Saudi Arabia Pre-Engineered Building Market to Grow Due to Technological Advancement until 2026
Rapidly
rising smart cities is driving the growth of Saudi Arabia Pre-engineered
building Market, in the forecast period, 2022-2026.
According to TechSci report on, “Saudi
Arabia Pre-Engineered
Building Market By
Material (Concrete, Steel, Aluminum, Civil, Others) By Product Type (Walls,
Columns & Beams, Roof & Floors, Others) By Structure (Single-Story,
Multi-Story) By Application (Industrial, Commercial, Residential) By Region,
Competition Forecast & Opportunities, 2026”, Saudi Arabia pre-engineered building market has shown promising growth in historical years
until 2019 and is expected to continue its growth in upcoming forecast years
2021 to 2026. Saudi Arabia pre-engineered building market owes its growth to
the factors like rapidly evolving infrastructure industry. The market is bound
to experience major growth on the factors like rapidly increasing smart cities
in the country and technological advancement. Moreover, the demand to decrease
the time involved in the construction as well as to decrease the time consumed
in the construction of the complex building is driving the growth of the Saudi
Arabia pre-engineered building market in the upcoming five years. Furthermore,
increased investment from the governmental and private funding is further
driving the growth of Saudi Arabia pre-engineered building market in subsequent
five years.
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building Market"
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The Saudi Arabia
pre-engineered building market is segmented by material, product type,
structure, application, distribution channel, competitional landscape, and
regional distribution. Based on material, the market is further bifurcated into
concrete, steel, aluminum, civil, and others. Steel is anticipated to hold the
largest revenue shares of the market in the next five years on the account of
surging demand for the qualities of the steel as a construction material. The
material gives prolonged life to the products that are manufactured out of
steel. Also, steel industry is expanding rapidly in the future as it has been
expanding in the past five years. The growing research and advancement in the
sector are supporting the growth of the market in the upcoming five years.
Concrete is expected to register fastest growing CAGR in the next five years,
one of the main reasons for the same being the advancement of the concrete.
Artificial concrete, and concrete slabs use is rapidly increasing and
supporting the growth of the market in the next five years.
Based on
structure, the market is further divided between single-story, and multi-story.
Single story structures account for the maximum revenue shares of the market
and is anticipated to assert its dominance over the market o the account of
financial aids like governmental and personal investments in infrastructural,
logistics, and industrial construction. Also, single story buildings are
preferential among the population for the cheaper construction, and large lands
for the residential buildings allow them to get lavish and expensive aesthetics
for the houses and residents. The architectural flexibility is another factor
that aids the market growth in the upcoming five years. Growing non-residential
construction like hospitals, education centers, recreational infrastructure,
are actively fueling the market growth along with the segment, multi-story
building. The sub-segment is expected to register significant growth in the
next five years.
A partial list
of market player in the Saudi Arabia pre-engineered building market includes
Zamil Steel Pre-Engineered Buildings Co. Ltd., Al-Jazera Factory For
Engineering Construction Co Ltd, Batterjee for Engineering and Metal
Construction, AlShahin Metal Industries 'SHMICO', International Building
Systems Factory Co., Ltd. (IBSF), Gulf Specialized Works Co. Ltd., Alfanar
Steel Co. Ltd., The Dolphin International Steel Company, Saudi Building Systems
Mfg. Co., Kirby Building Systems among others. These market players hold larger
shares of the market than the new market players. With the evolving technology,
it is appropriate to say that the effective research and development of the
technologically advanced instruments and methods to satisfy consumer demands
would support the market growth and benefit the market players as well as the
consumers. New market players may focus on the research and development to
provide such products and services that satisfies the consumer demand as well
as benefits the market players in building their brand value. Other competitive
strategies include mergers & acquisitions and new product developments.
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“Research and technological advancement for the best available product
manufacturing is going to be golden rules for the growing and expanding pre-engineered
building market in Saudi Arabia. New market players are advised to study the
market thoroughly. The product demand is ever evolving therefore they must
invest in the advanced material for the pre-engineered building that is
aesthetically pleasing as well as utilizes advanced technology and satisfy the
consumer demands. Cutting down the cost and time consumption in infrastructure
construction must be the major step for the new market entrants,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Saudi
Arabia Pre-Engineered Building Market By Material (Concrete, Steel, Aluminum,
Civil, Others) By Product Type (Walls, Columns & Beams, Roof & Floors,
Others) By Structure (Single-Story, Multi-Story) By Application (Industrial,
Commercial, Residential) By Region, Competition Forecast & Opportunities,
2026” has
evaluated the future growth potential of Saudi Arabia pre-engineered building 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 pre-engineered building market.
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