GCC Construction Market Size, Industry Growth, and Research Report 2024-2032
- Ruby Arora
- Oct 9, 2024
- 2 min read
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 expanding due to large-scale infrastructure projects, economic diversification efforts, and increasing foreign investments.
Download sample copy of the Report: https://www.imarcgroup.com/gcc-construction-market/requestsample
GCC Construction Market Trends and Drivers:
High investment in large-scale infrastructure projects and government initiatives aimed at economic diversification are driving growth.
Visionary programs like Vision 2030 and Centennial 2071 are promoting investments in mega-projects such as smart cities, tourism hubs, and transportation networks.
These projects aim to elevate global standing and reduce oil dependency by expanding sectors like tourism, logistics, and real estate.
High-profile developments like NEOM, Dubai Creek Tower, and FIFA World Cup stadiums are increasing demand for advanced construction services, materials, and technologies.
Increasing focus on sustainability and smart infrastructure in long-term strategies.
Adoption of green building standards and renewable energy integration to meet global sustainability goals.
Greater use of innovative materials, energy-efficient systems, and smart technologies to reduce carbon footprints and enhance efficiency.
Advancements in construction technologies, such as modular construction, 3D printing, and Building Information Modeling (BIM), improving timelines and reducing costs.
The push for sustainable, smart developments, along with ambitious infrastructure plans, will continue driving growth in the coming years.
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
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Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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