DUBLIN–(BUSINESS WIRE)–The “Construction in India – Key Trends and Opportunities to 2024” report has been added to ResearchAndMarkets.com’s offering.
Prior to the Coronavirus (COVID-19) crisis, the pace of expansion in India’s construction industry was already slowing, as a result of weak economic conditions, coupled with weakness in the residential construction sector amid rising unemployment, a liquidity crunch and a decline in new residential projects launched across major cities. To provide support, in November 2019, the government announced an INR250 billion (US$3.6 billion) bailout fund to restart construction works on 1,600 stalled real estate projects. However, the COVID-19 outbreak and the resultant disruption in the economy has further exacerbated the challenges faced by the construction industry.
The nationwide lockdown restrictions imposed in late March have heavily weighed on the construction industry, as activities came to a standstill during most of April and May 2020. Consequently, the industry’s value-add fell by 50.3% year-on-year in real terms in the second quarter of 2020 (the latest data available at the time of writing), falling from a contraction of 2.2% year-on-year in Q1 2020, according to the Ministry of Statistics and Program Implementation (MOSPI). Although the situation will improve in the second half of the year, the publisher expects the industry to contract by 14.9% in real terms this year. This reflects the slowdown in construction of various projects in the infrastructure, energy and utilities and residential construction sectors, coupled with the unavailability of the construction workforce amid rising COVID-19 cases in the country, and a cut in capital expenditure by the public and private sectors.
Assuming the COVID-19 disruption dissipates in 2021, the Indian construction industry is forecasted to recover to an annual average growth of 7.4% between 2021-2024, supported by the government’s focus on boosting infrastructure investments to revive the economy. In August 2020, the Prime Minister announced that INR111 trillion (US$1.5 trillion) will be invested on 7,000 projects across various sectors during FY2020-2025, which will enable the faster revival of the economy and aid in boosting employment. The industry’s growth will also be supported by the government’s focus on boosting local manufacturing sector to become self-reliant and reduce dependency on imports. In addition, the government’s targets to construct 10 million affordable houses by 2022 and increase the share of renewable energy in total installed power capacity to 60% by 2030 will support the industry’s growth over the medium and long term
This 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
Reasons to Buy
- Identify and evaluate market opportunities using the publisher’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 the publisher’s critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1. Executive Summary
2. Construction Industry: At-a-Glance
3.1 Economic Performance
3.2 Political Environment and Policy
3.4 COVID-19 Status
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
6. Construction Market Data
7.1 What is this Report About?
For more information about this report visit https://www.researchandmarkets.com/r/8zlee5