Please Wait.....
Report
Japan Construction - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 120 Pages I Mordor Intelligence
The Japan Construction Market size is estimated at USD 609.27 billion in 2024, and is expected to reach USD 716.66 billion by 2029, growing at a CAGR of 3.30% during the forecast period (2024-2029).
Key Highlights
-The construction industry is an important pillar of the Japanese economy that generated around 5.5% of the gross domestic product (GDP) in 2021. Reconstruction following the Great East Japan Earthquake and the Tokyo Olympics have contributed to the industry's general rising trend over the past 10 years. While there are more than 470,000 registered construction firms in Japan, the industry is dominated by Super Zenecon, a group of five large general contractors, namely Obayashi Corporation, Tasei Corporation, Kajima Corporation, Shimizu Corporation, and Taneka Corporation. They have combined annual sales of more than JPY 1 trillion and operate in various industries, including construction, architectural design, and R&D.
-The Japanese construction industry has recovered during the past 10 years from a period of stagnation that had lasted since the economic bubble burst in the 1990s. Recovery was aided in part by the reconstruction efforts that followed the Great East Japan Earthquake in 2011. The 2021 Tokyo Olympic Games served as a major demand generator in recent years. Both the Chuo Shinkansen maglev line's development and other building projects slated for the Osaka World Expo 2025 are anticipated to have a similar effect.
-The government will invest around JPY 15 trillion (USD 0.12 trillion) as part of its five-year acceleration plan for disaster prevention, mitigation, and national resilience, which is likely to boost the demand for construction work in the coming years.
-Strong international demand for Japanese exports and the record JPY 55.7 trillion (USD 490 billion) fiscal stimulus package approved by the government are aiding the country's construction production. The government of Japan is investing JPY 774 billion (USD 6.8 billion) in the semiconductor sector, supporting growth and prioritizing the expansion of local production of next-generation semiconductors.
Japan Construction Market Trends
Increase in Infrastructure Developments Boosting the Market
The urban infrastructure of Japan is among the greatest in the world. Japan's strategy for infrastructure development was in response to many stages, each emphasizing the significance of striking a balance between economic growth and sustainability. In August 2022, the Japanese government ordered the construction of a new nuclear plant. Notably, the construction and development of the new nuclear plant will help the country reduce its reliance on energy imports amid the global energy crunch.
Tokyo is considering partnering with India on international infrastructure development initiatives. Joint planning, design, and implementation of infrastructure projects in nations like Nepal, where both countries are already engaged in projects, might aid New Delhi and Tokyo in maximizing their effect. India's less innovative and more affordable digital solutions are suitable for developing nations, especially those in Southeast Asia. Infrastructure development has been a priority for Japanese businesses and government agencies in East Africa, Vietnam, Indonesia, and Cambodia.
Beijing has increased its influence in the area by using infrastructural assistance due to China's Belt and Road Initiative. However, claims of "debt-trap diplomacy" have plagued Chinese sponsorship. The four-nation Quad established a working group on infrastructure since it is now a crucial aspect of the growing diplomatic rivalry in the area.
Government Funding is Being Used as a Development Driver for Japan's Residential Construction Sector
The Japanese government has been providing housing subsidies to families with children for the past few years. In 2022, this tendency was anticipated to intensify. The land ministry intends to expand the lineup of measures after establishing a variety of policies and measures, such as tax incentives for individuals who take out mortgages to help with home purchases, to ease the financial burden of home ownership in Japan.
The government took action in 2021 to help families with children buy homes by providing incentives for brand-new construction. Notably, the government offered incentives for the scheme that ranged from JPY 600,000 to JPY 1,000,000 per unit. The initiative began in November 2021 after receiving financing of JPY 54.2 billion (USD 0.42 billion) under the fiscal 2021 additional budget.
The government allocated an additional JPY 60 billion (USD 0.46 billion) for the program in 2022. The government also extended the deadline from the end of October 2022 to the end of March 2023 due to the expectation that 120,000 applications will be submitted for the subsidies. Over the next 3-4 years, these government initiatives may increase the expansion of the residential building sector by reducing the demand from Japanese homebuyers.
Japan Construction Industry Overview
The market is fragmented and expected to grow during the forecast period due to the increase in construction investments and upcoming major projects in the country. However, the market provides chances for small and medium-sized businesses due to the rising government spending in the industry. During the forecast period, the Japanese construction market has the potential for expansion, which may increase market competitiveness.
The key players in the Japanese construction market are Obayashi Corp., Mitsubishi Heavy Industries Ltd, Nippon Concrete Industries, Takada Corporation, The Zenitaka Corp., Sumitomo Mitsui Construction Co. Ltd, and Toshiba Corp.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Current Market Scenario
4.5 Value Chain/Supply Chain Analysis
4.6 Technological Innovations in the Construction Sector
4.7 Government Regulations and Initiatives
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Sector
5.1.1 Residential
5.1.2 Commercial
5.1.3 Industrial
5.1.4 Infrastruture (Transportation)
5.1.5 Energy and Utilities
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Obayashi Corp.
6.2.2 Mitsubishi Heavy Industries Ltd
6.2.3 Nippon Concrete Industries
6.2.4 Takada Corporation
6.2.5 The Zenitaka Corp.
6.2.6 Sumitomo Mitsui Construction Co. Ltd
6.2.7 Kajima Corp.
6.2.8 Toshiba Corp.
6.2.9 Mori Building Co. Ltd
6.2.10 Shimizu Corp.*
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 APPENDIX
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security