Albany, NY -- (SBWIRE) -- 03/14/2018 -- Hong Kong's construction industry registered minimal growth in 2017, owing to reduced investments in transport infrastructure projects, particularly during the third quarter of the year. However, the industry's overall performance during the review period (2013–2017) remained positive, supported by government efforts to promote economic growth through investments in residential and transport infrastructure projects.
Following slow growth in 2017, the industry's expansion is expected to gather momentum in 2018, with modest growth continuing through the latter part of the forecast period to 2022. Growth in the industry is expected to be supported by positive developments in global demand, business confidence and private consumption.
Click to get Sample PDF: https://www.researchmoz.us/enquiry.php?type=S&repid=1647927
In addition, the ongoing implementation of government flagship programs, such as the Railway Development Strategy, Climate Action Plan 2030 and hospital development program are expected to add momentum to the industry's expansion over the forecast period.
Nevertheless, the industry's output value in real terms is expected to post a relatively slow forecast-period compound annual growth rate (CAGR) of 1.54%, down from 3.77% recorded during the review period.
Timetric's Construction in Hong Kong – Key Trends and Opportunities to 2022 report provides detailed market analysis, information and insights into Hong Kong's construction industry, including:
- The 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.
This report provides a comprehensive analysis of the construction industry in Hong Kong. It provides:
- Historical (2013–2017) and forecast (2018–2022) 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
View Complete TOC with Tables and Figures at: https://www.researchmoz.us/construction-in-hong-kong-key-trends-and-opportunities-to-2022-report.html/toc
- Timetric expects the residential construction market to retain its leading position over the forecast period, with a share of 36.7% of the industry's total value in 2022. In December 2017, the Hong Kong Housing Authority announced plans to construct 280,000 new housing units between 2018 and 2028 for the low- and middle-income population under the public housing construction program.
- In a bid to transform the country into a world-class smart economy, the government launched the Smart City Blueprint in December 2017, with special emphasis on six major initiatives: mobility, living, environment, people, government and economy.
- Timetric expects the infrastructure construction market output to record a forecast-period CAGR of 5.20% in nominal terms, driven by the government's efforts to enhance regional connectivity, while reducing traffic congestion arising from the country's population growth. Under the Railway Development Strategy launched in 2014, the government aims to expand the country's rail network by 2031.
- With an aim to address the growing demand for air transportation, in September 2017 the Airport Authority Hong Kong announced plans to develop a third runway at Chek Lap Kok International Airport.
- The Construction Intelligence Center (CIC) is tracking large-scale construction projects in Hong Kong with a combined total value of HKD1.6 trillion (US$205.2 billion), with around 75% of the pipeline value already in the execution stage as of March 2018.
ResearchMoz is the world's fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz's service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.
Albany NY - 12207
Tel: 866-997-4948 (Us-Canada Toll Free)
Follow us on LinkedIn at: http://bit.ly/1TBmnVG