Saudi Arabia Prefabricated Building and Structural Steel Market Report, Industry Overview, Growth
by Rahul Rastogi Market Research AnalystPrefabricated building is manufactured in standard
portions off-site, and then shipped and assembled at the construction site.
Structural steel, on the other hand, forms the skeletal framework of the
building wherein the prefabricated parts are installed. These construction
materials can be divided into two types, concrete-based and metal-based.
Prefabricated buildings are not only popular in the commercial sector but are
also gaining prominence in the residential segment. IMARC Group’s new research
report, titled “Saudi
Arabia Prefabricated Building and Structural Steel Industry: Trends, Share, Size, Growth, Opportunity and Forecast
2019-2024”, estimates that the Saudi
Arabia prefabricated building and structural steel market size reached a value of more than US$ 1.5 Billion in 2018.
The report further anticipates the market to reach a value of around US$ 2.0
Billion by 2024, at a projected CAGR of 4.4% over the forecast period.
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Sample Report: https://www.imarcgroup.com/saudi-arabia-prefabricated-building-structural-steel-market/requestsample
Saudi Arabia Prefabricated Building and Structural
Steel Market Drivers/Constraints:
· The
unavailability of affordable housing owing to population growth along with an
influx of expatriates has encouraged the demand for prefabricated homes in
Saudi Arabia.
· Prefabricated
buildings are environment friendly in comparison to conventionally constructed
buildings as they do not produce any on-site waste or require fuel for machines
which emit harmful gases. Additionally, they are cost-effective, time- and
energy-efficient and quick-to-install.
· Rapid
urbanization and upcoming infrastructural projects are projected to further
provide a thrust to the market for prefabricated structures in Saudi Arabia
during the forecast period.
· Factors
such as lack of financing options and durability issues are expected to hamper
the market growth in the region.
On the basis of type, the market has been
categorised into prefabricated building and structural steel, wherein
prefabricated building accounts for the majority of the total sales. This
segment is further segregated into roofs and floors, walls, staircases, and
panels and lintels. Amongst these, roofs and floors represent the largest
segment. On the other hand, structural steel is divided into H-type beam,
I-type beam, columns and angles. Currently, H-type beam dominates the market.
Application Insights:
Based on application, the residential sector
dominates the market, holding the majority of the market share. A rise in the
number of expatriates and rapid urbanization are some of the factors
stimulating the growth of this segment. The residential sector is followed by
the institutional, commercial and industrial sectors.
Competitive Landscape:
The market is highly concentrated as the top four
players in the prefabricated building and structural steel market in Saudi
Arabia currently account for the majority of the overall market. These players
include:
· Saudi
building systems Mfg. Co.
· Red
Sea Housing Services
· Kirby
Building Systems
· Zamil
Steel Pre-Engineered Buildings Co. Ltd
Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/saudi-arabia-prefabricated-building-structural-steel-market
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Created on Nov 19th 2019 00:27. Viewed 355 times.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Nov 19th 2019 00:55