GCC Construction Market Statistics, Industry Analysis, Growth and Forecast Report from 2024-2032

Construction Market - GCC

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%

According to IMARC Group's report titled "GCC Construction Market Report and Forecast 2024-2032," the market 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 growing rapidly due to increased infrastructure projects, government investments, and rising demand for residential, commercial, and industrial developments.

Download sample copy of the Report: https://www.imarcgroup.com/gcc-construction-market/requestsample

GCC Construction Market Trends and Drivers:

• Expanding government initiatives and private sector investments in large-scale infrastructure projects are key drivers of the GCC construction market growth.
• Regional focus, particularly in Saudi Arabia, on economic diversification away from oil (e.g., Vision 2030) is boosting demand for commercial, residential, and industrial developments.
• Rapid urbanization and population growth are creating increased demand for sustainable and efficient building solutions.
• Mega-projects, including NEOM, the Red Sea Project, and Expo 2020 in Dubai, are significantly contributing to the market expansion.
• Growing emphasis on sustainability, with eco-friendly construction practices and renewable energy integration, is influencing market growth.
• Adoption of advanced construction technologies such as prefabrication, 3D printing, and smart building solutions is improving project efficiency and cost-effectiveness.
• Government regulations promoting environmental sustainability and green building standards are driving innovation among contractors and developers.
• Digitization, including Building Information Modeling (BIM) and smart city infrastructure, is expected to be a major factor in the market's future expansion.

GCC Construction Industry Segmentation:

The market report offers a comprehensive analysis of the segments, highlighting those with the largest GCC construction market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.

 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

Request for customization: https://www.imarcgroup.com/request?type=report&id=21169&flag=C

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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