印度建筑行業(yè)市場前景及投資研究報告-培訓課件外文版2024.6恒大萬科萬達碧桂園

INDUSTRIES

&

MARKETSConstructionindustryinIndiaCHAPTER

01EconomicsignificanceValueofconstructiontoIndia'sGDPfrom2ndquarterof2018to4thquarterof2023(inbillionIndianrupees)ValueofconstructiontoIndia'sGDPQ22018-Q420234,5004,0003,5003,9203,6103,382.833,3503,317.493,2003,048.832,696.473,0002,5002,0001,5001,0002,804.512,577.082,407.922,752.282,747.522,670.742,430.712,251.662,609.88

2,597.282,392.192,582.662,513.542,248.971,314.37Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42018

2018

2018

2019

2019

2019

2019

2020

2020

2020

2020

2021

2021

2021

2021

2022

2022

2022

2022

2023

2023

2023

20233Description:India'sconstructionindustrywasvaluedatover3.5trillionIndianrupeesinfourthquarterof2023.Thiswasasignificantincreasecomparedtopreviousyears,whenthevalueshrankduetothecoronavirus(COVID-19)pandemic.Thecountry`sconstructionandmanufacturingindustrieswereamongtheworsthitatthetime.However,theindustryseemedtorecoverquicklyandreturnedtopre-crisislevelagain.ReadmoreNote(s):India;Q22018toQ42023Source(s):MOSPI;TradingEconomicsContributionofconstructionsectortototaleconomicoutputinIndiafromfinancialyear2017to2022,withforecaststill2030ContributionofconstructionsectortototaleconomicoutputinIndiaFY2017-203012%10.6%10.5%10.5%10.4%10.4%10.4%10.2%10.1%10%9.8%9.7%10%8%6%4%2%0%9.5%9.4%FY2017FY2018FY2020FY2021FY2022FY2023*

FY2024*

FY2025*

FY2026*

FY2027*

FY2028*

FY2029*

FY2030*4Description:Inthefinancialyear2022,thecontributionoftheconstructionsectortothetotaleconomicoutputwas10.5percent.Accordingtotheforecast,thecontributionwaslikelytograduallyreduceto9.4percentby2030.ReadmoreNote(s):India;FY2017

toFY2022;*Forecastedvalue.India'sfinancialyearbeginsinAprilandendsinMarch.Forexample,FY2023startedinApril2022andendedinMarch2023.ReadmoreSource(s):KnightFrankAmountofforeigndirectinvestment(FDI)equityinflowsfortheconstructiondevelopmentsectorinIndiafromfinancialyear2015to2024(inmillionU.S.dollars)FDIequityinflowamountforconstructiondevelopmentsectorinIndiaFY2015-20249007698007006005004003002001000617540422213185146125113105FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024*5Description:Infinancialyear2023,theconstructiondevelopmentsectorinIndiasawaforeigndirectinvestmentequityinflowofapproximately146millionU.S.dollars.Thiswasasignificantincreasecomparedtotheequityinflowsinthepreviousyear,valuedatover125milliondollars.ReadmoreNote(s):India;FY2015toFY2024;*UntilDecember2024India'sfinancialyearbeginsinAprilandendsinMarch.Forexample,FY2018startedinApril2017andendedinMarch2018.Constructiondevelopmentsectorincludestownships,housing[...]

ReadmoreSource(s):DepartmentforPromotionofIndustryandInternalTrade(India)NumberofemployeesinrealestateandconstructionsectorinIndiafromfinancialyear2017tofinancialyear2023(inmillions)EmploymentinrealestateandconstructionsectorinIndiaFY2017-20238070.6770.9668.0670605040302010063.9861.3260.8957.41FY2017FY2018FY2019FY2020FY2021FY2022FY20236Description:Infinancialyear2023,employmentwithintherealestateandconstructionsectorinIndiastoodatnearly71million.Moreover,thenumberofemployeesacrosstherealestateandconstructionsectorwasthelowestinfiscalyear2021atjustabove57.4million.ReadmoreNote(s):India;FY2017toFY2023Source(s):CMIE;TheIndianExpressCHAPTER

02InfrastructureLengthofroadsconstructedinIndiafromfinancialyear2013to2024(inkilometers)LengthofroadsconstructedinIndiaFY2013-202414,00012,00010,00013,32710,85510,45710,33110,2379,8298,2318,0005,7326,0616,0004,0002,00005,2484,4104,260FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024*8Description:Infinancialyear2024,thereweremorethan5.2thousandkilometersofroadbuiltinIndia.Thehighestduringthepresentedperiodwasachievedinthe2021,at13.3thousandkilometers.Yearsfollowing2021sawadecliningtrendinlengthofroadsconstructedannually.ReadmoreNote(s):India;FY2013toFY2024;*UptoNovember2023India'sfinancialyearbeginsinAprilandendsinMarch.Forexample,FY2021startedinApril2020andendedinMarch2021.ReadmoreSource(s):MinistryofRoadTransportandHighways(India);PIBBudgetallocationforroadsandhighwaysdevelopmentacrossIndiafromfinancialyear2017to2023,withanestimateforfinancialyear2024(inbillionIndianrupees)BudgetallocationforroadsandhighwaysdevelopmentIndiaFY2017-20243,0002,704.352,5002,170.272,0001,5001,235.511,0005000892676.5683.7507.5411.9FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024*9Description:TheamountofbudgetallottedforroadsandnationalhighwayscreationacrossIndiawasaround2.2trillionIndianrupeesduringfinancialyear2023.Itwasahugeincreaseincomparisonwiththepreviousyear.Thiswasestimatedtofurtherincreasetomorethan2.7trillionrupeesinthefollowingyear.ReadmoreNote(s):India;FY2017toFY2022;*estimatedvalueSource(s):PRSLegislativeResearch;UnionBudget(India)RoutelengthofrailwaysacrossIndiafromfinancialyear2003to2022(in1,000kilometers)RailwayroutelengthinIndiaFY2003-202268.567.566.565.568.168.0467.9667.4267.3666.9466.6966.0365.8165.4464.664.4664.564.0263.9763.4763.33

63.3363.2763.562.563.2263.12FY2003FY2004FY2005FY2006FY2007FY2008FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY202210Description:Attheendoffiscalyear2022,thelengthofrailwayroutesacrossIndiawasover68thousandkilometers.TherailwaynetworkinIndiawasoneofthelargestintheworld.IndianRailwayshasover12thousandpassengertrainsandoverseventhousandfreighttrainscommutingonadailybasis.ReadmoreNote(s):India;FY2003toFY2022Source(s):IndianRailwaysEstimatedinvestmentforrailwaysinIndiafromfinancialyear2020to2025,byareaofinfrastructure(inbillionU.S.dollars)EstimatedinvestmentforrailwaysinIndiaFY2020-2025,byareaofinfrastructureEstimatedinvestmentinbillionU.S.dollar051015202530354045TrackandsafetyDedicatedfreightcorridorsStationredevelopment424026High-speedandsemi-high-speedrailRollingstock2424SignalsandtelecommunicationRailelectrification18811Description:Atotalof182billionU.S.dollarswereestimatedtobeinvestedforthedevelopmentofrailwayinfrastructureinIndia,outofwhichasignificantshareof42billionU.S.dollarswereallocatedfortrackandsafety.Theaimwastoincreaselogisticsandpassenger-handlingcapacity.Toboosttheprivatesector'sconfidenceforinvestinginrailwaydevelopment,theGovernmentofIndiaprovidedlongerleaseperiods,andparcelsoflandnearrailwaystationsforcommercialdevelopment.

ReadmoreNote(s):India;2019Source(s):DepartmentofEconomicAffairs(India);KearneyMarketshareofconstructionequipmentinIndiainfinancialyear2021,bytypeConstructionequipmentmarketshareinIndiaFY2021,bytype90%80%70%60%50%40%30%20%79%8%10%0%6%6%0.4%Materialprocessingequipment

RoadconstructionequipmentConcreteequipmentMaterialhandlingequipmentEarthmovingequipment12Description:Infinancialyear2021,morethan91.8thousandunitsofconstructionequipmentweresoldinIndia.Amongwhich,earthmovingequipmenthadanoverwhelmingshareof79percent.Atadistantsecondwasmaterialhandlingequipmentwithamarketshareofeightpercent.ReadmoreNote(s):India;FY2021;basedonsalesvolumeSource(s):DeloitteIndia;iCEMACHAPTER

03IndustrialNumberofoperationalSEZsinIndiaasofOctober2022,bystateNumberofoperationalSEZsIndia2022,bystateNumberofoperationalSEZs0102030405060TamilNaduMaharashtraTelanganaKarntakaAndhraPradeshGujaratKeralaUttarPradeshWestBengalHaryanaOdishaMadhyaPradeshPunjab14Description:AsofSeptember2022,theIndianstateofTamilNaduhadthehighestnumberofoperationalSpecialEconomicZones(SEZs),followedbyMaharashtraandTelangana.Therewereatotalof270SEZsinIndia.

ReadmoreNote(s):India;October26,2022Source(s):DepartmentofCommerce(India);DGCI&S;SpecialEconomicZonesinIndiaShareofSpecialEconomicZones(SEZs)acrossIndiaasofSeptember2022,bysectorDistributionofSEZsinIndiaFY2022,bysectorShareofSpecialEconomicZones10%

20%0%30%40%50%60%70%ITandITservices,electronics,hardware,semiconductorsMulti-productOtherEngineeringPharmaceuticalsandchemicalsTextiles,apparelandwoolBiotechnologyNon-conventionalenergyFTWZ*Footwear/leatherAgro/foodprocessingMulti-servicesGemsandjewelry15Description:AsofSeptember2022,theIT/ITES/Electronic/Hardware/SemiconductorSEZsamountedto61percentofthetotalshareofSpecialEconomicZonesthroughoutthecountry.ReadmoreNote(s):India;Sptember9,2022Source(s):DepartmentofCommerce(India);DGCI&S;SpecialEconomicZonesinIndiaShareoftransactioninindustrialandlogisticsrealestateinIndiainfirsthalfof2023,bysegmentShareoftransactioninindustrialandlogisticsrealestateIndia2023,bysegmentOthers4%FMCG6%Pharmaceuticalandhealthcare1%Autoandancillary7%Electronicsandelectricals5%3PL43%Engineeringandmanufacturing16%Retail9%E-commerce9%16Description:Infirsthalfof2023,intheindustrialandlogisticsrealestatesectorthirdpartylogisticshadthehighestshareoftransactionat43percentofthetotalmarket.Itwasfollowedbyengineeringandmanufacturingwithadistant16percent.ReadmoreNote(s):India;H12023Source(s):CBREGroupShareofwarehousingtransactionsacrossIndiainfinancialyear2023,bysectorShareofwarehousingtransactionsinIndiaFY2023,bysectorShareoftransactions20%0%5%10%15%25%30%35%40%39%45%3PLOthersectors**Retail30%13%E-commerceMiscellaneous*FMCD7%5%4%FMCG3%17Description:Infiscalyear2023,thethird-partylogistics(3PL)constitutedthelargestshareofwarehousingtransactionsinIndia,accountingfor39percent.ThesizeoftheIndianwarehousingmarketwasexpectedtobearound20billionU.S.dollarsby2025.

ReadmoreNote(s):India;FY2023;*Miscellaneouscategoryincludesservicessuchastelecom,realestate,documentmanagement,agriculturalwarehousingandpublishing.**Othersectorsincludeallmanufacturingsectors(automobile,electronics,[...]

ReadmoreSource(s):KnightFrankCHAPTER

04BuildingconstructionResidentialpropertylaunchesacrossIndiafrom2013to2023(in1,000s)ResidentiallaunchesIndia2013-2023450420.1140035030025020015010050350.75328.13319.66244.07232.38223.33182.21175.88146.632020103.572017020132014201520162018201920212022202319/statistics/1032820/india-residential-launchesIn2023,over350thousandhousingunitswerelaunchedontheresidentialmarketacrossIndia.Eventhoughthereisabigdemandforhousinginthecountry,residentiallauncheshavebeenonacomparativelyhighleveloverthepastfewyears.

ReadmoreNote(s):India;2013to2023Source(s):KnightFrank(KnightFrankResearch)NumberofaffordablehousingunitscompletedinIndiaasofNovember2023,bystateNumberofcompletedaffordablehousingunitsinIndia2023,bystateNumberofcompletedhousingunits0200,000400,000600,000800,0001,000,0001,200,0001,400,0001,600,000UttarPradeshGujaratAndhraPradeshMaharashtraStatesMadhyaPradeshTamilNadu1,337,607891,599864,743824,557728,700548,882WestBengalKarnataka378,564329,330TelanganaChhattisgarhRajasthan224,339201,534175,509135,955133,237OdishaJharkhand20Description:AsofNovember2023,therewereover1.3millionhousingunitscompletedacrossthenorthIndianstateofUttarPradeshwithinthe"housingforall"(HFA)programsince2014.TheHFA-programispartofthePradhanMantriAwasYojana-UrbanschemeoftheIndiangovernment.ReadmoreNote(s):India;November20,2023Source(s):MoHUAYear-on-yearchangeofofficespacetransactionvolumeinIndiaduring2023,bycityGrowthofofficespacetransactionsIndia2023,bycityyear-on-yearchange6%0%2%4%8%10%12%14%BengaluruChennai12.5%10.8%NationalCapitalRegionHyderabad10.1%8.8%MumbaimetropolitanregionPune7.4%6.7%Ahmedabad1.8%Kolkata1.4%21Description:In2023,Bengalururecordedanincreaseof12.5percentcomparedtothepreviousyearinofficespacetransactionsinIndia'sofficemarket.Furthermore,Chennairecordedachangeof10.8percent,hence,beingthesecondhighestamongsttier1Indiancities.ReadmoreNote(s):India;2023Source(s):KnightFrank(KnightFrankResearch)ShareofretailrealestateabsorptioninIndiainthethirdquarterof2023,byleadingcityShareofretailrealestateabsorptionQ32023,byleadingcity40%35%35%30%25%20%15%10%5%24%14%11%0%BangalorePuneHyderabadDelhi-NCR22Description:Inthethirdquarterof2023,Bangaloreledothermetropolitancitiesintheabsorptionofretailrealestatepropertiesat35percent.Delhi-NCRhadthelowestabsorptionrateintheobservedperiodat11percent.

ReadmoreNote(s):India;Q32023Source(s):CBREGroupCHAPTER

05ConstructionmaterialsConsumptionofconstructionmaterialsinIndiain2021withestimateof2027(inbillionU.S.dollars)ConstructionmaterialsconsumptioninIndia2021-202725021220014415010050020212027*24Description:In2027,itwasestimatedthattheoverallconstructionmaterialsconsumptioninIndiawouldreach212billionU.S.dollars.ItwouldcreatehugeopportunitiesfortheB2BmaterialsmarketinIndia.ItwasestimatedtheB2Bmaterialsmarketwouldreachonetrilliondollarsduringthesameperiod.ReadmoreNote(s):India;2021;excludeironandsteel;*estimateReadmoreSource(s):Avendus;IndiaBrandEquityFoundation;MOSPIShareofconstructionmaterialsconsumptioninIndiain2022,bytypeShareofconstructionmaterialsconsumptioninIndia2022,bytypeShareofconsumption0%5%10%15%20%25%30%35%40%45%50%Kucha,servicesandetc.Cement47%22%FixtureandfittingsBricksandtiles11%9%TimerandroundwoodBitumenandglass6%5%25/statistics/1396256/india-share-of-construction-materials-consumption-by-typeIn2022,kutcha,servicesandetc.hadthebiggestshareintheconstructionmaterialsmarketat47percent.Itwasfollowedbycement,at22percent.Duringthesameperiod,theconstructionconsumptioninIndiawasaround144billionU.S.dollars.

ReadmoreNote(s):India;2022;excludeironandsteelSource(s):Avendus;InvestIndia;MOSPIProductionvolumeofcementinIndiafromfinancialyear2008to2021withaforecastuntil2022(inmillionmetrictons)CementproductionvolumeinIndiaFY2008-2021450400350300381353329329291274273270.04255.83248.2325020015010050230.49216206.6186.9174.30FY2008

FY2009

FY2010

FY2011

FY2012

FY2013

FY2014

FY2015

FY2016

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022*26Description:TheproductionofcementinIndiastartedin1889byacompanybasedinKolkata.Intheearlynineteenthcentury,theindustrystartedtakinganorganizedstanceandiscurrently,thesecondlargestproducerofcementworldwideafterChina.TheproductionvolumeofcementacrossthesouthAsiancountrywasestimatedatabout381millionmetrictonsinfinancialyear2022.Thesectorencompassesatotalofover450smallandlargecementplants.

ReadmoreNote(s):India;FY2008toFY2022;*Estimates.India'sfinancialyearbeginsinAprilandendsinMarch.Forexample,FY2020startedinApril2019andendedinMarch2020.ReadmoreSource(s):HDFCSecurities;IndiaBrandEquityFoundationProductionvolumeofcrudesteelinIndiafromfinancialyear2012to2023(inmillionmetrictons)CrudesteelproductioninIndiaFY2012-2023140120100125.32120.01110.92108.5103.13102.4997.9489.7988.9881.6978.4280604020074.29FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY202327Description:TheproductionvolumeofcrudesteelinIndiaattheendofthefiscalyear2023amountedto125millionmetrictons.Aslightincreaseintheproductionvolumewaswitnessedincomparisonwiththepreviousfinancialyear.ReadmoreNote(s):India;FY2012toFY2023Source(s):IndiaBrandEquityFoundation;JPC(India);MOS(India)CHAPTER

06IndustryplayersLeadingconstructioncompaniesbymarketcapitalizationinIndiain2024(inbillionIndianrupees)LeadingconstructioncompaniesbymarketcapitalizationIndia2024MarketcapitalizationinbillionIndianrupees200

3000100400500600RailVikasNCC507.7150.53GRInfra118.69103.06PNCInfratechManInfra70.8168.953.25KNRConstructHindConstrITDCementationSanghviMoversJKumarInfra50.0246.3645.4729Description:AsofMarch2023,publicsectorundertakingRailVikasNigamhadbeentheleadingIndiancompanyforinfrastructureconstructionattheNationalStockExchange(NSE)withamarketcapitalizationofover507billionIndianrupees.ItwasfollowedbyNCCLtd.andGRInfraprojects.ReadmoreNote(s):India;asofMarch14,2024Source(s):MoneycontrolLeadingresidentialandcommercialrealestatecompaniesasofMarch2024,bymarketcapitalization(inbillionIndianrupees)LeadingrealestatecompaniesbymarketcapitalizationMarch2024MarketcapitalizationinbillionIndianrupees05001,0001,5002,0002,500DLFMacrotechDevGodrejPropOberoiRealtyPhoenixMillsPrestigeEstateNBCC(India)BrigadeEntSobha2,080.871,019.23603.07481.99472.96429.6208.98195.22123.39116.89DBRealty30Description:AsofDecember6,2023,theDelhiLand&FinanceLimited(DLF)leadthelistofIndianrealestatecompaniesforresidentialandcommercialcomplexeswithamarketcapitalizationofover2,080billionIndianrupees.TheNationalStockExchange(NSE)inNewDelhiincludes43realestatedevelopersunderthiscategory.TherealestateindustryisoneofthefastestgrowingsectorsinIndiaandwasestimatedtoreachatotalvalueofonetrillionU.S.dollarsby2030.

ReadmoreNote(s):India;asofMarch13,2024;NSEfiguresSource(s):MoneycontrolLeadingengineeringcompaniesbasedonmarketcapitalizationinIndiaasofDecember2023(inbillionIndianrupees)LeadingengineeringcompaniesbasedonmarketcapitalizationinIndia2023MarketcapitalizationinbillionIndianrupees0100200300400500600L&TTechnologyServicesCraftsman523.38109.4189.0667.2849.2329.5523.24EngineersIndiaISGECHeavyEngineeringKennametalIndiaDivgiTorqtransPittiEngineeringLokeshMachinesPritikaAuto5.523.47AlphageoIndia

1.7331Description:L&TtechnologyserviceswastheleadingIndianengineeringcompanybasedonmarketcapitalizationwithapproximately524.4billionIndianrupeesasofDecember2023.ThisisasubsidiaryoftheconglomerateLarsenandTurboanditsheadquarteredinVadodara.EngineersIndiawasthesecondleadingengineeringcompanyinthecountryduringthesameperiod.ReadmoreNote(s):India;December2023Source(s):MoneycontrolLeadingminingandmineralcompaniesinIndiain2023,basedonrevenue(inmillionU.S.dollars)Lea