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Construction in Canada - Key Trends and Opportunities to 2025 (Q3 2021)

Construction in Canada - Key Trends and Opportunities to 2025 (Q3 2021)

Summary

The construction industry in Canada is now expected to register an annual growth of 6.5% in real terms this year - up from GlobalData’s previous forecast of 2.5% growth. This upward revision is attributed to stronger-than-expected growth in the first half of this year, supported by a boom in residential construction. The projection is based on the assumption that the construction industry will remain strong in the second half of this year, supported by the residential sector and progress in the country’s vaccination drive, coupled with higher public spending in infrastructure and clean energy projects. The industry’s output this year will also be supported by investments on the upgrade of healthcare buildings, to address the rising demand amid the ongoing pandemic.

The construction industry is expected to register an annual average growth of 2.5% over the remainder of the forecast period, supported by investments on transport, renewable energy, housing, water and telecommunication infrastructure projects. In October 2020, the government announced the three-year CAD10 billion (US$7.6 billion) “Growth Plan”, which focuses on five major initiatives, including funding for clean energy, irrigation and broadband projects. This investment will create 60,000 jobs and support the post-pandemic recovery of the economy.

The re-elected Liberal Party of Canada is expected to boost investments on housing and renewable energy projects, in line with its election promises. As part of the election manifesto, the party announced a plan to invest CAD2.7 billion (US$2.1 billion) to build or repair 1.4 million affordable housing units over the next four years, and reduce greenhouse gas emissions between 40-45% of the 2005 levels before the end of this decade. To support affordable housing construction across the country, the Canadian financial services provider BMO Financial Group announced a commitment of CAD12 billion (US$9.4 billion) to support affordable housing projects across Canada until 2030. Additionally, the long-term output in the Canadian construction industry will also be supported by the government’s plan (announced in February 2021) to invest CAD14.9 billion (US$12 billion) on public transport projects over the next eight years.

GlobalData’s Construction in Canada - Key Trends and Opportunities to 2025 (Q3 2021) report provides detailed market analysis, information and insights into Canada’s construction industry, including -
- Canada’s 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 Canada’s 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 Canada. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Canada, 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 GlobalData's 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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

Table of Contents
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
- 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
7.4 GlobalData Construction
Contact Us

List of Tables
Table 1: Construction Industry Key Data
Table 2: Canada, Key Economic Indicators
Table 3: Canada, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: Canada, Top Commercial Construction Projects by Value
Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: Canada, Top Industrial Construction Projects by Value
Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: Canada, Top Infrastructure Construction Projects by Value
Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: Canada, Top Energy and Utilities Construction Projects by Value
Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: Canada, Top Institutional Construction Projects by Value
Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: Canada, Top Residential Construction Projects by Value
Table 15: Canada, Key Contractors
Table 16: Canada, Key Consultants
Table 17: Canada, Construction Output Value (Real, US$ Million)
Table 18: Canada, Construction Output Value (Nominal, CAD Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions

List of Figures
Figure 1: G-10, Construction Output (Real % Change), 2020 and 2021
Figure 2: Canada, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Canada, COVID-19 Confirmed Cases
Figure 4: Canada, Risk Summary
Figure 5: Canada, Risk Regional Comparison
Figure 6: Canada, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: Canada, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: Canada, Construction Value Add (CAD Million, 2012 Constant Prices), Seasonally Adjusted, YoY % Change
Figure 9: Canada, Investments on Building Construction, in CAD Million, in Seasonally-Adjusted Constant Prices
Figure 10: Canada, Value of Building Permits Issued, in Seasonally-Adjusted Constant Prices, % Change YoY
Figure 11: Canada, Construction Projects Momentum Index
Figure 12: North America, Construction Projects Momentum Index
Figure 13: Canada, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 14: Canada, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 15: Canada, Investment on Commercial Building Construction, in CAD Million, in Seasonally-Adjusted Constant Prices, YoY % Change
Figure 16: Canada, Value of Building Permits Issued for Commercial Buildings, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
Figure 17: Canada, Non-Resident Tourist Arrivals, In Thousands
Figure 18: Canada, Tourism Expenditure, in CAD Million, % Change YoY
Figure 19: Canada, Retail Trade Sales, in CAD Million, % Change YoY
Figure 20: Canada, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 21: Canada, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 22: Canada, Investment in Industrial Buildings, in CAD Million, in Seasonally-Adjusted Constant Prices, YoY % Change
Figure 23: Canada, Value of Industrial Building Permits Issued, in CAD Million, in Seasonally-Adjusted Terms, YoY % Change
Figure 24: Canada, Manufacturing Value Add (CAD Million, 2012 Constant Prices), % Change YoY
Figure 25: Canada, Sales Value of Goods Manufactured and New Orders of Manufacturing, in CAD Million
Figure 26: Canada, Merchandise Exports, in CAD Million, % Change YoY
Figure 27: Canada, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 28: Canada, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: Canada, Value Add of Civil Engineering and Other Construction Activities, (CAD Million, 2012 Constant Prices), Seasonally Adjusted, YoY % Change
Figure 30: Canada, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: Canada, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: Canada, Capital Expenditure in the Oil and Gas Extraction Industries, in CAD Million, In Seasonally Adjusted Terms, YoY % Change
Figure 33: Canada, Electric Power Generation, YoY % Change
Figure 34: Canada, Production of Crude Oil and Other Equivalent Products, YoY % Change
Figure 35: Canada, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 36: Canada, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 37: Canada, Investment on Institutional Building Construction, in CAD Million, In Seasonally-Adjusted Terms, YoY % Change
Figure 38: Canada, Institutional Building Permits Issued, In CAD Million, In Seasonally-Adjusted Terms, YoY % Change
Figure 39: Canada, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 40: Canada, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 41: Canada, Investment on Residential Building Construction, in CAD Million, in Seasonally-Adjusted Terms
Figure 42: Canada, Residential Building Permits Issued, in CAD Million, in Seasonally-Adjusted Terms, YoY % Change
Figure 43: Canada, New Housing Price Index, 2016=100, % Change YoY
Figure 44: Canada, Housing Construction Started in Central Metropolitan Areas, % Change YoY
Figure 45: Canada, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 46: Canada, Headquarters of Key Consultants (% of Total Project Pipeline)

Report Title: Construction in Canada - Key Trends and Opportunities to 2025 (Q3 2021)


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