Market Size of Saudi Arabia Structural Steel Fabrication Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.21 Billion |
| Market Size (2029) | USD 3.76 Billion |
| CAGR (2024 - 2029) | 11.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Structural Steel Fabrication Market Analysis
The Saudi Arabia Structural Steel Fabrication Market size is estimated at USD 2.21 billion in 2024, and is expected to reach USD 3.76 billion by 2029, growing at a CAGR of 11.30% during the forecast period (2024-2029).
- Steel buildings already have a reputation in the construction business for having a lightning-fast manufacturing and assembly process, and it will only get faster. As life becomes more frantic, the technology used to manufacture and assemble steel structures will continue to evolve to meet the demand for more efficiency.
- To stay up with the demand to speed up production and assembly, experienced construction professionals will use the latest equipment and most forward-thinking tactics. With better data access, firms can greatly improve estimating and planning processes as design technology advances to 4D, 5D, and even 6D capabilities.
- Saudi Arabia's bedrock of megaprojects and increasing investment opportunities demonstrate how infrastructure development has become a national priority for Saudi Arabia. As a result, Saudi Arabia is home to some of the region's most significant infrastructure projects, including the upcoming Riyadh Metro, Jeddah Metro, Makkah Public Transport Programme, AlUla International Airport, and Red Sea International Airport. Furthermore, the kingdom's infrastructure is undergoing a transformation, which is aided by the establishment of the new National Infrastructure Fund (NIF).
- The lockdown harmed the labor-intensive sector. This was due to migrant workers being stuck at construction sites, and the halting of construction activity hampered the market's expansion. Travel restrictions had an impact on the construction materials trade all around the world. As a result, construction material supply and demand nearly halted. As a consequence, the structural steel market witnessed unanticipated outages, whipsaw pricing, and supply chain disruption.
