Saudi Arabia Prefabricated Building and Structural Steel Market Report and Forecast 2024-2032

Saudi Arabia Prefabricated Building and Structural Steel Market Outlook

The Saudi Arabia prefabricated building and structural steel market size reached a value of almost USD 1.97 billion in the year 2023. The prefabricated building and structural steel market in the region is further expected to grow at a CAGR of 5.20% between 2024 and 2032 to reach a value of almost USD 3.11 billion by 2032.

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The prefabricated building and structural steel industry in Saudi Arabia is driven by the rising demand for urban housing. The industry is further invigorated by the increasing investments made by the government of Saudi Arabia in the alternate sources of income by introducing infrastructural projects, like Vision 2030 and the development of Jeddah Waterfront, NEOM City, and Entertainment City.

Properties and Applications

Prefabricated buildings are referred to as the structures that are manufactured off-site to be later transferred and assembled on the construction site. Structural steel, on the other hand, represents the basic framework wherein prefabricated parts are installed. These structures offer numerous advantages in comparison to traditionally constructed buildings, which include durability, ease of expansion, design flexibility, efficient material utilisation, weather resistance, minimal maintenance, and eco-friendly nature.

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On the basis of product type, the prefabricated building industry is divided into:

• Floors and Roof
• Walls
• Staircase
• Panels and Lintels
• Others

On the basis of the component, the structural steel industry is divided into:

• H-Type Beam
• I-Type Beam
• Columns
• Angles
• Others

Presently, floors and roofs, and H-type beams hold the largest market share in their respective segments of the prefabricated building and structural steel industry in Saudi Arabia.

The prefabricated building and structural steel are segmented on the basis of the end-use sector into:

• Residential
• Institutional
• Commercial
• Industrial

Amongst these, the residential sector represents a clear dominance in the industry due to rapid urbanization and the growing number of expatriates in the country.

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Market Analysis

The Saudi Arabia prefabricated building and structural steel market is driven by the rising unavailability of affordable housing as the population is rising, along with the inflow of expatriates, which has created a demand for prefabricated homes in Saudi Arabia. The industry is further aided by the environment-friendly nature of prefabricated buildings as compared to conventionally constructed buildings, owing to nil production of any on-site waste or requirement for fuel for the machines, which emit harmful gases. This will also aid the industry growth of the prefabricated building and structural steel market in the forecast period. In addition to this, these materials are cost-effective, energy, and time-efficient, and easy to install, further leading to the industry growth.

The prefabricated building and structural steel industry in Saudi Arabia is finding impetus in the rising urbanisation and ongoing and upcoming infrastructural projects, which are expected to enhance the market growth for prefabricated structures during the forecast period. The industry may find hindrance due to factors like the lack of financing options and durability issues in Saudi Arabia.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report covers the macro and micro aspects of the industry by looking into the historical (2018-2023) and forecast (2024-2032) trends of each segment of the industry. The detailed report also provides an overview of the global and GCC markets.

Key Highlights of the Report