GCC Construction Market Expected to Grow at a CAGR of 5.1% during 2024-2032

Construction Market in GCC 2024:

How Big is the GCC Construction Industry?

The GCC construction market size reached USD 140 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 219 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during ​2024-2032​. The market is expanding due to large-scale infrastructure projects, government initiatives, and increased investments in sustainable developments.

Market Statistics

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Size in 2023: USD 140 Billion

Market Size in 2032: USD 219 Billion

Market Growth Rate (CAGR) 2024-2032: 5.1%


GCC Construction Market Trends and Drivers:

A high investment in large-scale infrastructure projects as well as initiatives by government authorities aimed at economic diversification are the factors responsible for the growth of the GCC construction market. Additionally, visionary programs like Vision 2030 and the Centennial 2071 have spurred investments in mega-projects, including smart cities, tourism hubs, and transportation networks. These projects are not only aimed at boosting the global standing but also at reducing reliance on oil by expanding sectors like tourism, logistics, and real estate. Moreover, the construction of high-profile developments such as NEOM, Dubai Creek Tower, and stadiums for the FIFA World Cup has further fueled demand for advanced construction services, materials, and technologies.

A major trend in the GCC construction market is the increasing emphasis on sustainability and smart infrastructure. In addition to this, as part of their long-term strategies, GCC countries are adopting green building standards and renewable energy integration to align with global sustainability goals. The use of innovative materials, energy-efficient systems, and smart technologies in building designs is becoming more prevalent, with a focus on reducing carbon footprints and enhancing operational efficiency, thereby escalating the market. Furthermore, advancements in construction technology, such as modular construction, 3D printing, and Building Information Modeling (BIM), are transforming the industry by improving project timelines and reducing costs. The push toward sustainable and smart developments, alongside the ambitious infrastructure plans, is expected to continue driving growth in the GCC construction market in the coming years, making it a dynamic and evolving sector poised for long-term expansion.

Request for a sample copy of this report: https://www.imarcgroup.com/gcc-construction-market/requestsample

GCC Construction Industry Segmentation:

The report has segmented the market into the following categories:

Sector Insights:

  • Commercial Construction
  • Residential Construction
  • Industrial Construction
  • Infrastructure (Transportation) Construction
  • Energy and Utilities Construction

Country Insights:

  • Saudi Arabia
  • United Arab Emirates
  • Qatar
  • Kuwait
  • Oman
  • Bahrain

Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=21169&flag=C

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Key highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Strategic Recommendations
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Contact Us:  

IMARC Group 

134 N 4th St. Brooklyn, NY 11249, USA 

Email: sales@imarcgroup.com 

Tel No:(D) +91 120 433 0800 

United States: +1-631-791-1145

Comments

Post a Comment

Popular posts from this blog

Tangential Flow Filtration Market Size Worth US$ 1.7 Billion by 2028 | CAGR: 6.9%: IMARC Group

Image
IMARC Group, a leading market research company, has recently released a report titled “ Tangential Flow Filtration Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 .” The study provides a detailed analysis of the industry, including the global tangential flow filtration market size , share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. How Big is the Tangential Flow Filtration Market? The global tangential flow filtration market size reached US$ 1.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028. What is Tangential Flow Filtration? Tangential Flow Filtration (TFF), also known as cross-flow filtration, is a sophisticated and indispensable technique in the field of bioprocessing and biotechnology. TFF is a specialized filtration method used for the
Read more

US Paper Cups and Paper Plates Market is Booming and Predicted to Hit US$ 22.12 Billion by 2032

Image
IMARC Group, a leading market research company, has recently releases report titled “US Paper Cups and Paper Plates Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” . The study provides a detailed analysis of the industry, including the US paper cups and paper plates market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. How Big is the US Paper Cups and Paper Plates Market? The US paper cups and paper plates market size reached US$ 21.68 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 22.12 Billion by 2032. Request for a PDF sample of this report: https://www.imarcgroup.com/us-paper-cups-plates-market/requestsample Factors Affecting the Growth of the US Paper Cups and Paper Plates Industry: Environmental Concerns and Sustainability Initiatives: The growth of the U.S. paper cups and paper plates market is significantly
Read more

Indonesia Telecom Market Size, Industry Trends, Share, Growth and Report 2024-2032

Image
IMARC Group, a leading market research company, has recently releases report titled “Indonesia Telecom Market Report by Services (Voice Services, Data and Messaging Services, OTT and Pay-TV Services), and Region 2024-2032.” . The study provides a detailed analysis of the industry, including the Indonesia telecom market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. How Big is the Indonesia Telecom Market? Indonesia telecom market size is projected to exhibit a growth rate (CAGR) of 1.2% during 2024-2032.  Request for a PDF sample of this report: https://www.imarcgroup.com/indonesia-telecom-market/requestsample Indonesia Telecom Market Trends and Drivers: The Indonesia telecom market is experiencing significant growth, primarily driven by the increasing penetration of smartphones and internet services. Furthermore, the rising middle-class population across the country and their gr
Read more