Canada Construction Market

Canada Construction Market Overview:

The Canada construction market is projected to exhibit a growth rate (CAGR) of 5.10% during ​2024-2032​. The market is propelled by the government's strong focus on infrastructure development, continuous urbanization and population growth, overall economic growth, and technological advancements and the increasing emphasis on sustainability.

Canada Construction Market Trends:

Urbanization and Infrastructure Demand

One of the most important drivers of the Canadian construction business is growing urbanization and the demand for infrastructure development. As per Canada Census 2021, with a detailed analysis of growth in Census Metropolitan Areas (CMAs), among the 41 metropolitan areas, 77% of the population growth between the 2016 and 2021 censuses was in the suburbs, with 23% in the urban core. The suburbs have 78.5% of the total CMA population, with 21.5% in the urban cor As Canada's population grows, particularly in urban areas such as Toronto, Vancouver, and Montreal, there is a greater demand for residential, commercial, and public infrastructure developments. The government's emphasis on constructing smart cities, strengthening public transit systems, and improving utilities and services all contribute to this trend. Investments in roads, bridges, public transportation, and utilities serve the current population and plan for future expansion. Continuous urbanization and the requirement for updated infrastructure fuel sustained demand in the building industry.

Government Spending

Government spending and stimulus initiatives have a significant impact on the Canada construction market. Infrastructure projects have received significant funding from the federal, provincial, and municipal governments as part of economic recovery measures and long-term development objectives. The Investing in Canada Infrastructure Program (ICIP) seeks to offer major funding for a variety of building projects, including public transportation, green infrastructure, and community development. Through ICIP, Infrastructure Canada has already approved more than $24 Billion toward 5,400 projects of the $33 Billion program. Federal investments are already being delivered via five funding streams, over $12.4 Billion for 413 projects under the Public Transit Stream, $6.5 Billion for 1411 projects under the Green Infrastructure Stream; $1.2 Billion for 793 projects under the Community, Cultural and Recreational Infrastructure stream, $1.9 Billion for 685 projects under the Rural and Northern Communities Infrastructure Stream, and over $1.9 Billion for 2173 projects under the COVID-19 Resilience Stream. These investments create jobs and drive economic growth, which increases activity in the building industry. The government's commitment to fixing infrastructure deficiencies and improving public amenities ensures a steady influx of projects in the building pipeline.

Canada Construction Market News:

• In December 2023, Anthem Properties announced that it had acquired Calgary-based builder Cedarglen Homes. Anthem Properties was founded and is based in Vancouver and has a sizeable portfolio of projects in Alberta, most notably D'Arcy, a 280-acre master-planned community in Okotoks. This exciting partnership with Anthem Properties will open a world of opportunities for our employees and customers," said Howard Tse, President and CEO of Cedarglen Homes. 
• In February 2023, PCL Construction announced that 12 of its projects have been named among ReNew Canada’s Top 100 Infrastructure Projects, granting PCL Platinum status once again on this year’s list. This list included   Cascade Power Project, Alberta and Calgary Cancer Centre, Alberta among 10 others.
   

Canada Construction Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on sector.

Sector Insights:

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

The report has provided a detailed breakup and analysis of the market based on the sector. This includes residential, commercial, industrial, infrastructure (transportation), and energy and utilities construction.

Regional Insights:

• Ontario
• Quebec
• Alberta
• British Columbia
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Ontario, Quebec, Alberta, British Columbia, Others

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Canada Construction Market Report Coverage:

Key Questions Answered in This Report:

• How has the Canada construction market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Canada construction market?
• What is the breakup of the Canada construction market on the basis of sector?
• What are the various stages in the value chain of the Canada construction market? 
• What are the key driving factors and challenges in the Canada construction?
• What is the structure of the Canada construction market and who are the key players?
• What is the degree of competition in the Canada construction market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Canada construction market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Canada construction market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Canada construction industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.