GCC Construction Market Overview

Base Year: 2023

Historical Years: 2018–2023

Forecast Years: 2024–2032

Market Growth Rate: 5.1% (2024–2032)

The GCC construction market is expanding due to large-scale infrastructure projects, rising demand for residential and commercial properties, and government-driven urban development initiatives. GCC construction market size reached US$ 140 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 219 Billion by 2032, exhibiting a growth rate (CAGR) of 5.1% during ​2024-2032​.

GCC Construction Industry Trends and Drivers:

GCC construction market is experiencing robust growth, driven by ambitious infrastructure projects and economic diversification efforts across the region. Countries within the Gulf Cooperation Council (GCC) are investing heavily in construction to support their Vision 2030 initiatives, aiming to reduce reliance on oil and develop sustainable economies. Mega projects, including smart cities, transportation networks, and tourism facilities, are reshaping urban landscapes and attracting international investments. Additionally, advancements in construction technologies, such as modular construction and green building practices, are enhancing efficiency and sustainability within the sector.

Challenges in GCC construction market include fluctuating material costs and labor shortages. Volatility in global commodity prices can impact construction budgets, leading to project delays and cost overruns. Furthermore, competition for skilled labor is intensifying as the region's construction boom continues, making it essential for companies to attract and retain talent. To navigate these challenges, stakeholders are focusing on strategic partnerships and investing in workforce development programs to enhance skills and capabilities. Emphasizing innovation and sustainability will also be crucial for maintaining competitiveness and ensuring the long-term success of the GCC construction market.

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GCC Construction Industry Segmentation:

The report has segmented the market into the following categories:

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

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.

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