Building Boom: India's Construction Industry Set for Explosive Growth
The Indian construction industry is expected to reach USD 350 billion by 2030, driven by urbanization, rising incomes, and government initiatives. Segments like consumer electricals, home furniture, security products, and flooring are also poised for growth, supported by policy trends and increased market demand.
- Country:
- India
India's residential construction industry is anticipated to hit USD 350 billion by 2030, fueled by urbanization, increased income levels, and supportive government policies, a report revealed on Tuesday.
Deloitte's report, 'Building Beyond Basics: Innovations Transforming India's Living Spaces,' highlights significant growth in the construction and building materials market, forecasting a 9.6% rise from USD 105 billion in FY2025 to USD 166 billion in FY2030.
Other sectors showing rapid expansion include the consumer electricals market, expected to reach USD 18.5 billion by FY30, and the home furniture and décor market, predicted to grow from USD 38 billion to USD 62 billion. The home security and flooring markets are set for similar growth trajectories, marking a robust future for India's construction landscape.
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