Saudi Arabia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

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Published: September 29, 2023 Report Code: GDCN1234MR-ST

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Saudi Arabia Construction Market Report Overview

The Saudi Arabia construction market size was $133.1 billion in 2022. The market is projected to achieve an AAGR of more than 4% during 2024-2027. The market growth over the forecast period will be supported by investments and megaprojects under the framework of Saudi Vision 2030.

Saudi Arabia Construction Market Outlook, 2022-2027 ($ Billion)

Saudi Arabia Construction Market Outlook, 2022-2027 ($ Billion)

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The Saudi Arabia construction market research report provides detailed market analysis, information, and insights into the Saudi Arabia construction industry, including the industry’s growth prospects by market, project type, and construction activity. The report also delivers critical insight into the impact of industry trends and issues and an analysis of key risks and opportunities in the Saudi Arabian construction industry. It also analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report discusses the sectors in the construction market and provides an overview of each sector along with their driving factors.

Market Size (2022) $133.1 billion
AAGR (2024-2027) >4%
Forecast Period 2023-2027
Historical Period 2018-2022
Key Sectors ·        Commercial Construction

·        Industrial Construction

·        Infrastructure Construction

·        Energy and Utilities Construction

·        Institutional Construction

·        Residential Construction
Key Contractors ·        Nesma Holding Co Ltd

·        Mofarreh M Al Harbi Est

·        China Railway Construction Corporation Group

·        Senaat General Holding Corp

·        Al-Dar Al-Arabia Co

·        Larsen & Toubro Ltd
Key Consultants ·        AECOM

·        Khatib & Alami Holding

·        SNC-Lavalin Group Inc

·        D G Jones & Partners

·        Buro Happold Ltd

·        WSP Global Inc
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Saudi Arabia Construction Market Segmentation by Sectors

Residential construction was the leading sector in the Saudi Arabia construction market in 2022.

The key sectors in the Saudi Arabia construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The commercial sector’s growth will be supported by investments in leisure and hospitality, office space, retail markets, data center, and logistic center construction projects.

Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants. The sector growth over the forecast period will be supported by investment in the manufacturing and industrial sectors, as well as an improvement in the wider economy.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The growth of the sector over the forecast period will be supported by public and private sector investments in transport infrastructure projects.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The growth of the sector during the forecast period will be supported by the government’s aim to increase renewable energy capacity by 2030 and achieve zero net carbon emissions by 2060.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Forecast-period growth in the institutional construction sector will be supported by investments in the construction of new educational and healthcare buildings.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The sector growth will be supported by investments in developing housing projects, coupled with the government’s target to increase homeownership by 2030 as a part of the Saudi Vision 2030 Plan.

Saudi Arabia Construction Market Analysis by Sectors, 2022 (%)

Saudi Arabia Construction Market Analysis by Sectors, 2022 (%)

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Saudi Arabia Construction Market - Competitive Landscape

Nesma Holding Co Ltd was the leading contractor and AECOM was the leading consultant in the Saudi Arabia construction market in 2022.

Some of the leading contractors in the Saudi Arabia construction market are:

  • Nesma Holding Co Ltd
  • Mofarreh M Al Harbi Est
  • China Railway Construction Corporation Group
  • Senaat General Holding Corp
  • Al-Dar Al-Arabia Co
  • Larsen & Toubro Ltd

Foreign contractors account for a majority share of the project pipeline in the Saudi Arabia construction market.

Saudi Arabia Construction Market Analysis by Contractors, 2022 (%)

Saudi Arabia Construction Market Analysis by Contractors, 2022 (%)

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Some of the leading consultants in the Saudi Arabia construction market are:

  • AECOM
  • Khatib & Alami Holding
  • SNC-Lavalin Group Inc
  • D G Jones & Partners
  • Buro Happold Ltd
  • WSP Global Inc

Consultants with headquarters outside Saudi Arabia are involved in most of the project pipeline by value.

Saudi Arabia Construction Market Analysis by Consultants, 2022 (%)

Saudi Arabia Construction Market Analysis by Consultants, 2022 (%)

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Saudi Arabia Construction Market – Latest Developments

  • The largest commercial projects currently in the pipeline include the Diriyah Gate Development: Phase I (DG1) project which consists of the construction of Wadi Safar Development. The Wadi Safar Development comprises hotels and resorts, the Polo Equestrian Club, wildlife sanctuary, golf courses, the restoration of historic Wadi Hanifa, the transformation of Wadi Safar, Bujairi District, and other related facilities.
  • The largest infrastructure projects currently in the pipeline include King Salman International Airport in Riyadh. The Airport is expected to be one of the world’s largest airports and will be powered by renewable energy.

Segments Covered in the Report

Saudi Arabia Construction Sectors Outlook (Value, $ Billion, 2018-2027)

  • Commercial Construction
  • Industrial Construction
  • Infrastructure Construction
  • Energy and Utilities Construction
  • Institutional Construction
  • Residential Construction

Scope

This report provides:

  • A comprehensive analysis of the construction industry in Saudi Arabia.

  • Historical and forecast valuations of the construction industry in Saudi Arabia, featuring details of key growth drivers.

  • Segmentation by sector and by sub-sector.

  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

  • Listings of major projects, in addition to details of leading contractors and consultants.

Reasons to Buy

  • Identify and evaluate market opportunities using GlobalData’s standardized valuation and forecasting methodologies.

  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.

  • Understand the latest industry and market trends.

  • Formulate and validate strategy using GlobalData’s critical and actionable insight.

  • Assess business risks, including cost, regulatory, and competitive pressures.

  • Evaluate competitive risk and success factors.

Larsen & Toubro Ltd

Mofarreh M Al Harbi Est

Almabani General Contractors

National Marine Dredging Co

Buro Happold Ltd

D G Jones & Partners

Khatib & Alami Holdinge

Dar Al-Handasah Consultants Shair and Partners Holdings Ltd

Egis Group

Table of Contents

  • 1. Executive Summary

  • 2. Construction Industry: At-a-Glance

  • 3. Context

    • 3.1. Economic Performance

    • 3.2. Political Environment and Policy

    • 3.3. Demographics

    • 3.4. Risk Profile

  • 4. Construction Outlook

    • 4.1. All Construction

      • 4.1.1. Outlook

      • 4.1.2. Latest news and developments

      • 4.1.3. Construction Projects Momentum Index

    • 4.2. Commercial Construction

      • 4.2.1. Outlook

      • 4.2.2. Project analytics

      • 4.2.3. Latest news and developments

    • 4.3. Industrial Construction

      • 4.3.1. Outlook

      • 4.3.2. Project analytics

      • 4.3.3. Latest news and developments

    • 4.4. Infrastructure Construction

      • 4.4.1. Outlook

      • 4.4.2. Project analytics

      • 4.4.3. Latest news and developments

    • 4.5. Energy and Utilities Construction

      • 4.5.1. Outlook

      • 4.5.2. Project analytics

      • 4.5.3. Latest news and developments

    • 4.6. Institutional Construction

      • 4.6.1. Outlook

      • 4.6.2. Project analytics

      • 4.6.3. Latest news and developments

    • 4.7. Residential Construction

      • 4.7.1. Outlook

      • 4.7.2. Project analytics

      • 4.7.3. Latest news and developments

  • 5. Key Industry Participants

    • 5.1. Contractors

    • 5.2. Consultants

  • 6. Construction Market Data

  • 7. Appendix

    • 7.1. What is this Report About?

    • 7.2. Definitions

    • 7.3. CRI Methodology

  • 8. About GlobalData

  • 9. Contact Us

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