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Construction in Japan - Key Trends and Opportunities to 2025 (H1 2021)

April 2021 | 50 pages | ID: C6500BEDB479EN
GlobalData

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Construction in Japan - Key Trends and Opportunities to 2025 (H1 2021)

SUMMARY

Japan’s construction industry was adversely affected by the coronavirus (COVID-19) pandemic, as well as the consequent introduction of state of emergency measures. Even though no strict nationwide lockdown was enforced in response to the crisis, the construction industry has been impacted by social distancing regulations and the temporary halt in construction works, resulting in a decline of 4% in 2020. According to the Economic and Social Research Institute (Cabinet Office, Government of Japan), private investment on building construction declined by 11.1% year on year (YoY) in Q3 2020, following a decline of 7% in the previous quarter. In addition, the total value of contracts received for construction declined by 7% YoY in 2020.

GlobalData expects the construction industry to stabilize and register growth of 1.7% in 2021, before growing at an annual average growth rate of 0.9% during 2022-2025, supported by investment in the transport, renewable energy, telecommunication, and manufacturing sectors. The government plans to develop 10GW of offshore wind capacity by Fiscal Year (FY) 2030/2031, in line with its target to increase the share of renewable energy in its total power mix to 22-24% by 2030. Investments in manufacturing plants will be supported by the government’s focus on strengthening its supply chains and reducing dependence on China. To achieve this, in April 2020 the government allocated JPY220 billion (US$2 billion) in subsidies to attract manufacturing companies exiting China.

This report provides detailed market analysis, information, and insights into Japan’s construction industry, including -
  • Japan’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 Japan’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 Japan. It provides -
  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Japan, 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.
1 EXECUTIVE SUMMARY

2 CONSTRUCTION INDUSTRY: AT-A-GLANCE

3 CONTEXT

3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status

4 CONSTRUCTION OUTLOOK

4.1 All Construction
Outlook
Latest news and developments
Construction Projects Momentum Index
4.2 Commercial Construction
Outlook
Project analytics
Latest news and developments
4.3 Industrial Construction
Outlook
Project analytics
Latest news and developments
4.4 Infrastructure Construction
Outlook
Project analytics
Latest news and developments
4.5 Energy and Utilities Construction
Outlook
Project analytics
Latest news and developments
4.6 Institutional Construction
Outlook
Project analytics
Latest news and developments
4.7 Residential Construction
Outlook
Project analytics
Latest news and developments

5 KEY INDUSTRY PARTICIPANTS

5.1 Contractors
5.2 Consultants

6 CONSTRUCTION MARKET DATA

7 APPENDIX

7.1 What is this Report About?
7.2 Definitions
7.3 GlobalData Construction
Contact Us

LIST OF TABLES

Table 1: Construction Industry Key Data
Table 2: Japan, Key Economic Indicators
Table 3: Japan, Commercial Construction Output by Project Type (real % change), 2016-2025
Table 4: Japan, Top Commercial Construction Projects by Value
Table 5: Japan, Industrial Construction Output by Project Type (real % change), 2016-2025
Table 6: Japan, Top Industrial Construction Projects by Value
Table 7: Japan, Infrastructure Construction Output by Project Type (real % change), 2016-2025
Table 8: Japan, Top Infrastructure Construction Projects by Value
Table 9: Japan, Energy and Utilities Construction Output by Project Type (real % change), 2016-2025
Table 10: Japan, Top Energy and Utilities Construction Projects by Value
Table 11: Japan, Institutional Construction Output by Project Type (real % change), 2016-2025
Table 12: Japan, Top Institutional Construction Projects by Value
Table 13: Japan, Residential Construction Output by Project Type (real % change), 2016-2025
Table 14: Japan, Top Residential Construction Projects by Value
Table 15: Japan, Key Contractors
Table 16: Japan, Key Consultants
Table 17: Japan, Construction Output Value (Real, US$ Million)
Table 18: Japan, Construction Output Value (Nominal, JPY Million)
Table 19: GlobalData Construction Market Definitions

LIST OF FIGURES

Figure 1: North-East Asia, Construction Output (real % change), 2020 and 2021
Figure 2: Japan, Construction Projects Pipeline by Sector (US$ Billion)
Figure 3: Japan, COVID-19 Confirmed Cases
Figure 4: Japan, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate), 2016-2025
Figure 5: Japan, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
Figure 6: Japan, Total Floor Area of Building Construction Started, % Change YoY
Figure 7: Japan, Value of Contracts Received for Construction, % Change YoY
Figure 8: Japan, Total Value of Private Sector Investments on Buildings, (in JPY Billion)
Figure 9: Japan, Gross Fixed Capital Formation, (JPY Billion, 2011 Chained Prices)
Figure 10: Japan, Construction Projects Momentum Index
Figure 11: Japan, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 12: Japan, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 13: Japan, Foreign Visitor Arrivals (in Thousands)
Figure 14: Japan, Wholesale and Retail Trade (% Change YoY)
Figure 15: Japan, Sales in the Accommodation and Food Services Sector, % Change YoY
Figure 16: Japan, Commercial Property Prices, (2010=100), % Change YoY
Figure 17: Japan, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 18: Japan, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 19: Japan, Manufacturing Production Index (2015=100), Seasonally Adjusted
Figure 20: Japan, Manufacturing PMI
Figure 21: Japan, New Motor Vehicle Sales (in Thousands)
Figure 22: Japan, Exports (in JPY Trillion)
Figure 23: Japan, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 24: Japan, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 25: Japan, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 26: Japan, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 27: Japan, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 28: Japan, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 29: Japan, Construction Started on Schools and Hospitals, Total Floor Area % Change YoY
Figure 30: Japan, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
Figure 31: Japan, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
Figure 32: Japan, Consumer Confidence Index, Seasonally adjusted
Figure 33: Japan, Number of New Construction Starts of Dwellings (in Thousands)
Figure 34: Japan, Private Residential Investments (in JPY Billion)
Figure 35: Japan, Existing Home Sales in Tokyo and Osaka Metropolitan Areas, % Change YoY
Figure 36: Japan, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 37: Japan, Headquarters of Key Consultants (% of Total Project Pipeline)


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