Government's heightened emphasis on infrastructure development across the region is driving the Taiwan construction market demand during the forecast period.

The Taiwan Construction Market size was valued at USD 56.55 billion in 2023, and is predicted to reach USD 74.35 billion by 2030, at a CAGR of 3.4% from 2024 to 2030, according to the new research by Next Move Strategy Consulting.

Taiwan's construction industry is currently undergoing rapid expansion, primarily fueled by the government's heightened emphasis on infrastructure development, particularly in railway initiatives. In January 2024, the Taiwanese government, under the auspices of the Ministry of Transportation and Communications, greenlit the commencement of the Blue Line project, the second metro line in Taiwan.

Spanning 24 kilo meters with 20 stations, this line will link the eastern and western regions of Taichung and is slated to become operational in approximately a decade, with an estimated budget of USD 5.05 billion. While the government earmarked USD 2.1 billion for the project, the Taichung authorities will contribute USD 2.93 billion.

Additionally, the Taiwanese government is actively engaged in other metro projects within the construction market, including the Taipei Circular Line. For this endeavor, an Alstom-led consortium, in collaboration with the Taiwanese engineering and contracting services firm CTCI, secured a contract to deliver an integrated metro system.

However, the construction market faces substantial challenges arising from the intricate landscape of government regulations and permitting procedures, that require a range of permits and approvals from local, regional, and national authorities. These requirements encompass zoning regulations, environmental assessments, compliance with building codes, safety standards, and other regulatory prerequisites.

Permit delays, bureaucratic inefficiencies, and discrepancies in regulations across different jurisdictions can significantly prolong project timelines and increase costs. Moreover, fluctuations in regulations or unforeseen policy changes can disrupt ongoing projects and deter future investments.

On the other hand, digital transformation and the adoption of Building Information Modeling (BIM) are reshaping the construction landscape by integrating advanced technologies to improve efficiency, accuracy, and collaboration across projects. BIM, a sophisticated 3D modeling tool, empowers stakeholders to create and manage digital representations of structures and infrastructure, thereby enhancing coordination and communication among project teams. 

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Several key market players operating in the Taiwan 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 Taiwan Construction Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Taiwan 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 Taiwan construction market share and competitive landscape of key players in the industry.