Construction in Hong Kong - Key Trends and Opportunities to 2024

Construction in Hong Kong - Key Trends and Opportunities to 2024



Hong Kongs construction industry was already in a dire state prior to the COVID-19 outbreak, with output contracting by 9.3% in 2019, and the situation has worsened amid the pandemic, with renewed tensions following political interference from China. Although the local protests have contributed to the worsening performance, given the impact on investor confidence, Hong Kongs construction industry had already been struggling amid a general slowdown in residential construction, and a sharp drop in transport infrastructure works.

According to the Census and Statistics Department (C&SD), the countrys construction industry continued to decline in the first quarter of 2020, dropping by 9% year-on-year (y-o-y) in real value add terms, marking the sixth consecutive quarterly decline on a y-o-y basis since the fourth quarter of 2018. In the coming quarters, the construction industry is expected to contract further, as investments on major infrastructure projects could be affected due to funding issues, as well as the fear of the resurgence of COVID-19 and the continuation of civil unrest.

Reflecting the recent disruption and the weaker outlook for economic growth, It expects the construction industry to contract by 9.2% in 2020. Key risks associated with Hong Kongs construction industry outlook include a worsening political crisis following Chinas decision to implement new national security laws for Hong Kong, and the subsequent decision by the US to remove Hong Kongs special status. The US governments trade war with China and the removal of Hong Kongs special status is expected to decrease investment in the construction industry.

This report provides detailed market analysis, information and insights into the Hong Kongs construction industry, including -
- The Hong Kongs construction industrys 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 Hong Kongs 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 Hong Kong. It provides -
- Historical (2015-2019) and forecast (2020-2024) 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 Its 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 Its critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

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
4 Construction Outlook
4.1. All Construction
4.1.1. Outlook
4.1.2. Latest news and developments
4.1.3. Construction Projects Momentum Index
4.2. Commercial Construction
4.2.1. Outlook
4.2.2. Project analytics
4.2.3. Latest news and developments
4.3. Industrial Construction
4.3.1. Outlook
4.3.2. Project analytics
4.3.3. Latest news and developments
4.4. Infrastructure Construction
4.4.1. Outlook
4.4.2. Project analytics
4.4.3. Latest news and developments
4.5. Energy and Utilities Construction
4.5.1. Outlook
4.5.2. Project analytics
4.5.3. Latest news and developments
4.6. Institutional Construction
4.6.1. Outlook
4.6.2. Project analytics
4.6.3. Latest news and developments
4.7. Residential Construction
4.7.1. Outlook
4.7.2. Project analytics
4.7.3. 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
8 About GlobalData
8.1. GlobalData Construction
8.2. Disclaimer
8.3. Contact Us

List Of Tables


Table 1: Construction Industry Key Data
Table 2: Hong Kong, Key Economic Indicators
Table 3: Hong Kong, Commercial Construction Output by Project Type (real % change), 2015-2024
Table 4: Hong Kong, Top Commercial Construction Projects by Value
Table 5: Hong Kong, Industrial Construction Output by Project Type (real % change), 2015-2024
Table 6: Hong Kong, Top Industrial Construction Projects by Value
Table 7: Hong Kong, Infrastructure Construction Output by Project Type (real % change), 2015-2024
Table 8: Hong Kong, Top Infrastructure Construction Projects by Value
Table 9: Hong Kong, Energy and Utilities Construction Output by Project Type (real % change), 2015-2024
Table 10: Hong Kong, Top Energy and Utilities Construction Projects by Value
Table 11: Hong Kong, Institutional Construction Output by Project Type (real % change), 2015-2024
Table 12: Hong Kong, Top Institutional Construction Projects by Value
Table 13: Hong Kong, Residential Construction Output by Project Type (real % change), 2015-2024
Table 14: Hong Kong, Top Residential and Mixed-Use Construction Projects by Value
Table 15: Hong Kong, Key Contractors
Table 16: Hong Kong, Key Consultants
Table 17: Hong Kong, Construction Output Value (Real, US$ Million)
Table 18: Hong Kong, Construction Output Value (nominal, HKD Million)
Table 19: GlobalData Construction Market Definitions

List Of Figures


Figure 1: North-East Asia, Construction Output (real % change), 2020
Figure 2: Hong Kong, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Hong Kong, COVID-19 Confirmed Cases
Figure 4: Hong Kong, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2015-2024
Figure 5: Hong Kong, Construction Output Value, by Sector (Real, US$ Million), 2015-2024
Figure 6: Hong Kong, Construction Value-Add (HKD Million, 2018 chained prices)
Figure 7: Hong Kong, Gross domestic fixed capital formation in building and construction, (HKD Million, at 2018 chained prices)
Figure 8: Hong Kong, Unemployment in Construction Industry
Figure 9: Hong Kong, Construction Projects Momentum Index
Figure 10: Hong Kong, Commercial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 11: Hong Kong, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 12: Hong Kong, Total Tourist Arrivals (in thousands)
Figure 13: Hong Kong, Retail sales (HKD billion)
Figure 14: Hong Kong, Industrial Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 15: Hong Kong, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 16: Hong Kong, Manufacturing production index (2015=100)
Figure 17: Hong Kong, Manufacturing Value-Add (HKD Million, 2018 chained prices)
Figure 18: Hong Kong, Total Merchandise Export (HKD Million)
Figure 19: Hong Kong, Infrastructure Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 20: Hong Kong, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 21: Hong Kong, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 22: Hong Kong, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 23: Hong Kong, Institutional Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 24: Hong Kong, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Hong Kong, Residential Construction Output by Project Type (Real, US$ Million), 2015-2024
Figure 26: Hong Kong, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Hong Kong, Gross value of building construction works performed by main contractors (2000 constant prices, HKD Million)
Figure 28: Hong Kong, Real estate Value-Add (HKD Million, 2018 chained prices)
Figure 29: Hong Kong, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 30: Hong Kong, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 31: GlobalData at a Glance

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