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    Malaysia Construction Market

    ID: MRFR/CO/19767-HCR
    111 Pages
    Snehal Singh
    September 2025

    Malaysia Construction Market Research Report Information By Sectors (Infrastructure Construction, Residential Construction, Energy and Utilities Construction, Commercial Construction and Industrial Construction), By Type (Additions, Demolition and Reconstruction and New Construction) – Malaysia Market Forecast Till 2034

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    Malaysia Construction Market Research Report - Forecast by 2034 Infographic
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    Table of Contents

    Malaysia Construction Market Summary

    As per Market Research Future Analysis, Malaysia's Construction Market was valued at USD 49.47 Billion in 2024 and is projected to grow to USD 117.14 Billion by 2034, with a CAGR of 9.00% from 2025 to 2034. The growth is driven by significant investments in infrastructure and residential construction, supported by government initiatives aimed at modernizing transportation and enhancing connectivity. The construction sector is vital for economic growth, creating jobs and fostering innovation in construction techniques.

    Key Market Trends & Highlights

    Key trends driving the Malaysia Construction Market include:

    • Projected market growth from USD 53.93 Billion in 2025 to USD 117.14 Billion by 2034.
    • Residential construction is expected to grow at an annual rate of 4.4% in 2024.
    • Government-sanctioned projects in 2023 are expected to generate investments worth MYR 329.5 billion (USD 75.1 billion), a 23% increase from 2022.
    • Infrastructure construction dominates the market due to government-led modernization initiatives.

    Market Size & Forecast

    2024 Market Size USD 49.47 Billion
    2025 Market Size USD 53.93 Billion
    2034 Market Size USD 117.14 Billion
    CAGR (2025-2034) 9.00%

    Major Players

    Key players include YTL Corporation Berhad, IJM Corporation Berhad, Gamuda Berhad, UEM Group Berhad, Malaysian Resources Corporation Berhad, WCT Holdings Berhad, WCE Holdings Berhad, Hock Seng Lee Berhad, Mudajaya Group Berhad, and Muhibbah Engineering (M) Bhd.

    Malaysia Construction Market Trends

      • Growing residential construction is driving the market growth

    The market CAGR of the construction market of Malaysia is driven by increased construction activity with the implementation of large-scale infrastructure projects and improved domestic and foreign investment in the country. The market is anticipated to continue its growth rate by accounting for an annual growth of 4.4% in 2024. The robust growth of population, urbanization, and rising disposable income have boosted the demand for housing, therefore increasing the number of residential construction projects. The primary developers are investing in this demand by undertaking large-scale residential developments, including apartments, condominiums, and landed properties, in order to offer broad housing needs.

    This growth in construction activity fuels the demand for cement, steel, and bricks and also helps industries like engineering, architecture, and interior design. Furthermore, construction creates employment opportunities, helping create jobs and income. The increase in investment in residential projects serves as a cornerstone of the construction industry in Malaysia, thus fueling market growth.

    Furthermore, the initiatives of the government, like the construction of highways, bridges, airports, railways, and ports, and also the expansion and reconstruction of existing infrastructure, with the aim to transform Malaysia into a high-income nation and regional economic powerhouse, is fueling the market growth. Additionally, the enhanced infrastructure is essential for supporting industrial development, attracting investment, and improving the overall competitiveness of Malaysia's economy. Therefore, the government's continued investment in infrastructure development serves as a crucial driver for the construction market, complementing the growth driven by rising residential construction and thus driving the construction market revenue.

    In the report issued by the Department of Statistics Malaysia, adding value to the construction industry improved by 11.9% on Q1 2024 compared to the same period of the previous year, while on Q4 2023 there was a yearly increase of 3.6% growth. ‘The government, thru the Malaysian Investment Development Authority, sanctioned 5,101 projects in 2023 expected to generate tangible investments worth MYR329.5 billion (USD 75.1 billion), representing a 23% increase in approved investments compared to 2022.

    Malaysia Construction Market Drivers

    Market Segment Insights

    Construction Sector Insights

    The Malaysia Construction market segmentation, based on sector, includes Infrastructure Construction, Residential Construction, Energy and Utilities Construction, Commercial Construction, And Industrial Construction. The infrastructure construction category dominates the market because of the government-led initiatives focused on modernizing transportation networks and improving connectivity. Huge projects include the construction of bridges, highways, railways, ports, and airports and the reconstruction of the existing ones. This also attracts investments, helps in industrial development, and contributes to the country's economic competitiveness.

    Construction Type Insights

    The Malaysia Construction market segmentation, based on type, includes Additions, Demolition and Reconstruction, and New Construction. The new construction category dominates the market due to the growing industry standards and regulatory requirements. These methods often focus on sustainability, efficiency, and cost-effectiveness as per the goals of economic development and environmental conservation. Further, technological advancements have allowed the adoption of innovative construction techniques like prefabrication and modular construction, offering faster project completion times and minimizing labor costs.

    Figure 1: Malaysia Construction Market, by Type, 2023 & 2032 (USD Billion)

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Construction Country Insights

    The construction industry in Malaysia is an important segment that boosts economic growth and development due to a broad range of projects, such as commercial, residential, industrial, and infrastructure segments. With a fast-urbanizing population and continuing urban renewable initiatives, its construction market remains growing, attracting investment and fostering innovation in construction techniques and materials. Further, the government has implemented different initiatives and rules for promoting eco-friendly construction, including mandatory compliance with green building standards for certain types of developments. The government has invested in infrastructure projects in order to improve transportation networks, connectivity, and public amenities.

    Malaysia's construction industry is adopting digital technologies and Building Information Modeling (BIM) systems to streamline project management, optimize construction processes, and enhance collaboration among stakeholders.

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    Regional Insights

    Key Players and Competitive Insights

    Leading market players are investing heavily in the research and development in order to spread their product lines, which will help the Construction market grow even more. Market players are also undertaking various strategic activities to extend their footprint, with important market developments including mergers and acquisitions, new product launches, contractual agreements, higher investments, and collaboration with other organizations. To expand and sustain itself in a more competitive and rising market climate, the construction industry must offer cost-effective items.

    Major players in the Construction market are trying to increase the market demand by investing in research and development operations, including YTL Corporation Berhad, IJM Corporation Berhad, Gamuda Berhad, UEM Group Berhad, Malaysian Resources Corporation Berhad, WCT Holdings Berhad, WCE Holdings Berhad, Hock Seng Lee Berhad, Mudajaya Group Berhad, Muhibbah Engineering (M) Bhd.

    Key Companies in the Malaysia Construction Market market include

    Industry Developments

    Kamuda Bhd has signed joint venture agreement with Sabah Energy Corp Sdn Bhd (SEC) and Kerjaya Kagum Hitech JV Sdn Bhd (KKHJV) for private finance initiative for the project, the construction of MYR 4 billion (USD 0.86 billion) 187.5 MW Hydroelectric Power Plant in Tenom, Sabah, ARRIVE In October 2023.

    Sahaja Hosanna Sdn Bhd had in July 2023 collaborated with FMM Elmina Sdn Bhd to build 2 logistics hubs on its first industrial property development in Klang Valley located on a 22 acres land within City of Elmina, Shah Alam.

    Sedenak JH1 Data Center Campus project includes the development of a new 150mw data center campus in 12.5 hectare land parcel at jb (Johor Bahru). Works commenced in the fourth quarter of 2023 while completion is set for the fourth quarter of 2025. The completed Data Center (DC) Campus will be auxiliary to one of the largest data centre campuses in South East Asia in catering to the infra requirements of the customers in the region in the future.

    As part of the Economic Transformation Programme, the New Industrial Master Plan (NIMP) 2030 is one of the policies launched by the Government of Malaysia, with the ambitions of modernizing the manufacturing up to a high value added, technology equipped industry and thereby competes in the global market by the year 2030.

    The NIMP outlines the additional requirements for the setting up of new industrial areas, the addition of more infrastructure and the upgrading of some of them to meet the industrialization needs.

    Market Segmentation

    Construction Sector Outlook

    • Infrastructure Construction
    • Residential Construction
    • Energy and Utilities Construction
    • Commercial Construction
    • Industrial Construction

    Construction Type Outlook

    • Additions
    • Demolition and Reconstruction
    • New Construction

    Report Scope

    Report Attribute/Metric Details
    Market Size 2024 USD 49.47 Billion
    Market Size 2025 USD 53.93 Billion
    Market Size 2034 USD 117.14 Billion
    Compound Annual Growth Rate (CAGR) 9.00% (2025-2034)
    Base Year 2024
    Market Forecast Period 2025-2034
    Historical Data 2020-2024
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Sector, Type, and Region
    Countries Covered Malaysia
    Key Companies Profiled YTL Corporation Berhad, IJM Corporation Berhad, Gamuda Berhad, UEM Group Berhad, Malaysian Resources Corporation Berhad, WCT Holdings Berhad, WCE Holdings Berhad, Hock Seng Lee Berhad, Mudajaya Group Berhad, Muhibbah Engineering (M) Bhd
    Key Market Opportunities Growing development of smart cities and sustainable urban infrastructure
    Key Market Dynamics Increased investment by the government of the country. Focus on sustainable construction practices in Malaysia.

    Market Highlights

    Author
    Snehal Singh
    Assistant Manager - Research

    High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. By implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in Packaging, Construction, and Equipment domains. She handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.

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    FAQs

    How much is the Construction market?

    The Malaysia Construction market size was valued at USD 41.63 Billion in 2023.

    What is the growth rate of the Construction market?

    The market is projected to grow at a CAGR of 9.00% during the forecast period, 2025-2034.

    Who are the key players in the Construction market?

    The key players in the market are YTL Corporation Berhad, IJM Corporation Berhad, Gamuda Berhad, UEM Group Berhad, Malaysian Resources Corporation Berhad, WCT Holdings Berhad, WCE Holdings Berhad, Hock Seng Lee Berhad, Mudajaya Group Berhad, Muhibbah Engineering (M) Bhd.

    Which sector led the Construction market?

    The infrastructure construction category dominated the market in 2023.

    Which type had the largest market share in the Construction market?

    The new construction category had the largest share of the market.

    1. EXECUTIVE SUMMARY
    2. MARKET INTRODUCTION
      1. Definition
      2. Scope of the Study
        1. Research
    3. Objective
      1. Assumptions
        1. Limitations
    4. RESEARCH METHODOLOGY
      1. Overview
      2. Data Mining
      3. Secondary Research
      4. Primary Research
        1. Primary
    5. Interviews and Information Gathering Process
      1. Breakdown of Primary
    6. Respondents
      1. Forecasting Model
      2. Market Size Estimation
        1. Bottom-Up Approach
        2. Top-Down Approach
    7. Data Triangulation
      1. Validation
    8. MARKET DYNAMICS
      1. Overview
      2. Drivers
      3. Restraints
    9. Opportunities
    10. MARKET FACTOR ANALYSIS
      1. Value Chain Analysis
      2. Porter’s Five Forces Analysis
        1. Bargaining Power
    11. of Suppliers
      1. Bargaining Power of Buyers
        1. Threat
    12. of New Entrants
      1. Threat of Substitutes
        1. Intensity
    13. of Rivalry
      1. COVID-19 Impact Analysis
        1. Market Impact
    14. Analysis
      1. Regional Impact
        1. Opportunity and Threat
    15. Analysis
    16. MALAYSIA CONSTRUCTION MARKET, BY SECTOR
      1. Overview
      2. Infrastructure Construction
      3. Residential Construction
      4. Energy and Utilities Construction
      5. Commercial Construction
      6. Industrial Construction
    17. MALAYSIA CONSTRUCTION MARKET,
    18. BY TYPE
      1. Overview
      2. Additions
      3. Demolition
    19. and Re-Construction
      1. New Construction
    20. COMPETITIVE LANDSCAPE
      1. Overview
      2. Competitive Analysis
      3. Market
    21. Share Analysis
      1. Major Growth Strategy in the Malaysia Construction
    22. Market,
      1. Competitive Benchmarking
      2. Leading Players
    23. in Terms of Number of Developments in the Malaysia Construction Market,
      1. Key developments and Growth Strategies
        1. New Product Launch/Service
    24. Deployment
      1. Merger & Acquisitions
        1. Joint Ventures
      2. Major Players Financial Matrix
        1. Sales & Operating
    25. Income, 2023
      1. Major Players R&D Expenditure. 2023
    26. COMPANY PROFILES
      1. YTL Corporation Berhad
        1. Company
    27. Overview
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
    28. Key Strategies
      1. IJM CORPORATION BERHAD
        1. Company
    29. Overview
      1. Financial Overview
        1. Products Offered
        2. Key Developments
        3. SWOT Analysis
    30. Key Strategies
      1. Gamuda Berhad
        1. Company Overview
        2. Financial Overview
        3. Products Offered
    31. Key Developments
      1. SWOT Analysis
        1. Key Strategies
      2. UEM GROUP BERHAD
        1. Company Overview
    32. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. Malaysian
    33. Resources Corporation Berhad
      1. Company Overview
    34. Financial Overview
      1. Products Offered
        1. Key Developments
        2. SWOT Analysis
        3. Key Strategies
      2. WCT
    35. Holdings Berhad
      1. Company Overview
        1. Financial Overview
        2. Products Offered
        3. Key Developments
    36. SWOT Analysis
      1. Key Strategies
      2. WCE HOLDINGS BERHAD
        1. Company Overview
        2. Financial Overview
    37. Products Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
      2. HOCK SENG LEE BERHAD
    38. Company Overview
      1. Financial Overview
        1. Products
    39. Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
      2. MUDAJAYA GROUP BERHAD
    40. Company Overview
      1. Financial Overview
        1. Products
    41. Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
      2. MUHIBBAH ENGINEERING (M) BHD
    42. Company Overview
      1. Financial Overview
        1. Products
    43. Offered
      1. Key Developments
        1. SWOT Analysis
        2. Key Strategies
    44. APPENDIX
      1. References
      2. Related Reports
    45. CONSTRUCTION MARKET, SYNOPSIS, 2025-2034
    46. MARKET, ESTIMATES & FORECAST, 2025-2034 (USD BILLION)
    47. CONSTRUCTION MARKET, BY SECTOR, 2025-2034 (USD BILLION)
    48. CONSTRUCTION MARKET, BY TYPE, 2025-2034 (USD BILLION)
    49. CONSTRUCTION MARKET
    50. MARKET
    51. YTL CORPORATION BERHAD: SWOT ANALYSIS
    52. FINANCIAL OVERVIEW SNAPSHOT
    53. GAMUDA BERHAD: SWOT ANALYSIS
    54. SNAPSHOT
    55. MALAYSIAN RESOURCES CORPORATION BERHAD.: FINANCIAL OVERVIEW SNAPSHOT
    56. WCT HOLDINGS BERHAD: FINANCIAL OVERVIEW SNAPSHOT
    57. BERHAD: SWOT ANALYSIS
    58. SNAPSHOT
    59. HOCK SENG LEE BERHAD: FINANCIAL OVERVIEW SNAPSHOT
    60. LEE BERHAD: SWOT ANALYSIS
    61. OVERVIEW SNAPSHOT
    62. MUHIBBAH ENGINEERING (M) BHD: SWOT ANALYSIS

    Malaysia Construction Market Segmentation

    Market Segmentation Overview

    • Detailed segmentation data will be available in the full report
    • Comprehensive analysis by multiple parameters
    • Regional and country-level breakdowns
    • Market size forecasts by segment
    Malaysia Construction Market Research Report - Forecast by 2034 Infographic
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