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Here's Why 2020 Could Be Another Big Year for Construction in South Korea Market

Construction in South Korea Market

Construction in South Korea Market

HTF Market Intelligence released a new research report of 53 pages on title 'Construction in South Korea - Key Trends and Opportunities to 2022' with detailed analysis, forecast and strategies. The study covers key regions and important players

Request a sample report @ https://www.htfmarketreport.com/sample-report/1390786-construction-in-south-korea-key-trends-and-opportunities-to

#Summary:
Construction in South Korea - Key Trends and Opportunities to 2022
The South Korean construction industry registered growth of 10.1% and 7.1% in real terms in 2016 and 2017 respectively, following average annual growth of 3.1% during 2013-2015. This increase can be attributed to improvements in business confidence and consumer demand, as well as public and private sector investment in commercial, residential and infrastructure construction projects, leading to an increase in demand for the South Korean construction industry. Additionally, construction related to the 2018 Winter Olympic Games supported the industry's overall growth during 2016-2017.

The industry is expected to expand over the forecast period (2018-2022), albeit at a much slower pace. The industry's expansion is expected to be supported by the government's efforts to enhance commercial, energy and utilities infrastructure. In addition, the government's aim to improve the transport network is expected to support investments in infrastructure projects, which will in turn fuel growth in the industry.

The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 1.98% over the forecast period, compared to 5.84% during the review period (2013-2017).

GlobalData's ""Construction in South Korea - Key Trends and Opportunities to 2022"", report provides detailed market analysis, information and insights into the South Korean construction industry, including -
- The South Korean construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the South Korean construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Key Highlights:
- GlobalData expects the residential construction market to retain its leading position over the forecast period, with a share of 43.0% of the industry's total value in 2022. Market growth over the forecast period is expected to be supported by government efforts to construct affordable houses for the country's low- and middle-income populations. The government plans to develop 1.0 million affordable housing units by 2022.
- GlobalData expects the infrastructure construction market output to record a forecast-period CAGR of 2.01% in nominal terms, supported by public and private sector investments in the development and modernization of the country's transport infrastructure. In March 2018, the Ministry of Land, Infrastructure and Transportation announced a plan to increase the share of the rail network to the total freight transport from 5% in 2017 to 10% in 2021. Consequently, regular investments are expected in the maintenance and expansion of transport infrastructure.
- In December 2017, the South Korean Ministry of Trade, Industry and Energy (MOTIE) unveiled the 8th Basic Plan for Long-term Electricity Supply and Demand 2017-2031 (8th BPE). Under this, MOTIE estimated that the country's electricity demand will grow by 1.3% annually, going from 85.2GW in 2017 to 100.5GW in 2030. Consequently, public and private sector investments in power infrastructure development to meet the government's targets will drive the energy and utilities construction market's growth over the forecast period.
- The Ministry of Land, Infrastructure and Transport launched a national road construction plan in 2017, under which it plans to construct 13 national expressways across the country, stretching 288.7km, and expand ten existing expressways by 165.7km by 2020.
- The total construction project pipeline in South Korea - as tracked by GlobalData, and including all mega projects with a value above US$25 million - stands at KRW303.7 trillion (US$268.7 billion). The pipeline, which includes all projects from pre-planning to execution, is skewed to late-stage projects, with 63.6% of the pipeline value being in projects in the pre-execution and execution stages as of September 2018.

Scope:
This report provides a comprehensive analysis of the construction industry in South Korea. It provides -
- Historical (2013-2017) and forecast (2018-2022) 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.

Buy this report @ https://www.htfmarketreport.com/buy-now?format=1&report=1390786

Reasons to buy:
- Identify and evaluate market opportunities using GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.

Get Customization in the Report, Enquire Now @ https://www.htfmarketreport.com/enquiry-before-buy/1390786-construction-in-south-korea-key-trends-and-opportunities-to

Table of Contents
1. EXECUTIVE SUMMARY 2
2. CONSTRUCTION OUTLOOK: AT-A-GLANCE 3
3. LATEST NEWS AND INDICATORS 9
4. KEY DRIVERS AND RISKS 11
....Continued

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/1390786-construction-in-south-korea-key-trends-and-opportunities-to

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA - 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the "Accurate Forecast" in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their "Goals & Objectives".

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