Saudi Arabia Prefabricated Buildings Market- Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Saudi Arabian Prefabricated Buildings Market is segmented by application (residential, commercial, and other applications (industrial, institutional, and infrastructure)) and material type (concrete, glass, metal, timber, and other material types). The report offers market size and forecasts for the Saudi Arabian Prefabricated Buildings Market in value (USD) for all the above segments.

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Saudi Arabia Prefabricated Buildings Industry Overview

Saudi Arabian Prefabricated Buildings Market Summary
Study Period: 2019 - 2028
CAGR: > 7 %

Major Players

Saudi Arabian Prefabricated Buildings Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Saudi Arabia Prefabricated Buildings Market Analysis

The Saudi Arabian prefabricated buildings market is expected to record a CAGR of more than 7% during the forecast period. The rise in the overall construction industry and increasing prices are now contributing to the turnover of the prefabricated buildings market in Saudi Arabia.

  • The market is driven by the demand for low to mid-rise residential buildings, project homes, and public housing. Additionally, the high demand for turnkey or prefabricated houses and energy-efficient buildings contributes to market growth.
  • The residential construction industry in Saudi Arabia is facing a shortage of affordable housing due to a growing population and an influx of migrants. It has encouraged the demand for prefabricated homes, as they are cost-effective and time-efficient. Moreover, energy efficiency, design flexibility, and faster completion are other advantages of prefabricated buildings, anticipated to drive market growth.
  • COVID-19 has caused considerable economic damage. The nationwide lockdown has halted construction and impacted the labor-intensive sector. As a result, construction projects in various segments, such as educational, residential, and airports, have decreased, significantly impacting the demand for prefabricated buildings in Saudi Arabia.
  • COVID-19 has also affected the market due to slow raw material production, supply chain disruption, inhibited trade movements, declining construction demand, and reduced demand for new projects.
  • However, the demand for modular buildings increased due to the increased COVID-19 cases and the requirement for healthcare and quarantine buildings/units. Since a high workforce is required for traditional construction, opting for prefabricated buildings became an optimum solution during the pandemic.

Saudi Arabia Prefabricated Buildings Industry Segments

Prefabricated homes, often referred to as prefab homes, are primarily manufactured in advance off-site, then delivered and assembled on-site. This report covers market insights, such as market dynamics, drivers, restraints, opportunities, technological innovation, and its impact, Porter's five forces analysis, and the impact of COVID-19 on the market. Additionally, the report provides company profiles of leading market players to understand the market's competitive landscape.

The Saudi Arabian Prefabricated Buildings Market is segmented by application (residential, commercial, and other applications (industrial, institutional, and infrastructure)) and material type (concrete, glass, metal, timber, and other material types).

The report offers market size and forecasts for the Saudi Arabian Prefabricated Buildings Market in value (USD) for all the above segments.

By Material Type
Concrete
Glass
Metal
Timber
Other Material Types
By Application
Residential
Commercial
Other Applications (Industrial, Institutional, and Infrastructure)

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Saudi Arabia Prefabricated Buildings Market Trends

This section covers the major market trends shaping the Saudi Arabia Prefabricated Buildings Market according to our research experts:

Increase in Population Driving the Market

Saudi Arabia, the second-largest Arab state, is a nation in development. As a result of economic stability, gross domestic product (GDP) has grown by about USD 520 billion. It is due to Saudi Arabia's positive trade balance and the fact that Saudi Arabia exports about 2.5 times more goods than it imports. In a developing country, there is a tendency for the population to move to more urban cities where the employment rates are higher. The degree of urbanization in Saudi Arabia grew in 2021. Some of the biggest cities in Saudi Arabia have witnessed urbanization changes first-hand.

The capital of Saudi Arabia and the biggest city, Ar-Riyad, is home to about 7.1 million inhabitants. However, the high number of illegal immigrants in Saudi Arabia also accounts for the total population. With a rapidly growing total population, there is increasing demand for affordable residential homes in the country. This demand is driving the prefabricated building market in Saudi Arabia. In 2021, Saudi Arabia's population grew by approximately 1.31% compared to the previous year. In 2021, Saudi Arabia's total population amounted to 35.46 million inhabitants.

Saudi Arabian Prefabricated Buildings Market: Total population of Saudi Arabia, in million inhabitants

Increase in Demand for Affordable Prefabricated Homes in Saudi Arabia

In Saudi Arabia, the housing shortfall is overgrowing. To address this deficit, the government established a Real Estate Development Fund, which includes various financing schemes to increase the homeownership rates. In 2021, the density of Saudi Arabia's population amounted to 16.94 inhabitants per sq km. Factors such as growing construction activities, demand for affordable housing, social change, and a need to support the population with access to more plentiful and better-quality accommodation are expected to drive the prefabricated buildings market growth in Saudi Arabia.

Additionally, the rising trend of providing housing facilities to migrant blue-collar laborers working on ongoing construction and industrial projects is also expected to boost the demand for modular construction. Affordable housing unavailability due to population growth and an influx of migrants has encouraged the prefabricated home demands in Saudi Arabia. Rapid urbanization and upcoming infrastructural projects further provide a thrust to the prefabricated structure market in Saudi Arabia. In the second quarter of 2021, the housing stock within the residential market in Riyadh amounted to 1.3 million square meters. At the same time, the housing stock within the residential market of Jeddah was 856 thousand.

Saudi Arabian Prefabricated Buildings Market: Distributing of housing stock in Saudi Arabia in the Q2 2021, by city (in 1,000 units)

Saudi Arabia Prefabricated Buildings Market Competitor Analysis

The Saudi Arabian prefabricated building industry is moderately consolidated, with the major players having a significant share influencing the market. There is competition in the market due to various American and Chinese building systems. The systems offer fast construction of prefabricated buildings at a lower cost than traditional building systems. Some of the major players in the Saudi Arabian market for prefabricated buildings are Saudi Building Systems Mfg. Co., Red Sea Housing Services, Kirby Building Systems, Zamil Industrial Investment Co., United Company for Caravans and Prefab Houses, and others.

Saudi Arabia Prefabricated Buildings Market Top Players

  1. Saudi Building Systems Mfg. Co.

  2. Red Sea Housing Services

  3. Kirby Building Systems

  4. Zamil Industrial investment Co.

  5. United Company for Caravans and Prefab Houses

*Disclaimer: Major Players sorted in no particular order

Saudi Arabian Prefabricated Buildings Market Concentration

Saudi Arabia Prefabricated Buildings Market Recent Developments

January 2022: Red Sea International Company (Partner With One Of The Leading Modular Building Companies) signed a contract with the Red Sea Development Company, one of the Middle East's most successful leisure and hospitality companies. The contract is to design, manufacture, supply, and install three complexes in the Western region, to support the construction activities of luxury hotels on three islands in the Red Sea (Sheybarah/Ummahat Al Shaikh islands).

October 2021: Kirby Building Systems (A manufacturing company specializing in pre-engineered buildings) has set its eyes on furthering the industry as it expands toward a third India-based facility in Gujarat. The global steel building powerhouse, part of Kuwait's Alghanim Industries and one of the largest privately-owned companies in the Middle East, broke ground on its new 1,14,000 sq. mt facility, with operations commencing by October 2022.

Saudi Arabia Prefabricated Buildings Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Market Definition

    3. 1.3 Scope of the Study

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET INSIGHTS

    1. 4.1 Current Market Scenario

    2. 4.2 Technological Trends

    3. 4.3 Insights into Supply Chain/Value Chain Analysis

    4. 4.4 Brief on Different Structures Used in the Prefabricated Buildings Industry

    5. 4.5 Cost Structure Analysis of the Prefabricated Buildings Industry

    6. 4.6 Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Drivers

    2. 5.2 Restraints

    3. 5.3 Opportunities

    4. 5.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 5.4.1 Bargaining Power of Suppliers

      2. 5.4.2 Bargaining Power of Consumers/Buyers

      3. 5.4.3 Threat of New Entrants

      4. 5.4.4 Threat of Substitute Products

      5. 5.4.5 Intensity of Competitive Rivalry

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Material Type

      1. 6.1.1 Concrete

      2. 6.1.2 Glass

      3. 6.1.3 Metal

      4. 6.1.4 Timber

      5. 6.1.5 Other Material Types

    2. 6.2 By Application

      1. 6.2.1 Residential

      2. 6.2.2 Commercial

      3. 6.2.3 Other Applications (Industrial, Institutional, and Infrastructure)

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Overview

    2. 7.2 Company Profiles

      1. 7.2.1 Saudi Building Systems Mfg Co.

      2. 7.2.2 Red Sea Housing Services

      3. 7.2.3 Kirby Building Systems

      4. 7.2.4 Zamil Industrial investment Co.

      5. 7.2.5 United Company for Caravans and Prefab Houses

      6. 7.2.6 Al-Shahin Metal Industries

      7. 7.2.7 Al Jazera Factory For Engineering Construction Co. Ltd

      8. 7.2.8 Saudi Company for Prefabricated Buildings LLC

      9. 7.2.9 Alabniah

      10. 7.2.10 Eastern Precast Concrete*

      3. *List Not Exhaustive

  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

  10. 10. APPENDIX

    1. 10.1 Macroeconomic Indicators (GDP Breakdown by Sector, Contribution of Construction to the economy, etc.)

    2. 10.2 Key Production, Consumption, Exports, and Import Statistics of Construction Materials

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Saudi Arabia Prefabricated Buildings Market Research FAQs

The Saudi Arabia Prefabricated Buildings Market is studied from 2019 - 2028.

The Saudi Arabia Prefabricated Buildings Market is growing at a CAGR of >7% over the next 5 years.

Saudi Building Systems Mfg. Co., Red Sea Housing Services, Kirby Building Systems, Zamil Industrial investment Co., United Company for Caravans and Prefab Houses are the major companies operating in Saudi Arabia Prefabricated Buildings Market.

Saudi Arabia Prefabricated Buildings Industry Report

In-depth industry statistics and market share insights of the Saudi Arabia Prefabricated Buildings Market sector for 2020, 2021, and 2022. The Saudi Arabia Prefabricated Buildings Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Saudi Arabia Prefabricated Buildings Market report PDF.

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