Market Size of Saudi Arabia Prefab Wood Buildings Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Prefab Wood Buildings Market Analysis
The Saudi Arabia Prefab Wood Buildings Market is expected to register a CAGR of more than 4% during the forecast period (2023-2028).
- COVID-19 has impacted the wooden prefabricated structures market in Saudi Arabia. Due to COVID-19 restrictions, many construction projects were delayed or canceled. In addition, the pandemic has boosted offsite construction in the country, which offered improved safety, reduced risk, and greater certainty of completion on time and within budget.
- Moreover, Saudi Arabia emerged as a leading market for Nordic wood in the Middle East and Africa Region. In addition, most of the wooden building manufacturers in the country focus on Nordic timber. Also, the Saudi population will require a lot more wood to build its future. Thus, the country is highly dependent on timber imports. Meanwhile, to meet the growing demand for prefabricated structures, the country imported more than 25,200 tonnes of prefabricated buildings (whether or not complete or already assembled). Also, United Arab Emirates, Netherlands, China, Jordan, and Lebanon are the top five exporters of prefabricated buildings to Saudi Arabia.
- Furthermore, under Vision 2030, Saudi Arabia is redefining its tourism and hospitality sectors. In 2022, recently launched ecolodge brand ENVI Lodges and Al Rasim Hotels and Resorts are planned to develop a waterfront project on the Kingdom of Saudi Arabia's Red Sea coast. In addition, Al Rasim Hotels and Resorts planned to initiate an experiential lodging on the shores of the Red Sea, which comprises of nearly 40 modular pods, prefabricated, and transported to the site. These modular pods will be installed on individual decks, which will lower the environmental impact and minimize disturbance at the site. Thus, the growing concern about sustainability, increasing focus towards affordable housing, etc. factors are driving the wooden modular buildings adoption in the country.
