Market Size of Southeast Asia Repair and Rehabilitation Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Southeast Asia Repair & Rehabilitation Market Analysis
Southeast Asia's repair and rehabilitation market are projected to register a CAGR of over 3% during the forecast period.
The economic slowdown and supply chain disruption caused by COVID-19 substantially influenced the repair and rehabilitation business. Many businesses have had to reduce their spending on repairs and maintenance and postpone or cancel projects. As a result, there is less need for repair and rehabilitation services. However, the market rebounded in 2021 as construction activities were started. With the reopening of enterprises, the market for repair and restoration services expanded.
- Over the short term, growth in the renovation of residential buildings and the ongoing restoration of several monuments and heritage sites are significant factors driving the market growth.
- However, the market is hindered due to a lack of skilled personnel. Although the region includes a large population, most residents are unskilled or semi-skilled. It means there are not enough experienced technicians to handle repairs and rehabilitation.
- Nevertheless, future market growth is expected to be aided by rising demand for repair and rehabilitation services from the healthcare sector. Furthermore, the growing senior population in Southeast Asia is likely to increase the demand for repair and rehabilitation services.
- Indonesia is expected to lead the market during the anticipated timeframe.
