Construction in Myanmar - Key Trends and Opportunities to 2023

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Date: 06-Jun-2019
No. of pages: 53
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Construction in Myanmar - Key Trends and Opportunities to 2023

Summary

Myanmar's construction industry output grew by 7% in real terms¬ in 2018, following an average annual growth of 9% during the preceding four years. This increase can be attributed to public and private sector investments in transport infrastructure, energy and housing projects, positive developments in economic conditions and improvement in investor confidence. Policy reforms related to foreign direct investment (FDI) and a recovery in exports also supplemented the growth momentum.

The industry's output value is expected to continue to expand in real terms over the forecast period (2019-2023), driven by the government's plans to upgrade the country's transport infrastructure. The government's continued investment in transport infrastructure, energy and residential projects under the flagship programs such as the National Electrification Plan (NEP), National Education Strategic Plan (NESP) and the Million Homes Plan is expected to drive the growth of the industry over the forecast period. The government's efforts to attract FDI through the Myanmar Investment Promotion Plan (MIPP) will also boost the construction industry. The government's aim to enhance the electricity supply across the country is also expected to support investment in energy infrastructure projects, which will in turn fuel growth in the industry.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 8.6% over the forecast period.

GlobalData's Construction in Myanmar - Key Trends and Opportunities to 2023 report provides detailed market analysis, information and insights into Myanmar's construction industry, including -

- Myanmar's construction industry's growth prospects by market, project type and construction activity

- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Myanmar's construction industry

- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Key Highlights

- GlobalData expects the residential construction market to retain its leading position over the forecast period and account for 33.3% of the industry's total value in 2023, driven by the government's aim to provide affordable houses to the country's middle- and low-income citizens. The government aims to build one million affordable housing units by 2030 under the Million Homes Plan, of which 80% will be developed by investments from the private sector.

- Forecast-period growth in the energy and utilities construction market will be supported by the government's efforts to increase the country's energy production capacity in line with the growing demand. The government is building four liquefied natural gas (LNG) power plants with a total investment of MMK7.4 trillion (US$5.2 billion), which will increase the electricity production from 3.0GW in 2018 to 6.1GW by 2021.

- GlobalData expects the infrastructure construction market to record a forecast-period CAGR of 16.7% in nominal terms, driven by the government's continuous investments in transport infrastructure development, with an aim to reduce the country's infrastructure gap. According to the Asian Development Bank (ADB), MMK172.5 trillion (US$120.0 billion) in investment will be required until 2030 to bridge this gap. The ADB will invest MMK1.2 trillion (US$815.3 million) on road construction and rehabilitation during the period of 2019-2021.

- Under the National Education Strategic Plan (NESP), the government plans to increase access to pre-schools and kindergarten education across the country and strengthen higher education quality. Under the first phase (2016-2021) of NESP, the government plans to spend MMK15.3 trillion (US$11.2 billion) by 2021. In March 2019, in order to support the first phase of the NESP, the government launched the education budget support program in collaboration with the European Union (EU), under which the EU will invest MMK317.7 billion (US$221 million) to improve the education sector in the country by 2023.

- The total construction project pipeline in Myanmar - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at MMK178.2 trillion (US$124.7 billion). The pipeline, which includes all projects from pre-planning to execution, has a relatively high share of early-stage projects, with 74.6% of the pipeline value being in projects in the pre-planning and planning stages as of June 2019.

Scope

This report provides a comprehensive analysis of the construction industry in Myanmar. It provides -

- Historical (2014-2018) and forecast (2019-2023) valuations of the construction industry in Myanmar, featuring details of key growth drivers.

- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

- Listings of major projects, in addition to details of leading contractors and consultants

Reasons to buy

- Identify and evaluate market opportunities using GlobalData's standardized valuation and forecasting methodologies.

- Assess market growth potential at a micro-level with over 600 time-series data forecasts.

- Understand the latest industry and market trends.

- Formulate and validate strategy using GlobalData's critical and actionable insight.

- Assess business risks, including cost, regulatory and competitive pressures.

- Evaluate competitive risk and success factors.

Construction in Myanmar - Key Trends and Opportunities to 2023

Table of Contents
1 Executive Summary
2 Construction Outlook: At-a-glance
3 Latest News and Indicators
4 Key Drivers and Risks
4.1. Economic Performance
4.2. Political Environment
4.3. Demographics
4.4. Risk Profile
5 Construction Outlook
5.1. All Construction
5.1.1. Outlook
5.1.2. Project analytics
5.2. Commercial Construction
5.2.1. Outlook
5.2.2. Project analytics
5.3. Industrial Construction
5.3.1. Outlook
5.3.2. Project analytics
5.4. Infrastructure Construction
5.4.1. Outlook
5.4.2. Project analytics
5.5. Energy and Utilities Construction
5.5.1. Outlook
5.5.2. Project analytics
5.6. Institutional Construction
5.6.1. Outlook
5.6.2. Project analytics
5.7. Residential Construction
5.7.1. Outlook
5.7.2. Project analytics
6 Key Industry Participants
6.1. Contractors
6.2. Consultants
7 Appendix
7.1. What is this Report About?
7.2. Definitions
8 About GlobalData
8.1. GlobalData at a Glance
8.2. GlobalData Construction
8.3. Disclaimer
8.4. Contact Us

List of Tables
Table 1: Construction Outlook
Table 2: Myanmar, Key Economic Indicators
Table 3: Myanmar, Construction Output Value (nominal, MMK Billion)
Table 4: Myanmar, Construction Output Value (nominal, US$ Million)
Table 5: Myanmar, Top Commercial Construction Projects by Value
Table 6: Myanmar, Top Industrial Construction Projects by Value
Table 7: Myanmar, Top Infrastructure Construction Projects by Value
Table 8: Myanmar, Top Energy and Utilities Construction Projects by Value
Table 9: Myanmar, Top Institutional Construction Projects by Value
Table 10: Myanmar, Top Residential and Mixed-Use Construction Projects by Value
Table 11: Myanmar, Key Contractors
Table 12: Myanmar, Key Consultants
Table 13: GlobalData Construction Market Definitions
Table 14: Construction Risk Index Ratings and Scores

List of Figures
Figure 1: Key Markets, Construction Output Growth Matrix and Risk Matrix
Figure 2: Myanmar, Construction Projects Pipeline by Sector (MMK Trillion)
Figure 3: Myanmar, Risk Profile
Figure 4: Myanmar, Risk Comparison
Figure 5: Myanmar, Construction Output Value (Real, US$ billion, 2017 prices and exchange rate)
Figure 6: Myanmar, Construction Output Value, Growth Matrix
Figure 7: Myanmar, Construction Output Value, by Sector (MMK Billion), 2014-2023
Figure 8: Myanmar, Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 9: Myanmar, Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 10: Myanmar, Commercial Construction Output by Project Type (MMK Billion), 2014-2023
Figure 11: Myanmar, Commercial Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 12: Myanmar, Commercial Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 13: Myanmar, Industrial Construction Output by Project Type (MMK Billion), 2014-2023
Figure 14: Myanmar, Industrial Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 15: Myanmar, Industrial Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 16: Myanmar, Infrastructure Construction Output by Project Type (MMK Billion), 2014-2023
Figure 17: Myanmar, Infrastructure Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 18: Myanmar, Infrastructure Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 19: Myanmar, Energy and Utilities Construction Output by Project Type (MMK Billion), 2014-2023
Figure 20: Myanmar, Energy and Utilities Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 21: Myanmar, Energy and Utilities Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 22: Myanmar, Institutional Construction Output by Project Type (MMK Billion), 2014-2023
Figure 23: Myanmar, Institutional Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 24: Myanmar, Institutional Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 25: Myanmar, Residential Construction Output by Project Type (MMK Billion), 2014-2023
Figure 26: Myanmar, Residential Construction Projects Pipeline, Value by Stage (MMK Billion)
Figure 27: Myanmar, Residential Construction Projects Pipeline, Projected Annual Spending by Stage (MMK Billion), 2018-2023
Figure 28: Myanmar, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 29: Myanmar, Headquarters of Foreign Contractors (% of Project Pipeline with Foreign Contractor)
Figure 30: Myanmar, Headquarters of Key Consultants (% of Total Project Pipeline)
Figure 31: Myanmar, Headquarters of Foreign Consultants (% of Project Pipeline with Foreign Consultants)
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