South Korea Construction Market 2023-2027

Construction Market in South Korea 2023-2027

Technavio has been monitoring the construction market in South Korea and is forecast to grow by $ 50.9 bn during 2022-2027, accelerating at a CAGR of 4.79% during the forecast period. Our report on the construction market in South Korea provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for modular houses, the adoption of dry construction techniques, and an increase in the number of smart cities.

Technavio's construction market in South Korea is segmented as below:

By Type

• Private
• Public

By End-user

• Residential
• Non-residential
• Civil works

This study identifies the increase in public infrastructure spending by the government as one of the prime reasons driving the construction market growth during the next few years. Also, adoption of new technologies and materials and growing infrastructural development in South Korea will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the construction market in South Korea covers the following areas:

• Construction market sizing
• Construction market forecast
• Construction market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading construction market in vendors that include Bumwood Co. Ltd., Daewoo E and C, DL Group, DPR Construction, GS E and C Corp., Gyeyang Co. Ltd., Hanwha Corp., HL D and I Halla, Hyundai Development Co., LOTTE Engineering and Construction Co. Ltd., MUNYOUNG Corp., Namkwang Construction Co. Ltd., POSCO, Samsung Electronics Co. Ltd., SGC eTEC E and C, and SK ecoplant CO. LTD. Also, the construction market in South Korea analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.