Pollution Control Equipment Market in South Korea

A Hot Tip about Environmental Technologies in South Korea

Posted on: 5 Jan 2010

Overview

As Korea forges ahead with its economic stimulus campaign, the Government has signaled that environmental projects and the development of green technologies will be a key priority to create jobs and to develop a greater technology base from which to better recover in the current global downturn in the economy. The South Korean Government announced its “Green New Deal”, which intends to develop environmental projects to spur economic growth in the current economy.

 

CS Korea estimates the size of the pollution control equipment industry at USD 9.4 billion in 2008. According to industry experts, imports account for about 10 percent of the total market. Japan is the principal foreign suppler with about a 47 percent market share, followed by the U.S. with a 32 percent market share, Germany and France.

 

Local environmental equipment manufacturers in Korea have supplied a major portion of environmental projects with medium-level technology and medium-cost products. While they have significantly improved their technology prowess, mostly through technology transfer and merger with non-Korean suppliers, they still lack the core technologies to supply the products that meet the government’s stringent regulatory requirements, and are seeking more advanced import products and technologies.

 

Best Products/Services

  • Volatile organic compounds (VOCs) control in oil-refineries and petrochemical plants
  • Dioxin abatement in municipal and industrial incinerators
  • Advanced sulfur oxides/nitrogen oxides abatement in power plants and steel mills
  • Energy saving and waste-to-energy in steel mills and municipal landfills
  • Pollution-free and low-emission vehicles in engineering technology, engine components and parts for CNG; pollution abatement technologies for automobile, oil refinery industries
  • Advanced water pollution control technology
  • Environmentally friendly construction materials

 

Opportunities

The Korean government plays a key role in the pollution control equipment industry, as the regulatory body. It is also the second biggest end-user in this category behind the Korean industry. Based on Bank of Korea’s statistics, CS Korea estimates the 2008 expenditure on environmental protection by Korean industry and Korean government at about USD 15 billion and USD 13 billion each, which is about 51% and 43% of total national expenditures.

 

For government projects, the tenders are announced on the Korean government procurement (PPS) website with detailed information on the project scope and contact information.

 

To enter the pollution control equipment market, U.S. suppliers are strongly recommended to partner with qualified and capable Korean companies who maintain their existing sales network to serve end-users, and are fully aware of regulatory changes that drive the market. Exhibiting at local environmental trade shows can be a good platform to explore the market as well as gain exposure to end-users.

 

 

Read the full market research report


Posted: 05 January 2010

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