The Freedonia Group has published a new study on the CNY 7.8 trillion Chinese construction industry with a forecast through 2014. Construction expenditures in China are expected to rise 9.1 % annually in real terms through 2014 to CNY 12 trillion. Despite a significant moderation in growth from the pace of the 2004 - 2009 period, China still represents the fastest growing national market in the world, according to the study.
Non-building construction is forecast to be the fastest growing sector, advancing 10.0 % annually in real terms through 2014, based on government spending initiatives to expand and upgrade China's transportation infrastructure, including highways, railways and subway systems.
Residential building is the largest market for construction in China and accounted for 37 % of total construction spending in 2009. Residential building construction expenditures are expected to increase at an annual pace of 8.4 % through 2014.
Non-residential building construction expenditures are forecast to rise 9.0 % per year through 2014. Growth will be driven by rebounding local and foreign investment in the manufacturing sector, according to the study. Government efforts to improve public services such as health care and education will also spur gains.
The study presents historical demand data for the years 1999, 2004 and 2009, and forecasts for 2014 and 2019 by type, market, and Chinese region.
More market studies:
· Roofing Study 2603, The Freedonia Group, Cleveland, OH, USA, 2010, 379 p., USD 4,900.00 · World Wound Management Products Study 2578, The Freedonia Group, Cleveland, OH, USA, 2010, 337 p., USD 5,800.00