economic activity in late Q2, and into Q3 2021. The publisher expects the industry to record growth of 20.7% in 2022, driven by an improvement of economic conditions, consumer and business confidence and foreign direct investment. Prominent downside risks to the outlook in 2022 include the uncertainty surrounding the potential impact of the Omicron variant, and whether it may force a tightening of restrictions, inhibiting the recovery of the construction industry and potentially weighing on the tentative improvement of business and investor confidence. Between 2023 and 2025, the Philippine construction industry is forecast to record a real annual average growth of 7.6%, with real construction output expected to surpass its pre-pandemic value by 2023.
Supporting forecast-period growth will be the government’s PHP5 trillion (US$100.8 billion) 2022 proposed budget, which focuses on improving healthcare infrastructure and increasing investment in public and digital infrastructure. In addition, the government is focusing on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix to 50% by 2040, and add additional power generation capacity of 43GW by 2040. Forecast-period growth will also be supported by the government’s “Build, Build, Build” (BBB) program. Under the BBB program, the government have outlined plans to invest PHP9.0 trillion (US$170.5 billion) on developing infrastructure between 2017 and 2022, predominantly roads, railways, airports, bridges and seaports. Long-run growth will be driven by the AmBisyon Natin 2040 programme, which promotes the development of affordable housing, transport and renewable energy infrastructure.
The publisher’s Construction in the Philippines - Key Trends and Opportunities to 2025 (Q4 2021) report provides detailed market analysis, information and insights into the Philippine construction industry, including -
Supporting forecast-period growth will be the government’s PHP5 trillion (US$100.8 billion) 2022 proposed budget, which focuses on improving healthcare infrastructure and increasing investment in public and digital infrastructure. In addition, the government is focusing on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix to 50% by 2040, and add additional power generation capacity of 43GW by 2040. Forecast-period growth will also be supported by the government’s “Build, Build, Build” (BBB) program. Under the BBB program, the government have outlined plans to invest PHP9.0 trillion (US$170.5 billion) on developing infrastructure between 2017 and 2022, predominantly roads, railways, airports, bridges and seaports. Long-run growth will be driven by the AmBisyon Natin 2040 programme, which promotes the development of affordable housing, transport and renewable energy infrastructure.
The publisher’s Construction in the Philippines - Key Trends and Opportunities to 2025 (Q4 2021) report provides detailed market analysis, information and insights into the Philippine construction industry, including -
- The Philippine 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 Philippine 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 the Philippines. It provides -- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in the Philippines, 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
