LONDON--(BUSINESS WIRE)--The steel building market in MEA is expected to grow by USD 1.39 billion as per Technavio. This marks a significant market slowdown compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 6%.
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Read the 120-page report with TOC on "Steel Building Market in MEA Analysis Report by Product (PEB and HRSS) and End-user (Industrial, Commercial, and Residential), and the Segment Forecasts, 2020-2024".
The market is driven by the advantages of PEBs over traditional buildings. In addition, the growing construction and infrastructure sector is anticipated to boost the growth of the steel building market in MEA.
PEBs are made of high-quality construction steel that can be recycled and reused, which makes them environmentally friendly. They can also be dismantled and relocated to new locations as they are easy to install. Also, PEBs require only welding and finishing or prefabricated components, which reduces overall construction cost by up to 40%. Many such benefits are increasing the preference for PEBs in the construction industry. This is crucial in driving the growth of the steel building market.
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Major Five Steel Building in MEA Companies:
Al Shahin Co. for Metal Industries
Al Shahin Co. for Metal Industries operates its business through segments such as PEB Steel Buildings, Structural Steel, Sandwich Panel, and Towers. The company offers PEBs for industrial, residential, and commercial applications. The company also offers Structural steel, Sandwich panel, and Towers for various applications.
Astra Industrial Group
Astra Industrial Group operates its business through segments such as Pharmaceuticals, Specialty chemical, Power and steel, and Other. The company offers PEBs, Structural steel, and Cladding and building accessories for various applications.
Building System Integration Ltd.
Building System Integration Ltd. operates its business through the Unified segment. The company offers pre-engineered steel buildings including frames, secondary C & Z galvanized members, panels, and panel accessories.
Mabani Steel LLC
Mabani Steel LLC operates its business through segments such as Erection of Steel Buildings and Blast & Paint. The company offers PEBs, HRSS, and Building accessories for various applications.
Salam International Investment Ltd.
Salam International Investment Ltd. operates its business through segments such as Contracting, Energy and Power, Consumer and luxury products, Technology and communication, and Real estate and investments. The company offers steel structures for power plants, tunnels, bridges, and pipeline support.
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Steel Building Market in MEA Product Outlook (Revenue, USD Billion, 2020-2024)
Steel Building Market in MEA End-user Outlook (Revenue, USD Billion, 2020-2024)
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