GCC Prefabricated Building and Structural Steel Market

Market Overview: 

The GCC prefabricated building and structural steel market size reached US$ 3.94 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.40 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.

Prefabricated buildings, also known as prefabs, are structured components manufactured at offsite locations and then transported to the construction site. On the other hand, structural steel frames are the skeletal layout of the building, wherein the prefabricated parts are assembled. They are manufactured using various materials like wooden panels, metal panels, glass, plastics, composites, and other reinforced plastics. They are suitable for temporary structures and relatively less expensive as they require less time and cost involvement. Besides this, they offer numerous other advantages, such as flexibility, sustainability, facilitate waste management, energy conservation, and protection from dust, moisture, and environmental hazards. As a result, prefabricated buildings and structural steel structures are gaining traction across the GCC region.

GCC Prefabricated Building and Structural Steel Market Trends:

The increasing population in the GCC countries is resulting in the rising construction and remodeling activities of residential and commercial structures. This represents one of the key factors positively influencing the market. In addition, increasing investments in mega infrastructure projects, including the construction of roads, railways, and airports, are offering lucrative growth opportunities to manufacturers. Apart from this, the rising focus of GCC countries on economic diversification to reduce the dependence on the oil and gas sector is creating a positive outlook for the market. Furthermore, a considerable rise in the travel and tourism sector, along with various upcoming events in the region, is driving the demand for convenient and cost-efficient construction solutions. Additionally, the introduction of stringent government regulations across the region to improve waste management and save energy is propelling the market growth. Moreover, prefabricated buildings do not generate any on-site waste and are more environmentally friendly than conventionally constructed buildings. These product benefits are strengthening the growth of the market in the region.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the GCC prefabricated building and structural steel market report, along with forecasts at the regional and country level from 2024-2032. Our report has categorized the market based on product type, component and end-use sector.

Breakup by Product Type:

• Prefabricated Building 
• Structural Steel
   

The prefabricated building represents the largest product type as it offers design flexibility, cost and energy efficiency, and is more eco-friendly than conventionally constructed structures.

GCC Prefabricated Building Market: Breakup by Component:

• Floors and Roofs
• Walls
• Staircase
• Panels and Lintels
• Others
   

GCC Structural Steel Market: Breakup by Component:

• H-Type Beam
• I-Type Beam
• Columns
• Angles
• Others
   

Breakup by End-Use Sector:

• Residential
• Institutional
• Commercial
• Industrial

The residential sector accounts for the majority of the market share due to the rising population and the increasing need for constructing and renovating residential places.

Regional Insights:

• Saudi Arabia
• UAE
• Others

Saudi Arabia enjoys the leading position in the market due to growing mega infrastructural projects across the country.

Competitive Landscape:

The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the industry.

This report provides a deep insight into the GCC prefabricated building and structural steel industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a prefabricated building and structural steel manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the GCC prefabricated building and structural steel industry in any manner.

Report Coverage:

Key Questions Answered in This Report:

• How has the GCC prefabricated building and structural steel market performed so far and how will it perform in the coming years?
• What are the key regional markets in the GCC prefabricated building and structural steel industry?
• What has been the impact of COVID-19 on the GCC prefabricated building and structural steel industry?
• What are the major types of component in the GCC prefabricated building and structural steel industry?
• What are the key end-use segment in the GCC prefabricated building and structural steel industry?
• What are the various stages in the value chain of the GCC prefabricated building and structural steel industry?
• What are the key driving factors and challenges in the GCC prefabricated building and structural steel industry?
• What is the structure of the GCC prefabricated building and structural steel industry and who are the key players?
• What is the degree of competition in the GCC prefabricated building and structural steel industry?
• What are the profit margins in the GCC prefabricated building and structural steel industry?
• What are the key requirements for setting up a prefabricated building and structural steel manufacturing plant?
• How are prefabricated building and structural steel manufactured?
• What are the various unit operations involved in a prefabricated building and structural steel manufacturing plant?
• What is the total size of land required for setting up a prefabricated building and structural steel manufacturing plant?
• What are the machinery requirements for setting up a prefabricated building and structural steel manufacturing plant?
• What are the raw material requirements for setting up a prefabricated building and structural steel manufacturing plant?
• What are the packaging requirements for prefabricated building and structural steel?
• What are the transportation requirements for prefabricated building and structural steel?
• What are the utility requirements for setting up a prefabricated building and structural steel manufacturing plant?
• What are the manpower requirements for setting up a prefabricated building and structural steel manufacturing plant?
• What are the infrastructure costs for setting up a prefabricated building and structural steel manufacturing plant?
• What are the capital costs for setting up a prefabricated building and structural steel manufacturing plant?
• What are the operating costs for setting up a prefabricated building and structural steel manufacturing plant?
• What will be the income and expenditures for a prefabricated building and structural steel manufacturing plant?
• What is the time required to break-even?