Base Year
Historical Year
Forecast Year
The Indian construction market reached USD 687.38 billion in 2023. The market is projected to grow at a CAGR of 8.6% between 2024 and 2032, reaching almost USD 1447.92 billion by 2032.
The Indian government’s focus on boosting socio-economic development has led to initiatives like the Parvatmala project, under which the construction of bridges in major pilgrimage sites in Uttarakhand has received a big boost. Moreover, major metropolitan cities like Mumbai are also expected to attract investments worth $60 billion over the next 5-7 years in major infrastructure development projects that can boost connectivity between the mainland and the island region of Mumbai and turn the city into a major IT hub.
Roadway development projects are expected to ease the problem of traffic congestion in Mumbai, as the city has 2000 cars for each km of road . The expansion of the luxury real estate sector in India, driven by the increasing demand for premium living spaces is expected to drive the market development in the coming years.
Rising infrastructural investments have spurred the demand for TMT (thermos-mechanically treated) bars which are durable, earthquake-resistant, and high-strength building reinforcement materials. TMT bars accounted for nearly 42% of India’s overall steel production in 2023. The development of advanced construction technologies and sustainable infrastructure is expected to drive the demand for cost-effective TMT bars and rods over the forecast period.
Indian Construction Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by End-Use
Market Breakup by Region
Based on end-use, the market is divided into commercial, residential, industrial, and infrastructure. Though all market segments are expected to witness substantial growth in the forecast period, the infrastructure segment is expected to account for a major market share in the coming years. This is because of increasing government investments in the sector, which are aimed at attracting new businesses and boosting economic growth.
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Major players in the market are adopting innovative technologies like BIM and AI to enhance the efficiency of construction activities.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by End-Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at nearly USD 687.38 billion in 2023.
The market is projected to grow at a CAGR of 8.6% between 2024 and 2032.
The market is assessed to witness a healthy growth in the forecast period to reach around USD 1447.92 billion in 2032.
TMT is a crucial reinforcement material for India’s construction sector.
Yes, airport expansion one of the key trends facilitating the market growth.
The major end uses of construction include commercial, residential, industrial, and infrastructure.
The different regions in the market include North India, East and Central India, West India, and South India.
The key market players are Larsen & Toubro Limited, Reliance Infrastructure Ltd., Punj Lloyd Limited, Shapoorji Pallonji Co. Pvt. Ltd, GMR Infrastructure Limited, Tata Projects, Gammon India Limited., KEC International Limited, and Welspun Group, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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