Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Vietnam Construction Market Report Overview

The Vietnam construction market size was $95.8 billion in 2023. The market will achieve an AAGR of more than 6% during 2025-2028. The government’s focus on the development of rail and road transport, renewable energy generation, and affordable housing will drive the market growth during the forecast period. A continued improvement in the tourism activity will also support the market growth.

Vietnam Construction Market Outlook, 2023-2028 ($ Billion)

Vietnam Construction Market Outlook, 2023-2028 ($ Billion)

Buy the Full Report to Know More about the Vietnam Construction Market Forecast

Download a Free Report Sample

The Vietnam construction market research report gives a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence the Vietnamese construction market growth in the coming years.

Market Size (2023) $95.8 billion
AAGR (2025-2028) >6%
Forecast Period 2023-2028
Historical Period 2019-2022
Key Sectors ·        Commercial Construction

·        Industrial Construction

·        Infrastructure Construction

·        Energy and Utilities Construction

·        Institutional Construction

·        Residential Construction

Key Contractors ·        Hyundai Engineering & Construction Co Ltd

·        Hoa Binh Construction Group

·        Civil Engineering Construction Corporation No. 4 Ltd

·        Coteccons Group

·        Civil Engineering Construction Corporation No. 6

Key Consultants ·        Transport Engineering Design Inc

·        Japan International Cooperation Agency

·        ID&E Holdings

·        Tedi South

·        Korea International Cooperation Agency

Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

Vietnam Construction Market Segmentation by Sectors

The residential construction sector accounted for the highest market share in the Vietnam construction market in 2023

The key sectors in the Vietnam construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The ongoing recovery in the tourism and services sectors along with investment in leisure and hospitality, retail, office, and data center buildings will drive the commercial sector’s growth during the forecast period. Another factor driving the market growth is the ‘Tourism Development Program,’ under which the government aims to attract foreign and domestic tourists.

Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. Investment in semiconductor plants and industrial parks and an expected rise in foreign direct investment in the manufacturing sector will drive the sector’s growth during the forecast period.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government’s efforts to develop the country’s road, rail, and other public transport infrastructure will support the infrastructure sector’s output during the forecast period.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The government’s focus on the development of energy infrastructure as part of Vietnam’s Eight Power Development Plan (PDP8) for the period of 2021-2030 will drive the sector growth during 2025-2028.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Public and private investment in the development of the education and healthcare sectors will fuel the growth of the institutional construction sector during the forecast period.

Residential construction: The project types in this sector include single-family housing and multi-family housing. Investment from private and public sources will aid the development of affordable housing as a part of the government’s effort to build social housing apartments by 2030. This investment, in turn, will support the residential sector output over the forecast period.

Vietnam Construction Market Analysis by Sectors, 2023 (%)

Vietnam Construction Market Analysis by Sectors, 2023 (%)

Buy the Full Report for more Sector Insights into the Vietnam Construction Market

Download a Free Report Sample

Vietnam Construction Market - Competitive Landscape

Hyundai Engineering & Construction Co Ltd emerged as the leading contractor and Transport Engineering Design Inc as the leading consultant in the Vietnam construction market in 2023

A few of the leading contractors in the Vietnam construction market are:

  • Hyundai Engineering & Construction Co Ltd
  • Hoa Binh Construction Group
  • Civil Engineering Construction Corporation No. 4 Ltd
  • Coteccons Group
  • Civil Engineering Construction Corporation No. 6

Domestic contractors account for most of the project pipeline in the Vietnamese construction market.

Vietnam Construction Market Analysis by Contractors, 2023 (%)

Vietnam Construction Market Analysis by Contractors, 2023 (%)

Buy the Full Report to Know More about the Contractors in the Vietnam Construction Market

Download a Free Report Sample

A few of the leading consultants in the Vietnam construction market are:

  • Transport Engineering Design Inc
  • Japan International Cooperation Agency
  • ID&E Holdings
  • Tedi South
  • Korea International Cooperation Agency

Consultants with headquarters outside Vietnam are involved in most of the project pipeline by value.

Vietnam Construction Market Analysis by Consultants, 2023 (%)

Vietnam Construction Market Analysis by Consultants, 2023 (%)

Buy the Full Report to Know More about Consultants in the Vietnam Construction Market

Download a Free Report Sample

Vietnam Construction Market - Latest Developments

  • Among the largest commercial projects currently in the pipeline is the Bien Hoa Aqua Smart City project. This project includes the construction of a shopping mall, indoor and outdoor sports complexes, a five-star marina, a hotel, and other related facilities.
  • Among the largest industrial projects currently in the pipeline is the Automobile and Seaport Complex. It is currently in the execution stage and includes the construction of an automobile parts manufacturing plant and a seaport complex.

Segments Covered in the Report

Vietnam Construction Sectors Outlook (Value, $ Billion, 2019-2028)

  • Commercial Construction
  • Industrial Construction
  • Infrastructure Construction
  • Energy and Utilities Construction
  • Institutional Construction
  • Residential Construction

Scope

This report provides:

  • A comprehensive analysis of the construction industry in Vietnam.
  • Historical and forecast valuations of the construction industry in Vietnam, featuring details of key growth drivers.
  • Segmentation by sector 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.

Table of Contents

  • 1. Executive Summary
  • 2. Construction Industry: At-a-Glance
  • 3. Context

    • 3.1. Economic Performance
    • 3.2. Political Environment and Policy
    • 3.3. Demographics
    • 3.4. Risk Profile

  • 4. Construction Outlook

    • 4.1. All Construction

      • 4.1.1. Outlook
      • 4.1.2. Latest news and developments
      • 4.1.3. Construction Projects Momentum Index

    • 4.2. Commercial Construction

      • 4.2.1. Outlook
      • 4.2.2. Project analytics
      • 4.2.3. Latest news and developments

    • 4.3. Industrial Construction

      • 4.3.1. Outlook
      • 4.3.2. Project analytics
      • 4.3.3. Latest news and developments

    • 4.4. Infrastructure Construction

      • 4.4.1. Outlook
      • 4.4.2. Project analytics
      • 4.4.3. Latest news and developments

    • 4.5. Energy and Utilities Construction

      • 4.5.1. Outlook
      • 4.5.2. Project analytics
      • 4.5.3. Latest news and developments

    • 4.6. Institutional Construction

      • 4.6.1. Outlook
      • 4.6.2. Project analytics
      • 4.6.3. Latest news and developments

    • 4.7. Residential Construction

      • 4.7.1. Outlook
      • 4.7.2. Project analytics
      • 4.7.3. Latest news and developments

  • 5. Key Industry Participants

    • 5.1. Contractors
    • 5.2. Consultants

  • 6. Construction Market Data
  • 7. Appendix

    • 7.1. What is this Report About?
    • 7.2. Definitions
    • 7.3. CRI Methodology

  • 8. About GlobalData
  • 9. Contact Us

Table

Table 1: Construction Industry Key Data

Table 2: Vietnam, Key Economic Indicators

Table 3: Vietnam, Commercial Construction Output by Project Type (Real % Change), 2019–28

Table 4: Vietnam, Top Commercial Construction Projects by Value

Table 5: Vietnam, Industrial Construction Output by Project Type (Real % Change), 2019–28

Table 6: Vietnam, Top Industrial Construction Projects by Value

Table 7: Vietnam, Infrastructure Construction Output by Project Type (Real % Change), 2019–28

Table 8: Vietnam, Top Infrastructure Construction Projects by Value

Table 9: Vietnam, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28

Table 10: Vietnam, Top Energy and Utilities Construction Projects by Value

Table 11: Vietnam, Institutional Construction Output by Project Type (Real % Change), 2019–28

Table 12: Vietnam, Top Institutional Construction Projects by Value

Table 13: Vietnam, Residential Construction Output by Project Type (Real % Change), 2019–28

Table 14: Vietnam, Top Residential Construction Projects by Value

Table 15: Vietnam, Key Contractors

Table 16: Vietnam, Key Consultants

Table 17: Vietnam, Construction Output Value (Real, $ Million)

Table 18: Vietnam, Construction Output Value (Nominal, VND Trillion)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

Figures

Figure 1: South and South-East Asia, Construction Output (Real % Change), 2022–28

Figure 2: Vietnam, Construction Output by Sector (Real % Change), 2022–24 and 2025–28

Figure 3: Vietnam, Risk Summary

Figure 4: Vietnam, Risk Regional Comparison

Figure 5: Vietnam, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2019–28

Figure 6: Vietnam, Construction Output Value, by Sector (Real, $ Million), 2019–28

Figure 7: Vietnam, Construction Value Add, 2010 Constant Prices (VND Billion)

Figure 8: Vietnam, Total Credit Outstanding to Construction Sector (VND Trillion)

Figure 9: Vietnam, Construction Projects Momentum Index

Figure 10: South-East Asia, Construction Projects Momentum Index

Figure 11: Vietnam, Commercial Construction Output by Project Type (Real, $ Million), 2019–28

Figure 12: Vietnam, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 13: Vietnam, Service Sector Value Add, 2010 Constant Prices (VND Billion)

Figure 14: Vietnam, Total Retail Sales of Consumer Goods and Services (VND Trillion)

Figure 15: Vietnam, Total International Visitors (In Thousands)

Figure 16: Vietnam, Industrial Construction Output by Project Type (Real, $ Million), 2019–28

Figure 17: Vietnam, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 18: Vietnam, Total Credit Outstanding to Industrial Sector (VND Trillion)

Figure 19: Vietnam, Manufacturing Value Add, 2010 Constant Prices (VND Billion)

Figure 20: Vietnam, Exports of Goods ($ Billion)

Figure 21: Vietnam, Industrial Production Index, % Change YoY (2015=100)

Figure 22: Vietnam, Infrastructure Construction Output by Project Type (Real, $ Million), 2019–28

Figure 23: Vietnam, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 24: Vietnam, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28

Figure 25: Vietnam, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 26: Vietnam, Institutional Construction Output by Project Type (Real, $ Million), 2019–28

Figure 27: Vietnam, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 28: Vietnam, Education and Healthcare Value add (At 2010 Constant Prices, In VND Billion)

Figure 29: Vietnam, Residential Construction Output by Project Type (Real, $ Million), 2019–28

Figure 30: Vietnam, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 31: Vietnam, Real Estate Business Value Add, 2010 Constant Prices (VND Billion)

Figure 32: Vietnam, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 33: Vietnam, Headquarters of Key Consultants (% of Total Project Pipeline)

Frequently asked questions

Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 thematic reports
Currency USD
$1,495

Can be used by individual purchaser only

$2,990

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 in real time.

  • Access a live Vietnam Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.