The Middle East construction industry market is expected to grow at a CAGR of 6.3% during the forecast period of 2019-2028. The construction industry in the Middle East region includes residential, commercial, and infrastructure development projects. The growth of the Middle East construction industry market is driven by several factors, including government initiatives to promote infrastructure development and urbanization, increasing foreign investment in the region, and the growth of the tourism industry. In addition, the region’s population growth and the need for new housing and commercial buildings are also contributing to the growth of the market.
The report highlights some challenges facing the Middle East construction industry market, including the impact of the COVID-19 pandemic on the industry, supply chain disruptions, and the availability of skilled labor and materials. In addition, geopolitical tensions in the region and fluctuations in oil prices may also impact the growth of the market.
Key Segmental and Regional Analysis
Based on type, the RationalStat report identifies infrastructure development as the largest segment of the Middle East construction industry market, accounting for the majority of the market share. This is due to government initiatives to promote infrastructure development and urbanization, such as the construction of airports, roads, and other transportation infrastructure. Regionally, the report identifies the GCC as the largest market for construction industry services in the Middle East, driven by the growth of construction and infrastructure development projects across the country. Other countries, such as UAE and Qatar, are also expected to contribute significantly to the growth of the GCC construction market.
Market Structure and Competitive Landscape
Some of the prominent players that contribute significantly to the Middle East Construction Industry Market market growth include, Arabtec Construction, Consolidated Contractors Company (CCC), Daewoo Engineering & Construction, Larsen & Toubro Limited (L&T), Saudi Binladin Group (SBG), Samsung Engineering, SNC-Lavalin Group, Vinci Construction, Arab Contractors Company, Orascom Construction, ACC Limited, China State Construction Engineering Corporation (CSCEC), Mace Group, Drake & Scull International, Al-Futtaim Carillion (AFC), etc. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Partnerships and collaborations, and product launches are some of the strategies followed by industry players.
Key Market Segmentation
RationalStat has segmented the Middle East Construction Industry Market on the basis of type, end user, and region.
- By Type
- Power and Energy
- By End User
- By Region
- Rest of the Middle East
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The report is intended for Infrastructure developers, construction companies, government organizations, Investors and financiers, regulatory agencies, Suppliers and service providers and market research firms, among others. The report provides an in-depth analysis of market size, consumption pattern, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.