A recent report was published on the size of the structural steel and prefabricated buildings market in the GCC countries, in which it indicated that the size of the prefabricated buildings and structural steel market in the GCC countries would reach USD 3.8 billion in 2021.

The structural steel and prefabricated buildings market is expected to reach USD 5.4 billion by 2027, at a compound annual growth rate of 6.03% over the period 2021-2027.

It was indicated in the report that the size of the increase was due to several factors, including:

– The increasing population in the GCC countries has led to an increase in the construction and reconstruction activities of residential and commercial buildings, and this is one of the main factors that positively affects the market.

– Increased investments in mega infrastructure projects, including the construction of roads, railways and airports, provide lucrative growth opportunities for manufacturers.

– The increasing focus of the GCC countries on economic diversification to reduce dependence on the oil and gas sector creates a positive outlook for the market.

–  The surge in the travel and tourism sector, coupled with the various upcoming events in the region, is increasing the demand for convenient and cost-effective construction solutions.

– Introduction of strict government regulations across the region to improve waste management and energy saving drives the market growth.

– Moreover, prefabricated buildings do not generate any waste on-site and are more environmentally friendly than traditional buildings.