Construction in the Philippines - Key Trends and Opportunities to 2023
|出版日||ページ情報||英文 54 Pages
|フィリピンの建設産業における主要動向・機会 Construction in the Philippines - Key Trends and Opportunities to 2023|
|出版日: 2019年04月05日||ページ情報: 英文 54 Pages||
The Philippine construction industry registered a growth of 15.1% in real terms in 2018, with the industry's output value - measured at constant 2017 US dollar exchange rates - increasing from US$38.5 billion in 2017 to US$44.3 billion in 2018; this was preceded by an average annual growth of 9.6% during the preceding four years. Growth during the review period (2014-2018) was driven by positive developments in regional economic conditions and government investment in residential, transport and energy infrastructure.
The government total spending on infrastructure grew by 49.7% in the first eleven months of 2018, compared to the same period in 2017. It increased from PHP486.5 billion (US$9.7 billion) in January-November 2017 to PHP728.1 billion (US$13.8 billion) in January-November 2018. The industry's output value is expected to continue to expand in real terms over the forecast period (2019-2023), driven by the government's plans to upgrade the country's transport infrastructure. In addition, public and private sector investments in residential, commercial and educational infrastructure construction projects are expected to support growth in the industry over the forecast period.
The industry's output value is expected to continue to expand in real terms over the forecast period (2019-2023), driven by the government's plans to upgrade the country's transport infrastructure. The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 8.60% over the forecast period. The industry is consequently expected to rise from a value of US$44.3 billion in 2018 to US$66.9 billion in 2023, measured at constant 2017 US dollar exchange rates.
The total construction project pipeline in the Philippines including all mega projects with a value above US$25 million - stands at PHP19.1 trillion (US$361.6 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed towards early-stage projects, with 55.0% of the pipeline value being in projects in the pre-planning and planning stages as of April 2019.
Accounting for 33.3% of the industry's total value in 2018, residential construction was the largest market in the Philippine construction industry during the review period. The market is expected to retain its position over the forecast period, and account for 34.7% of the industry's total value in 2023. Infrastructure construction accounted for 21.5% of the industry's total output in 2018, followed by commercial construction with 17.5%, energy and utilities construction with 15.6%, institutional construction with 7.0% and industrial construction with 5.2%.