Construction Industry Today

GCC Construction Market is Growing at a CAGR of 5.20% During the Forecast Period 2024-2032

GCC construction market size is projected to exhibit a growth rate (CAGR) of 5.20% during ​2024-2032​.
Published 30 April 2024

The latest report by IMARC Group, titled “GCC Construction Market Report by Sector (Commercial Construction, Residential Construction, Industrial Construction, Infrastructure (Transportation) Construction, Energy and Utilities Construction), and Country 2024-2032” The study provides a detailed analysis of the industry, including the GCC Construction Market size, share, trends, price, growth, and forecasts. The market size is projected to exhibit a growth rate (CAGR) of 5.20% during 2024-2032.

GCC Construction Market Trends:

The construction sector encompasses a broad range of activities related to the development, building, and maintenance of infrastructure and buildings. It involves processes such as planning, design, financing, and execution, which together facilitate the creation of residential, commercial, and industrial structures. Construction is a cornerstone of economic development and a critical component of societal progress, providing essential facilities and infrastructure that enhance the quality of life and increase productivity. The industry employs a diverse range of professionals, from architects and engineers to builders and tradespeople, each contributing specialized skills to bring projects from conceptual designs to completed structures. Essential to this sector is the use of various materials, including steel, concrete, and timber, alongside advanced technologies such as Building Information Modeling (BIM) and automated machinery, which help improve efficiency, safety, and sustainability in construction practices.

The GCC construction market is experiencing significant growth driven by the extensive demand for new infrastructure projects, including airports, highways, and ports, supported by substantial investments from GCC governments. These projects are crucial for enhancing the regional connectivity and supporting the economic diversification strategies away from oil dependency. Besides, the region is witnessing a surge in the development of mega-projects such as NEOM in Saudi Arabia and the expansion of tourism and leisure facilities across the region, particularly in preparation for global events like the FIFA World Cup in Qatar. Another major driver is the increasing emphasis on sustainable and green building practices, motivated by global environmental concerns and the need to improve energy efficiency in buildings. Moreover, the trend toward smart cities and the integration of digital technologies into building operations are further stimulating the construction sector. These technologies enhance operational efficiencies and improve the overall sustainability of construction projects.

Moreover, the rising population and urbanization rates are generating a continuous need for residential and commercial properties, adding further momentum to the construction industry in the GCC. The ongoing economic reforms, such as the UAE's Golden Visa scheme which allows longer residencies for expatriates, are expected to attract more foreign investment and skilled labor to the region, thereby boosting the construction sector even further.

For an in-depth analysis, you can request the sample copy of the market report:

GCC Construction Market Segmentation:

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

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Ask analyst for your customized sample:

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