Construction in the Philippines - Key Trends and Opportunities to 2025 (Q3 2021)

Construction in the Philippines - Key Trends and Opportunities to 2025 (Q3 2021)

Summary

The Philippine construction industry was severely affected by the disruption caused by the COVID-19 pandemic, and as a result, the industry contracted by 30.3% in real terms in 2020. Following the sharp contraction in 2020, the industry registered marginal growth in the first half of this year, supported by improved progress on construction projects following an easing of restrictions.

GlobalData expects the construction industry to record an annual growth of 21.9% in 2021, with output surpassing pre-pandemic levels in 2023; the sectors output in the second half of this year will be supported by improving investor confidence and investment in transport, renewable energy, residential and commercial infrastructure projects. Additionally, the PHP4.5 trillion (US$86.4 billion) national budget for 2021 will focus on improving the healthcare system and increasing investment in public and digital infrastructure. The government is focusing on the development of renewable energy projects, in line with its target to increase the share of renewable energy in the total energy mix to 55.8% by 2040. The plan involves the production of 15.3GW of solar PV and wind capacity by 2040. The industry is projected to expand by an annual average rate of 9.6% over the remainder of the forecast period (2022-2025). The AmBisyon Natin 2040 programme, which promotes the development of affordable housing, transport and renewable energy infrastructure, is expected to drive the industrys long-term growth.

An increase in Foreign Direct Investment (FDI) will also contribute to the industrys growth momentum in the early part of the forecast period. According to the Philippines Statistic Authority (PSA), the total incoming foreign investment approved by the six Investment Promotion Agencies (IPAs) grew by 45.5% year-on-year (YoY) in the second quarter of 2021, increasing from PHP15.5 billion (US$310.2 million) in Q2 2020 to PHP22.5 billion (US$450.4 million) in Q2 2021.

GlobalDatas Construction in the Philippines - Key Trends and Opportunities to 2025 (Q3 2021) report provides detailed market analysis, information and insights into the Philippine construction industry, including -
- The Philippine 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 Philippine 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 the Philippines. It provides -
- Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in the Philippines, 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 GlobalDatas 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 GlobalDatas critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
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
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- 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
7.3 CRI Methodology
7.4 GlobalData Construction
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List Of Tables

List of Tables
Table 1: Construction Industry Key Data
Table 2: The Philippines, Key Economic Indicators
Table 3: The Philippines, Commercial Construction Output by Project Type (Real % Change), 2016-2025
Table 4: The Philippines, Top Commercial Construction Projects by Value
Table 5: The Philippines, Industrial Construction Output by Project Type (Real % Change), 2016-2025
Table 6: The Philippines, Top Industrial Construction Projects by Value
Table 7: The Philippines, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
Table 8: The Philippines, Top Infrastructure Construction Projects by Value
Table 9: The Philippines, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
Table 10: The Philippines, Top Energy and Utilities Construction Projects by Value
Table 11: The Philippines, Institutional Construction Output by Project Type (Real % Change), 2016-2025
Table 12: The Philippines, Top Institutional Construction Projects by Value
Table 13: The Philippines, Residential Construction Output by Project Type (Real % Change), 2016-2025
Table 14: The Philippines, Top Residential Construction Projects by Value
Table 15: The Philippines, Key Contractors
Table 16: The Philippines, Key Consultants
Table 17: The Philippines, Construction Output Value (Real, US$ Million)
Table 18: The Philippines, Construction Output Value (Nominal, PHP Billion)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions

List Of Figures

List of Figures
Figure 1: South and South-East Asia, Construction Output (Real % Change), 2020 and 2021
Figure 2: The Philippines, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: The Philippines, COVID-19 Confirmed Cases
Figure 4: The Philippines, Risk Summary
Figure 5: The Philippines, Risk Regional Comparison
Figure 6: The Philippines, Construction Output Value (Real, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
Figure 7: The Philippines, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 8: The Philippines, Construction Value Add, In PHP Billion, 2018 Constant Prices, % Change YoY
Figure 9: The Philippines, Gross Fixed Capital Formation, 2018 Constant Prices, % Change YoY
Figure 10: The Philippines, Construction Materials Retail Price Index in the National Capital Region (2012=100)
Figure 11: The Philippines, Total Approved Foreign Investments, In PHP Billion, % Change YoY
Figure 12: The Philippines, Construction Projects Momentum Index
Figure 13: South-East Asia, Construction Projects Momentum Index
Figure 14: The Philippines, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 15: The Philippines, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 16: The Philippines, Services Value Add, In PHP Billion, 2018 Constant Prices, % Change YoY
Figure 17: The Philippines, Accommodation and Food Service Value Add (PHP Billion, 2018 Constant Prices), % Change YoY
Figure 18: The Philippines, Wholesale and Retail Trade Value Add, at 2018 Constant Prices, % Change YoY
Figure 19: The Philippines, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 20: The Philippines, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 21: The Philippines, Manufacturing Value Add, In PHP Billion, 2018 Constant Prices, % Change YoY
Figure 22: The Philippines, Manufacturing Production Value and Volume Index, 2018=100
Figure 23: The Philippines, Total Exports, In US$ Billion, % Change YoY
Figure 24: The Philippines, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 25: The Philippines, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 26: The Philippines, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 27: The Philippines, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 28: The Philippines, Electricity Value Add, In PHP Billion, 2018 Constant Prices, % Change YoY
Figure 29: The Philippines, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 30: The Philippines, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 31: The Philippines, Value Add of Education, In PHP Million, 2018 Constant Prices, % Change YoY
Figure 32: The Philippines, Human Health and Social Work Activities Value Add, In PHP Million, 2018 Constant Prices, % Change YoY
Figure 33: The Philippines, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 34: The Philippines, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 35: The Philippines, Value Add of Real-Estate and Ownership of Dwellings, In PHP Billion, 2018 Constant Prices, % Change YoY
Figure 36: The Philippines, Residential Real Estate Price Index, 2014=100, % Change YoY
Figure 37: The Philippines, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 38: The Philippines, Headquarters of Key Consultants (% of Total Project Pipeline)

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