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The South Korea Transportation Infrastructure Construction Market is expected to grow at a CAGR of 3.5%.
Due to COVID lockdowns and labor unavailability, the transport infrastructure construction market has taken a hit. Many construction projects were stopped to ensure the safety of the workers. The supply chains, plants, equipment, and manpower were hugely impacted. Now the sector is recovering and focusing on developments.
The government has been enhancing equity in land use and publicness through road projects such as the Gwangmyeong-Seoul Expressway, which started construction in 2019, and the Jecheon-Yeongwol Expressway which passed a preliminary feasibility study last year. Increased efficiency.
According to the situation in which 96.5% of the current transport sector's greenhouse gas emissions are generated on roads, it is expected that a reduction effect can be expected through the operation of exclusive lanes for trucks and the construction of ICs for trucks.
In particular, in response to the rapid demographic change in Korean society and the demand for easing the disparity in the extinction region and congestion in the metropolitan area due to overcrowding in the metropolitan area, the low-carbon road logistics system, digital road asset maintenance, wide area transportation network maintenance, and three-dimensional road project are necessary.
Scope of the Report
The transport infrastructure construction market includes many activities associated with the construction of roads, railways, airports, and other related infrastructure. The South Korean transportation infrastructure construction market is segmented by application and mode. By application, the market is segmented into urban and rural. By mode, the market is segmented into roadways, railways, airways and ports, and inland waterways. The report offers market size and forecast for the South Korean transportation infrastructure construction market in value (USD Billion) for all the above segments.
|Ports and Inland Waterways|
Key Market Trends
New Highways in Pipeline
With the goal of becoming a 'safe and convenient future transportation platform company,' Korea Expressway Corporation is concentrating its efforts on building 'smart roads' equipped with autonomous driving and big data functions and solar highways. In addition, it plans to introduce a next-generation sales system that enables automatic payment of tolls even when driving at high speeds. In particular, to minimize the decrease in sales due to COVID-19, the Hanam Dream Transit Center and Smart Logistics Center will also promote facility infrastructure projects.
The Road Corporation is promoting the establishment of 16 new highways, including 62km between Sejong and Anseong, through the National Treasury Project. When the 16 lines are completed, the total length will reach 520.88 km. In addition, the six-lane expressway project, including the Namhae Line (Chilwon-Changwon), the Honam Line (Gimje-Samrye), and the Jungbu Line (Seocheongju-Jeungpyeong), is in the feasibility and basic design stage.
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Opportunity Through New Rail-Road Deal
Korea Railroad (KORAIL) is putting a strong drive on the 'Korea Railroad New Deal' project in line with the government's Korean version of the New Deal. This is because the railroad encompasses all of the 'digital,' 'green,' and 'regional balance' of the New Deal. Through this, the two rabbits of post-coronavirus and future growth will be caught.
Due to COVID-19, the number of KTX passengers last year decreased by about 40% compared to the previous year, and the decrease in sales reached 1.3 trillion won last year. In order to transform it into an opportunity for growth, we will focus on securing a sustainable growth engine while promoting management improvement through intensive cost reduction.
In fact, Korea Rail has identified five core areas, such as intelligent safety management, smart maintenance, intact service, eco-friendly railway, and creating good jobs, and divided them into 'digital,' 'green' and 'regional balance' for a total of 30 tasks. Has been selected and promoted. Through this, it plans to create a total of 20,000 new jobs by investing 2.3 trillion won by 2025.
The South Korean transportation infrastructure construction market is fragmented, with several national and international players in it. It is expected to show steady growth during the forecast period owing to the increasing amount of government investments in the sector. There is always room for small players to enter the market due to several projects on the line. Some of the key players in the market include Samsung C&T, Hyundai E&C, Daaelim Industrial, GS E&C, and Daewoo E&C, among others.
November 2021: South Korea’s construction conglomerate GS E&C Co. announced that it has selected Korean private equity firm Glenwood PE as a financial investor (FI) to acquire a 60% stake in S&I Construction and Engineering under S&I Corporation, a subsidiary of Korean conglomerate LG Group. Out of the total 400 billion won (USD 338.9 million) acquisition, GS E&C will pay 300 billion won while Glenwood PE will pay the remaining 100 billion won. The two buyers plan to complete the deal, which is the first merger and acquisition case between GS and LG, by the end of 2022.
November 2021: Samsung C&T Construction Division announced on November 18 that it has introduced robot technology to the construction site in order to perform high-risk tasks. Samsung C&T has commercialized an Access Floor construction robot (Floor robot). Access Floor is a double-floor system, and the work is done in such a way that the upper panel is covered after installing a support at a certain height from the lower floor.
Table of Contents
1.1 Study Assumptions
1.2 Scope of Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Market Dynamics
4.3 Value Chain / Supply Chain Analysis
4.4 Industry Policies and Regulations
4.5 Technological Developments in the Sector
4.6 Industry Attaractiveness - Porter's Five Forces Analysis
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Mode
5.1.4 Ports and Inland Waterways
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Overview (Overall Market Share, Market Concentration and Major Players, and Companies' Comparison Analysis)
6.2 Company Profiles
6.2.1 Samsung C&T
6.2.2 Hyundai E&C
6.2.3 Daelim Industrial
6.2.4 GS E&C
6.2.5 Daewoo E&C
6.2.6 POSCO E&C
6.2.7 Lotte E&C
6.2.8 Hoban Construction
6.2.9 Hanwha Engineering&Construction
6.2.10 DL E&C*
6.3 Other Companies (Overview/Key Information)
7. FUTURE OF SOUTH KOREA TRANSPORTATION INFRASTRUCTURE CONSTRUCTION MARKET
8.1 Macroeconomic Indicators (GDP Distribution by Activity, Contribution of Transport and Storage Sector to economy)
8.2 E-commerce and Consumer Spending-related Statistics
8.3 External Trade Statistics - Export and Import, by Product and by Country
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Frequently Asked Questions
What is the study period of this market?
The South Korea Transportation Infrastructure Construction Market market is studied from 2018 - 2027.
What is the growth rate of South Korea Transportation Infrastructure Construction Market ?
The South Korea Transportation Infrastructure Construction Market is growing at a CAGR of >3.5% over the next 5 years.
Who are the key players in South Korea Transportation Infrastructure Construction Market ?
Samsung C&T, Hyundai E&C, Daaelim Industrial, GS E&C, Daewoo E&C are the major companies operating in South Korea Transportation Infrastructure Construction Market .