The Saudi Arabia prefabricated building and structural steel market size reached US$ 1,758.4 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,513.6 Million by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 1,758.4 Million
Market Forecast in 2032
US$ 2,513.6 Million
Market Growth Rate 2024-2032
3.9%
Prefabricated buildings are structures that are manufactured off-site, and then transferred and assembled on the construction site. On the other hand, structural steel represents the basic framework wherein prefabricated parts are installed. As compared to conventionally constructed buildings, these structures offer numerous advantages, which include durability, design flexibility, ease of expansion, weather resistance, efficient material utilization, minimal maintenance and eco-friendly nature. These advantages, in confluence with rapid urbanization and escalating population, are increasing the usage of these structures in the construction of offices, housing complexes, camp facilities and warehouses in Saudi Arabia.
The economy of Saudi Arabia has primarily relied on the oil and gas industry for generating wealth. However, the Government started diversifying the economy after the fall of oil prices in 2014. As a result, it is investing in alternative sources of income by introducing infrastructural projects, such as Vision 2030, and the development of NEOM City, Jeddah Waterfront and Entertainment City. Furthermore, on account of the growing population and the increasing influx of expatriates, there is a rise in the shortage of affordable housing in Saudi Arabia. This, in confluence with the advantages offered by prefabricated building and structural steel such as affordable price point and time efficiency, has escalated the demand for prefabricated buildings in the country. Apart from this, owing to the rising environmental concerns, there is an increase in the adoption of prefabricated buildings as they do not generate any on-site waste.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Saudi Arabia prefabricated building and structural steel market report, along with forecasts at the regional and country levels from 2024-2032. Our report has categorized the market based on component and end use.
Breakup by Component:
Prefabricated Building:
Floors and Roof
Walls
Staircase
Panels and Lintels
Others
Structural Steel:
H-Type Beam
I-Type Beam
Columns
Angles
Others
At present, floors and roofs, and H-type beams account for the majority of the total market share in the Saudi Arabia prefabricated building and structural steel markets, respectively.
Breakup by End Use:
Residential
Institutional
Commercial
Industrial
The residential sector exhibits a clear dominance in the market, on account of rapid urbanization and the increasing number of expatriates in the country.
Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
Saudi Building Systems Mfg. Co.
Red Sea Housing Services
Kirby Building Systems
Zamil Steel Pre-Engineered Buildings Co. Ltd.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Million, ‘000 Units, Million Tons
Segment Coverage
Component, End Use
Companies Covered
Saudi Building Systems Mfg. Co., Red Sea Housing Services, Kirby Building Systems and Zamil Steel Pre-Engineered Buildings Co. Ltd.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3699
Five User License: US$ 4699
Corporate License: US$ 5699
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The Saudi Arabia prefabricated building and structural steel market was valued at US$ 1,758.4 Million in 2023.
We expect the Saudi Arabia prefabricated building and structural steel market to exhibit a CAGR of 3.9% during 2024-2032.
The rising consumer awareness towards numerous benefits of using prefabricated material and structural steel, such as enhanced flexibility, improved durability, high energy efficiency, etc., is primarily driving the Saudi Arabia prefabricated building and structural steel market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in numerous construction activities, thereby negatively impacting the Saudi Arabia market for prefabricated building and structural steel.
Based on the component, the Saudi Arabia prefabricated building market can be bifurcated into floors and roof, walls, staircase, panels and lintels, and others. Currently, floors and roof holds the majority of the total market share.
Based on the component, the Saudi Arabia structural steel market has been segmented into H-type beam, I-type beam, columns, angles, and others. Among these, H-type beam currently exhibits a clear dominance in the market.
Based on the end use, the Saudi Arabia prefabricated building and structural steel market can be divided into residential, institutional, commercial, and industrial. Currently, residential accounts for the largest market share.
Some of the major players in the Saudi Arabia prefabricated building and structural steel market include Saudi Building Systems Mfg. Co., Red Sea Housing Services, Kirby Building Systems, Zamil Steel Pre-Engineered Buildings Co. Ltd., etc.
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