Computers & Semiconductors, Transportation Systems Lead Global Industrial Manufacturing Industry in 2022 Construction Starts
With a global shortage of semiconductors, it's no wonder companies are jumping on the bandwagon to build more fabrication plants, with more than $50 billion of semiconductor and computer manufacturing projects set to kick off in 2022 in the U.S. alone. Expanded to the entire globe, this figure rises to more than $193 billion worth of projects. In an interview with news media earlier this year, Intel Corporation (NASDAQ:INTC) (Santa Clara, California) Chief Executive Officer Pat Gelsinger said he now expects the chip shortage to last into 2024--around the time many fabrication plants are set to come online.
In the U.S., one of the biggest semiconductor projects to kick off this year that is presently underway is Wolfspeed Incorporated's (NYSE:WOLF) (Durham, North Carolina) expansion of its semiconductor manufacturing plant in Durham, North Carolina. The project consists of a number of items, including installing a new building and additional production and supporting equipment to fabricate 200-millimeter wafers and provide 18 times more manufacturing space than is currently available. The project kicked off at the start of this year and is expected to be completed in mid-2024. Subscribers to Industrial Info's Global Market Intelligence (GMI) Industrial Manufacturing Project Database can click here for the detailed report.
But even larger projects are in the works, poised to begin in the coming months, such as Samsung Group's (Suwon, South Korea) grassroot semiconductor manufacturing plant in Taylor, Texas, northeast of Austin. The project entails constructing a 2.5 million-square-foot fabrication plant to manufacture chips for next-generation devices with features such as 5-G mobile technology, high-performance computing and artificial intelligence, as well for as automotive and other sectors. Construction is set to kick off this summer and is expected to take about two years to complete. Subscribers can click here for the detailed report.
Globally, while China ranks first in regard to the value of semiconductor and computer projects planned to kick off this year, this is followed by the U.S. and Japan. In Japan, among the projects underway is Taiwan Semiconductor Manufacturing Company Limited's (NYSE:TSM) (Hsinchu, Taiwan) grassroot semiconductor production plant in Kikuyo, which will have a monthly production capacity 45,000 12-inch wafers upon completion, which is planned for the end of 2024. Construction kicked off earlier this year. Subscribers can click here for the report.Transportation Systems
As the COVID-19 pandemic and its unending variations and hotspots becomes the "new normal" for the world and people once again become more open to travelling en masse in the form of light rail or airplanes, transportation projects also rank highly in the value of projects planned to kick off in 2022, with more than $197 billion worth planned to kick off this year across the globe.
While public sector transportation and airline travel took a hit at the onset of the COVID-19 pandemic, many of the projects that were planned or underway are long-term. Many began in prior years and/or will last for years to come. Several of the highest-value transportation projects kicking off this year are in the U.S., including the $8.5 billion terminal expansion at the Chicago O'Hare International Airport in Illinois. Three new concourses will help make way for large, international aircraft. According to the Chicago Tribune, the project is the largest and most expensive project in the airport's history. It is expected to wrap up in 2028. Subscribers can click here for the detailed report.
Other large U.S. transportation projects kicking off this year include Valley Transportation Authority's (San Jose, California) Phase II extension of its BART Silicon Valley light rail system in California, which includes construction of 16 miles of track, three new underground stations in San Jose and a surface station in Santa Clara. Construction is set to begin later this year and be wrapped up in 2030. Subscribers can click here for the detailed report.
Notable transportation projects with an international flair include a new airport in Busan, South Korea. Construction entails establishing a 7 million-square-meter passenger terminal, along with runways and an air traffic control tower. The first phase of the project, which is set to be completed in 2026, is being constructed, in part, to facilitate transportation to and from the 2030 World Expo, an international exhibition that will be held in Busan in 2030 with nations from around the world participating. Construction is set to kick off later this year. Subscribers can click here for the detailed report.