South Korea Construction, Port And Mining Equipment Market (2019-2025) | Growth, Trends, Companies, Outlook, Revenue, Analysis, Industry, Value, Share, Size & Forecast

Latest (2024) Development in the South Korea Construction, Port And Mining Equipment Market

The South Korea Construction, Port And Mining Equipment Industry has experienced massive development, driven by large-scale urban development projects and the expansion of port facilities. Also, the government’s initiative to modernize its infrastructure, coupled with substantial investment in smart city technologies, has fueled demand for advanced construction machinery. Innovations in automation and AI integration have led to more efficient and safer equipment, revolutionizing practices in the construction and mining sectors. Furthermore, the increased focus on sustainable machinery has impelled manufacturers to develop equipment with lower emissions and higher energy efficiency, aligning with global environmental standards. Moreover, the government has also introduced policies to promote the use of locally manufactured equipment, providing a significant boost to domestic manufacturers. This has created a highly competitive market, driving innovation and technological advancements in construction, port, and mining equipment.

South Korea construction, port, and mining equipment market Synopsis

South Korea construction, port, and mining equipment market is predicted to grow owing to an increase in the country’s contribution to the growing seaborne trade coupled with government investment for the expansion of Busan port in terms of capacity. Moreover, growing emission levels have raised a concern in South Korea which increases the scope of technological advancement in the machinery involved in the construction, mining, and port sectors of the country. This, in turn, would spur the demand for construction equipment in the country.

According to 6Wresearch, South Korea Construction, Port And Mining Equipment Market size is projected to grow at a CAGR of 2.8% during 2019-25. The Port Equipment segment would witness the highest growth during the forecast period owing to an increase in the import, export, and transshipment activity of the country coupled with the government’s plan to invest KRW 13.6 trillion for the expansion of the mega port project in Busan.

By mobile cranes market, the wheeled mobile cranes accounted for the majority of the revenue share in 2018, as the wheeled cranes have the capability of transporting the goods easily from one place to another, have high loading capacities, and can be used in any kind of terrane. By air compressor market, the rotary air compressor dominated the market in 2018, in terms of revenue. The rotary air compressors use a positive displacement mechanism. These compressors are more prominent for the application of supply of air for larger industrial applications including mining, operating electrical machinery amongst others.

 The report thoroughly covers South Korea construction, mining & port equipment market by equipment type and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers, which would help stakeholders to device and align their market strategies according to the current and future market dynamics.

Government Initiatives introduced in the South Korea Construction, Port and Mining Equipment Market

The Korean government has introduced various policies and programmes to promote infrastructure development and attract foreign investments. For instance, the government has announced a joint venture between the Korea Expressway Corporation (KEC) and Macquarie Infrastructure and Real Assets (MIRA) to fund solar photovoltaic power facilities. The Korean government's efforts to facilitate financial and technical support for SMEs in the construction sector have also boosted the South Korea Construction, Port and Mining Equipment Market growth.

Key Players in the South Korea Construction, Port and Mining Equipment Market

The South Korea construction, port, and mining equipment market are dominated by leading players, including Hyundai Heavy Industries, Doosan Heavy Industries & Construction, Samsung C&T Corporation, Hyundai Engineering & Construction, and Posco Engineering & Construction. These key players have a significant market share due to their high technological advancements in the field and broad product portfolio.

Market Analysis by Mobile Crane

According to Dhaval, Research Manager, 6Wresearch, both crawler and wheeled mobile cranes have their unique features like versatile and powerful, which help workers lift loads safely and efficiently. However, crawler mobile cranes dominate the mining and construction industries, while wheeled mobile cranes are commonly used in urban construction.

Market Analysis by Underground Mining Equipment

Based on the Underground Mining Equipment, wheeled loaders have proven to be an asset for the market due to their versatility, efficiency, and power, they make it easier and more cost-effective for companies to complete various tasks.

Market Analysis by Air Compressor

Based on the air compressor stationary air compressors are at the forefront of this growth. High efficiency, increased productivity, eco-friendliness, accessibility, and improved safety measures are contributing factors to this trend.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2015 to 2018.
• Base Year: 2018.
• Forecast Data until 2025.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Reports:

• South Korea Construction, Port and Mining Equipment Market Overview
• South Korea Construction, Port and Mining Equipment Market Outlook
• South Korea Construction, Port and Mining Equipment Market Forecast
• South Korea Construction, Port and Mining Equipment Market Size
• South Korea Construction, Port and Mining Equipment Market Share, By kVA rating
• South Korea Construction, Port and Mining Equipment Market Forecast of revenues until 2025
• Historical Data of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume for the Period 2015-2018
• Market Size & Forecast of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume until 2025
• Historical Data of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Port Equipment, for the Period 2015-2018
• Market Size & Forecast of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Port Equipment, until 2025
• Historical Data of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Underground Mining Equipment, for the Period 2015-2018
• Market Size & Forecast of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Underground Mining Equipment, until 2025
• Historical Data of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Surface Drilling and Tunnel Rock Drilling Equipment, for the Period 2015-2018
• Market Size & Forecast of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Surface Drilling and Tunnel Rock Drilling Equipment, until 2025
• Historical Data of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Mobile Cranes, for the Period 2015-2018
• Market Size & Forecast of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Mobile Cranes, until 2025
• Historical Data of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Air Compressors, for the Period 2015-2018
• Market Size & Forecast of South Korea Construction, Port and Mining Equipment Market Revenues, and Volume, by Air Compressors, until 2025
• Market Drivers and Restraints
• Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Market Player’s Revenue Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

South Korea Construction, Port and Mining Equipment Market Report Covered:

The report provides a detailed analysis of the following market segments:

• By Equipment:

  • Port Equipment:

    • Cranes

      • Ship to Shore Gantry Cranes
      • Ship to Mobile Harbor Cranes
      • Rail Mounted Gantry Cranes
      • Rubber Tired Gantry Cranes
    • Ship Loaders
    • Forklift Trucks
    • Container Lift Trucks
      • Empty Container Lift Trucks
      • Laden Container Lift Trucks
    • Reach Stackers
    • Other Port Equipment (Tug Boats, Mooring Systems, etc.)

  • Underground Mining Equipment

    • Drills
    • Electric Mining Shovels
    • Dozers
    • Dump Trucks
    • Wheeled Loaders

  • Surface Drilling and Tunnel Rock Drilling Equipment

    • Tophammer Drill Rigs
    • Down-the-hole Drill Rigs
    • COPROD Drill Rigs
    • Blast Hole Drill Rigs
    • Tunnel Rock Bolting Rigs

  • Mobile Cranes

    • Crawler Mobile Cranes
    • Wheeled Mobile Cranes

  • Air Compressor

    • By Type

      • Portable Air Compressor
      • Stationary Air Compressor

    • By Technology

      • Rotary Air Compressor
      • Centrifugal Air Compressor
      • Reciprocating Air Compressor

  • By Regions:

    • • Northern
      • Central
      • Southern