Japan Construction Market Outlook
According to the report by Expert Market Research (EMR), “The Japan Construction Market Size, Share, Analysis, Report and Forecast 2024-2032″,the Japan construction market reached a value of USD 585.30 billion in 2023. Aided by the robust infrastructure development and thriving manufacturing sectors, the market is projected to further grow at a CAGR of 3.0% between 2024 and 2032 to reach a value of USD 691.65 billion by 2032.
Construction is an essential sector in Japan, contributing significantly to the economy and employment. It involves the planning, design, and construction of buildings and infrastructure, including residential buildings, commercial properties, transportation networks, and utilities. The sector’s robustness is linked to various factors, including technological advancements, population growth, urbanisation, and government policies and investments.
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The escalating urbanisation trend is a key factor propelling the Japan construction market growth. With a growing population moving to urban areas for work and lifestyle reasons, there is an increased demand for residential, commercial, and infrastructural developments. This movement has led to a surge in construction activities, thereby bolstering the growth of the market.
In addition, the growing emphasis on smart and sustainable buildings is propelling the market forward. The drive towards sustainability and energy efficiency is influencing construction trends, leading to the increased use of renewable materials and the incorporation of energy-efficient systems in building design. Moreover, smart buildings, equipped with automation and IoT technology for improved functionality, comfort, and energy efficiency, are gaining traction, supporting the Japan construction market expansion.
The government’s commitment to infrastructure development also plays a crucial role in boosting the Japan construction market. The government has undertaken various initiatives and investment plans to modernise the country’s infrastructure, including transport networks and utilities. Furthermore, ahead of global events, such as the Tokyo Olympics, significant construction activities have been carried out, further stimulating the Japan construction market growth.
Technological advancements in construction methods and materials are expected to drive market growth over the forecast period. Innovations like 3D printing, prefabricated construction, and smart materials are revolutionising the construction industry, enabling faster and more efficient construction processes, while ensuring high quality and sustainability.
Japan construction market is poised for growth in the coming years, driven by the increasing urbanisation, emphasis on smart and sustainable construction, government initiatives for infrastructure development, and technological advancements in construction practices.
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Japan Construction Market Segmentation
The market can be divided based on sector and participants.
Market Breakup by Sector
- Residential
- Commercial
- Industrial
- Infrastructure (Transportation)
- Energy and Utilities
- Institutional
- Others
Market Breakup by Participants
- Contractors
- Consultants
Japan Construction Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Japan construction companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Kajima Corporation
- Obayashi Corporation
- Shimizu Corporation
- Nippon Koei Co., Ltd.
- Takenaka Corporation
- Sumitomo Mitsui Construction Co., Ltd.
- Zenitaka Corporation
- Daiwa House Industry Co., Ltd.
- Toshiba Plant Systems and Services Corporation
- Mori Building Co., Ltd.
- Others
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