South Korea Construction Industry Report 2022: An Expected Decline by 0.5% in 2022 – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Analysis 2022-2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “South Korea Construction Market Size, Trends and Forecasts by Sector – Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026” report has been added to ResearchAndMarkets.com’s offering.

The South Korean construction industry is expected to decline by 0.5% in 2022, following contractions of 2.6% in 2021 and 1.3% in 2020.

The industry’s downturn this year was primarily caused by a combination of rising construction costs, rising inflation, higher energy prices, and increased supply chain disruptions influenced by China’s zero-Covid policy. According to the Korean Statistical Information System (KOSIS), the construction industry’s value add declined marginally by 0.2% in first three quarters of 2022, decreasing from KRW61.2 trillion ($48.8 billion) during January-September 2021 to KRW61 trillion ($48.6 billion) during January-September 2022.

In addition, these disruptions have had a significant impact on infrastructure and energy development projects, with the infrastructure construction sector expected to contract by 4.9% and the energy and utilities construction sector by 4.2%, respectively. Despite these persistent headwinds, the construction industry is expected to record growth of 0.8% in 2023, aided by industrial project development.

In July 2022, the government committed to provide financial and regulatory support to pave the way for the semiconductor industry to invest KRW340 trillion ($271.1 billion) over the next five years.

The construction industry is expected to record an annual average growth of 4.1% between 2024 and 2026, supported by the development of transportation, energy, residential, and commercial projects. In 2021, the Korean government announced it plans to invest KRW114.7 trillion ($91.4 billion) in order to expand the railway network from its current 4,274 kilometers to 5,137 kilometers by 2030.

Furthermore, Hyundai Merchant Marine announced a five-year investment plan worth more than KRW15 trillion ($12 billion) in July 2022 to expand its South Korean logistical base

Scope

• Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in South Korea, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using the publisher’s standardized valuation and forecasting methodologies.
• Assess market growth potential at a micro-level with over 600 time-series data forecasts.
• Understand the latest industry and market trends.
• Formulate and validate strategy using the publisher’s critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 COVID-19 Status

3.5 Risk Profile

4 Construction Outlook

4.1 All Construction

• Outlook
• Latest news and developments
• Construction Projects Momentum Index

4.2 Commercial Construction

• Outlook
• Project analytics
• Latest news and developments

4.3 Industrial Construction

• Outlook
• Project analytics
• Latest news and developments

4.4 Infrastructure Construction

• Outlook
• Project analytics
• Latest news and developments

4.5 Energy and Utilities Construction

• Outlook
• Project analytics
• Latest news and developments

4.6 Institutional Construction

• Outlook
• Project analytics
• Latest news and developments

4.7 Residential Construction

• Outlook
• Project analytics
• Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/4kzhq2-korea?w=4

Source: GlobalData

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