DUBLIN–(BUSINESS WIRE)–The “Philippines Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.
Industry growth has revised down the estimated growth of the Philippine construction industry in 2022 – with the industry now expected to expand by 13.4% in real terms this year, down from the previous prior projection of a 16.5% growth.
This downward revision is primarily due to rising inflationary pressures and the tightening of monetary policy by the Bangko Sentral ng Pilipinas (BSP). Into 2023, the construction industry’s output will be supported by works on ongoing transport infrastructure and housing projects. According to the Philippine Statistics Authority (PSA), the construction industry’s value add grew by 12.2% year on year (YoY) in Q3 2022, preceded by Y-o-Y growth of 19.5% in Q2 and 14.7% in Q1 2022.
The construction industry is expected to register an annual average growth of 7.3% from 2023 to 2026, supported by government investment in the transport, energy and residential sectors. The construction of the North-South Commuter Railway (NSCR) project, with a total investment of PHP744.6 billion ($14 billion) by 2028, is expected to substantially improve railway network access across the Philippines.
Further support will be provided by the PHP4 trillion ($75.3 billion) of infrastructure projects which are expected to complete by 2028, according to the National Economic and Development Authority (NEDA). These projects include the PHP740 billion ($13.9 billion) New Manila International Airport, the PHP23.2 billion ($436.9 million) North Luzon Expressway and South Luzon Expressway connector road, the PHP8.8 billion ($165.7 million) Epifanio de Los Santos Avenue (EDSA) Greenways Project and the PHP1.9 billion ($35.8 million) Boracay Circumferential Road, among others.
Scope
Reasons to Buy
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/fuiknz
Source: GlobalData
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