The Saudi
Arabia Ready Mix Concrete Market is anticipated to grow at a steady
pace in the forecast period, 2024-2028 &
growing at a steady CAGR in the forecast period 2024-2028.
Ready-mix concrete (RMC) is made in a batch factory for each task
required and is then delivered to the project site "ready to
use". There are two types of vehicles, the first type being the
barrel truck or in-transit mixer. This kind of vehicle transports plasticized
concrete to the job site. On the other hand, the volumetric concrete mixer is
the second type. This type mixes the concrete on the site after delivering the
ready mix in a dry form. However, according to some sources, the material may
be divided into three types: transit mix, central mix, and shrink mix concrete.
Ready-mix concrete is specifically made for customers' construction projects
and delivered to the customer on-site as a single product.
Government
Initiatives in the Infrastructure sector
Saudi
Arabia has started a trillion-dollar pipeline of infrastructure projects to
diversify its economy other than, from oil. The Kingdom aspires to become a
significant global hub for investment and logistics, as stated in its Vision
2030. With giant projects strategically positioned all throughout the Kingdom,
the development program has opened opportunities in a variety of brand-new
industries, including renewable energy, tourism, and smart cities. The Economic
Cities Authority, on the other hand, was set up to renew investor interest in
earlier economic city efforts in the Kingdom that aimed to solve specific
socioeconomic issues including the shortage of affordable housing and efficient
transportation,. Saudi Infrastructure Expo brings together government organizations,
procurement professionals, owners, architects, consultants, and developers
involving the numerous infra and giga projects so they can network with local
and international suppliers and source the products to change the country's
outlook. This transformation presents a wide range of opportunities. Massive
public and private sector projects funded by the Public Investment Fund, the
royal commissions in charge of the major metropolitan areas, the appropriate
ministries, and the private sector are driving a substantial number of
initiatives and possibilities. Saudi Arabia's market had a rapid recovery
following COVID, and presently there are projects worth more than USD 1.70
trillion in the planning stage.
Rapid
Infrastructure development
In
Saudi Arabia, the building industry makes 8% of the overall GDP. A major
infrastructure project in Saudi Arabia is expected to attract more than USD 800
billion investments by 2030, making the country one of the largest building markets
in the Middle East. Saudi Arabia has intended to highlight the increasing
involvement of the private sector in the construction of its infrastructure,
most likely through public-private partnerships (PPPs), Saudi Arabia is
anticipated to be able to execute "Comprehensive Public Transportation
Plans" in additional five cities
over the same time, to accomplish "Saudi Arabia's National Transformation
Plan, 2020" owing to the growing private sector's engagement. Additionally,
the Saudi Arabia government has allotted around USD 43.8 billion for
infrastructure projects linked to transportation, telecommunications, water,
agriculture, and other relevant fields, in addition to several metro
development projects in significant cities. The requirement for ready mix
concrete is predicted to increase as the country's infrastructure develops. As
a result, it is anticipated that the ready mix concrete market is expected
to expand over the upcoming years and retain a high CAGR from 2024 to
2028.