Saudi Arabia Construction Market to Surpass $ 43 Billion by 2024
Increasing
spending on large-scale infrastructure development and housing projects to drive construction market in
Saudi Arabia
during the forecast period
According to
TechSci Research report, “Saudi Arabia Construction Market By Industry Type, Competition,
Forecast & Opportunities, 2024”, Saudi Arabia construction market is projected to
reach $ 43.5 billion by 2024, on account of significant investments in
infrastructure and housing development. South Arabia is the most populous and
largest country in the Middle East region. Construction market in the country
is expected to be driven by investments and megaprojects announced in cities,
such as Jeddah and Medina. Moreover, growing demand for homes from rising population
is anticipated to have a positive impact on Saudi Arabia construction market
during the forecast period.
Browse market
data Tables and Figures spread through 110 Pages and an in-depth TOC on "Saudi
Arabia Construction Market "
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Saudi Arabia construction
market can be segmented based on industry type and region. In terms of industry
type, the market can be segmented into industrial, commercial, infrastructure
and residential. Industrial segment is anticipated to dominate the market during
the forecast period, owing to programs such as Vision 2030 and NTP 2020, which
are aimed at diversifying the economic income of the country away from the oil
industry.
Saudi Binladin Group, Abdullah AM AL-Khodari Sons Company, Al Rashid
Trading and Contracting Company, Al Arrab Contracting Company, Al Kifah
Contracting Company, Al Fouzan, El Seif and Tekfen Construction &
Installation Co. Inc are some of the leading players operating in Saudi Arabia construction
market, which is highly competitive and consolidated by few companies that
occupy the major share.
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“Rising
population and growing number of public private partnerships for infrastructure
development in the country would drive Saudi Arabia construction market.
Moreover, several projects like Grand Mosque, King Abdullah Security Compounds,
Neom and Riyadh Metro, among others are drawing attention of international
players, which is likely to positively influence the market through 2024.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Saudi Arabia Construction Market By Industry
Type, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Saudi
Arabia construction market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Saudi Arabia construction
Market.
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