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The Indian construction market stands as a pivotal driver of the country's economic growth, offering immense potential for businesses to thrive.
The construction industry market size in India was $825.6 billion in 2023 and is expected to achieve an AAGR (Average Annual Growth Rate) of more than 5% during 2025-2028.
In terms of market share, the residential construction segment accounts for the largest share, followed by the infrastructure and industrial construction segments.
The Indian construction market is characterized by the presence of both large conglomerates and specialized players.
Some of the top construction companies in India include Larsen & Toubro, Shapoorji Pallonji Group, Tata Projects, Afcons Infrastructure, and Nagarjuna Construction Company.
These industry leaders are known for their expertise, innovative approaches, and ability to deliver large-scale projects.
The Indian construction market can be segmented based on various factors, including:
Construction Type: Residential, Commercial, Industrial, and Infrastructure
Material Type: Cement, Steel, Bricks, Tiles, and Glass
Project Size: Small, Medium, and Large
Geographic Region: North, South, East, and West
Understanding these market segments is crucial for businesses to develop targeted strategies and effectively cater to the diverse needs of their customers.
The construction sector India is expected to witness continued growth, driven by factors such as urbanization, infrastructure development, and the government's focus on affordable housing.
According to a report by KPMG, the construction industry market size in India is projected to grow at a CAGR of 15.7% from 2020 to 2025.
Key trends shaping the market include the rise of modular construction, the adoption of green building practices, and the increasing use of technology in project management.
The construction material industry in India is a crucial component of the overall construction market.
Cement, steel, and other building materials play a vital role in project execution. Businesses must ensure a reliable and efficient supply chain to meet the growing demand for construction materials, leveraging strategic partnerships and technological advancements to optimize their operations.
This market is embracing digital transformation, with the adoption of technologies such as Building Information Modeling (BIM), drones, and project management software. Businesses that invest in technological integration can enhance their operational efficiency, improve project delivery, and stay ahead of the competition.
The demand for construction services in India is driven by factors such as rapid urbanization, infrastructure development, and the growing need for affordable housing.
According to the India Brand Equity Foundation (IBEF), the Indian construction industry is expected to reach a market size of $1.4 trillion by 2025, growing at a CAGR of 15.7% from 2020 to 2025.
The government's initiatives, such as the Smart Cities Mission and the Pradhan Mantri Awas Yojana, are further fueling the demand for construction activities. The future outlook for the Indian construction market remains positive, with continued growth expected in the residential, commercial, and infrastructure sector.
In conclusion, for business decision-makers aiming to stay ahead in the dynamic Indian construction market analysis, delving into research reports is paramount. Research firms like Ken Research offer comprehensive reports providing in-depth analysis, market insights, and trends crucial for strategic decision-making.
These reports offer detailed information on market size, share, segmentation, forecasting, and emerging opportunities, empowering businesses to make informed choices and capitalize on the sector's growth potential.
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