United Arab Emirates Structural Steel Fabrication Market Size (2024 - 2029)

The United Arab Emirates is poised to experience significant growth in its structural steel fabrication market, driven by increased steel consumption and a surge in construction activities. As the second-largest market in the Gulf Cooperation Council, following Saudi Arabia, the UAE's market size is expanding due to its focus on economic diversification and infrastructure development. The demand for structural steel is particularly robust in residential, commercial, and infrastructure projects, facilitating rapid construction to meet the country's urbanization needs. Supported by strategic initiatives and a strong development agenda, the UAE's construction sector is expected to continue thriving, contributing to the overall growth of the market.

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Market Size of United Arab Emirates Structural Steel Fabrication Industry

United Arab Emirates Structural Steel Fabrication Market Summary
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

United Arab Emirates Structural Steel Fabrication Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 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
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United Arab Emirates Structural Steel Fabrication Market Size Summary

The United Arab Emirates structural steel fabrication market is poised for significant growth, driven by increased steel consumption and a surge in construction activities. As the second-largest market within the Gulf Cooperation Council, the UAE is experiencing a robust demand for structural steel, particularly in residential, commercial, and infrastructure projects. This demand is fueled by the country's ambitious development agenda, which includes major initiatives like the Projects of the 50, aimed at attracting substantial foreign direct investment. The construction sector, a major contributor to the market, is supported by government and private sector collaborations on megaprojects, which are expected to enhance the UAE's position as a global hub for innovation and tourism. The market's competitive landscape is characterized by a fragmented structure with numerous small and medium-sized players, alongside strategic partnerships and technological advancements that aim to improve efficiency and reduce costs.

The UAE's structural steel fabrication market is further bolstered by significant government expenditure and strategic initiatives aimed at economic diversification and infrastructure development. The country's pipeline of transportation and road infrastructure projects, including high-profile ventures like the Etihad rail and Hyperloop project, underscores the ongoing commitment to enhancing connectivity and urban development. Dubai, with its iconic skyscrapers and rapid urbanization, continues to attract wealthy investors, maintaining its status as a leading city for high-rise buildings. The market is also witnessing strategic collaborations, such as the partnership between Target and Adnoc, which emphasizes local manufacturing and procurement. These developments, coupled with the rebounding oil prices and fiscal surplus, are expected to sustain the market's growth trajectory, positioning the UAE as a key player in the regional and global structural steel fabrication industry.

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United Arab Emirates Structural Steel Fabrication Market Size - Table of Contents

  1. 1. MARKET INSIGHTS & DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growing Infrastructure

      2. 1.2.2 Vision 2030

      3. 1.2.3 Increasing Tourism

    3. 1.3 Market Restraints

      1. 1.3.1 Increasing Price of Steel

      2. 1.3.2 Lack of Skilled Worker

    4. 1.4 Market Opportunities

    5. 1.5 Value Chain / Supply Chain Analysis

    6. 1.6 Porter's Five Forces 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 & Key Initiatives

  2. 2. MARKET SEGMENTATION

    1. 2.1 By End-User Industry

      1. 2.1.1 Manufacturing

      2. 2.1.2 Power & Energy

      3. 2.1.3 Construction

      4. 2.1.4 Oil & 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

United Arab Emirates Structural Steel Fabrication Market Size FAQs

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.

In 2024, the United Arab Emirates Structural Steel Fabrication Market size is expected to reach USD 1.79 billion.

United Arab Emirates Structural Steel Fabrication Market Report Snapshots

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