GCC Structural Steel Fabrication Market Size (2024 - 2029)

The GCC Structural Steel Fabrication Market is poised for significant growth, driven by substantial investments in infrastructure and construction projects, particularly in Saudi Arabia and the United Arab Emirates. The market's expansion is further supported by the increasing population and urbanization in the region, which heightens the demand for housing and infrastructure. The United Arab Emirates, with its ambitious development agenda and focus on industrial and transportation infrastructure, is expected to experience a robust demand for structural steel, facilitating rapid construction to meet its urbanization and infrastructure demands.

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Market Size of GCC Structural Steel Fabrication Industry

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GCC Structural Steel Fabrication Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR (2024 - 2029) 4.00 %
Market Concentration Low

Major Players

GCC Structural Steel Fabrication Market Major Players

*Disclaimer: Major Players sorted in no particular order

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GCC Structural Steel Fabrication Market Analysis

The GCC Structural Steel Fabrication Market is expected to register a CAGR of greater than 4% during the forecast period.

  • With Saudi Arabia leading the way, followed by the United Arab Emirates, the market for structural steel production in the Gulf Cooperation Council is expected to grow strongly. Significant investments in infrastructure development, construction projects, and the development of waterfront cities have contributed to this growth. Moreover, the growing population of the Gulf Cooperation Council region has led to an increased focus on green building practices.
  • Over the years, several factors have contributed to the growth of the Gulf Cooperation Council's iron and steel market, including increased infrastructure development, an increase in population, and urbanization.
  • Annual demand for flat and long steel in GCC countries is expected to reach 38 million tonnes by 2030. There has been a significant increase in population and urbanization in GCC countries. The demand for structural steel is driven by a growing population and urbanization, which has increased housing demand.
  • In the United Arab Emirates, the demand for structural steel has seen substantial growth, particularly in the realms of residential housing, commercial establishments, and infrastructure development projects. The use of structural steel enables rapid construction, a crucial factor in meeting the country’s accelerated urbanization and infrastructure needs.
  • Supported by the country’s strong development agenda, including the Projects of the 50 initiative and a subsequent focus on industrial, transportation, and energy infrastructure with the aim of attracting nearly USD 150 billion in foreign direct investment by 2030, the UAE construction sector is expected to thrive at an encouraging pace.

GCC Structural Steel Fabrication Industry Segmentation

Steel fabrication is a process in which stainless fabricators convert the raw material and steel into the desired shape. This process has two types: integrated route process or raw material approach and electric arc furnace.

A complete background analysis of the GCC structural steel fabrication market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The GCC structural steel fabrication market is segmented by product type (heavy sectional steel, light sectional steel, and other product types), end-user industry (manufacturing, power and energy, construction, oil and gas, and other end-user industries), and country (Saudi Arabia, the United Arab Emirates, Qatar and the Rest of GCC). The report offers market size and forecasts for the GCC structural steel fabrication market in value (USD) for all the above segments.

By End-user Industry
Manufacturing
Power and Energy
Construction
Oil and Gas
Other End-user Industries
By Product Type
Heavy Sectional Steel
Light Sectional Steel
Other Product Types
By Country
Saudi Arabia
United Arab Emirates
Qatar
Rest of GCC
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GCC Structural Steel Fabrication Market Size Summary

The GCC structural steel fabrication market is poised for significant growth, driven by robust infrastructure development and urbanization across the region. Saudi Arabia and the United Arab Emirates are at the forefront of this expansion, with substantial investments in construction projects and waterfront city developments. The increasing population in the Gulf Cooperation Council has further fueled the demand for structural steel, as urbanization and housing needs rise. The United Arab Emirates, in particular, has witnessed a surge in demand for structural steel due to its rapid urbanization and infrastructure projects, supported by initiatives like the Projects of the 50. This growth is further bolstered by the country's ambitious plans to attract foreign direct investment and enhance its industrial, transportation, and energy infrastructure.

The construction sector's boom in the GCC, particularly in Saudi Arabia and the United Arab Emirates, has created numerous opportunities for stakeholders in the structural steel fabrication market. The value of construction projects awarded in the region has seen a notable increase, with Oman also contributing significantly to the market's expansion through its clean energy plans. The United Arab Emirates aims to boost its steel production capacity significantly to meet the rising demand, with new mills and production methods on the horizon. The market is highly competitive and fragmented, with numerous small and medium-sized players. Key industry players include Hidada Ltd Company, Arabian International Company For Steel Structures, and Al Yamamah Steel Industries Co. Recent developments, such as the MoU between Bena Steel Industries and Alderley, and Tenaris's new facility in Abu Dhabi, highlight the ongoing efforts to enhance capabilities and support the region's energy transition and technical expertise.

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GCC Structural Steel Fabrication Market Size - Table of Contents

  1. 1. MARKET INSIGHTS AND DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Construction Spending in Emerging Economies

    3. 1.3 Market Challenges

      1. 1.3.1 Demand of Skilled Professional in Steel Fabrication Process

    4. 1.4 Market Opportunities

      1. 1.4.1 Rising Demand for Prefabricated Buildings

    5. 1.5 Value Chain / Supply Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Technological Snapshot

    8. 1.8 Government Regulations and Key Initiatives

    9. 1.9 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End-user Industry

      1. 2.1.1 Manufacturing

      2. 2.1.2 Power and Energy

      3. 2.1.3 Construction

      4. 2.1.4 Oil and Gas

      5. 2.1.5 Other End-user Industries

    2. 2.2 By Product Type

      1. 2.2.1 Heavy Sectional Steel

      2. 2.2.2 Light Sectional Steel

      3. 2.2.3 Other Product Types

    3. 2.3 By Country

      1. 2.3.1 Saudi Arabia

      2. 2.3.2 United Arab Emirates

      3. 2.3.3 Qatar

      4. 2.3.4 Rest of GCC

GCC Structural Steel Fabrication Market Size FAQs

The GCC Structural Steel Fabrication Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Hidada Ltd Company, Arabian International Company For Steel Structures, Al Yamamah Steel Industries Co., Mabani Steel LLC and Al Shahin Company For Metal Industries are the major companies operating in the GCC Structural Steel Fabrication Market.

GCC Structural Steel Fabrication Market Report Snapshots

GCC Structural Steel Fabrication Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)