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Market Research Report
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1093645

Taiwan Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

Published: | GlobalData | 26 Pages | Delivery time: 1-2 business days

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Taiwan Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
Published: May 11, 2022
GlobalData
Content info: 26 Pages
Delivery time: 1-2 business days
  • Description
  • Table of Contents
  • List of Tables

The construction industry in Taiwan is expected to expand by 3.4% in real terms in 2022, following an annual growth of 8.5% in 2021. The enhanced financial assistance of TWD200 billion ($7.3 billion) in 2021 to households and the government's continuing spending on infrastructure and public works aided the construction industry's output in 2021. According to the Directorate General of Budget, Accounting and Statistics (DGBAS), the industry's value add grew by 8.7% year on year (YoY) in Q4 2021, following Y-o-Y growth of 7.1% in Q3 and 8.5% in Q2 2021. Moreover, in 2022, the industry's output will be supported by the development of infrastructure projects under the Forward-Looking Infrastructure Development Program (FLIDP), with TWD229.8 billion ($8.4 billion) allocated to transportation developments. In addition, an increase in construction permits issued in 2021 will drive the industry's output in the short term. According to the Ministry of Interior (MoI), the total floor area of construction permits issued in the country rose by 4.6% YoY in 2021, with residential construction permits growing by 7.2% during the same period.

GlobalData forecasts the construction industry to register an annual average growth of 3.2% from 2023 to 2026, supported by investments on manufacturing, transport, and renewable energy projects. In 2021, Taiwan Semiconductor Manufacturing Company (TSMC) announced a plan to invest TWD2.75 trillion ($100 billion) over the next three years to expand its chip fabrication capacity, with the company planning to spend between TWD1 trillion ($40 billion) and TWD1.2 trillion ($44 billion) in 2022, up from the TWD824.3 billion ($30 billion) spent in 2021. In March 2022, the National Development Council (NDC) announced that the country plans to spend nearly TWD900 billion ($32.8 billion) on renewable technologies, grid infrastructure and energy storage between 2022 and 2030.

Forecast-period growth will also be supported by investments as part of the Forward-Looking Infrastructure Development Program (FLIDP). The FLIDP covers a wide range of public infrastructure projects, including sectors such as transport, green energy, digital infrastructure, and water environments. Previously, in September 2020, the government set aside TWD510 billion ($18.6 billion) for the second phase of the FLIDP program (2021-24), which will focus primarily on green energy infrastructure, railway infrastructure, 5G infrastructure establishment and digital transformation.

The report provides detailed market analysis, information, and insights into Taiwan's construction industry, including -

  • Taiwan'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 Taiwan'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.

Scope

This report provides a comprehensive analysis of the construction industry in Taiwan. It provides -

  • Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Taiwan, 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.
Product Code: GDCN0913MR

Table of Contents

Table of Contents

1. Construction Outlook

2. Construction Industry: At-a-Glance

3. Latest News and Developments

4. Project Analytics

5. Construction Market Data

6. Risk Profile

7. About GlobalData

  • 7.1 Definitions
  • 7.2 CRI Methodology

List of Tables

List of Tables

  • Table 1: Construction Industry Key Data
  • Table 2: Taiwan, Top Construction Projects by Value
  • Table 3: Taiwan, Construction Output Value (Real, $ Million)
  • Table 4: Taiwan, Construction Output Value (Nominal, TWD Billion)
  • Table 5: GlobalData Construction Market Definitions
  • Table 6: Risk Dimensions
  • Table 7: Ratings, Scores and Definitions

List of Figures

List of Figures

  • Figure 1: Taiwan, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
  • Figure 2: Taiwan, Construction Output Value, by Sector (Real, $ Million), 2017-26
  • Figure 3: North-East Asia, Construction Output (Real % Change), 2020-26
  • Figure 4: Taiwan, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
  • Figure 5: Taiwan, Construction Value Add, In Chained 2016 Prices, In TWD Million
  • Figure 6: Taiwan, Gross Fixed Capital Formation in the Construction Industry, 2016 Chained Prices, In TWD Million
  • Figure 7: Taiwan, Total Floor Area of Construction Commencement, In Thousand m2
  • Figure 8: Taiwan, Total Floor Area of Construction Licenses, In Thousand m2
  • Figure 9: Taiwan, Construction Cost Index, 2016=100
  • Figure 10: Taiwan, Employment in the Construction Industry, In Thousands
  • Figure 11: Taiwan, Visitor Arrivals, In Thousand
  • Figure 12: Taiwan, Hotel Occupancy Rate
  • Figure 13: Taiwan, Wholesale and Retail Trade Sales, % Change YoY
  • Figure 14: Taiwan, Sales of Food and Beverage Services, In TWD Billion, % Change YoY
  • Figure 15: Taiwan, Industrial and Manufacturing Production Indices, 2016=100, % Change YoY
  • Figure 16: Taiwan, Exports, In $ Million
  • Figure 17: Taiwan, Value Add of Real Estate Activities and Ownership of Dwellings, In Chained 2016 Prices, In TWD Million
  • Figure 18: Taiwan, Total Floor Area of Residential Construction Commencement, In Thousand m2
  • Figure 19: Taiwan, Total Floor Area of Residential Construction Licenses, In Thousand m2
  • Figure 20: Taiwan, Construction Projects Pipeline, Value by Stage ($ Million)
  • Figure 21: Taiwan, Risk Summary
  • Figure 22: Taiwan, Risk Regional Comparison