Infrastructure Market in China to grow at a CAGR of 4.65% during 2024-2028
The Infrastructure Market in China is expected to grow at a CAGR of 4.65% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 269.24 billion. The Chinese infrastructure market is experiencing robust growth, fueled by extensive government-led initiatives that prioritize economic development and support various sectors. Notably, the Chinese government has committed over USD13 trillion towards green energy transformation by 2060, aligning with its net-zero greenhouse gas emissions goal by the same year. In the first half of 2022, construction began on 120 expressways and national/provincial highways, totaling over 3,600 kilometers in length, underscoring the government's significant investment in transportation infrastructure.
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Technavio analysts predict that the Direct investment subsegment will lead the Revenue Stream segment during 2024 and 2028 The infrastructure market in China offers a lucrative opportunity for businesses seeking to expand their revenue streams through direct investments. With China's extensive infrastructure development initiatives, such as the Belt and Road Initiative (BRI) and urbanization plans, there is a significant demand for investments. According to the 2023 H1 Investment Report, the BRI has amassed a cumulative investment of USD1.016 trillion. These projects encompass transportation networks, energy infrastructure, and smart city developments, necessitating substantial investments. Direct investments in China's infrastructure sector are on the rise due to the potential for long-term gains, driven by the country's dedication to modernization and sustainable growth. Businesses looking to invest in this sector can benefit from China's commitment to large-scale infrastructure development and the resulting opportunities for revenue generation.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish adoption of smart city technologies
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The Smart Infrastructure Market in China is experiencing rapid growth as the country invests heavily in Disaster Management systems, Video Surveillance, and Smart Traffic Management to ensure Safety and Security. The use of Machine Learning and Data Analytics in Surveillance and Monitoring of Connected Devices is becoming increasingly common in the Internet of Things (IoT) era. China's Digital Technology and ICT sectors are driving the development of Self-Monitoring Energy Networks and Water Networks, enabling real-time Decision Making and improving Mobility and Transportation. The integration of Robotics and Artificial Intelligence is revolutionizing Infrastructure projects, reducing Project Risks and Construction Interruptions. The Chinese government is offering Tax Regimes and Subsidies to promote Sustainable Infrastructure development. However, the market faces challenges from Supply Shocks and Demand Shocks, which can impact Financial Resources and Healthcare services. The infrastructure sector remains a critical area of focus for China as it strives to build a Smart Community and enhance the overall quality of life for its citizens.
According to Technavio, the infrastructure market in China is a significant segment of the global construction and engineering industry. This market encompasses companies specializing in non-residential construction, including engineering service providers and Engineering, Procurement, and Construction (EPC) contractors. Notably, residential construction firms are excluded from this market's scope. Technavio's assessment of the global construction and engineering market size is determined by the consolidated revenue generated by engineering service providers and EPC contractors active in the non-residential sector. Key growth drivers for this market include escalating urban infrastructure investments, with major cities worldwide grappling with increasing populations and heightened demands for transportation, communications, and essential utilities such as water and electricity.
The Infrastructure Market in China is experiencing significant growth, fueled by the adoption of smart city technologies. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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