According to the latest report by IMARC Group, titled “Saudi Arabia Prefabricated Building and Structural Steel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the Saudi Arabia prefabricated building and structural steel market reached a value of US$ 1577.5 Million in 2020. Looking forward, IMARC Group expects the Saudi Arabia prefabricated building and structural steel market to exhibit moderate growth during 2021-2026. Prefabricated buildings refer to structures manufactured off-site and then transported and assembled on the construction site. On the other hand, structural steel is the basic framework wherein the prefabricated components are installed. In Saudi Arabia, prefabricated building and structural steel have gained traction as they offer numerous advantages, such as durability, design flexibility, environment-friendly nature, minimal maintenance, easy expansion, time efficiency, and affordability than conventionally constructed buildings.
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Saudi Arabia Prefabricated Building And Structural Steel Market Trends:
The Saudi Arabia prefabricated building and structural steel market is primarily driven by their widespread usage to construct housing complexes, offices, warehouses, and camp facilities. Additionally, the Government of Saudi Arabia is heavily investing in infrastructural projects like Vision 2030, NEOM city, Jeddah Waterfront and Entertainment City, thereby contributing to the market growth. Furthermore, the growing need for affordable housing due to the rising population and influx of expatriates has augmented the product demand. Other factors, including the expanding construction sector, rapid urbanization, and increasing environmental concerns, are also anticipated to propel the market growth.
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Saudi Arabia Prefabricated Building And Structural Steel Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Player:
Key Highlights of the Report:
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