What is the global market size of GCC Pre-Engineered Buildings Market?

GCC Pre-Engineered Buildings Market size was valued at USD 14.32 billion in 2021 and is poised to grow from USD 15.78 billion in 2022 to USD 34.11 billion by 2030, growing at a CAGR of 10.1% in the forecast period (2023-2030).

GCC Pre-Engineered Buildings Market Size, Share, Growth Analysis, By Material(Concrete, Glass), By Structure(Assembled, un-assembled), By Unit Size(Small, Large), By Application(Residential, Commercial) - Industry Forecast 2024-2031

Report ID: SQMIR20C2092 | Region: Regional | Published Date: February, 2024
Pages: 225 | Tables: 118 | Figures: 77

GCC Pre-Engineered Buildings Market Insights

GCC Pre-Engineered Buildings Market size was valued at USD 14.32 billion in 2019 and is poised to grow from USD 15.78 billion in 2023 to USD 34.11 billion by 2031, growing at a CAGR of 10.1% in the forecast period (2024-2031).

Pre-engineered buildings or prefabricated buildings (sometimes referred to as prefabs) are constructed off-site and brought to the site for on-site assembly. Along with the roof and wall coverings, it also incorporates the structure of the building. By employing the most suitable raw material stocks, pre-engineered building manufacturers develop it to meet the demands of the customer. Rigid frames, plate steel, roof beams, and columns make up the structural systems. Concrete-based prefabricated goods and metal prefabricated products are the two main categories of prefabricated building materials. Frames, partition panels, door and window frames, metallic roof systems, formworks at various stages of construction, precast beams and façades, tunnel linings, bridge girders, platforms for metro works, sewage discharge units and underground facilities, etc. are some of the metal prefabricated components with high market demand. Prefabricated homes are becoming more and more common, not just for commercial constructions but also for residential dwellings. However, given to the environmental advantages prefabricated structures offer with their contemporary dwelling, they are anticipated to become more prevalent in the future.

GCC Pre-Engineered Buildings Market is poised to grow at a sustainable CAGR for the next forecast year.

GCC Pre-Engineered Buildings Market Report Snapshots

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GCC Pre-Engineered Buildings Market is highly competitive owing to the presence of many major and new players. Due to rising prefab building investments, impending significant projects in the nation, and a few other reasons, the market is anticipated to expand throughout the course of the projected period. Major players include Strabag Dubai LLC, Albaddad International, Speed House Group of Companies, Exeed Precast and Extra Co. Group of Companies. Rapid technology improvements and high financial needs are significant obstacles to entry for new participants. 'Zamil Industrial Investment Co', 'Emirates Building Systems', 'Tiger Profiles and Insulation', 'Al-Tuwairqi Group', 'Al Shahin Metal Industries', 'Al-Ittefaq Steel Products Company', 'Al-Khodari Sons Company', 'Al Rajhi Building Solutions Group', 'Saudi Building Systems Manufacturing Company', 'Alupco', 'ArcelorMittal', 'BlueScope Steel', 'Emirates Building Materials', 'Kirby Building Systems', 'Mabani Steel', 'Metal Building Company', 'Qatar Steel Company', 'Safa Rolling and Pipe Mills Company', 'Steel Buildings Co.', 'Al Rashed Steel Products.'

Across the GCC region, there has been an increase in construction activity and investments in infrastructure, road, and railway projects. This is one of the key elements fueling the market expansion. Events planned for the GCC region and a considerable uptick in the tourist industry have made it easier for the need for rapid and affordable construction solutions. This has led to increased demand for prefabricated buildings.

Digitization has had a significant positive impact on architecture, engineering and construction (AEC). The available technology and how it is employed are largely responsible for all commercial benefits. BIM (building information modelling) is essential to contemporary advances in the construction industry. With the use of technology, a project's full three-dimensional environment may be visually planned. Prior to breaking ground, effective pre-construction assures a good conclusion. Effective modular house designs must incorporate BIM because it guarantees that each construction only utilises the necessary materials and generates a minimal amount of waste. Every construction company now needs to use BIM, which is revolutionising how it communicates and conducts business. Therefore, regional AEC enterprises in the GCC regions will embrace BIM either as a result of legal requirements or as a result of a deliberate choice to undergo a digital transformation. Adopters will gain from increased efficiency and lower costs as systems mature. Augmented reality (AR), a technique that superimposes virtual models on actual settings so that users may safely interact with both and with one another, works hand in hand with BIM. For BIM to be practical and available to on-site employees, AR will be essential.

Saudi Arabia dominated the GCC Pre-Engineered Buildings Market with a market valuation of approximately 2.8 billion in 2021. During the forecast period, the market in Saudi Arabia is anticipated to rise as a result of factors like expanding building activities, need for inexpensive housing, societal change, and a desire to provide the populace with access to more plentiful and higher-quality housing. Additionally, the growing practise of housing migrant blue-collar workers engaged in active industrial and construction projects is anticipated to increase demand for modular construction during the course of the projection period.

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GCC Pre-Engineered Buildings Market Size, Share, Growth Analysis, By Material(Concrete, Glass), By Structure(Assembled, un-assembled), By Unit Size(Small, Large), By Application(Residential, Commercial) - Industry Forecast 2024-2031

GCC Pre-Engineered Buildings Market Insights

GCC Pre-Engineered Buildings Market Report Snapshots

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