Market Size of United Arab Emirates Structural Steel Fabrication Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.79 Billion |
| Market Size (2029) | USD 2.65 Billion |
| CAGR (2024 - 2029) | 8.19 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United Arab Emirates Structural Steel Fabrication Market Analysis
The United Arab Emirates Structural Steel Fabrication Market size is estimated at USD 1.79 billion in 2024, and is expected to reach USD 2.65 billion by 2029, growing at a CAGR of 8.19% during the forecast period (2024-2029).
- Owing to the increased steel consumption and the proposal of infrastructural projects, the United Arab Emirates (UAE) is estimated to be the second-largest market for structural steel fabrication among the Gulf Cooperation Council (GCC) countries. At the same time, Saudi Arabia holds the leading position.
- The increase in construction activities in the country is one of the major factors contributing to the growth of the structural steel fabrication market.
- Owing to economic diversification and a growing focus on improving tourism across the GCC countries, construction activities and investments in infrastructure developments, such as roads and railway projects, are experiencing a surge in the region.
- In the UAE, the demand for structural steel has seen substantial growth, particularly in the realms of residential housing, commercial establishments, and infrastructure development projects. The use of structural steel enables rapid construction, a crucial factor in meeting the UAE's accelerated urbanization and infrastructure needs.
- Supported by the UAE’s strong development agenda, including the Projects of the 50 initiative and a subsequent focus on industrial, transportation, and energy infrastructure with the aim of attracting nearly USD 150 billion in foreign direct investment by 2030, the country’s construction sector is expected to thrive at an encouraging pace.
- As of December 2022, MEED Projects reported that the UAE held a 13% market share, receiving project awards worth USD 19 billion. This is a decrease from the overall MENA total of USD 142 billion, down from USD 187 billion in 2021. In terms of the value of project awards, the highest awarding sectors for the UAE are construction, transport, and oil. The construction sector accounts for 60% of the value of project awards for the UAE, represented by residential, mixed-use, cultural, and commercial sectors as the leading construction sectors.
