South Korea Transportation Infrastructure Construction Market Insights Forecasts to 2032
- The Market Size is Growing at a CAGR of 3.21% from 2022 to 2032.
- The South Korea Transportation Infrastructure Construction Market Size is Expected to Hold a Significant Share by 2032.
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The South Korea Transportation Infrastructure Construction Market Size is Expected To Hold a significant share by 2032, at a CAGR of 3.21% during the forecast period 2022 to 2032.
A transportation system is a critical driver of social and economic development, creating opportunities for both poor and facilitating economies to compete in the transportation infrastructure market. Individuals are connected to jobs, healthcare, and education by transportation infrastructure. It makes international trade in goods and services easier. Transport systems make it easier for various inputs, such as fuels, machinery, and raw materials, to move around the nation's entire production system. In a similar vein, the products of different industries are easily transported from one location to another to be sold. As a result, the transportation system is offering beneficial services that increase the volume of production across a range of industries in both developed and developing nations, which supports the expansion of transportation infrastructure in South Korea. Moreover, green and sustainable infrastructure construction can be an emerging trend that will increase demand for transportation infrastructure construction. Environmentally friendly practices are being incorporated into the transportation infrastructure sector more and more. To achieve this, energy-efficient technologies, sustainable materials, and green infrastructure components like environmentally friendly urban design and the creation of transportation hubs with minimal environmental effects must all be incorporated.
This research report categorizes the market for South Korea transportation infrastructure construction market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea transportation infrastructure construction market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea transportation infrastructure construction market.
South Korea Transportation Infrastructure Construction Market Report Coverage
|Forecast Period 2022-2032 CAGR:
|Historical Data for:
|No. of Pages:
|Tables, Charts & Figures:
|By Type, and COVID-19 Impact Analysis.
|POSCO E&C, Samsung C&T, Hyundai E&C, Daelim Industrial, GS E&C, Daewoo E&C, Lotte E&C, Hoban Construction, Hanwha Engineering & Construction, DL E&C, and Others
|Pitfalls & Challenges:
|COVID-19 Empact, Challenge, Future, Growth, & Analysis
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The primary driver supporting the market is the increased demand for transportation as a result of the rise of globalization transportation is one of the most important sectors of the South Korean economy. It helps facilitate the heavy traffic of people and goods both inside and outside of its borders. Because of domestic and international trade, the movement of cargo, including parts, raw materials, and completed goods, has greatly increased the variety, accessibility, and affordability of goods across borders. Furthermore, the South Korean government's spending on port infrastructure to support safe and effective commercial activity is probably going to help the global market. The need for an expansion of liquefied natural gas exports via maritime transportation is also anticipated to drive up demand for the sector.
Transportation infrastructure project delays and increased costs can be attributed to intricate regulatory requirements and permitting processes. Meeting compliance requirements, obtaining the required approvals and environmental clearances, and navigating a maze of bureaucratic processes can take a lot of time. These difficulties may result in longer project schedules and higher project costs, which may affect the dynamics of the transportation infrastructure construction market growth in South Korea.
- In 2022, the roadways segment accounted for the largest revenue share over the forecast period.
Based on the type, the South Korea transportation infrastructure construction market is segmented into roadways, railways, airports & ports, inland waterways, and others. Among these, the roadways segment has the largest revenue share over the forecast period. The construction of roads, highways, and bridges is gaining momentum due to increased recognition of their pivotal role in economic development and connectivity. South Korean governments are prioritizing infrastructure investments to address urbanization, accommodate population growth, and enhance transportation networks. Improved road connectivity not only facilitates the efficient movement of goods and people but also stimulates economic activities by reducing travel times and enhancing accessibility, making roads, highways, and bridge construction a vital component for sustainable development and growth in South Korea.
The report offers the appropriate analysis of the key organizations/companies involved within the South Korea transportation infrastructure construction market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- POSCO E&C
- Samsung C&T
- Hyundai E&C
- Daelim Industrial
- GS E&C
- Daewoo E&C
- Lotte E&C
- Hoban Construction
- Hanwha Engineering & Construction
- DL E&C
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On November 2022, Samsung C&T Construction Division announced that it had introduced robot technology to the construction site to perform high-risk tasks. A floor robot, or Access Floor construction robot, has been commercialized by Samsung C&T. The work for Access Floor, a double-floor system, is done so that the upper panel is covered after support is installed at a specific height from the lower floor.
This study forecasts revenue at regional, and country levels from 2021 to 2032. Spherical Insights has segmented the South Korea Transportation Infrastructure Construction Market based on the below-mentioned segments:
South Korea Transportation Infrastructure Construction Market, By Type
- Airports & Ports
- Inland Waterways
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