Malaysia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

The Construction in Malaysia - Key Trends and Opportunities to 2028 (Q4 2024) report provides detailed market analysis, information and insights into the Malaysian construction industry, including:

The Malaysian 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 Malaysian construction industry
Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

The analyst estimates the Malaysian construction industry to grow by 15% in real terms in 2024, supported by an increase in public and private investment in the energy and infrastructure sectors, coupled with an improvement in external demand. Moreover, the total Gross Fixed Capital formation (GFCF) in the country grew by 15.3% YoY in Q3 2024, preceded by YoY growths of 11.5% in Q2 and 9.6% in Q1 2024. According to the Construction Industry Development Board Malaysia, 11,980 construction projects were approved from January to September 2024, totaling MYR150.2 billion ($33 billion), an increase of 9% compared to 10,990 projects worth MYR115.3 billion ($25.3 billion) were awarded during the same time in 2023.

Malaysia’s construction industry is expected to register an annual average growth rate of 4.4% during 2025-28, supported by investments in infrastructure and renewable energy projects. The Ministry of Energy and Natural Resources of Malaysia (KeTSA) aims to achieve 31% renewable capacity by 2025, 40% by 2035, and 75% by 2050, from 13.3% in July 2024. In line with this, in November 2024, domestic property developer, LBS Bina Group Berhad signed a Memorandum of Understanding (MOU) with a consortium of Invest Sabah Berhad, Sabah Forestry Development Authority (SAFODA), and Midwest Green Sdn Bhd for the construction of 10GW Green Hydrogen production Facility in Sabah. The facility will be constructed on an area of 6,070.3ha to 12,140.6ha to produce 10GW and generate 250,000 tonnes of green hydrogen annually. Furthermore, in the 2025 Budget, the government allocated MYR305.9 million ($67.1 million) to support the National Energy Transition Roadmap (NETR), which aims to achieve net zero carbon emissions by 2050. This initiative includes the construction of the Kenyir Hybrid Hydro-Floating Solar Farm in Tasik

Scope

This report provides a comprehensive analysis of the construction industry in Malaysia. It provides:

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 our 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 business strategies using the analyst's critical and actionable insight
Assess business risks, including cost, regulatory and competitive pressures
Evaluate competitive risk and success factors

1 Executive Summary2 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

7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
About the Analyst

Contact the Publisher

List of Tables

Table 1: Construction Industry Key Data
Table 2: Malaysia, Key Economic Indicators
Table 3: Malaysia, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Malaysia, Top Commercial Construction Projects by Value
Table 5: Malaysia, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Malaysia, Top Industrial Construction Projects by Value
Table 7: Malaysia, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Malaysia, Top Infrastructure Construction Projects by Value
Table 9: Malaysia, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Malaysia, Top Energy and Utilities Construction Projects by Value
Table 11: Malaysia, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Malaysia, Top Institutional Construction Projects by Value
Table 13: Malaysia, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Malaysia, Top Residential Construction Projects by Value
Table 15: Malaysia, Key Contractors
Table 16: Malaysia, Key Consultants
Table 17: Malaysia, Construction Output Value (Real, $ Million)
Table 18: Malaysia, Construction Output Value (Nominal, MYR Billion)
Table 19: the analyst Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions

List of Figures

Figure 1: South-East Asia, Construction Output (Real % Change), 2022-28
Figure 2: Malaysia, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: Malaysia, Risk Summary
Figure 4: Malaysia, Risk Regional Comparison
Figure 5: Malaysia, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: Malaysia, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: Malaysia, Construction Value-Add (2015 Constant Prices, MYR Million)
Figure 8: Malaysia, Loans Disbursed for the Construction Industry (MYR Million)
Figure 9: Malaysia, Value of Construction Work Done, % Change YoY
Figure 10: Malaysia, Construction Projects Momentum Index
Figure 11: South-East Asia, Construction Projects Momentum Index
Figure 12: Malaysia, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 13: Malaysia, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 14: Malaysia, Wholesale and Retail Sales, % Change YoY
Figure 15: Malaysia, Construction Loans Disbursed for Wholesale and Retail Trade and Restaurants and Hotels (MYR Billion)
Figure 16: Malaysia, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 17: Malaysia, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 18: Malaysia, Manufacturing Value-Add (2015 Constant Prices, MYR Billion)
Figure 19: Malaysia, Industrial and Manufacturing Production Indices (2015=100)
Figure 20: Malaysia, Total exports (MYR Million)
Figure 21: Malaysia, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 22: Malaysia, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 23: Malaysia, Value of Construction Work Done of Civil Engineering (MYR Million)
Figure 24: Malaysia, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 25: Malaysia, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 26: Malaysia, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 27: Malaysia, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 28: Malaysia, Private Health Services Value-Add (2015 Constant Prices, MYR Million)
Figure 29: Malaysia, Private Education Services Value-Add (2015 Constant Prices, MYR Million)
Figure 30: Malaysia, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 31: Malaysia, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 32: Malaysia, Real Estate Value-Add (2015 Constant Prices, MYR Million)
Figure 33: Malaysia, Value of Residential Construction Work Done (MYR Billion)
Figure 34: Malaysia, Loans disbursed for the purchase of residential property (MYR Million)
Figure 35: Malaysia, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 36: Malaysia, Headquarters of Key Consultants (% of Total Project Pipeline)

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The Construction in Malaysia - Key Trends and Opportunities to 2028 (Q4 2024) report provides detailed market analysis, information and insights into the Malaysian construction industry, including:

Scope

This report provides a comprehensive analysis of the construction industry in Malaysia. It provides:

Reasons to Buy

Table of Contents

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