Press Release

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 "

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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