Construction Market in Philippines - Market Size and Forecast 2015-2019 is a new market research publication announced by Reportstack.
Overview of the Construction Market in Philippines:
Ranked as the 12th most populous country in the world, Philippines is home to a population of close to 99 million with 45 percent of the country's population categorized as urban. The population is expected to grow at a rate of 2% per annum during the forecast period.
The country is currently facing a severe crunch in residential housing and to tackle this issue the government of Philippines plans to construct more than 1 million housing units by the end of 2016. Public infrastructure in the country is expected to gain a significant boost with projects such as the six new airports that are expected to come up in this period.
With increased investments in the residential, non-residential and infrastructure sector, the Construction Market in Philippines is expected to grow significantly during the forecast period and post a CAGR of over 14%.
To access full report with TOC, please visit Construction Market in Philippines - Market Size and Forecast 2015-2019.
Competitive Landscape of the Construction Market in Philippines:
There is intense competition among the well-established players in the Construction Market in Philippines. The number of construction projects is expected to increase with an increase in public sector expenditure. The increase in investment in the Construction Market in Philippines, combined with the rapid growth of the economy, creates an ideal condition for a number of international vendors to enter the market during the forecast period.
The top construction companies of the market include:
Some of the other prominent vendors in the market include Robinsons Land Corporation, Century Properties and Rockwell Land Corporation.
Reconstruction Market in Philippines:
Following the aftermath of typhoon Haiyan in November 2013, the Philippine Government has significantly stepped up reconstruction efforts in the typhoon hit areas of the country. The typhoon was a category-5 disaster that hit the eastern island of Lyte. It has destroyed buildings and damaged public infrastructure to the tune of $14 billion.
The market is witnessing increased investments towards reconstruction and rehabilitation, and it is expected to contribute to the growth of the market during the forecast period. Other than housing some major projects are underway to reconstruct Tacloban City’s main airport, seaports, cargo terminals, power lines, hospitals and mobile network stations.
Key Vendor Selection Criteria of the Construction Market in Philippines:
Risk Management Abilities
Philippines comprises more than 7000 islands; it is a volcanic region and is environmentally volatile. Having recently experienced a category five disaster, the market is witnessing increased caution for selection of vendors. The life cycle of construction projects stretches over many years. A vendor’s reputation and the ability to handle unpredicted events related to financial, environmental, and political uncertainties is a major influencing factor in the Construction Market in Philippines.
Segmentation of the Construction Market in Philippines by Sector: (Market Shares Includes)
In 2014, the Residential sector attracted investment to the tune of around US$10 billion and it would continue to account for a significant share of the Construction Market in Philippines. The infrastructure sector is expected to be the fastest growing sector during the forecast period with a major chunk of the investments expected to be made on the construction of new airports and public infrastructure in Philippines.
Other Sections of the Report Include an Analysis on the Following:
Contribution of the Construction Industry of Philippines to its National GDP
Upcoming Airport Projects and their Estimated Project Costs
Key Drivers and their Impact on the Construction Market in Philippines
Key Challenges and their Impact on the Construction Market in Philippines
Key Trends and their Impact on the Construction Market in Philippines
Five Forces Analysis of the Construction Market in Philippines
SWOT Analysis of the Key Vendors of the Construction Market in Philippines
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