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HomeNewsMalaysia Construction Market size was valued at USD 17.2 Billion in 2020...

Malaysia Construction Market size was valued at USD 17.2 Billion in 2020 and is projected to reach USD 25.81 Billion by 2028, growing at a CAGR of 5.3 % from 2021 to 2028.

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With the ongoing infrastructural projects, the construction industry in Malaysia has significantly increased over the past decade. Additionally, Growth in residential projects propels the private sector and local contractors to increase construction activity in Malaysia. The government’s Malaysia vision 2020 initiated in 1990 to promote the construction and related activities has increased demand for the Malaysian construction sector. These are a few factors that fuel the growth of the construction market in Malaysia.

It has grown significantly and plays a major role in the country’s overall economy, contributing to revenue production, capital accumulation, and job growth, all of which help to sustain Malaysia’s gross domestic product (GDP) and socio-economic growth. Financial aid is a key component in hampering the growth of the construction industry in Malaysia. Construction projects are capital-intensive which discourages private investors to invest. The construction industry faces several difficulties, mostly as a result of the government’s strategy of cutting spending on large infrastructure projects in order to limit the country’s debt.

The market for Malaysia Construction Market is expected to grow in the following years due to the rising increase in infrastructural facilities and green construction. Construction equipment would be in high demand as a result of several transportation, telecommunications, and energy projects. Green construction is prevailing as it conserves natural resources, generates less waste, and provides healthy environments to occupants as compared to the traditional method of constructing buildings.

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