Dammam Industrial Construction Market Size

Dammam Industrial Construction Market Analysis

The Dammam Industrial Construction Market size is estimated at USD 250 million in 2024, and is expected to reach USD 356.5 million by 2029, growing at a CAGR of 6.09% during the forecast period (2024-2029).

• Saudi Arabia intends to become a global leader in additive manufacturing by manufacturing 3D-printed raw materials, developing engineering design capabilities, and localizing additive production services based on its strategic location, resources, and highly skilled workforce.
• The Saudi Ministry of Economy and Planning states that manufacturing is the third most significant contribution to the national GDP. Saudi Arabia also invests heavily in developing Industry 4.0 technologies that increase productivity and competitiveness while reducing costs, waste, and carbon emissions.
• MODON, the Kingdom's Authority for Industrial Property, has developed and operates around two dozen commercial cities to build several new ones to contribute to society's capacity development. Therefore, MODON commissioned AS+P to draw up master plans defining the characteristics of the new administrative heart of Riyadh 2 and Dammam 2 industrial cities.
• There's no slack in the Saudi mining industry. More than 1,300 new licenses have been issued, and over USD 32.4 billion in new investments were attracted. These were in the mining and minerals sector through nine new projects. According to the latest Ministry of Industry and Mineral Resources data, this is the case.
• In line with Saudi Vision 2030, the country intends to make its mining sector a third pillar of its national industry. According to the experts, Saudi Arabia has almost USD 1.35 trillion worth of mineral wealth. The number of mining factories in the Kingdom has risen 50 percent since the launch of Vision 2030. According to data from 2022, Saudi Arabia has over 10,000 industrial installations. In all, more than 1,000 factories started up in 2022 alone.