Construction in India – Key Trends, Insights & Opportunities to 2022

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In real terms, the Indian construction industry’s output grew by an average annual growth of 3.3% during the review period (2013- 2017). Industry growth over the forecast period (2018- 2022), which is expected to average 4.74% a year, will be supported by public and private sector investment to improve the country’s transport, energy and education infrastructure, as well as spending on affordable homes to meet the rising demand for housing. Urbanization will continue to generate demand for residential and infrastructure development.

Government investment in transport infrastructure, energy and residential projects under flagship programs such as the 100 Smart Cities Mission, Bharatmala scheme, Housing for All 2022, UDAN (Ude Desh ka Aam Nagrik) scheme and the Aayushman Bharat program is expected to drive the growth of the industry over the forecast period.

There are, however, risks associated with this positive outlook. The countrys cumbersome bureaucracy and poor regulatory and legal framework continues to hold back investment growth and create a challenging business environment for investors.

Summary
Construction in India Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into the Indian construction industry, including:

– The Indian 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 Indian 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 India. It provides:

– Historical (2013-2017) and forecast (2018-2022) valuations of the construction industry in India, 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

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Reasons To Buy
– Identify and evaluate market opportunities using 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 critical and actionable insight.

– Assess business risks, including cost, regulatory and competitive pressures.

– Evaluate competitive risk and success factors.

Key Highlights
According to report the residential construction market to retain its leading position over the forecast period, with a share of 28.7% of the industry’s total value in 2022. In a bid to provide affordable housing to meet demand from lower- and middle-income groups, the government sets a target of constructing 20 million social housing units in urban areas and 30 million housing units in rural areas by 2020 under the Pradhan Mantri Awas Yojana.
Owing to industrialization, urbanization and population growth, electricity demand is escalating. According to the Central Electricity Authority (CEA), the countrys electricity demand is expected to grow at a CAGR of 7.1% between FY2017 and FY2022. Accordingly, the government is investing to increase the electricity generation capacity in order to meet rising demand.

Study expects the infrastructure construction market output to record a forecast-period CAGR of 9.19% in nominal terms, driven by the governments efforts to develop the country’s transport infrastructure. In October 2017, the government approved the country’s biggest highway construction plan, in order to support economic activity and create employment opportunities. With a total investment of INR6.9 trillion (US$106.3 billion), the government plans to develop total 83,677km of roads by 2022.

The government is focusing on the country’s education and healthcare system, which in turn will support the growth of the institutional construction market over the forecast period. In the Union Budget for 20182019, the government increased its expenditure on the education, healthcare and social protection sector by 13.1%, going from INR1.2 trillion (US$18.7 billion) in FY20172018 to INR1.4 trillion (US$20.6 billion) in FY20182019.

The total construction project pipeline in India, as tracked by the Construction Intelligence Center (CIC), including all mega projects with a value above US$25 million, stands at INR74.0 trillion (US$1.1 trillion). The pipeline, which includes all projects from pre-planning to execution, is skewed to early stage projects, with 55.5% of the pipeline value being in projects in the pre-planning and planning stages as of March 2018.