Bangladesh Construction Market Size, Growth & Forecast 2031

Segments - Bangladesh Construction Market by Sectors (Residential, Commercial [Factories, Shops, Business Units, and Offices], Industrial, Transportation, Energy, and Utilities [Healthcare Units, Educational Units, Electricity, Water, and Others]), End-users (Public and Private), Construction Machineries (Earth Moving, Material Handling, and Concrete & Road Construction) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Rucha Phatak

Report Description

The Bangladesh construction market size was valued at USD 28.55 Billion in 2022 and is projected to reach USD 49.98 Billion by 2031, expanding at a CAGR of 6.42% during the forecast period, 2023 – 2031. due to increasing urbanization and commercialization in the country. The growth of the market in the country is attributed to the expansion of the construction industry in the recent years.

Bangladesh, being the world’s eight most densely populated country, has developed a well-structured construction market owing to the rise in population and the requirement for residential infrastructure. The government extensively invests in the development of healthcare units, residential sectors, transportation infrastructure, and industries. Governments and private construction businesses build various units and buildings in Bangladesh for serving different purposes, residential and commercial.

The Bangladesh construction market was hampered due to the outbreak of Coronavirus. All infrastructural and construction projects came to a standstill and were hanging in a purgatory due to insufficient funds and social distancing to prevent the spread of the virus. Except for a few government projects, commercial projects were halted. A significant portion of raw materials is imported from other countries, the outbreak paused imports, leaving construction businesses without materials and funding.

Bangladesh Construction Market Trends, Drivers, Restraints, and Opportunities

Increasing urbanization and population fuel the construction market in Bangladesh.
Rising spending on engineering and infrastructural projects is expected to drive the market.
Lack of security for stakeholders in the construction market due to uncertainties, restricts the market.
Workers who work in this market are vulnerable to falling materials, handling load, or any hazardous substance. Lack of proper safety gear and standards restricts the market.
Industrialization and the development of technologies for construction equipment are expected to create opportunities in the market in the coming years.
New models of autonomous and semi-autonomous controlled excavators are being integrated in the construction market for better efficiency, thus creating lucrative opportunities in the market in the country.

Scope of the Bangladesh Construction Market Report

The report on the Bangladesh construction market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes	Details
Report Title	Bangladesh Construction Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016 & 2021
Forecast Period	2023–2031
Segmentation	Sectors (Residential, Commercial [Factories, Shops, Business Units, and Offices], Industrial, Transportation, Energy, and Utilities [Healthcare Units, Educational Units, Electricity, Water, and Others]), End-users (Public and Private), Construction Machineries (Earth Moving, Material Handling, and Concrete & Road Construction)
Country	Bangladesh
Report Coverage	Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Key Players Covered in the Report	Mir Akhter Hossain Limited; Development Design Consultants; Build Trade Engineering Ltd; Mazid Sons Construction Ltd; and Western Engineering Pvt Ltd.

Bangladesh Construction Market Segment Insights

High demand for residential apartments and buildings drive the market

Based on sectors, the Bangladesh construction market is segmented into residential, commercial, industrial, transportation, energy, and utilities. The commercial sector includes institutions such as factories, shops, business units, and offices. Utilities include healthcare units, educational units, electricity, water, and others. The residential segment holds a dominant share of the market and this trend is expected to continue during the forecast period.

Rising population in Bangladesh and increasing urbanization and development activities are fueling the demand for residential buildings. The commercial and industrial segments are growing rapidly due to the establishment of several manufacturing plants in the country. Cities in Bangladesh are being developed in suburbs and suburban areas, away from urban areas due to congestion and high density of population. Additionally, increase in the income of the middle class population is boosting the demand for residential real estate in the country.

Public segment held substantial market share in 2020

On the basis of end-users, the market is bifurcated into public and private. The public segment is projected to hold a key share of the market owing to high government expenditures on infrastructural projects and construction equipment. The expansion of the construction sector in Bangladesh is a key factor boosting the economy in the country and one of the determinants of the country’s GDP.

The Executive Committee of National Economic Council of Bangladesh approved two mass rapid transit projects that were worth USD 10.8 Bn. The private segment includes autonomous construction businesses owned by stakeholders or a group of businessmen. This segment is rapidly growing in Bangladesh, as private construction firms are undertaking many residential projects to increase their market share.

Material handling segment to grow during the forecast period

In terms of construction machinery, the Bangladesh construction market is segregated into earth moving machinery, material handling machinery, and concrete & road construction machinery. The material handling segment is projected to register the largest share of the market due to large infrastructure and commercial projects that necessitate material handling. Automation of material handling machinery and presence of the wide number of engineering and construction projects fuel the demand for material handling equipment. Additionally, the concrete and road construction equipment is expected to grow, in terms of revenue, due to increased government expenditure on transportation infrastructure.

Segments

By Sectors

Residential
Commercial
- Factories
- Shops
- Business Units
- Offices
Industrial
Transportation
Energy
Utilities
- Healthcare Units
- Educational Units
- Electricity
- Water
- Other Services

By End Users

Public
Private

By Construction Machineries

Earth Moving Machinery
Material Handling Machinery
Concrete & Road Construction Machinery

By Key Players

Mir Akhter Hossain Limited
Development Design Consultants
Build Trade Engineering Ltd
Mazid Sons Construction Ltd
Western Engineering Pvt Ltd

Competitive Landscape

Key players in the Bangladesh Construction Market include Mir Akhter Hossain Limited; Development Design Consultants; Build Trade Engineering Ltd; Mazid Sons Construction Ltd; and Western Engineering Pvt Ltd. These players are engage in mergers & acquisitions, collaborations, agreements, and partnerships to increase their market share.

Bangladesh Construction Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Construction Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Construction Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Construction Market - Supply Chain
  4.5. Global Construction Market Forecast
     4.5.1. Construction Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Construction Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Construction Market Absolute $ Opportunity
5. Global Construction Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Construction Market Size and Volume Forecast by End Users
     5.3.1. Public
     5.3.2. Private
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Construction Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Construction Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Construction Demand Share Forecast, 2019-2026
7. North America Construction Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Construction Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Construction Market Size and Volume Forecast by End Users
     7.4.1. Public
     7.4.2. Private
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Construction Demand Share Forecast, 2019-2026
8. Latin America Construction Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Construction Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Construction Market Size and Volume Forecast by End Users
     8.4.1. Public
     8.4.2. Private
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Construction Demand Share Forecast, 2019-2026
9. Europe Construction Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Construction Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Construction Market Size and Volume Forecast by End Users
     9.4.1. Public
     9.4.2. Private
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Construction Demand Share Forecast, 2019-2026
10. Asia Pacific Construction Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Construction Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Construction Market Size and Volume Forecast by End Users
     10.4.1. Public
     10.4.2. Private
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Construction Demand Share Forecast, 2019-2026
11. Middle East & Africa Construction Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Construction Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Construction Market Size and Volume Forecast by End Users
     11.4.1. Public
     11.4.2. Private
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Construction Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Construction Market: Market Share Analysis
  12.2. Construction Distributors and Customers
  12.3. Construction Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Mir Akhter Hossain Limited
     12.4.2. Development Design Consultants
     12.4.3. Build Trade Engineering Ltd
     12.4.4. Mazid Sons Construction Ltd
     12.4.5. Western Engineering Pvt Ltd