Middle East & Africa Ready Mix Concrete Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by End Use (Residential, Commercial, and Others)
The Middle East & Africa ready mix concrete market is expected to grow from US$ 36,404.32 million in 2022 to US$ 44,003.29 million by 2028; it is estimated to grow at a CAGR of 3.2% from 2022 to 2028.
Escalation in Commercial and Residential Construction Projects
Ready mix concrete is widely used in nearly all construction projects owing to benefits such as reduced construction time, low maintenance cost, and versatility. The rapid population growth has urged government bodies to promote reforms in urban planning. For instance, Dubai’s population increased by 0.1 million from 2020 to 2022, with the government projection of 5.8 million by 2040. The country’s economic stability, better connectivity, low cost of energy and government diversification strategy are the factors responsible for driving investors and customers to invest in residential and commercial properties. The implementation of government initiatives such as smart cities is further driving the Middle East & Africa ready mix concrete sales.
Middle East & Africa Ready Mix Concrete Market Overview
The Middle East & Africa (MEA) primarily includes South Africa, Saudi Arabia, and the UAE. The growing demand among real estate developers and the surge in infrastructural projects owing to industrialization and urbanization in the region are the key factors anticipated to drive the ready mix concrete market. The rising urban population has improved the construction of private residential buildings from semi-urban and urban cities. The government is looking forward to investing large amounts in the building and construction industry. The growing need for residential and non-residential buildings in the region has created lucrative opportunities for the ready mix concrete market in the Middle East and Africa.
Middle East & Africa Ready Mix Concrete Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Ready Mix Concrete Market Segmentation
The Middle East & Africa ready mix concrete market is segmented on the basis of end use and country. Based on end use, the Middle East & Africa ready mix concrete market is segmented into residential, commercial, and others. The residential segment held the largest market share in 2022.
Based on country, the Middle East & Africa ready mix concrete market is segmented into South Africa, Saudi Arabia, the UAE, Nigeria, Egypt, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market share in 2022.
Vicat SA; LafargeHolcim; Buzzi Unicem S.p.A; CEMEX S.A.B. DE C.V.; HeidelbergCement AG; and ULTRATECH CEMENT LTD. are the leading companies operating in the Middle East & Africa ready mix concrete market.
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