Bridge, Tunnel and Subway Construction in China - Market Research Report (2014-2029)
Beijing, China
Last Updated: May 2024
4721Revenue
$1.7tr
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
14m
Businesses
2,723
Wages
$XX.Xbn
Bridge, Tunnel and Subway Construction in China industry analysis
China's Bridge, Tunnel and Subway Construction industry has been growing rapidly, driven by urbanization, a growing population, increasing infrastructure demand and higher government investment. Industry revenue is expected to grow an annualized 8.4% over the five years through 2023, including 6.5% in 2023, to total $1.7 trillion.Employment numbers are expected to grow at an annualized 5.6% over the five years through 2023. Most bridge, tunnel and subway construction major players also have operations in building construction, real estate development, toll road operation and municipal public management. By operating across different sectors, these firms can decrease costs and maintain stable supply sources.Large general contractors are substantial and relatively stable, and are less vulnerable to industry changes due to their broad scopes and established relationships with local government and material supply sources. Several major industry players, like China Railway Construction Corporation, China Railway Group Limited and China Communication Construction Company Limited, are ranked among the top global contractors.According to the 14th Five-Year Plan of Transportation in China, which was issued in 2021 by the Ministry of Transport, total mileage of railways, roads and highways was expected to grow by 165,000 kilometers, 5.5 million kilometers and 190,000 kilometers respectively, during the period. Along with growing railway and highway transportation demand, more government investment has supported the industry's development. Industry revenue is forecast to grow at an annualized 5.9% over the five years through 2028, to total $2.2 trillion. Future industry trends include more construction projects in rural areas and current project upgrades and rebuilds.
Trends and Insights
- The industry’s development has been boosted by favorable external conditions. This includes urbanization, population growth and passenger turnover volumes, as well as increasing government investment.
- Roads and highways contribute the most industry revenue. Roads and highways are important for connecting cities, villages and industrial bases.
- First tier cities generate the most revenue due to their developed economies. Shanghai, Beijing and Guangdong together comprised almost a quarter of industry revenue in 2023.
- Industry firms compete with each other on tender. This is one of the most important success factors for general contractors.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 8.4 % over the past five years, to reach an estimated $1.7tr in 2024.
Trends and Insights
The industry's development is affected by various factors
- The industry's development has been driven by China's urbanization, population growth and passenger turnover volumes, and increasing government investment.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Urban rail transit is set to significantly speed up
- The rate of urbanization in China has been growing by an annualized 1.0% in recent years. An estimated 13 million people move from rural areas to cities every year. As a result, demand for public transportation is growing. By 2023, the urban public transport volume will reach 120 billion person-times, reflecting annualized growth of 6.0% over the five years through 2020.
Biggest companies in the Bridge, Tunnel and Subway Construction in China
| Company | Market Share (%)
2023 | Revenue ($short_0)
2023 |
|---|
There are no companies that hold a large enough market share in the Bridge, Tunnel and Subway Construction in China industry for IBISWorld to include in this product.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Roads and highways, Railways and Rail transits. Roads and highways is the largest segment of the Bridge, Tunnel and Subway Construction in China.
Trends and Insights
Roads and highways contribute the most industry revenue
- As the largest product segment in the Bridge, Tunnel and Subway Construction industry, revenue generated by roads and highways accounted for 28.1% of total industry revenue in 2023.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Building Construction in China
- Wiring and Pipeline Infrastructure Construction in China
- Passenger Rail Transport in China
- Toll Road Operation in China
- Road & Highway Construction in China
International industries
- Bridge & Elevated Highway Construction in the US
- Heavy Engineering Construction in the US
- Railroad Track Construction in the US
- Tunnel Construction in the US
- Dredging Services in the US
Table of Contents
About this industry
Industry definition
The Bridge, Tunnel and Subway Construction industry in China is mainly engaged in roadbed construction and track laying; construction of railway, subway, light rail and tramcar lines; construction of expressways, highways, streets, sidewalks, overpasses, city squares, and parks; and the construction of airports, tunnels, bridges and viaducts.
What's included in this industry?
Road and highways constructionRail transit constructionRailways constructionTunnels constructionBridges constructionSidewalks and other products constructionCompanies
Purchase this report to view all major companies in this industry.
Related Terms
SUBCONTRACTORREVENUE KILOMETERBUILD-OPERATE-TRANSFER (BOT)Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry’s development has been boosted by favorable external conditions. This includes urbanization, population growth and passenger turnover volumes, as well as increas...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Roads and highways contribute the most industry revenue. Roads and highways are important for connecting cities, villages and industrial bases.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
First tier cities generate the most revenue due to their developed economies. Shanghai, Beijing and Guangdong together comprised almost a quarter of industry revenue in 2023.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Industry firms compete with each other on tender. This is one of the most important success factors for general contractors.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Most of industry participants are state-owned. There are a lot of regulatory and price restrictions for new entrants.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
Detailed analysis
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The industry is heavily supported and assisted by the Chinese government. This is since bridge, tunnel and subway construction is an important segment of infrastructure const...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchases account for the largest proportion of industry revenue. Recent material cost increases have led some companies to manufacture their own inputs or consider how they ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in China include:
- National Bureau of Statistics China
- General Administration of Customs
- People’s Bank of China
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Bridge, Tunnel and Subway Construction industry in China in 2024?
The market size of the Bridge, Tunnel and Subway Construction industry in China is $1.7tr in 2024.
How many businesses are there in the Bridge, Tunnel and Subway Construction in China industry in 2024?
There are 2,723 businesses in the Bridge, Tunnel and Subway Construction industry in China, which has grown at a CAGR of 4.3 % between 2019 and 2024.
Has the Bridge, Tunnel and Subway Construction industry in China grown or declined over the past 5 years?
The market size of the Bridge, Tunnel and Subway Construction industry in China has been growing at a CAGR of 8.4 % between 2019 and 2024.
What is the forecast growth of the Bridge, Tunnel and Subway Construction industry in China over the next 5 years?
Over the next five years, the Bridge, Tunnel and Subway Construction industry in China is expected to grow.
What does the Bridge, Tunnel and Subway Construction in China include?
Road and highways construction and Rail transit construction are part of the Bridge, Tunnel and Subway Construction industry.
How competitive is the Bridge, Tunnel and Subway Construction industry in China?
The level of competition is low and increasing in the Bridge, Tunnel and Subway Construction industry in China.
