India Construction Market is expected to grow at a CAGR of 6.87% Through 2030
India Construction Market is
expected to show robust growth due to rising investments in the industry during
the forecast period.
According to
TechSci report on, “India Construction Market, By Region, Competition
Forecast & Opportunities, 2020-2030”. India construction market is anticipated
to grow with an impressive CAGR during the forecast years and expand to
generate high revenues for the country’s GDP on the backbone of growing
investments in the sector. Industrial growth is highly dependent on the growing
population of the country. The growing population coupled with their rising
disposable income are upgrading the demands for the residential accommodations.
While the below poverty line population is still dependent over government to
provide for their accommodations. Middle class and high class population is
actively spending lavishly over their residential accommodations and the
growing demand for home ownerships further supports the growth of the India
construction market in the next five years. Government aided growth schemes and
investments are also aiding the market growth. Recently launched plans for the
100 smart cities project is one of the many inter-state construction growths in
the country. Increasing construction in the industrial sector due to growing
industrialization, and urbanization is also responsible for the futuristic
growth of the India construction market in the future five years. Bharatmala
Pariyojana is a new highways umbrella program that focuses on improving the
efficiency of freight and passenger movement across the country by bridging
critical infrastructure gaps with effective interventions such as the
development of Economic Corridors, Inter Corridors and Feeder Routes, National
Corridor Efficiency Improvement, Border and International Connectivity Roads,
Coastal and Port Connectivity Roads, and Green-field expressways.
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in-depth TOC on "India Construction Market"
Based on type, Heavy and Civil Engineering Construction segment dominates the market, In the India construction market, the Heavy and Civil Engineering Construction segment holds significant dominance due to its pivotal role in infrastructure development. This segment encompasses projects of substantial scale and complexity, typically involving the construction of infrastructure such as highways, bridges, airports, railways, dams, and irrigation systems. These projects are crucial for enhancing connectivity, facilitating economic growth, and improving quality of life across the country.
One of the primary drivers of this dominance is the Indian government's ambitious infrastructure development agenda. Initiatives like Bharatmala, Sagarmala, and the National Infrastructure Pipeline (NIP) aim to modernize and expand India's infrastructure backbone. These programs prioritize the construction of new highways, expressways, and bridges to connect remote areas and reduce travel times between major cities. The development of ports, coastal economic zones, and inland waterways under Sagarmala is crucial for boosting maritime trade and industrial growth. The NIP, with its focus on strategic sectors like energy, water, and urban infrastructure, underscores the government's commitment to robust infrastructure development.
Urbanization and population growth drive the demand for heavy and civil engineering construction. As more people migrate to urban centers, there is a pressing need for urban infrastructure such as metro rail networks, mass transit systems, sewage treatment plants, and smart city initiatives. These projects require extensive civil engineering expertise and heavy construction capabilities to ensure durability, safety, and sustainability.
The industrialization of India further amplifies the dominance of this segment. The establishment of manufacturing hubs, industrial corridors, and special economic zones necessitates the construction of industrial infrastructure, including factories, warehouses, and logistics parks. These facilities require specialized civil engineering solutions to meet industry-specific requirements and adhere to regulatory standards.
Moreover, the emphasis on sustainable development and green infrastructure is influencing projects within the heavy and civil engineering construction segment. There is a growing adoption of eco-friendly construction practices, such as using recycled materials, incorporating renewable energy sources, and implementing water conservation measures. Infrastructure projects are increasingly designed to minimize environmental impact and enhance resilience against climate change, reflecting global sustainability trends.
Technological advancements also play a crucial role in driving this segment forward. The adoption of advanced construction technologies like Building Information Modeling (BIM), drones for site monitoring, and automated machinery improves project efficiency, reduces construction time, and enhances safety on-site. These innovations enable better project management, cost control, and quality assurance, making them indispensable in the execution of large-scale infrastructure projects.
The dominance of the Heavy and Civil Engineering Construction segment in the India construction market is underpinned by its essential role in infrastructure development, driven by government initiatives, urbanization, industrialization, sustainability goals, and technological advancements. As India continues to prioritize infrastructure modernization and expansion, this segment is poised to remain a key driver of economic growth and development in the years to come.
A partial list of market players in the field
includes:
- Larsen & Toubro Limited
- Megha Engineering & Infrastructures Limited
- Shapoorji Pallonji & Company Private Limited
- Tata Projects Limited
- KEC International Limited
- Afcons Infrastructure Limited
- Dilip Buildcon Limited
- Hindustan Construction Company Limited
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“Construction
industry in India is anticipated to further grow in the future years owing to
the growing investments in the sector. Government’s involvement through
investments and favorable schemes is also anticipated to support the market
growth. Higher prices of the construction equipment and supported with growing
construction equipment rental market is expected to substantiate the growth of
the India construction market. Rising population, coupled with their rising
disposable income and demand for owing personal homes is fueling the India
construction market. Although due to COVID-19 the market suffered losses since
the further constructions were halted for two years. With the reinstatement of
the construction projects, and government aided funds through state government
involvement is substantiating the growth of the India construction market in
the future five years. New market players may focus on the technological
advancement, incorporating IT into the construction industry and various
prospects would also aid the growth of the India construction market and
support the new market players in establishing their brands in the industry,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India Construction Market By Type (Building
Construction, Heavy and Civil Engineering Construction, Specialty Trade
Contractors, Land Planning and Development), By Machinery (Earth Moving,
Material Handling, Concrete & Road Construction), By Industry (Industrial,
Commercial, Infrastructure and Residential), By Region, Competition Forecast
& Opportunities, 2030” has evaluated the future growth
potential of India construction market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges, and opportunities
in India construction market.
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