India Construction Markets Report 2022-2028: Expanding Construction of Roads & Highways Bodes Well for the Industry

DUBLIN, Feb. 11, 2023 /PRNewswire/ -- The "India Construction Market, By Type (Building Construction, Heavy and Civil Engineering Construction, Specialty Trade Contractors, Land Planning and Development), By Machinery, By Industry, By Region, Competition Forecast & Opportunities, 2028" report has been added to  ResearchAndMarkets.com's offering.

India construction market is anticipated to grow with an impressive CAGR in the forecast period, 2024-2028, on the account of increasing investment in the sector.

Expansion of the construction industry is also dependent on the growing need for the housing and accommodations for the population. Rising population of the country and growing demand for government aided accommodations, further drive the growth of the India construction market in the upcoming five years.

With rising concerns over availability of the construction material and price inflation due to COVID-19, the industry was drastically affected that is expected to reinstate its growth in the next five years along with the government funding through Union Budget 2022.

Growing Demand For Building Infrastructure Promises Market Growth

Rapidly increasing demands for the residential buildings and other infrastructure is majorly responsible for the growth of the India construction market in the upcoming five years. Rising population of the country and growing demand for home ownerships further facilitates the growth of the India construction market in the next five years.

Growing urbanization and industrialization further aids to the market growth. As of August 1st, 2021, the India construction industry valued over USD355.3 billion. The market is further anticipated to grow with the government's involvement and investments in the sector.

Expanding Construction of Roads & Highways

Increasing construction of roads and highways all over the country as a source of development in the state is further responsible for the future growth of the India construction market in the upcoming five years.

The government is highly inclined toward renovating and renewing the prior road & highway construction along with soon to start 100 smart cities project that is anticipated to further expand the growth of the India construction market in the forecast years.

Surge in the demand to access the difficult terrains of the country along with increasing demand for the vehicular access to the multiple locations also substantiate the growth of the India construction market in the future five years.

Growing Industrial Construction Promises Market Growth

In the recent years, multiple industries and Make In India project has aided to the increasing construction of the industries and factories.

Surge in the demand for the heavy machinery, excavation equipment, construction tools and growing prices of these products further aid the growth of the India construction market in the upcoming five years. Moreover, construction of airports, railways, seaports also support the growth of the India construction market in the future five years.

Under Regional Connectivity Scheme, construction of airports and related infrastructure is further increasing. For the construction of seaports in India the government has planned an investment for over USD82 billion in 574 different projects, that substantiates the growth of the India construction market in the next five years.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India construction market.

• L&T
• Megha Engineering & Infrastructures Limited
• Shapoorji Pallonji Co. Pvt. Ltd.
• Tata Projects
• KEC International Limited
• Afcons Infrastructure Ltd.
• Dilip Buildcon Limited
• Hindustan Construction Co. Ltd.
• NCC Limited
• Lodha Group

Report Scope:

India Construction Market, By Type:

• Building Construction
• Heavy and Civil Engineering Construction
• Specialty Trade Contractors
• Land Planning and Development

India Construction Market, By Machinery:

• Earth Moving
• Material Handling
• Concrete & Road Construction

India Construction Market, By Industry:

• Industrial
• Commercial
• Infrastructure
• Residential

India Construction Market, By Region:

• South
• West
• North
• East

For more information about this report visit https://www.researchandmarkets.com/r/chqu2k

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SOURCE Research and Markets