sales@reportocean.com (Bussiness Sales)
+18882123539 (Us - Toll Free)
+919997112116 (Rest Of World)
GCC Prefabricated Buildings Market, By Material (Steel, Concrete & Cement, Wood); By Systems (Cellular System, Panel System, Skeleton System, Combined System); By End User (Residential, Commercial, Industrial); By Region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates), 2019-2029

GCC Prefabricated Buildings Market, By Material (Steel, Concrete & Cement,...

Home / Categories / Construction
GCC Prefabricated Buildings Market, By Material (Steel, Concrete & Cement, Wood); By Systems (Cellular System, Panel System, Skeleton System, Combined System); By End User (Residential, Commercial, Industrial); By Region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates), 2019-2029
GCC Prefabricated Buildings Market, By...
Report Code
RO4/142/1008

Publish Date
22/Aug/2024

Pages
200
PRICE
$ 1800/-
This is a single user license, allowing one specific user access to the product. The product is a PDF.
$ 2350/-
This is a 1-5 user license, allowing up to five users have access to the product. The product is a PDF.
$ 2850/-
This is an enterprise license, allowing all employees within your organization access to the product. The product is a PDF..
Report Overview
Cost-efficiency, faster construction times, reduced environmental impact, and improved quality control. Growing urbanization, housing demand, and technological advancements making it an attractive choice for various construction projects are key factors propelling the growth of the GCC Prefabricated Buildings Market during the forecast period between 2023 and 2029.

GCC Prefabricated Buildings Market - Industry Trends & Forecast Report, 2029

GCC prefabricated buildings market size was estimated at USD 4.69 billion in 2022. During the forecast period between 2023 and 2029, the size of GCC prefabricated buildings market is projected to grow at a CAGR of 7.94% reaching a value of USD 8.01 billion by 2029. The prefabricated buildings market is driven by several key factors, including cost-efficiency, reduced construction time, sustainability, and flexibility in design. Prefabricated structures often offer cost savings due to streamlined production processes and reduced material wastage. Their quicker construction times make them appealing to various industries, such as commercial and residential real estate, where time is a critical factor. Also, the growing emphasis on sustainable construction practices and eco-friendly materials has boosted the demand for prefabricated buildings. Their modular nature allows for versatile design options, further fueling their popularity in the construction industry.

Prefabricated Buildings - Overview

Prefabricated buildings, often referred to as prefab or modular construction, involve the assembly of structural components in a factory before transportation to a construction site for final assembly. These structures can range from residential homes and commercial buildings to temporary shelters and industrial facilities. Prefabrication offers several advantages, including reduced construction time, cost savings, and improved quality control. It allows for greater customization and sustainability, as well as flexibility in design and function. Prefabricated buildings are a popular choice for various construction projects, offering efficiency and innovation in the construction industry.

Growth Drivers

Sustainable Construction Practices

GCC prefabricated buildings market is witnessing a significant growth driver in the form of sustainable construction practices. With the increasing awareness of environmental concerns and the need for energy-efficient solutions, prefabricated buildings offer a more eco-friendly and resource-efficient alternative to traditional construction methods. These structures are designed for energy conservation, reduced waste, and quicker assembly, aligning with the GCC region's commitment to sustainability. Government incentives, stricter building codes, and a growing demand for affordable housing further contribute to the expansion of the prefabricated building market in the Gulf Cooperation Council (GCC) countries.

Rapid Urbanization and Population Growth

GCC prefabricated buildings market is experiencing unprecedented growth due to the synergistic impact of rapid urbanization and population expansion across the region. As urban centers burgeon and populations swell, the demand for efficient, cost-effective, and sustainable construction solutions is surging. Prefabricated buildings offer an ideal solution, as they allow for faster construction, reduced labor costs, and environmentally friendly practices. This trend is not only addressing the pressing housing and infrastructure needs but also driving innovation in the construction industry, making the GCC a hotspot for prefabricated building solutions.

Restraints

High Dependency on Oil Price

The high dependency on oil prices is a significant restraint in the GCC prefabricated buildings market. The economies of Gulf Cooperation Council (GCC) countries heavily rely on oil revenues, making them vulnerable to fluctuations in global oil prices. When oil prices are low, government budgets are strained, leading to reduced infrastructure and construction spending, which directly impacts the demand for prefabricated buildings. This dependence on oil prices can result in an unpredictable and unstable market, making it challenging for prefabricated building companies to plan and invest confidently in the region, hindering the market's growth and development.

Impact of COVID-19 on GCC Prefabricated Buildings Market

The COVID-19 pandemic had a significant mixed impact on the GCC prefabricated buildings market. The pandemic caused disruptions to the global supply chain, making it difficult and expensive to obtain materials and components for prefabricated buildings. Additionally, the pandemic led to labor shortages, as many workers were unable to work due to illness or quarantine requirements. As a result, the construction of prefabricated buildings was delayed or cancelled in many cases. On the other hand, the COVID-19 pandemic also led to an increased demand for prefabricated buildings in certain sectors, such as healthcare and education. This was due to the need for rapid construction of new facilities to accommodate the surge in COVID-19 patients and students across the GCC countries. The pandemic also accelerated the adoption of digital technologies in the construction industry, which is expected to benefit the GCC prefabricated buildings market in the long term. In the short term, the pandemic caused disruptions and delays. However, in the long term, the pandemic is expected to boost the growth of the GCC prefabricated market, as it has accelerated the adoption of prefabricated construction methods and digital technologies. The COVID-19 pandemic has also highlighted some of the key benefits of prefabricated buildings, such as their speed of construction, their ability to be customized to meet specific needs, and their relatively low cost. These benefits are expected to drive the growth of the prefabricated building market across GCC countries.

GCC Prefabricated Buildings Market

Segmental Coverage

GCC Prefabricated Buildings Market - By Material

Based on material, GCC prefabricated buildings market is divided into Steel, Concrete & Cement, and Wood segments. The steel segment stands out as the largest, signifying a substantial portion of the market. Steel prefabricated buildings are gaining prominence in the GCC region due to their durability, versatility, and rapid construction capabilities. This segment's dominance is driven high structural strength, resistance to environmental conditions, and the ability to meet diverse construction needs, making it a preferred choice for a wide range of building projects in the Gulf Cooperation Council (GCC) countries.

GCC Prefabricated Buildings Market - By Systems

By systems, GCC prefabricated buildings market is divided into Cellular System, Panel System, Skeleton System, and Combined System segments. The cellular system stands out as the largest, reflecting its prominent role in the market. This system is widely adopted for its efficiency in construction, offering pre-manufactured building blocks that can be easily assembled to create structures. Its popularity is driven by factors such as cost-effectiveness, rapid construction, and versatility in design. While the other segments play crucial roles in the market, the Cellular System leads the way in transforming the construction landscape in the GCC region.

GCC Prefabricated Buildings Market - By End User

Based on end user, GCC prefabricated buildings market is divided into Residential, Commercial, and Industrial segments. The residential sector segment is the largest in the market, which includes prefabricated homes, housing developments, and other residential construction projects. With a growing population and urbanization in the Gulf Cooperation Council (GCC) region, there is a substantial demand for affordable and efficient housing solutions, making the Residential segment a prominent and rapidly expanding part of the prefabricated buildings market. Commercial and Industrial segments also play essential roles, but the Residential sector stands out as the most substantial in terms of market share and growth potential.

GCC Prefabricated Buildings Market - By Country

Geographically, GCC prefabricated buildings market is divided into Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. Saudi Arabia stands as the largest country, comprising a significant portion of the market. Saudi Arabia's dominance in the prefabricated buildings sector is driven by its extensive construction and infrastructure development initiatives, including commercial, residential, and industrial projects. The country's commitment to diversifying its economy, coupled with a rapidly growing population, has led to a substantial demand for prefabricated structures, offering cost-effective and efficient construction solutions. Also, Saudi Arabia's strategic geographic location and its status as an economic hub in the Middle East contribute to its prominence in the GCC prefabricated buildings market.

Competitive Landscape

Major players in the GCC prefabricated buildings market include Cemex, Extra Co Group of Companies, Albaddad International, Speed House Group of Companies, Exeed Precast, RDB EL Seif Company Ltd, Memaar Building Systems (MBS), Specialist Services Group, Al Khodari Sons Company, and Red Sea International. To enhance their market share and expand their reach, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

In May 2020 - Speed House became the exclusive producer and distributor for LTG's "condos" housing units in the UAE, Saudi Arabia, and Lebanon.

In November 2020 - Albaddad established field hospitals and Drive-Thru checkpoints in a record time in the UAE. The company established Prince Hashem bin Al Hussein Field Hospital within 12 days.

By Material
Steel
Concrete & Cement
Wood

By Systems
Cellular System
Panel System
Skeleton System
Combined System

By End User
Residential
Commercial
Industrial

By Region
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE

OUR CLIENTS

500 N Michigan Ave, Suite 600, Chicago, Illinois 60611, UNITED STATES
+18882123539
sales@reportocean.com