Vietnam Construction Market Overview 

Base Year: 2023

Forecast Years: 2024-2032

Historical Years: 2018-2023

Market Growth Rate: 8.01% (2025-2033)

According to the latest report by IMARC Group, the Vietnam construction market size is projected to exhibit a growth rate (CAGR) of 8.01% during 2024-2032.

Vietnam Construction Industry Trends and Drivers:

Vietnam's construction market is currently in a phase of significant development, propelled by a multiplicity of driving factors at work in various sectors. One of the core influences driving the current expansionary trend is the massive demand for infrastructure development, particularly in the transport and the energy sectors. With urbanization spreading across the nation, the need for modern transportation systems such as highways, bridges, and airports is increasing in intensity. This is parallel to the increasing investments in construction associated with energy and utilities that seek to quench the thirst of a more industrialized economy. Large-scale projects like energy plants and utility networks are being supported by government initiatives and foreign capital, providing extra buoyancy to the sector. On the other hand, increasing demand for residential and commercial properties in urban areas is also fuelling construction, as public and private investments are directed toward new housing and office buildings that will accommodate a growing population and workforce.

Simultaneously, industrial construction is gathering speed as the country rises into the global manufacturing arena. Changing economic dynamics into a more diverse one in the areas of technology, automotive and consumer goods industries will require expansion of production facilities. Activities are changing the constructions markets, as factories, warehouses, and industrial parks are being built to sustain manufacturing space growth. Also, the government efforts to improve the industrial infrastructure, in tandem with attractive policies to foreign investments, are accelerating the growth of the industrial sector. This is enhancing job opportunities, thereby helping maintain the country's competitive edge in the global market.

Residential construction in Vietnam finds itself in a boom, attributable to the expanding middle class with ever-increasing disposable incomes. More people are investing in home ownership, thus raising the demand for residential projects, with the spectrum covering affordable housing to the luxury apartment. This growing demand is acting as a spur for developers to erect projects of varied nature in urban centres, where land is now beginning to bite. In the same light, commercial construction continues to enjoy steady demand, driven by the booming retail market and demand for office space from local and global companies. Continuing government effort to improve the business environment and attract investment is enhancing demand for commercial infrastructure. As these sectors grow, the Vietnam construction market is poised to continue to grow, offering opportunities for construction and real estate development enterprises.

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Vietnam Construction Industry Segmentation:

The report has segmented the market into the following categories:

Sector Insights:

• Residential Construction
• Commercial Construction
• Industrial Construction
• Infrastructure (Transportation) Construction
• Energy and Utilities Construction
   

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• An Phong Construction Joint Stock Company
• Central Construction Joint Stock Company
• Construction Joint Stock Company
• Coteccons Construction JSC
• CTCI Vietnam Co. Ltd.
• GS E&C Vietnam
• Newtecons

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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