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Report
Southeast Asia Repair and Rehabilitation Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 100 Pages I Mordor Intelligence
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.
Key Highlights
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.
Southeast Asia Repair & Rehabilitation Market Trends
The Rising Demand for Infrastructure Repair and Rehabilitation
The Southeast Asia repair and rehabilitation market is expected to grow significantly over the forecast period due to the increasing demand for infrastructure development. The region experienced tremendous urbanization, raising the need for infrastructural development.
As a result, the region includes a greater demand for repair and rehabilitation services. The market is likely to be driven by increased government initiatives and investments in infrastructure development. Governments in the region are investing extensively in infrastructure projects such as roads, bridges, airports, and trains.
According to the Global Infrastructure Outlook, critical Southeast Asian countries (Singapore, Indonesia, Thailand, the Philippines, and Malaysia) spent USD 479.3 billion between 2017 and 2021. Indonesia led with USD 262 billion, Thailand with USD 69 billion, and Malaysia with USD 64 billion.
Thailand made a significant investment in infrastructure in recent years. Thailand proposed funding 37 infrastructure projects totaling USD 45 billion as part of a national infrastructure overhaul in 2022.
Overall, the increasing population will generate the need for new infrastructure and maintenance of existing infrastructure, boosting demand for the repair and rehabilitation sector.
Indonesia is Anticipated to Hold a Major Market Share
Indonesia's infrastructure repair and rehabilitation market are predicted to increase due to increasing government attempts to upgrade the country's infrastructure, rising investments in infrastructure projects, and rising demand for repair and rehabilitation services.
The Indonesian government undertook several projects to improve the country's infrastructure. The government initiated many tasks to improve Indonesia's infrastructure, such as the National Strategic Projects (NSPs). Among the NSPs are the Trans-Sumatra Toll Road, the Trans-Java Toll Road, and the Trans-Kalimantan Toll Road. These projects are likely to have a favorable impact on the Indonesian infrastructure repair and rehabilitation sector.
In recent years, Indonesia made significant investments in infrastructure development. Between 2017 and 2021, the government spent USD 262 billion on infrastructure developments, emphasizing modernizing roads, ports, airports, trains, and power plants. According to the Global Infrastructure Hub, in 2021, infrastructure spending in Indonesia amounted to USD 55 billion.
Indonesia's residential sector is multiplying, driven by a growing population and rising incomes. The government implemented policies encouraging affordable housing development, including tax incentives for developers and subsidies for low-income households.
Considering all the above factors, the demand for repair and rehabilitation is anticipated to expand during the forecast period.
Southeast Asia Repair & Rehabilitation Market Competitor Analysis
The repair and rehabilitation market in Southeast Asia is partially fragmented in nature. Some of the major players in the market include CHEC Construction (M) Sdn Bhd, Gamuda Berhad, Penta-Ocean Construction Co., Ltd., PT Pembangunan Perumahan (Persero) Tbk, PT. Surya Cipta Teknik, PT Jaya Teknik Indonesia, and PT Waskita Karya (Persero) Tbk, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Trends of Renovation of Residential Buildings
4.2 Restraints
4.2.1 Lack of Skilled Labors
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Product Type
5.1.1 Injection Grouting Materials
5.1.1.1 Cement-based
5.1.1.2 Resin-based
5.1.2 Modified Mortars
5.1.2.1 Cement-based
5.1.2.2 Resin-based
5.1.3 Fiber Wrapping Systems
5.1.3.1 Carbon Fiber
5.1.3.2 Glass Fiber
5.1.4 Rebar Protectors
5.1.5 Micro-concrete Motars
5.1.6 Other Product Types
5.2 Application
5.2.1 Commerical
5.2.2 Industrial
5.2.3 Infrastruture
5.2.4 Residential
5.3 Geography
5.3.1 Indonesia
5.3.2 Thailand
5.3.3 Philippines
5.3.4 Malaysia
5.3.5 Rest of Southeast Asia
6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 CHEC Construction (M) Sdn Bhd
6.4.2 China Harbour Engineering Company Ltd.
6.4.3 China State Construction Engineering Corporation
6.4.4 Gamuda Berhad
6.4.5 Penta-Ocean Construction Co. Ltd.
6.4.6 PT Pembangunan Perumahan (Persero) Tbk
6.4.7 PT Surya Cipta Teknik
6.4.8 PT Jaya Teknik Indonesia
6.4.9 PT Waskita Karya (Persero) Tbk
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Repair and rehabilitation of Old and Historic Monuments
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