|
|
|
Construction Industry News Releases
|
Home | Submit Press Release | Advertise | Submit Website
(Construction.IndustryNews247.Com, February 15, 2019 ) 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. 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. Furthermore, volatility in Hong Kong’s stock market, a decline in wage growth and weakness in asset prices are expected to hamper the growth of the residential construction market over the forecast period.
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%.
Get Sample Copy of this Report@ https://www.orbisresearch.com/contacts/request-sample/2701969
GlobalData’s "Construction in Hong Kong - Key Trends and Opportunities to 2023", report provides detailed market analysis, information and insights into Hong Kong’s construction industry, including -
- Hong Kong’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 Hong Kong’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.
Key Highlights:
- GlobalData expects the infrastructure construction market to post a forecast-period CAGR of 1.84% in nominal terms, driven by the government’s plan to develop the country’s railway infrastructure. Under the Railway Development Strategy (RDS), the government plans to provide easy access to the railway station to 70.0% of the population by 2021. Moreover, the government plans to increase the share of railways in the country’s total public transport from 40.0% in 2017 to 43.0% by 2021. Accordingly, the government plans to develop North Island Line and South Island Line (West) of the country with an investment of HKD110.0 billion (US$14.2 billion) by 2031.
- Forecast-period growth in the energy and utilities construction market will be driven by the government’s plan to increase the country’s power generation capacity to meet rising electricity demand. In July 2018, the government launched a new power development plan for the period of 2019-2023. Under this, the government plans to build two new gas fired power plants and a new offshore liquefied natural gas terminal in the country by 2023; this will increase the country’s energy generation capacity by 2023.
- GlobalData expects the institutional construction market to grow over the forecast period, though at slower rate compared to the review period, driven by the government’s focus on the education and healthcare sectors. Moreover, the government’s plan to increase research and development activity in the country is expected to support the market output over the forecast period. In FY2018-2019, the government increased its total spending on education sector by 28.4%, going from HKD88.5 billion (US$11.4 billion) in FY2017-2018 to HKD113.7 billion (US$14.5 billion). Moreover, in February 2018, the government allocated HKD2.0 billion (US$255.2 million) for the country’s education sector.
- The residential construction market’s forecast-period growth will be driven by the government’s plan to bridge gap between the demand and supply of houses in the country. In order to tackle housing crisis in the country, in September 2018 the government announced plans to build a new artificial island in the country. Under this, the government plans to build 400,000 housing units to accommodate 1.1 million people with an expected investment of HKD3.9 trillion (US$500.0 billion) by 2032.
- The total construction project pipeline in Hong Kong - as tracked by GlobalData, and including all mega projects with a value above US$25 million - and stands at HKD1.5 trillion (US$198.4 billion). The pipeline, which includes all projects from pre-planning to execution, is relatively dominated by late stage projects, with 70.6% of the pipeline value being in the pre-execution and execution stages as of February 2019.
Make an Inquiry before Buying@ https://www.orbisresearch.com/contacts/enquiry-before-buying/2701969
Scope:
- This report provides a comprehensive analysis of the construction industry in Hong Kong.
- Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Hong Kong, 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.
Key Points from TOC:
1. EXECUTIVE SUMMARY
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE
3. LATEST NEWS AND INDICATORS
4. KEY DRIVERS AND RISKS
5. CONSTRUCTION OUTLOOK
6. KEY INDUSTRY PARTICIPANTS
7. APPENDIX
8. ABOUT GLOBALDATA
Get More Information about this Report@ https://www.orbisresearch.com/reports/index/construction-in-hong-kong-key-trends-and-opportunities-to-2023
About Us:
Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.
Orbis Research
Hector Costello
+1 (214) 884-6817
sales@orbisresearch.com
Source: EmailWire.Com 
|
|
|
|
Construction News by Sector
|
|
|
|
Industrial News TV
|
