Mar 20 2010
Research and Markets (http://www.researchandmarkets.com/research/26860f/canada_commercial) has announced the addition of the "Canada Commercial Construction Market Data & Forecast to 2014" report to their offering.
Commercial construction experienced growth in 2007 and 2008 and then the growth declined to 1.6% in 2009E caused by global economic slowdown and financial crisis. It is expected to remain flat to 2014 as the economic growth slows.
Alberta and British Columbia experienced a huge gain in office building construction in the recent years. In both provinces, commercial projects dominated the investments. Low vacancy rates for office buildings, strong consumer demand for durable goods and high corporate profits contributed to the growth.
The Canadian commercial construction market is estimated to be worth C$15.7 billion (US$14.8 billion) for 2010. In 2009 office buildings, the leading category, accounted for 35.6% of the construction value and recorded a CAGR of 6.81% for the period 2004-2009E.
WMI expects the Leisure & hospitality buildings to be the fastest growing category to drive growth for commercial construction market over the period 2009E-2014F, followed by outdoor leisure facilities. The commercial construction growth is expected to grow faster over the period 2009E-2014F than 2004-2009E.
Source: http://www.researchandmarkets.com/