Saudi Arabia Structural Steel Market Overview
According to SPER Market Research, the Saudi Arabia Structural Steel Market is estimated to reach USD XX billion by 2032 with a CAGR of XX%.
A unique kind of steel called structural steel is widely used as a component of building core structures and as a means of reinforcing concrete. The substance must meet standards for composition, dimensional tolerance, and dependability. Structural steel needs to be optimized, powerful, ductile, and support superior machinability in order to be employed in building and construction applications.
The surge in construction spending, which is driven by soaring government investments, improving living standards, and rising disposable income, is fueling the expansion of the structural steel market in Saudi Arabia. The increase in residential and non-residential construction activities, as well as the growing popularity of the product due to its many advantages, such as elasticity, ductility, lightweight design, ease of fabrication, high strength, uniformity, toughness, and recyclability, all contribute to the market's rapid growth. Moreover, growing consumer awareness, fast urbanization and industrialization, and the construction of high-rise developments all have a beneficial effect on the structural steel market in Saudi Arabia. In the upcoming years, technological advancements that boost manufacturing efficiency and the introduction of new products will present profitable prospects to market participants. By consistently supplying the market with high-quality structural steel, a solid network of local steel producers and distributors is encouraging market expansion.
Increased investments in steel plants across Saudi Arabia are projected to be the main market trends that will speed up the production of structural steel and subsequently boost the production volume. The Saudi Arabian structural steel industry is significantly impacted by the construction sector's primary usage of building infrastructure for commercial and residential purposes. It is advantageous to retain structural integrity and reduce the need for prospective repairs because structural steel is often utilized in industrial structures and buildings due to its great strength. Due to its exceptional strength-to-weight ratio and high level of durability, structural steel is also well suited for the construction of substantial bridges that can handle the weight of vehicles. Due to end use, the residential industry dominates a sizeable percentage of the Saudi Arabian structural steel market. This can be ascribed to rising investments in new residential construction projects, which are encouraged by favourable government policies, improving living standards, and the nation's quick urbanization. It is predicted that over the course of the projection period, Saudi Arabia's large-scale infrastructure and real estate development projects will expand the use of durable structural steel. The country's thriving commercial construction industry is also boosting demand for structural steel.
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Impact of COVID-19 on the Saudi Arabia Structural Steel Market
The Structural Steel market in Saudi Arabia has been significantly impacted by the COVID-19 pandemic, as has been the case for many industries globally. The pandemic has affected the industry in several ways, including decreased demand, supply chain disruptions, labor shortages, and government support. Specifically, the pandemic has caused a slowdown in the construction industry, which is a major consumer of structural steel, leading to decreased demand and lower prices. Furthermore, supply chain disruptions have caused delays in the delivery of raw materials, impacting the production of structural steel. Travel and movement restrictions have also led to labor shortages in the construction industry, affecting the manufacturing and installation of structural steel. Despite these challenges, the Saudi Arabian government has implemented various measures to support the industry, including stimulus packages and incentives for construction companies. Although recovery may take time, the Structural Steel market in Saudi Arabia is expected to rebound in the long term as the construction industry recovers and demand for structural steel increases.
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Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product Type, By Usage, By End User
|
| Regions covered | Eastern Region, Northern and Capital Region, Western Region, Others
|
| Companies Covered | Al Ittefaq Steel Products Co’s (ISPC), Alfanar Group, POSCO, Saudi Iron and Steel Company (HADEED), Zamil Structural Steel Co. Ltd.
|
Saudi Arabia Structural Steel Market Segmentation:
1. By Product Type:
- Angles
- Columns
- H-Type Beam
- I-Type Beam
- Others
2. By Usage:
- Direct End-User
- EPC-Contractor
- Others
3. By End User:
- Commercial
- Institutional
- Manufacturing
- Residential
4. By Region:
- Eastern Region
- Northern and Capital Region
- Western Region
- Others
Key Topics Covered in the Report:
- Size of Saudi Arabia Structural Steel Market (FY’2019-FY’2032)
- Overview of Saudi Arabia Structural Steel Market
- Segmentation of Saudi Arabia Structural Steel Market By Product Type (Angles, Columns, H-Type Beam, I-Type Beam, Others)
- Segmentation of Saudi Arabia Structural Steel Market By Usage (Direct End-User, EPC-Contractor, Others)
- Segmentation of Saudi Arabia Structural Steel Market By End User (Commercial, Institutional, Manufacturing, Residential)
- Statistical Snap of Saudi Arabia Structural Steel Market
- Saudi Arabia Structural Steel Market Growth Analysis
- Problems and Challenges in Saudi Arabia Structural Steel Market
- Saudi Arabia Structural Steel Market Competitive Landscape
- Impact of COVID-19 and Demonetization on Saudi Arabia Structural Steel Market
- Details on Recent Investment in Saudi Arabia Structural Steel Market
- Competitive Analysis of Saudi Arabia Structural Steel Market
- Major Players in the Saudi Arabia Structural Steel Market
- SWOT Analysis of Saudi Arabia Structural Steel Market
- Saudi Arabia Structural Steel Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Saudi Arabia Structural Steel Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 Saudi Arabia Structural Steel Manufacturing Base Distribution, Sales Area, Product Type
6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Saudi Arabia Structural Steel Market
7. Saudi Arabia Structural Steel Market, By Product Type, 2019-2032 (USD Million)
7.1 Angles
7.2 Columns
7.3 H-Type Beam
7.4 I-Type Beam
7.5 Others
8. Saudi Arabia Structural Steel Market, By Usage, 2019-2032 (USD Million)
8.1 Direct End-User
8.2 EPC-Contractor
8.3 Others
9. Saudi Arabia Structural Steel Market, By End User, 2019-2032 (USD Million)
9.1 Commercial
9.2 Institutional
9.3 Manufacturing
9.4 Residential
10. Saudi Arabia Structural Steel Market, By Region, 2019-2032 (USD Million)
10.1 Saudi Arabia Structural Steel Size and Market Share by Region (2019-2025)
10.2 Saudi Arabia Structural Steel Size and Market Share by Region (2026-2032)
10.3 Eastern Region
10.4 Northern and Capital Region
10.5 Western Region
10.6 Others
11. Company Profiles
11.1 Al Ittefaq Steel Products Co’s (ISPC)
11.1.1 Company details
11.1.2 Financial outlook
11.1.3 Product summary
11.1.4 Recent developments
11.2 Alfanar Group
11.2.1 Company details
11.2.2 Financial outlook
11.2.3 Product summary
11.2.4 Recent developments
11.3 POSCO
11.3.1 Company details
11.3.2 Financial outlook
11.3.3 Product summary
11.3.4 Recent developments
11.4 Saudi Iron and Steel Company (HADEED)
11.4.1 Company details
11.4.2 Financial outlook
11.4.3 Product summary
11.4.4 Recent developments
11.5 Zamil Structural Steel Co. Ltd.
11.5.1 Company details
11.5.2 Financial outlook
11.5.3 Product summary
11.5.4 Recent developments
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
