Japan is the world’s third largest construction market with 6% global market share, and the market revenue of its construction industry is worth approximately €406 billion.
Investment in public construction is valued at approximately €170 billion. Private commercial construction amounts to €244 billion with €114 billion for residences, €83 billion for commercial buildings and €43 billion for public works.
The Japanese government actively supports policies to increase the proportion of zero-energy houses to 50% of newly constructed houses in the domestic market by 2020. The market offers opportunities for companies dealing with sensors and Internet of Things (IoT) cloud systems, due to an increasing demand for IoT technology in buildings and residences.
Intense development in Tokyo and its surroundings areas in preparation for the 2020 Tokyo Olympics has boosted demand for building materials. European companies specializing in high-tech materials including carbon-fibre reinforced plastic, cellulose nanofiber, and high-tech glass materials can probe this promising market for partnership collaborations.
The large spending by the government on infrastructure development such as new expressways and expanded railway networks has led to steady growth of the construction machinery sector.
From 12-15 November 2019, EU Gateway | Business Avenues will bring 40 of the most ingenious European companies to Tokyo for a mission dedicated to Construction & Building Technologies. Eligible companies can apply online until 28 June 2019.