United Arab Emirates Structural Steel Fabrication Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.79 Billion |
| Market Size (2029) | USD 2.65 Billion |
| CAGR (2024 - 2029) | 8.19 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United Arab Emirates Structural Steel Fabrication Market Analysis
The United Arab Emirates Structural Steel Fabrication Market size is estimated at USD 1.79 billion in 2024, and is expected to reach USD 2.65 billion by 2029, growing at a CAGR of 8.19% during the forecast period (2024-2029).
- Owing to the increased steel consumption and the proposal of infrastructural projects, the United Arab Emirates (UAE) is estimated to be the second-largest market for structural steel fabrication among the Gulf Cooperation Council (GCC) countries. At the same time, Saudi Arabia holds the leading position.
- The increase in construction activities in the country is one of the major factors contributing to the growth of the structural steel fabrication market.
- Owing to economic diversification and a growing focus on improving tourism across the GCC countries, construction activities and investments in infrastructure developments, such as roads and railway projects, are experiencing a surge in the region.
- In the UAE, 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 UAE's accelerated urbanization and infrastructure needs.
- Supported by the UAE’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 country’s construction sector is expected to thrive at an encouraging pace.
- As of December 2022, MEED Projects reported that the UAE held a 13% market share, receiving project awards worth USD 19 billion. This is a decrease from the overall MENA total of USD 142 billion, down from USD 187 billion in 2021. In terms of the value of project awards, the highest awarding sectors for the UAE are construction, transport, and oil. The construction sector accounts for 60% of the value of project awards for the UAE, represented by residential, mixed-use, cultural, and commercial sectors as the leading construction sectors.
United Arab Emirates Structural Steel Fabrication Market Trends
Infrastructure Development Driving The Market
- The UAE is currently embarking on the development of several ambitious megaprojects, poised to shape the future of the nation and redefine its position as a global and regional leader. The upcoming megaprojects of the UAE are also a testament to the nation’s continued efforts and commitment to shaping its future.
- With the combined support of the government and the private sector, these megaprojects are expected to drive economic growth, create jobs, and position the country as a global hub for innovation, tourism, and opportunities.
- A wave of private sector projects, combined with high levels of government spending and investment plans, is bringing renewed optimism to the market. Transportation and road infrastructure development continues to be important.
- The UAE has a sizable transportation and road infrastructure projects pipeline, including the USD 11 billion Etihad rail, the USD 5.9 billion proposed Hyperloop project between Dubai and Abu Dhabi, the USD 2.7 billion Sheikh Zayed double-deck road project, and more.
- The rebounding oil price in 2022 triggered a fiscal surplus for oil-exporting economies like the UAE and Kingdom of Saudi Arabia (KSA). In October 2022, the UAE government announced a planned expenditure of USD 68.59 billion between 2023 and 2026, continuing the government's strategic plans of economic diversification, enhancing citizens' quality of life across the Emirates, and centering themselves as a global business hub.
- Presenting the average annual oil price against the project awards value for the UAE demonstrates a historical correlation trend of increasing award values following elevated oil prices.
Growing Residential Units With Increase in High-Rise Towers
- Dubai has constructed more than 25 buildings taller than 300 meters, surpassing any other city in the world. The city, known for its record-breaking tower and numerous iconic architectural wonders, is set to maintain its appeal as a 'City of Skyscrapers' with several high-rise buildings currently under construction.
- These upcoming skyscrapers, including the Burj Binghatti, Ciel Tower, Il Primo Tower, Uptown Tower, Regalia, and One Za'abeel Tower 1, are all set to be among the world's 100 tallest buildings under construction. Additionally, developments like Dubai Creek Tower, RP One, and 106 Tower are also in progress.
- With Dubai's prime residential prices increasing rapidly and the city leading the global Prime International Residential Index 100 (PIRI 100) for 2022, developers are working diligently to meet the growing demand from wealthy investors.
- Dubai is poised to maintain its status as the host of the tallest buildings, measuring 300 meters and above, given the upcoming range of new high-rise buildings in the offing.
United Arab Emirates Structural Steel Fabrication Industry Overview
The report covers the major players operating in the UAE structural steel fabrication market. In terms of market share, the companies in the country compete heavily with no major share as small and medium-sized players majorly occupy the market. Hence, the market is highly competitive and fragmented.
Major regional players have been observed to venture into new regions, allowing the companies to improve their geographic reach. New competitors are entering the structural steel market with customized and industry-specific services. Some major players include Arabian International Company Ras Al Khaimah, Mabani Steel LLC, IMCC, Standard Steel Fabrication Co LLC, and Techno Steel.
The structural steel players have been showing a willingness to partner with other players to reduce cost and leverage on mutual competitive advantage. Additionally, technology adoption has also helped reduce operational costs and improve efficiency.
United Arab Emirates Structural Steel Fabrication Market Leaders
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Arabian International Company Ras Al Khaimah
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Mabani Steel LLC
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IMCC
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Standard Steel Fabrication Co LLC
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Techno Steel
*Disclaimer: Major Players sorted in no particular order
United Arab Emirates Structural Steel Fabrication Market News
- September 2023: Abu Dhabi-based EPC company Target forged a strategic alliance with the Abu Dhabi National Oil Company (Adnoc) as part of a broader initiative involving 25 local manufacturers signing a Strategic Collaboration Agreement (SCA). This collaborative venture is in line with Adnoc's ambitious vision to procure USD 19 billion worth of industrial products from UAE-based manufacturers by 2027. Under this agreement, Target will serve as the designated steel fabricator tasked with producing a diverse range of steel structural products crucial for various Adnoc EPC projects. Adnoc has committed to sourcing all its steel fabrication needs exclusively from local manufacturers.
- September 2023: A consortium comprising Emirati companies, including CIM Steel Industry LCC, Rhino Steel, Metal Care Center Factory LCC, and Aziz Steel, outlined plans to establish four steel plants in the United Arab Emirates (UAE) situated in the industrial city of Umm Al Quwain.
United Arab Emirates Structural Steel Fabrication Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS & DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Infrastructure
- 4.2.2 Vision 2030
- 4.2.3 Increasing Tourism
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4.3 Market Restraints
- 4.3.1 Increasing Price of Steel
- 4.3.2 Lack of Skilled Worker
- 4.4 Market Opportunities
- 4.5 Value Chain / Supply Chain Analysis
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4.6 Porter's Five Forces Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Technological Snapshot
- 4.8 Government Regulations & Key Initiatives
5. MARKET SEGMENTATION
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5.1 By End-User Industry
- 5.1.1 Manufacturing
- 5.1.2 Power & Energy
- 5.1.3 Construction
- 5.1.4 Oil & Gas
- 5.1.5 Other End-User Industries
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5.2 By Product Type
- 5.2.1 Heavy Sectional Steel
- 5.2.2 Light Sectional Steel
- 5.2.3 Other Product Types
6. COMPETITIVE LANDSCAPE
- 6.1 Market Competition Overview
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6.2 Company Profiles
- 6.2.1 Arabian International Company Ras Al Khaimah
- 6.2.2 Mabani Steel LLC
- 6.2.3 IMCC
- 6.2.4 Standard Steel Fabrication Co LLC
- 6.2.5 Techno Steel
- 6.2.6 Aarya Engineering
- 6.2.7 Vogue Steel LLC
- 6.2.8 Atteih Steel
- 6.2.9 Age Steel
- 6.2.10 International Building Systems Factory CO. LTD
- 6.2.11 A.S. Husseini & Partner Contracting Company Ltd*
- *List Not Exhaustive
- 6.3 Other Companies
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. APPENDIX
United Arab Emirates Structural Steel Fabrication Industry Segmentation
Structural steel fabrication is the process of bending, cutting, and modeling steel to create a structure. For structural steel fabrication, steel parts are often put together to create different structures of predefined sizes and shapes.
The UAE structural steel fabrication market is segmented by end-user industry (manufacturing, power and energy, construction, oil and gas, and other end-user industries) and product type (heavy sectional steel, light sectional steel, and other product types). The report offers market sizes and forecasts for the UAE structural steel fabrication market in value (USD) for all the above segments.
The report offers the market sizes and forecasts for the UAE structural steel fabrication market in value (USD) for all the above segments.
| By End-User Industry | Manufacturing |
| Power & Energy | |
| Construction | |
| Oil & Gas | |
| Other End-User Industries | |
| By Product Type | Heavy Sectional Steel |
| Light Sectional Steel | |
| Other Product Types |
United Arab Emirates Structural Steel Fabrication Market Research FAQs
How big is the United Arab Emirates Structural Steel Fabrication Market?
The United Arab Emirates Structural Steel Fabrication Market size is expected to reach USD 1.79 billion in 2024 and grow at a CAGR of 8.19% to reach USD 2.65 billion by 2029.
What is the current United Arab Emirates Structural Steel Fabrication Market size?
In 2024, the United Arab Emirates Structural Steel Fabrication Market size is expected to reach USD 1.79 billion.
Who are the key players in United Arab Emirates Structural Steel Fabrication Market?
Arabian International Company Ras Al Khaimah, Mabani Steel LLC, IMCC, Standard Steel Fabrication Co LLC and Techno Steel are the major companies operating in the United Arab Emirates Structural Steel Fabrication Market.
What years does this United Arab Emirates Structural Steel Fabrication Market cover, and what was the market size in 2023?
In 2023, the United Arab Emirates Structural Steel Fabrication Market size was estimated at USD 1.64 billion. The report covers the United Arab Emirates Structural Steel Fabrication Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United Arab Emirates Structural Steel Fabrication Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United Arab Emirates Structural Steel Fabrication Industry Report
Statistics for the 2024 United Arab Emirates Structural Steel Fabrication market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United Arab Emirates Structural Steel Fabrication analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
