Saudi Arabia Prefabricated Buildings Market to be dominated by Residential Segment through 2028
Rising demand for affordable housing and construction
projects in Saudi Arabia are driving the market growth of the Saudi Arabia
Prefabricated Buildings Market during the forecast period
According to TechSci Research report, “Saudi Arabia Prefabricated Buildings Market
- By Region, Competition Forecast & Opportunities, 2028,” the Saudi Arabia
Prefabricated Buildings Market is likely to grow at a
robust pace in the forecast period. A
prefabricated building is one which consists of factory-manufactured components
or units that are transported and assembled on-site to form a complete
building.
Prefabricated structures are more
sustainable, greener and compliant with sustainable design standards as they
have a lower carbon footprint, more energy use and efficiency, and less waste. Modular
architecture allows the design and construction of modular structures outside
the installation site, thanks to 3D modeling. This provides several benefits
such as more sustainable design, significant cost and time savings, and
standardization of design. This is especially important in large construction
projects. Investing in prefabricated homes in Saudi Arabia can be cheaper than
building homes on site. Prefab manufacturers set up factories in areas where
labor and materials are cheaper. This can reduce costs for buyers. It shortens
the construction period and contributes to cost reduction. Prefabricated homes
are favored due to the growing interest in sustainable construction.
Prefabricated construction in Saudi Arabia solves the problem of labor
shortage. Extreme weather and natural disasters have a significant impact on
project delays. Prefabrication is done on the premises of the factory, so there
is no need to worry about the weather. Conventional construction can take a
year or more. Prefabricated houses, on the other hand, can be built in a matter
of months.
Browse over XX market data Figures spread through 70
Pages and an in-depth TOC on the "Saudi Arabia Prefabricated Buildings Market."
Prefabricated houses in Saudi Arabia are
equipped with electrical and sanitary systems. These structures improve
breathability, energy efficiency and good insulation.
The Saudi Arabia
Prefabricated Buildings Market is segmented into structure type,
material
type, unit size, system type, application, region and competitive
landscape. Based on Application, the market is segmented
into residential, commercial & industrial. During the forecast period,
the residential segment is expected to be
the dominating segment. Factors
such as increased construction activities, demand for affordable housing and
the need to support the population with access to more abundant and quality
housing will propel the growth of the Saudi Arabian market during the forecast
period. is expected. Moreover, the increasing trend of providing housing
opportunities to migrant workers engaged in ongoing construction and industrial
projects is expected to boost the demand
for prefabricated housingin Saudi Arabia as affordable housing becomes
unavailable due to population growth and an influx of foreigners. Rapid
urbanization and upcoming infrastructure projects are projected to add further
impetus to the prefabricated buildings market in Saudi Arabia during the forecast
period. According to the Saudi Ministry of Housing, an estimated 1.5 million
homes will need to be built by 2030 to cover the country's housing shortage.
Similarly, the Ministry of Housing's 'ESKAN' project aims to add 500,000 units
to the country's total stock of affordable housing. King Salman bin Abdulaziz
Al Saud
has called on the Ministry
of Housing to build affordable housing
suitable for citizens as it is a priority of the government. The government
enacted laws and allocated huge budgets for housing. The Department of Housing
is planning several major housing projects such as WAFI to create and support
affordable housing during the forecast period. Population growth, urbanization
and tourism are expected to drive growth in the construction sector, especially
in the residential and leisure market, hence contributing to the growth of
Saudi Arabia Prefabricated Buildings Market
Key market players in the Saudi Arabia Prefabricated Buildings Market include:
- Saudi
Building Systems Mfg. Co.
- Red Sea
Housing Services
- Kirby
Building Systems
- Zamil
Industrial investment Co.,
- United
Company for Caravans and Prefab Houses
- Al-Shahin
Metal Industries
- Al Jazera
Factory for Engineering Construction Co. Ltd.
- Saudi
Company for Prefabricated Buildings LLC
- TSSC Group
- Eastern
Precast Concrete
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“Saudi Arabia ‘s GDP has a major contribution from the construction industry. Saudi Vision 2030 brought adoption of new
technologies in prefabricated buildings market, which is expected to have a
positive impact on the environment. Riyadh is expected to be the dominating
region during the forecast period due to the number of projects taking place
due to Saudi Vision 2030.,”said
Mr Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Saudi Arabia Prefabricated
Buildings Market By Structure Type
(Assembled & Non-assembled), By Material Type (Glass, Concrete, Steel,
Aluminum, Timber, Architecture Structures & Others), By Unit Size (Small
& Large), By System Type (Skeleton System, Panel System, Cellular System
& Combined System), By Application (Residential, Commercial &
Industrial), By
Region, Competition Forecast & Opportunities, 2018-2028,” has
evaluated the future growth potential of Saudi Arabia Prefabricated Buildings Market
and provides statistics and information on market structure, size, share, and
future growth. The report is intended 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 present in the Saudi Arabia Prefabricated
Buildings Market.
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