DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Piling and Foundation Market in Malaysia 2015-2019” report to their offering.
The analysts forecast the Piling and Foundation market in Malaysia to grow at a CAGR of 9.41% over the period 2014-2019.
Piling and foundation services form an important part of any construction activity and constitute about 10 percent of the overall construction spending. The project span ranges from 6 months to 1.5 years depending upon the size of the contract awarded. Foundations support structures and transfer their load to layers of soil or rock with sufficient settlement characteristics.
This report covers the present scenario and the growth prospects of the Piling and Foundation market in Malaysia for the period 2015-2019. To calculate the market size, the report considers revenue generated from piling and foundation services provided by vendors in the country.
Increase in public-private partnership projects is one of the key trends upcoming in the market. To optimize the output of the industry, the government is investing in public-private partnership projects. These projects ease the norms of transferring land and other regulatory processes involved, allowing the acceleration of infrastructure projects in the Railways, Civil Aviation, and Ports sectors, which are required to boost economic growth.
According to the report, rapid urbanization is one of the key drivers propelling the growth of the market in Malaysia. Rapid urbanization has led to a rise in the construction of megastructures and high-quality infrastructures. It has also created an upsurge in the Residential sector, and has elevated the demand for high-quality infrastructure such as affordable and luxury housing.
Further, the report states that lack of a skilled labor force is affecting the market considerably. Vendors are dependent on foreign workers for piling and foundation work. Lack of proper finances coupled with slow payment procedures hinders the training and skill development activities of workers.
Factors such as the location and type of structure, durability of the materials, the ground conditions, and the associated costs decide the choice of piles. Off-shore applications use driven piles and are stable in soft squeezing soils. Bored piles are more popular in urban areas with minimal vibration.