Saudi Arabia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027
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Saudi Arabia Construction Market Report Overview
The Saudi Arabia construction market size was $137 billion in 2022. The market is projected to achieve an AAGR of 4% during 2024-2027. The Saudi Arabian construction industry growth is owing to the increasing investments in transport, renewable energy, tourism, industrial, and housing projects.
Saudi Arabia Construction Market Outlook, 2022-2027 ($ Billion)
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The Saudi Arabia construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence Saudi Arabia’s construction market growth in the coming years.
Market Size (2022) | $137 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 · Senaat General Holding Corp · China Railway Construction Corporation Group · Al-Dar Al-Arabia Co · Power Construction Corporation of China · Hyundai Motor Group |
Key Consultants | · AECOM
· Khatib & Alami Holding · SNC-Lavalin Group Inc · Buro Happold Ltd · Jacobs Engineering Group Inc · WSP Global Inc · Bechtel Group Inc · DG Jones & Partners (ME) Ltd |
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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.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The government’s focus on infrastructure development to upgrade the country’s rail, road, and other public transport infrastructure will support the sector’s growth during the forecast period.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry will grow over the forecast period owing to government initiatives to provide affordable housing and achieve a target to increase homeownership to 70% by 2030.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Investments by public and private sectors in developing renewable energy and gas infrastructure will drive the sector growth between 2024 and 2027.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Factors such as the government’s focus on boosting the tourism sector, coupled with investments in leisure and hospitality and retail buildings, will drive the sector’s growth during the forecast period.
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. Investments in the country’s manufacturing and mining projects will drive the sector’s growth during the forecast period.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Factors such as public and private sector investments in health, education, and research infrastructure will fuel the growth of this sector in the coming years.
Saudi Arabia Construction Market Analysis by Sectors, 2022 (%)
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Saudi Arabia Construction Market - Competitive Landscape
Nesma Holding Co Ltd emerged as the leading contractor and AECOM as the leading consultant in the Saudi Arabia construction market in 2022
A few of the leading contractors in the Saudi Arabia construction market are:
- Nesma Holding Co Ltd
- Mofarreh M Al Harbi Est
- Senaat General Holding Corp
- China Railway Construction Corporation Group
- Al-Dar Al-Arabia Co
- Power Construction Corporation of China
- Hyundai Motor Group
Domestic contractors account for most of the project pipeline in the Saudi Arabia construction market. Firms based in China and South Korea are the dominant foreign contractors.
Saudi Arabia Construction Market Analysis by Contractors, 2022 (%)
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A few of the leading consultants in the Saudi Arabia construction market are:
- AECOM
- Khatib & Alami Holding
- SNC-Lavalin Group Inc
- Buro Happold Ltd
- Jacobs Engineering Group Inc
- WSP Global Inc
- Bechtel Group Inc
- DG Jones & Partners (ME) Ltd
Consultants with headquarters in Saudi Arabia are involved in most of the project pipeline by value. Among foreign consultants, firms based in the US and the UK are dominant in terms of project values.
Saudi Arabia Construction Market Analysis by Consultants, 2022 (%)
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Saudi Arabia Construction Market - Latest Developments
- In September 2023, ROSHN Group announced that it signed commercial partnerships valued at SAR9 billion ($2.4 billion) in the construction and infrastructure for ROSHN developments across the country.
- In October 2023, a project to construct the Tabuk Hospital was approved by the Dr. Sulaiman Al Habib Medical Services Group Co. The construction activities on the project are scheduled to be completed by 2027.
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.
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
Table
Figures
Frequently asked questions
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What was the Saudi Arabia construction market size in 2022?
The construction market size in Saudi Arabia was $137 billion in 2022.
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What will the Saudi Arabia construction market growth rate be during the forecast period?
The construction market in Saudi Arabia is projected to achieve an AAGR of 4% during 2024-2027.
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Which was the leading sector in the Saudi Arabia construction market in 2022?
Residential construction was the leading sector in the Saudi Arabia construction market in 2022.
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Which are the leading contractors in the Saudi Arabia construction market in 2022?
The leading contractors in the Saudi Arabian construction market are Nesma Holding Co. Ltd, Mofarreh M Al Harbi Est, Senaat General Holding Corp, China Railway Construction Corporation Group, Al-Dar Al-Arabia Co, Power Construction Corporation of China, and Hyundai Motor Group among others.
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Who are the leading consultants in the Saudi Arabia construction market in 2022?
The leading consultants in the Saudi Arabian construction market are AECOM, Khatib & Alami Holding, SNC-Lavalin Group Inc, Buro Happold Ltd, Jacobs Engineering Group Inc, WSP Global Inc, Bechtel Group Inc, and DG Jones & Partners (ME) Ltd among others.
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