Saudi Arabia Construction Industry Report 2024: Output to grow at an AAGR of 5.1% During 2025-2028, Supported by PPI in Oil and Gas Projects, and Tourism Plans - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q2 2024)" report has been added to ResearchAndMarkets.com's offering.

The construction industry in Saudi Arabia is expected to grow by 4.6% in real terms in 2024, supported by investments in energy, tourism and industrial projects.

As part of the National Investment Strategy (NIS), the government aims to improve the investment climate and increase net foreign direct investment (FDI) flows in line with the government's aim to increase the number of industrial establishments in the Kingdom from 8,800 in 2019 to 36,000 in 2035. According to the Saudi Central Bank (SAMA), the total credit facilities provided to micro, small, and medium enterprises (MSMEs) grew by 18.6% year-on-year (YoY) in 2023, preceded by an annual growth of 13.6% in 2022.

The construction industry is expected to grow at an annual average growth rate of 5.1% between 2025 to 2028, supported by public and private investments in oil and gas projects, and the government's aim to attract 150 million tourists annually, as part of its Vision 2030 plan. According to government estimates, as of June 2024, the country has 255 tourism infrastructure projects worth SAR6.4 trillion ($1.7 trillion).

In May 2024, the state-owned petroleum and natural gas company Saudi Aramco announced its plan to launch 99 projects between 2024 and 2026, aimed at boosting oil and gas output, enhancing treatment capacity, and modernizing facilities. These projects include 58 oil, gas, and petrochemicals projects, 22 pipeline and distribution projects, and 19 civil and marine infrastructure projects.

Some of the specific projects under this initiative include the Marjan field gas lift program, Shaybah dry gas handling, and upgrades to the sulphur recovery units and the Ras Tanura refinery. Some of the largest investments will be made in development of three liquids-to-chemicals (LTC) complexes at Yasref, Samref, and Sasref refineries.

Scope

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Saudi Arabia, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) 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 the analyst'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 the analyst's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context

3.1 Economic Performance

3.2 Political Environment and Policy

3.3 Demographics

3.4 Risk Profile

4 Construction Outlook

4.1 All Construction

• Outlook
• Latest news and developments
• Construction Projects Momentum Index

4.2 Commercial Construction

• Outlook
• Project analytics
• Latest news and developments

4.3 Industrial Construction

• Outlook
• Project analytics
• Latest news and developments

4.4 Infrastructure Construction

• Outlook
• Project analytics
• Latest news and developments

4.5 Energy and Utilities Construction

• Outlook
• Project analytics
• Latest news and developments

4.6 Institutional Construction

• Outlook
• Project analytics
• Latest news and developments

4.7 Residential Construction

• Outlook
• Project analytics
• Latest news and developments

5 Key Industry Participants

5.1 Contractors

5.2 Consultants

6 Construction Market Data

7 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/loofja

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