Increasing number of infrastructure projects and government-led initiatives in the region is driving the Canada construction market demand during the forecast period.

The Canada Construction Market size was valued at USD 253.77 billion in 2023, and is predicted to reach USD 402.35 billion by 2030, at a CAGR of 8.1% from 2024 to 2030, according to new research by Next Move Strategy Consulting.

The increasing number of infrastructure projects and government-led initiatives in Canada, fueled by the rising demand for sustainable housing solutions, is expected to drive expansion in the country's infrastructure market. In 2023, the Governments of Canada and Alberta pledged over USD 2.76 billion to complete and rejuvenate various infrastructure projects under the Canada Infrastructure Program. These projects benefit from cost-sharing agreements with provincial governments, municipalities, Indigenous communities, and other partners, fostering the Canada construction market growth.

However, the construction industry faces significant challenges arising from the complex maze of government regulations and permitting processes. These processes entail obtaining numerous permits and approvals from local, regional, and national authorities, covering zoning regulations, environmental assessments, building code compliance, safety standards, and other regulatory requirements. Challenges such as delays in permit acquisition, bureaucratic inefficiencies, and regulatory disparities across jurisdictions can significantly prolong project durations and increase costs.

In contrast, the construction sector is undergoing a transformative evolution driven by digitalization and the widespread adoption of Building Information Modeling (BIM). These advancements integrate state-of-the-art technologies to enhance efficiency, accuracy, and collaboration across various projects. BIM, a sophisticated 3D modeling tool, empowers stakeholders to generate and oversee digital representations of structures and infrastructure, fostering enhanced coordination and communication among project teams.

Request for a Sample here: https://www.nextmsc.com/canada-construction-market/request-sample

Several key players operating in the Canada construction industry include China State Construction Engineering Corp. Ltd. (CSCEC), China Railway Group Ltd. (CREC), China Railway Construction Corp. Ltd. (CRCC), China Communications Construction Group Ltd. (CCCC), Metallurgical Corporation of China Ltd. (MCC), Power Construction Corp. of China, Vinci SA, China Energy Engineering Corp. (CEEC), Shanghai Construction Group (SCG), Bouygues Group, and others.

Key Insights from the Canada Construction Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Canada construction market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The report provides an analysis of the Canada construction market share and competitive landscape of key players in the industry.