Saudi Arabia Construction Market, By Sector (Commercial Construction, Residential Construction, Industrial Construction, Energy & Utilities Construction, Institutional Construction, Others); By Construction Type (Building & Construction, New, Renovation, Repair & Maintenance); By End User (Public, Private), Trend Analysis, Competitive Landscape & Forecast, 2019–2030
Saudi Arabia Construction Market Size Expands at Steady CAGR of 5.19% to Reach Massive Value of USD 96.21 Billion by 2030
Saudi Arabia Construction Market is flourishing because of the government’s significant investments in large infrastructure development programs, and rapid urban development and rapid urbanization across the Kingdom.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia Construction Market size at USD 70.67 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Construction Market size to expand at a CAGR of 5.19% reaching a value of USD 96.21 billion by 2030. Favorable government investments and programs, such as the Kingdom's Vision 2030 National Development Program, as well as growing demand for residential complexes due to increased housing demand are major growth factors for the Saudi Arabia Construction Market. The growing adoption of automation solutions in the building sector is also projected to propel the Saudi Arabia Construction Market during the period in analysis.
Opportunity: Rising private investments in thriving construction industry
Building & construction is one of the most lucrative sectors in Saudi Arabia. As a result, it has been significantly attracting major investments from private players and international investors. For instance, Samsung Engineering and GS Engineering and Construction Corp. won a USD 7.2 billion contract for the gas plant project in Saudi Arabia. In another example, the design and build contract for two new complexes in King Abdullah Financial Sector (KAFD), Saudi Arabia's premier financial sector situated in the center of Riyadh, has been awarded to Taj Dhabi, a subsidiary of Trojan Construction Group.
Impact of Escalating Geopolitical Tensions on Saudi Arabia Construction Market
The geopolitical tensions hinder the growth of the Saudi Arabia Construction Market. For instance, escalating geopolitical tensions in Israel and across the Middle East region have resulted in the disruptions of international shipping and supply chains of construction materials in Saudi Arabia as well. The hindrance to commercial shipping in the Red Sea and Gulf of Aden caused a significant spike in the cost of construction materials due to increased shipping costs which have disrupted the overall growth of the Saudi Arabia Construction Market.
Saudi Arabia Construction Market
Segmental Coverage
Saudi Arabia Construction Market – By Construction Type
Based on construction type, the Saudi Arabia Construction Market is segmented into building & construction, new, renovation, and repair & maintenance. The building & construction segment accounts for the highest market share in the Saudi Arabia Construction Market by construction type. The growth of the segment is mainly attributed to the increasing construction of residential and non-residential buildings. The increasing housing demand in the Kingdom owing to rising population and accessibility to housing loans is directly influencing the building and construction of residential buildings, which is propelling its market growth.
Competitive Landscape
Major players operating in the Saudi Arabia Construction Market include Bechtel, Fluor Corp., Tekfen Construction and Installation Co. Inc., Gilbane Building Co., Jacobs, Afras, BEC Arabia, Mofarreh M. Al Harbi Est, Nesma Holding Co. Ltd., and AL Jazirah Engineers & Consultants.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Saudi Arabia Construction Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Construction Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Saudi Arabia Construction Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Government Significant Investments in Infrastructure, Urban Development
- 3.2.1.2. Rapid Urbanization in Saudi Arabia
- 3.2.1.3. Growing Population and Housing Demand
- 3.2.1.4. Government Initiatives to Promote Constructions
- 3.2.2. Restraints
- 3.2.2.1. Regulatory Complexity in Saudi Arabia
- 3.2.2.2. Lack of Skilled Labor
- 3.2.3. Opportunities
- 3.2.3.1. Increasing Infrastructure Development
- 3.2.3.2. Increasing Adoption of Innovative Technologies like Building Information Modeling (BIM), Prefabrication, and 3D Printing
- 3.2.4. Challenges
- 3.2.4.1. Financing Infrastructure Projects
- 3.2.4.2. Ensuring Worker Safety and Improving Working Conditions
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Saudi Arabia Construction Market: Pricing Analysis
- 5. Saudi Arabia Construction Market: Marketing Strategies
- 6. Saudi Arabia Construction Market Overview
- 6.1. Market Size & Forecast, 2019–2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Sector
- 6.2.1.1. Commercial Construction
- 6.2.1.2. Residential Construction
- 6.2.1.3. Industrial Construction
- 6.2.1.4. Energy and Utilities Construction
- 6.2.1.5. Institutional Construction
- 6.2.1.6. Others
- 6.2.2. By Construction Type
- 6.2.2.1. Building & Construction
- 6.2.2.2. New
- 6.2.2.3. Renovation
- 6.2.2.4. Repair & Maintenance
- 6.2.3. By End User
- 6.2.3.1. Public
- 6.2.3.2. Private
- 7. Competitive Landscape
- 7.1. List of Key Players and Their Offerings
- 7.2. Saudi Arabia Construction Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operation Channel Parameters
- 7.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
- 8. Impact of Escalating Geopolitical Tensions on Saudi Arabia Construction Market
- 9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 9.1. Bechtel
- 9.2. Fluor Corp.
- 9.3. Tekfen Construction and Installation Co. Inc.
- 9.4. Gilbane Building Co.
- 9.5. Jacobs
- 9.6. Afras
- 9.7. BEC Arabia
- 9.8. Mofarreh M Al Harbi Est
- 9.9. Nesma Holding Co Ltd
- 9.10. AL Jazirah Engineers & Consultants
- 9.11. Other Prominent Players
- 10. Key Strategic Recommendations
- 11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents, By Region
- 11.5. Assumption & Limitation
- *Financial information of non-listed companies will be provided as per availability
- **The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
- List of Figures
- Figure 1 Saudi Arabia Construction Market Segmentation
- Figure 2 Saudi Arabia Construction Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 Saudi Arabia Construction Market Size, By Value (USD Billion), 2019–2030
- Figure 5 Saudi Arabia Construction Market Share, By Sector, By Value (USD Billion) 2019–2030
- Figure 6 Saudi Arabia Construction Market Share, By Construction Type, By Value (USD Billion) 2019–2030
- Figure 7 Saudi Arabia Construction Market Share, By End User, By Value (USD Billion) 2019–2030
- List of Tables
- Table 1 Saudi Arabia Construction Market Size, By Value (USD Billion), 2019–2030
- Table 2 Saudi Arabia Construction Market Share, By Sector, By Value (USD Billion) 2019–2030
- Table 3 Saudi Arabia Construction Market Share, By Construction Type, By Value (USD Billion) 2019–2030
- Table 4 Saudi Arabia Construction Market Share, By End User, By Value (USD Billion) 2019–2030
- Table 5 Bechtel Company Overview
- Table 6 Bechtel Financial Overview
- Table 7 Fluor Corp. Company Overview
- Table 8 Fluor Corp. Financial Overview
- Table 9 Tekfen Construction and Installation Co. Inc. Company Overview
- Table 10 Tekfen Construction and Installation Co. Inc. Financial Overview
- Table 11 Gilbane Building Co. Company Overview
- Table 12 Gilbane Building Co. Financial Overview
- Table 13 Jacobs Company Overview
- Table 14 Jacobs Financial Overview
- Table 15 Afras Company Overview
- Table 16 Afras Financial Overview
- Table 17 BEC Arabia Company Overview
- Table 18 BEC Arabia Financial Overview
- Table 19 Mofarreh M Al Harbi Est Company Overview
- Table 20 Mofarreh M Al Harbi Est Financial Overview
- Table 21 Nesma Holding Co Ltd Company Overview
- Table 22 Nesma Holding Co Ltd Financial Overview
- Table 23 AL Jazirah Engineers & Consultants Company Overview
- Table 24 AL Jazirah Engineers & Consultants Financial Overview
Research Assistance
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