Vietnam Construction Market Size, Share, Growth, Trends and Forecast 2025-2033

Vietnam Construction Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Market Size in 2024: USD 36,232.00 Million

Market Forecast in 2033:USD 70,578.22 Million

Market Growth Rate (2025-33): 7.69%

The Vietnam construction market size was valued at USD 36,232.00 Million in 2024. Looking forward, IMARC Group estimates the market to reach USD 70,578.22 Million by 2033, exhibiting a CAGR of 7.69% during 2025-2033. Southern Vietnam dominated the market, holding a significant market share of over 35.0% in 2024. The increasing demand for cloud services and big data analytics, rising need for more reliable and scalable data processing and storage facilities, and stringent regulatory compliance represent some of the key factors contributing to the Vietnam construction market share.

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Vietnam Construction Market Trends and Drivers:

The construction industry in Vietnam is undergoing accelerated growth due to an unprecedented increase in infrastructure investment. Significant spending is directed towards upgrading the national transport network to improve connectivity and bolster the economy, and the government is fully committed to these goals. Major expressway projects are under construction and approaching completion, providing direct links between economic regions and facilitating easier access for reduced logistical bottlenecks. Urban metro systems are also being constructed in Ho Chi Minh City and Hanoi to alleviate severe traffic congestion in those areas. Additional investment is being directed towards deep-sea ports and international airport terminals to better integrate Vietnam into global supply chains. These and other projects are set to substantially increase passenger and cargo volumes. Public funding combined with active PPP frameworks is fostering unprecedented growth in construction services and engineering in the country, and is expected to stimulate growth in industrial and real estate development in the long run.

Vietnam's construction industry is undergoing a transformation owing to an increase in legal mandates, corporate social responsibility policies, and an overall market shift toward sustainability and technological adoption. The spread and popularity of sustainability certifications, both LEED and LOTUS, is noteworthy as the sum of certified projects is growing by more than 10 percent every year. Occupiers and developers have begun placing a premium on energy, water efficiency, and healthy building environments, which is further pushed by the increase of energy costs and awareness around climate change. This further increases the adoption of high-performance building construction materials, advanced insulation, energy-efficient windows, and integrated solar PV systems. At the same time, the smart building concept is gaining popularity as construction goes beyond automating…instead reinforcing the use of integrated systems that assist in energy optimization, occupant comfort, predictive maintenance, and multi-tier security. There is also an increase in the use of Building Information Modeling (BIM) systems which enhances the management and coordination of projects and their lifecycles. In addition, the use of prefabricated and modular construction is on the rise due to drives for improved speed of construction, reduction of waste, better quality management, and a dwindling skilled workforce. This shows that the market is maturing, and the demand for projects in the future is going to be highly influenced by the environmental impact, operational efficiency, and technological advancement the projects demonstrate.

The residential construction sector continues to be a vital pillar and is undergoing profound change driven by accelerated urbanization, shifts in demographics, and changing construction and housing buyer preferences. The high-end and luxury segments are still developing in the primary metropolitan areas such as Hanoi and Ho Chi Minh City, but the most pronounced acceleration in demand in the housing segments is in the mid-income and affordable categories. This is by propelled by the rapidly growing middle class, massive rural-to-urban migration, and government policies aimed at the social housing scope to tackle the existing gap. There is a pronounced shift in the concentration of housing, with developers wanting to locate integrated townships providing all necessary infrastructure and socio-cultural amenities such as schools, clinics, retail, and parks to be located within the community in well-planned to satellite cities and newly emerging urban corridors. In addition, the post-pandemic shifts are changing lifestyles and increasing the demand for larger housing spaces with separate home offices and community amenities. Still, the growth is facing challenges such as the need for complex financing approaches for developers and buyers in addition to location-locked land acquisition hurdles, exceeding material prices, and diminished affordability. Meeting the diverse and growing demand, ranging from affordable for industrial workers to premium housing for urban professionals, while navigating these constraints requires innovative project frameworks, diverse partnerships, and construction approaches.

Vietnam Construction Market Industry Segmentation:

Analysis by Sector:

• Residential Construction
• Commercial Construction
• Industrial Construction
• Infrastructure (Transportation) Construction
• Energy and Utilities Construction

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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