According to the analysis, with the development of Vietnam's economy, the infrastructure construction and real estate sectors continue to grow, contributing to the growth of the construction industry.
Vietnam's construction industry output will grow by an average of 8.3% during 2018-2022 (with the largest increase of 12.9% in 2019). Vietnam's construction sector is the best performing sector in Asia Pacific. Despite losing momentum due to COVID-19, it continues to grow strongly in 2020, with construction output increasing by 6.8% year-on-year amid a 6.4% year-on-year increase in construction raw material prices. According to the analysis, in 2022, Vietnam's construction output will be VND549 trillion (about $234.15 billion at current exchange rates), up 8.5% year-on-year.
According to the analyst, the production value of construction industry will reach US$ 460.61 billion in 2032 and the CAGR in 2023 to 2032 is 7.0%.
According to the analyst, the construction industry in Vietnam is forecast to continue to grow from 2023-2032. Relatively cheap labor and land costs have attracted a large number of foreign investors to shift their production capacity to Vietnam, foreign trade has expanded, and the development of industrial real estate, commercial real estate and infrastructure sectors has boosted the construction industry. On the other hand, as Vietnam's economy grows, the real estate sector is also growing rapidly, contributing to the development of the construction industry.
Topics Covered
- Vietnam Construction Industry Overview
- The economic and policy environment of the construction industry in Vietnam
- What is the impact of COVID-19 on the Vietnamese construction industry?
- Vietnam construction industry market size, 2023-2032
- Analysis of major Vietnamese construction industry manufacturers
- Key Drivers and Market Opportunities in Vietnam's Construction Industry
- What are the key drivers, challenges and opportunities for the construction industry in Vietnam during the forecast period 2023-2032?
- Which companies are the key players in the Vietnamese construction industry market and what are their competitive advantages?
- What is the expected revenue of Vietnam construction industry market during the forecast period of 2023-2032?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Vietnam construction industry market is expected to dominate the market in 2032?
- What are the main negative factors facing the construction industry in Vietnam?
Companies Mentioned
- Song Da Corp
- Truong Xuan Investment And Construction
- COFICO
- Hoa Binh Construction Group
- Coteccons Construction
- Coteccons
- Vinaconex
- Hyundai Engineering & Construction
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 60 |
| Published | May 2023 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 250.54 Billion |
| Forecasted Market Value ( USD | $ 460.6 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 8 |
