香港の建設市場 - 主要動向と市場機会
Construction in Hong Kong - Key Trends and Opportunities to 2023
|出版日||ページ情報||英文 51 Pages
|香港の建設市場 - 主要動向と市場機会 Construction in Hong Kong - Key Trends and Opportunities to 2023|
|出版日: 2019年02月05日||ページ情報: 英文 51 Pages||
Hong Kong's construction industry suffered a downturn in 2017 and 2018 in real terms, in part due to reduced investments in transport infrastructure projects and the completion of major railway projects. The gross value of construction works performed by main contractors in real terms declined by 0.7%, going from HKD150.0 billion (US$19.3 billion) in 2016 to HKD148.9 billion (US$19.1 billion) in 2017. Moreover, the gross value of construction works performed by main contractors in real terms declined by 1.7% in the first three quarters of 2018. However, the industry's overall performance during the review period (2014-2018) remained positive, supported by government and private sector investment across residential, energy and utilities, commercial and institutional construction projects.
The industry's output value is expected to pick up pace over the forecast period (2019-2023), with investments in public infrastructure, energy, commercial and industrial projects, and improvements in consumer and investor confidence. Programs such as the 10-year housing program, 10-year hospital development plan and new power development plan 2019-2023 - through which the government aims to develop the country's residential, institutional and energy infrastructure - will support the industry's growth over the forecast period.
There are, however, risks associated with Hong Kong's construction industry outlook. The ongoing trade war between China and the US is expected to impact Hong Kong's economy, which could have an adverse impact on construction spending. The US government's imposition of a tax on Chinese goods is expected to impact Hong Kong's small and medium-sized enterprises, which in turn is expected to decrease investment in industrial construction.
The industry's output value in real terms recorded a review-period compound annual growth rate (CAGR) of 1.51%, and is expected to post a forecast-period CAGR of 2.49%, rising from US$31.6 billion in 2018 to US$35.8 billion in 2023. Residential construction was the largest market in the industry, accounting for 39.6% of its total value in 2018. Residential construction is expected to remain the largest category over the forecast period, supported by the government's plan to develop new affordable housing units in line with the country's expanding population. Infrastructure construction was the second-largest market in the industry, accounting for 27.7% of its total value in 2018, followed by commercial construction, which accounted for 21.8% of the industry's total output.
The report "Construction in Hong Kong - Key Trends and Opportunities to 2023", provides detailed market analysis, information and insights into Hong Kong's construction industry, including -