Construction in Taiwan- Growing Popularity and Emerging Trends in the Market

Latest published market study on Construction in Taiwan – Key Trends and Opportunities (H1 2021) Market provides an overview of the current market dynamics in the Construction in Taiwan – Key Trends and Opportunities (H1 2021) space, as well as what our survey respondents—all outsourcing decision-makers—predict the market will look like in 2027. The study breaks market by revenue and volume (wherever applicable) and price history to estimates size and trend analysis and identifying gaps and opportunities.

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Summary
Construction in Taiwan – Key Trends and Opportunities (H1 2021)

Summary

Taiwan’s efficient management of the spread of COVID-19 significantly limited the economic damage inflicted by the pandemic, with Taiwan being one of only five nations in Asia-Pacific to record economic growth in 2020, of 3.1%, and the only advanced nation in the region to record growth. The output of the construction industry in Taiwan is expected to increase by 6.2% in real terms in 2021, a marginal decline following the growth of 6.7% in 2020. Stimulus measures in 2020 totaled approximately TWD410 billion (US$14.8 billion), with initiatives focused primarily on wage support, stimulating consumer spending, promoting domestic tourism and loan support and guarantees. Public works were also accelerated over the course of the pandemic. Following a surge in cases in May 2021, the Taiwan government approved a further TWD420 billion (US$15.1 billion) of stimulus funding.

Investments made under the Forward-Looking Infrastructure Development Program (FLIDP) are likely to be the primary drivers of growth in the coming years. The FLIDP covers a wide range of public infrastructure projects, including sectors such as transport, green energy, digital infrastructure, and water environments. Funding for the initial four-year phase, 2017 to date, totaled TWD420 billion (US$15.1 billion), with the maximum expenditure of the second phase set at TWD510 billion (US$18.4 billion). President Tsai Ing-wen’s ambitious plan to transition Taiwan’s energy mix away from nuclear and coal, towards renewables and LNG, is expected to require significant volumes of investment in solar, offshore wind and LNG receiving terminals. The plan targets an energy mix of 50% LNG, 20% renewables and 30% coal by 2025; as of 2019, renewables accounted for 5.6%, LNG accounted for 33.3%, while coal-fired power generation accounted for 46.1%. The plan also requires a substantial transition away from nuclear energy, which accounted for 11.8% of power generated in 2019. Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest semiconductor foundry, has outlined US$100 billion of capital expenditure over the next three years to increase capacity, following mass shortages over the pandemic; the plan is expected to provide substantial support for growth in the industrial sector.

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Although the outlook for the construction industry in Taiwan looks bright, a downside risk to the industry’s outlook in the short term could arise from the recent rise in COVID-19 cases and a subsequent tightening of restrictions to control the outbreak. While daily case numbers have begun to fall, relatively slow progress on the vaccination program increases the risk of future outbreaks occurring, with the potential imposition of restrictions impacting industry growth. A prolonged drought this year may impact semiconductor production, with water rationing in place since April, however, industry has thus far been exempted from water use restrictions. Water shortages caused by atypical weather, which may become more common as climate change progresses, may negatively impact the output of the industrial sector in the long term, with semiconductor production, one of Taiwan’s main manufacturing outputs, requiring significant volumes of water. In the longer term, Taiwan’s rapidly aging population and low fertility rate pose both upside and downside risks for the construction industry, with the institutional sector standing to benefit and the residential sector likely to suffer.

Construction industry growth is expected to remain strong, with HTF MI forecasts indicating average annual real growth of 3.5% between 2022 and 2025, supported by investment under the FLIDP, increased renewable and LNG capacity and expanding manufacturing output.

This report provides detailed market analysis, information, and insights into Taiwan’s construction industry, including –
– Taiwan’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 Taiwan’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.

Scope

This report provides a comprehensive analysis of the construction industry in Taiwan. It provides –
– Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Taiwan, 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 HTF MI 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 HTF MI critical and actionable insight.
– Assess business risks, including cost, regulatory and competitive pressures.
– Evaluate competitive risk and success factors.

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Table of Contents
1. Construction Outlook
2. Construction Industry: At-a-Glance
3. Latest news and developments
4. Project Analytics
5. Construction Market Data
6. About HTF MI
6.1 Definitions List of Tables
Table 1: Construction Industry Key Data
Table 2: Taiwan, Top Construction Projects by Value
Table 3: Taiw

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