The South Asia construction market size is expected to reach $997.1 billion by 2027, according to a new report by GlobalData Plc. The forecast growth is aided by the region’s growing middle-class population, which is driving consumption, and thus, creating greater investment in housing and infrastructure sectors.
South Asia Construction Market Share By Sectors, 2018 – 2027 (%)
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South Asia Construction Market FAQs
- What is the global South Asia construction market size in 2023?
The South Asia construction market size will be evaluated at $779.9 billion in 2023.
- What is the South Asia construction market growth rate?
The construction market in the South Asia region is expected to grow at a CAGR of 5.0% during 2023-2027.
- What are the key sectors in the South Asia construction market?
The key sectors in the South Asia construction market are commercial construction, energy and utilities construction, industrial construction, infrastructure construction, institutional construction, and residential construction.
- Which are the key countries in the South Asia construction market?
The key countries in the South Asia construction market are Bangladesh, India, Pakistan, and Sri Lanka.
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South Asia Construction Market Dynamics
Construction output in South Asia is expected to record a relatively robust 4.8% increase this year, almost entirely be driven by construction industry growth in India. Elsewhere in South Asia, the outlook is bleaker, with energy shortages, inflated material prices, a weakening of domestic currencies against the dollar, and the depletion of foreign exchange reserves leading to increased political instability and a marked slowing of economic and construction activity.
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South Asia Construction Report Highlights
- The South Asia Construction market is expected to grow at a compound annual growth rate of 5.0% over the forecast period. The rising focus on the development of renewable energy projects in the region is likely to drive market growth over the predicted timeline.
- The residential construction segment is estimated to account for the largest regional share in real terms in 2023, supported by new investments to fulfil housing deficits. The regional sectoral performance is expected to increase at an annual average growth of 6.1% from 2024 to 2027, aided by investments in the construction of new residential buildings.
- The energy and utilities construction category is predicted to register the fastest compound annual growth rate (CAGR) of 5.5% over the forecast period. The segmental growth is aided by an increase in investment in renewable energy projects.
- The infrastructure construction segment is expected to account for the third-largest regional share in real terms in 2023. The push towards the development of regional rail and road networks is anticipated to positively influence segmental growth over the near future.
- The industrial construction sector is predicted to register the fourth-largest regional share in real terms in 2023. The segmental growth is driven by increasing efforts by the regional governments to attract foreign direct investments and set up new manufacturing facilities.
- The construction industry of India is estimated to account for most of the regional share in real terms in 2023. The domestic growth is supported by government investment programs and projects, and the completion of ongoing infrastructure and housing projects ahead of the 2024 elections.
- Bangladesh’s construction sector is anticipated to capture the second-largest regional share in real terms in 2023. The growth in the domestic construction sector is aided by investments in rail, electricity, industrial, and telecommunication infrastructure projects.
- The construction industry in Pakistan is expected to register the slowest compound annual growth rate (CAGR) of 4.4% over the forecast period. The larger contraction in output this year will be due to the continued worsening of economic, political, and financial conditions in the country.
- The Sri Lankan construction sector amid ongoing economic and political crisis, a steep currency depreciation and rising inflation is likely to register the smallest regional share in real terms in 2023. Further weighing on the domestic construction activity is the suspension of major infrastructure projects due to financial issues, owing to an increase in foreign debt and decreasing tax revenues.
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GlobalData Plc has segmented the South Asia construction market report by sectors and countries:
South Asia Construction Sectors Outlook (Value, $ Million, 2018-2027)
- Commercial Construction
- Energy and Utilities Construction
- Industrial Construction
- Infrastructure Construction
- Institutional Construction
- Residential Construction
South Asia Construction Countries Outlook (Value, $ Million, 2018-2027)
- Bangladesh
- India
- Pakistan
- Sr Lanka
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Related Reports
- Construction Market Size, Trends and Growth Forecasts by Key Regions and Countries, 2023-2027
- Bangladesh Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
- India Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
- Pakistan Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
- Sri Lanka Construction Market Size, Trend Analysis by Sector (Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential) and Forecast, 2023-2027
- South Asia Infrastructure Construction Market Size, Trends, Analysis by Key Countries (Bangladesh, India, Pakistan, Sri Lanka), Sector (Railway, Roads, Water and Sewage, Electricity and power, Others), and Segment Forecast to 2026
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