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South Korea Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Publisher GlobalData
Published Dec 23, 2024
Length 52 Pages
SKU # GBDT19550462

Description

South Korea Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Summary

GlobalData’s Construction in South Korea - Key Trends and Opportunities to 2028 (Q4 2024) 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
The South Korean construction industry is expected to contract by 1.9% in real terms in 2024 and 1.2% in 2025, owing to a decline in the total building permits issued, rising construction costs, increasing bankruptcies, coupled with a weak residential construction sector. According to the Korean Statistical Information Service (KOSIS), the total number of building permits issued in the country fell by 12.6% year on year (YoY) in the first ten months of 2024, while the total gross floor area of construction permits issued declined by 10.3% YoY over the same period. Among all the sectors, residential building permits alone declined by 17.9% YoY during January-October 2024, following YoY declines of 10.9% in commercial building permits and 4.6% in industrial buildings permits issued over the same period. Additionally, from January to October 2024, 26 construction companies declared bankruptcy, up from 23 construction companies registered bankruptcy in 2023. The construction industry is also expected to be slowed in the short term, owing to the rising unsold houses in the country. The total number of unsold homes in the country accounted to 617,904 during January-September 2024, up by 0.6% YoY compared to the same period of 2023, according to the Ministry of Land, Infrastructure and Transport.

However, over the remainder of the forecast period, the construction industry in South Korea is expected to register an annual average growth rate of 2.6% from 2026 to 2028, driven by public and private sector investments in the renewable energy, transport infrastructure and semiconductor industries. The industry’s growth will be supported by the government’s efforts to achieve net zero carbon emissions by 2050, by increasing the share of renewable energy in the country to 21.6% by 2030 and 32.9% by 2038

Scope

This report provides a comprehensive analysis of the construction industry in South Korea. It provides -
  • Historical (2019-2023) and forecast (2024-2028) 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 our 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 business strategies using GlobalData's critical and actionable insight
  • Assess business risks, including cost, regulatory and competitive pressures
  • Evaluate competitive risk and success factors

Table of Contents

52 Pages
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 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
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
About GlobalData
Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Oman, Key Economic Indicators
Table 3: Oman, Commercial Construction Output by Project Type (Real % Change), 2019-28
Table 4: Oman, Top Commercial Construction Projects by Value
Table 5: Oman, Industrial Construction Output by Project Type (Real % Change), 2019-28
Table 6: Oman, Top Industrial Construction Projects by Value
Table 7: Oman, Infrastructure Construction Output by Project Type (Real % Change), 2019-28
Table 8: Oman, Top Infrastructure Construction Projects by Value
Table 9: Oman, Energy and Utilities Construction Output by Project Type (Real % Change), 2019-28
Table 10: Oman, Top Energy and Utilities Construction Projects by Value
Table 11: Oman, Institutional Construction Output by Project Type (Real % Change), 2019-28
Table 12: Oman, Top Institutional Construction Projects by Value
Table 13: Oman, Residential Construction Output by Project Type (Real % Change), 2019-28
Table 14: Oman, Top Residential Construction Projects by Value
Table 15: Oman, Key Contractors
Table 16: Oman, Key Consultants
Table 17: Oman, Construction Output Value (Real, $ Million)
Table 18: Oman, Construction Output Value (Nominal, OMR Million)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: North-East Asia, Construction Output (Real % Change), 2022-28
Figure 2: South Korea, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
Figure 3: South Korea, Risk Summary
Figure 4: South Korea, Risk Regional Comparison
Figure 5: South Korea, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
Figure 6: South Korea, Construction Output Value, by Sector (Real, $ Million), 2019-28
Figure 7: South Korea, Construction Value-Add (KRW Trillion, 2020 Chained Prices, Unadjusted)
Figure 8: South Korea, Construction Production Index (2015=100)
Figure 9: South Korea, Total Value of Construction Completed, Constant Prices, KRW Billion, % Change, YoY
Figure 10: South Korea, Total Value of Construction Orders Received (Current Prices, KRW Billion)
Figure 11: South Korea, Total Number of Building Construction Permits
Figure 12: South Korea, Construction Projects Momentum Index
Figure 13: North-East Asia, Construction Projects Momentum Index
Figure 14: South Korea, Commercial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 15: South Korea, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: South Korea, Gross Floor Area of Commercial Construction Permits, In Thousand m2
Figure 17: South Korea, Retail Sales Value and Volume Index, (2015=100)
Figure 18: South Korea, Industrial Construction Output by Project Type (Real, $ Million), 2019-28
Figure 19: South Korea, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: South Korea, Gross Floor Area of Industrial Construction Permits, In Thousand m2
Figure 21: South Korea, Manufacturing Value-Add (KRW Billion, 2020 Chained Prices, Unadjusted)
Figure 22: South Korea, Industrial Production Index (2015=100)
Figure 23: South Korea, Total exports ($ Billion)
Figure 24: South Korea, Total Value of Construction Contracts Received for Industrial Plants, (KRW Billion), In Current Prices
Figure 25: South Korea, Infrastructure Construction Output by Project Type (Real, $ Million), 2019-28
Figure 26: South Korea, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 27: South Korea, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019-28
Figure 28: South Korea, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: South Korea, Institutional Construction Output by Project Type (Real, $ Million), 2019-28
Figure 30: South Korea, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 31: South Korea, Gross Floor Area of Permits Issued for Educational and Social Use, In Thousand m2
Figure 32: South Korea, Education Sector Value-Add (KRW Billion, 2020 Chained Prices, Unadjusted)
Figure 33: South Korea, Human Health and Social Work Activities Value-Add (KRW Billion, 2020 Chained Prices, Unadjusted)
Figure 34: South Korea, Residential Construction Output by Project Type (Real, $ Million), 2019-28
Figure 35: South Korea, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 36: South Korea, Residential Construction Permits (Total Number)
Figure 37: South Korea, Real Estate Value-Add (KRW Trillion, 2020 Chained Prices)
Figure 38: South Korea, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 39: South Korea, Headquarters of Key Consultants (% of Total Project Pipeline)

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