What is the global market size of GCC Structural Steel Fabrication Market?

GCC Structural Steel Fabrication Market size was valued at USD 2.32 billion in 2022 and is poised to grow from USD 2.41 billion in 2023 to USD 3.30 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

GCC Structural Steel Fabrication Market Worldwide

GCC Structural Steel Fabrication Market Regional Insights

GCC countries are expected to grow at enormous CAGR during the forecast period. One major driving factor in the growth is an increase in the proposal of infrastructure projects and steel consumption, as well as an increase in construction activities in the GCC region. For example, Saudi Arabia is expected to have a significant market for structural steel fabrication among GCC countries, followed by the UAE. There has been significant investment in infrastructure development, projects, and waterfront city construction in Kuwait, Qatar, and Bahrain's Diyar Al Muharraq.

Furthermore, growing population in the GCC region has shifted the emphasis to environmentally friendly constructions. The demand for prefabricated buildings is increasing because they are more environmentally friendly and affordable than conventionally constructed buildings, and they also produce no on-site waste. The expansion of the tourism industry as a result of the evolution of infrastructure activities has created a demand for prefabricated buildings in the region, particularly in the UAE and Saudi Arabia.

FAQs

GCC Structural Steel Fabrication Market size was valued at USD 2.41 billion in 2023 and is poised to grow from USD 2.51 billion in 2024 to USD 3.43 billion by 2032, growing at a CAGR of 4.0% during the forecast period (2025-2032).

The top players in the GCC structural steel fabrication market are responsible for the demand of the market. The market is dominated by small and medium-sized firms, making it highly competitive and fragmented. As a result, the companies in the region struggle fiercely for a limited market share. For instance, a new structural steel fabrication facility has been established in Uttar Pradesh, India, by Salasar Techno Engineering, a steel fabrication firm with headquarters in India. High-precision robotic multi-torch CNC plasma cutting machinery is present at Salasar's new facility. For power plants, metro stations, bridges, PEB buildings, warehouses, airport hangars, high-rise structures, and process plants, the factory will create heavy structural steel. 'Arabian International Company for Steel Structures (Saudi Arabia) ', 'Al Yamamah Steel Industries Co. (Saudi Arabia) ', 'Mabani Steel LLC (United Arab Emirates) ', 'Al Shahin Company for Metal Industries (Saudi Arabia) ', 'IMCC (United Arab Emirates) ', 'Standard Steel Fabrication Co. LLC (United Arab Emirates) ', 'Techno Steel (United Arab Emirates) ', 'Aarya Engineering (United Arab Emirates) ', 'Vogue Steel LLC (United Arab Emirates) ', 'AGE Steel (Saudi Arabia) ', 'Attieh Steel (Saudi Arabia) ', 'Gulf Specialized Works (Saudi Arabia) ', 'Station Contracting Ltd. (Saudi Arabia) ', 'Zamil Steel's Structural Steel Division (Saudi Arabia) ', 'Arabtec Holding PJSC (United Arab Emirates) ', 'Qatar Steel (Qatar) ', 'Al Bait Al Hadi (United Arab Emirates) ', 'Mefab (United Arab Emirates) '

There is a huge demand for structural steel fabrication on the international market since it is used in the construction of highways and bridges. The installation of beams in residential and commercial buildings requires the usage of structural steel fabrication. On building sites, fabrication methods are also used to lay trusses, angles, plates, and hollow sections. As a result, the growth graph of the worldwide structural steel fabrication market is expected to show an upward trend in the coming years.

The bulk of prefabricated buildings in the GCC region are steel structures. Prefabricated structures are more popular due to their affordability, environmental friendliness, and lack of on-site trash generation. This is due to the focus on environmentally responsible construction as well as the growing population in the GCC region. The need for prefabricated buildings has expanded in the region, especially in the UAE and Saudi Arabia, as a result of the expansion of infrastructure activities and growing tourism activities in the area.