Canada Commercial Construction Market Insights Forecasts to 2033

• The Market is Growing at a CAGR of 5.25% from 2023 to 2033
• The Canada Commercial Construction Market Size is Expected to hold a significant share by 2033

The Canada Commercial Construction Market Size is anticipated to hold a significant share by 2033, growing at a CAGR of 5.25% from 2023 to 2033. The increasing urbanization, technological innovations, investment in infrastructure and real estate projects, and supportive government policies & regulations are driving the growth of the commercial construction market in Canada.     

Market Overview

Commercial construction refers to the construction of buildings and other structures for commercial purposes. It comprises office buildings, retail stores, warehouses, and factories. Canada's construction sector is a significant economic engine and a barometer of the health of the country's economy. In Canada, the federal government has invested over USD 1 billion in the creation of vaccines and the promotion of industrial research, which has helped the manufacturing sector grow. Furthermore, the introduction of sustainable practices and emphasis on eco-friendly buildings are opening up opportunities for possibilities of innovation in the commercial construction market. Further, the technological advancements and the integration of advancements including smart building solutions such as IoT-enabled systems, AI-driven designs, and digital construction are creating market opportunities.

Report Coverage

This research report categorizes the market for the Canada commercial construction market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada commercial construction market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada commercial construction market.

Driving Factors

The new use of technology in construction such as BIM (Building Information Modeling) for designing, planning, constructing, operating, and maintaining physical infrastructure significantly contributes to market growth. Further, the growing population, urbanization, and government initiatives in infrastructure projects drive the market demand for commercial construction. The federal government is investing more than $33 billion through the Investing in Canada Infrastructure Program in public infrastructure projects across the country. The investment in infrastructure and real estate projects is also responsible for market growth.

Restraining Factors

Inflation and a lack of workers have increased the cost of construction and remodeling projects, which ultimately leads to restrain market.

Market Segmentation

The Canada Commercial Construction Market share is classified into type.

• The office building construction segment dominated the market with the largest market share during the forecast period.

The Canada commercial construction market is segmented by type into hospitality construction, office building construction, retail construction, institutional construction, and others. Among these, the office building construction segment dominated the market with the largest market share during the forecast period. For instance, Public Services and Procurement Canada is planning to construct a new office structure that would be 13,700 square meters in size. The increasing volume of office space construction and the value of office real estate investment in Canada are contributing to market growth. 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada commercial construction market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• SNC-Lavalin Group Inc.
• PCL Construction
• EllisDon Group
• Bird Construction Company
• Pomerleau, Inc.
• IDL Projects Inc
• Graham Group Ltd.
• Dalcon Inc
• Chandos Construction Ltd
• Heatherbrae Builders
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2022, Chandos Construction Inc. (“Chandos”) and Bird Construction Inc. (“Bird”) announced they have entered into a three-year strategic partnership for the Building Good initiative (“Building Good”).

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Commercial Construction Market based on the below-mentioned segments:

Canada Commercial Construction Market, By Type

• Hospitality Construction
• Office Building Construction
• Retail Construction
• Institutional Construction
• Others