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Saudi Arabia Precast Concrete Market Size and Forecasts (2020 - 2030), Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Structure System (Beam & Column System, Floor & Roof System, Bearing Wall System, Facade System, Structure System, and Others) and End Use (Residential, Commercial, and Others)
Market Report I 2023-10-03 I 77 Pages I The Insight Partners
The Saudi Arabia precast concrete market is expected to grow from US$ 1.02 billion in 2022 to US$ 1.87 billion by 2030; it is expected to grow at a CAGR of 7.9% from 2022 to 2030.
Precast concrete is a construction material manufactured by casting concrete in a moldable or reusable framework, following which it is then cured in a controlled environment. Such materials are precast, prefabricated at manufacturing, assembled, and molded at the construction site. These structures enhance the construction speed, improve productivity, and help monitor quality and cost significantly. With the growing demand for cost-effective and safe materials, the demand for precast concrete is expected to rise. Further, such structures are categorized as sustainable building materials, which can significantly be reused or remolded, reducing their environmental impact. The growing adoption of green and modular construction materials is expected to increase the Saudi Arabia precast concrete market growth. Hence, owing to the abovementioned factors, a broad scope of applicability in residential and commercial structure systems is expected to dominate the Saudi Arabia precast concrete market from 2022 to 2030.
Precast concrete is widely utilized in housing, factories, and leading national laboratories worldwide. Precast construction is a cost-effective, fast, and environmentally friendly building method for large housing projects that do not compromise quality. In February 2021, the government of Saudi Arabia announced a new regional headquarters policy that requires foreign investors to set up their regional headquarters in the country by the end of 2023 to participate in public tenders. Establishing a regional headquarters will likely attract expatriates and foreign workers to Saudi Arabia. As these professionals relocate to the country, there will be an increased demand for housing in rental properties and real estate purchases. This surge in demand could stimulate the housing market. Hence, the government of Saudi Arabia has taken various steps to overcome these issues by investing in infrastructure development. Further, the regional and central authorities in the country are equally involved in facilitating the use of precast in their construction projects. Such government support is expected to drive the Saudi Arabia precast concrete market growth.
Precast concrete is extensively used in the construction of sports facilities worldwide. Precast sport-specialized components allow general contractors and architects the flexibility to achieve innovative and complex designs with maximized seating. The acoustic performance of the precast structures in schools and colleges enhances noise insulation. The high thermal mass of precast concrete means massive conservation of energy in terms of heating and ventilation. Due to the rising investment in commercial construction projects, the commercial sector's high demand for precast concrete is anticipated to drive Saudi Arabia precast concrete market growth. In addition, automotive, chemical, oil & gas, water treatment, transportation, and other industries are among the major end users of precast concrete products. Industrial warehouses can be built by using turnkey precast construction or by combining precast concrete products as walls and slabs with a steel frame for a lighter building. Structural and aesthetic versatility, resiliency, expedited construction, and high quality of precast concrete make it ideal for bridges and other transportation structures. In recent times, pretensioned, prestressed beams are the most common precast elements utilized in the construction of bridges. Precast, prestressed concrete beams are used extensively for highway bridges. Furthermore, precast concrete is gaining interest in railway track systems for plain track, switches and crossings, tunnels, and other applications. It is considered the most preferred material for railway sleepers due to factors such as long-term durability, enhanced elasticity of track, low maintenance cost, and environmental friendliness. All these factors are driving Saudi Arabia precast concrete market growth.
A few key players operating in the Saudi Arabia precast concrete market are CEMEX, S.A.B. de C.V.; Holcim Ltd.; Kifah Precast; Prainsa; Zamil Industrial; RNZ (Rabiah-Nassar & Zamil Concrete Industries); Bina Precast; Red Sea International Company; Spacemaker KSA; and Gulf Precastare. Players operating in the Saudi Arabia precast concrete market are highly focused on developing high-quality and innovative product offerings to fulfill customers' requirements.
The overall Saudi Arabia precast concrete market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Saudi Arabia precast concrete market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants, such as valuation experts, research analysts, and key opinion leaders-specializing in the Saudi Arabia precast concrete market.
TABLE OF CONTENTS
1. Introduction 9
1.1 The Insight Partners Research Report Guidance. 9
1.2 Market Segmentation. 10
2. Executive Summary 11
2.1 Key Insights. 11
3. Research Methodology 12
3.1 Coverage. 13
3.2 Secondary Research. 14
3.3 Primary Research. 14
4. Saudi Arabia Precast Concrete Market Landscape 15
4.1 Overview. 15
4.2 PEST Analysis. 15
4.3 Ecosystem Analysis. 16
4.3.1 Overview: 16
4.3.2 Raw Material Suppliers: 16
4.3.3 Manufacturers. 17
4.3.4 Buyers. 17
4.3.5 End-Use. 18
4.3.6 List of Vendors in the Value Chain. 18
5. Saudi Arabia Precast Concrete Market - Key Market Dynamics 21
5.1 Market Drivers. 21
5.1.1 Need for Cost-Effective, Safe, and Eco-Friendly Products. 21
5.1.2 Rise in Renovation and Remodeling Activities in Saudi Arabia. 22
5.2 Market Restraints. 22
5.2.1 Volatility in Raw Material Prices. 22
5.3 Market Opportunities. 22
5.3.1 Supportive Government Initiatives. 22
5.4 Future Trends. 23
5.4.1 Rise in Innovation and Product Development 23
5.5 Impact Analysis. 24
6. Saudi Arabia Precast Concrete Market - Saudi Arabia Market Analysis 25
6.1 Saudi Arabia Precast Concrete Market Volume (Million Cubic Meters) 25
6.2 Saudi Arabia Precast Concrete Market Revenue (US$ Million) 26
6.3 Saudi Arabia Precast Concrete Market Forecast and Analysis. 26
7. Saudi Arabia Precast Concrete Market Analysis - Structure System 27
7.1 Beam and Column System.. 28
7.1.1 Overview. 28
7.1.2 Beam and Column System Market Revenue and Forecast to 2030 (US$ Million) 28
7.2 Floor and Roof System.. 29
7.2.1 Overview. 29
7.2.2 Floor and Roof System Market Revenue and Forecast to 2030 (US$ Million) 29
7.3 Bearing Wall System.. 30
7.3.1 Overview. 30
7.3.2 Bearing Wall System Market Revenue and Forecast to 2030 (US$ Million) 30
7.4 Facade System.. 31
7.4.1 Overview. 31
7.4.2 Facade System Market Revenue and Forecast to 2030 (US$ Million) 31
7.5 Others. 32
7.5.1 Overview. 32
7.5.2 Structure System Others Market Revenue and Forecast to 2030 (US$ Million) 32
8. Saudi Arabia Precast Concrete Market Analysis - End Use 33
8.1 Residential 34
8.1.1 Overview. 34
8.1.2 Residential Market Volume, Revenue and Forecast to 2030 (Million Cubic Meters) (US$ Million) 34
8.2 Commercial 35
8.2.1 Overview. 35
8.2.2 Commercial Market Volume, Revenue and Forecast to 2030 (Million Cubic Meters) (US$ Million) 36
8.3 Others. 37
8.3.1 Overview. 37
8.3.2 Others Market Volume, Revenue and Forecast to 2030 (Million Cubic Meters) (US$ Million) 37
9. Impact of COVID-19 Pandemic on Saudi Arabia Precast Concrete Market 39
9.1 Pre & Post Covid-19 Impact 39
10. Industry Landscape 40
10.1 Overview. 40
10.2 Expansion. 40
10.3 New Product Development 40
10.4 Merger and Acquisition. 40
10.5 Partnerships. 41
10.6 Other Business Strategies. 41
11. Competitive Landscape 42
11.1 Heat Map Analysis By Key Players. 42
11.2 Company Positioning & Concentration. 43
11.3 Company Market Share, 2022 (US$) 43
12. Company Profiles 44
12.1 Cemex SAB de CV manufacturer 44
12.1.1 Key Facts. 44
12.1.2 Business Description. 44
12.1.3 Products and Services. 44
12.1.4 Financial Overview. 45
12.1.5 SWOT Analysis. 46
12.1.6 Key Developments. 46
12.2 Holcim Ltd. 47
12.2.1 Key Facts. 47
12.2.2 Business Description. 47
12.2.3 Products and Services. 47
12.2.4 Financial Overview. 48
12.2.5 SWOT Analysis. 49
12.2.6 Key Developments. 49
12.3 AlKifah Precast Co. 51
12.3.1 Key Facts. 51
12.3.2 Business Description. 51
12.3.3 Products and Services. 51
12.3.4 Financial Overview. 52
12.3.5 SWOT Analysis. 52
12.3.6 Key Developments. 52
12.4 Prainsa Saudi Arabia Precast Concrete Co. 53
12.4.1 Key Facts. 53
12.4.2 Business Description. 53
12.4.3 Products and Services. 53
12.4.4 Financial Overview. 53
12.4.5 SWOT Analysis. 54
12.4.6 Key Developments. 54
12.5 Zamil Industrial Investment Co. 55
12.5.1 Key Facts. 55
12.5.2 Business Description. 55
12.5.3 Products and Services. 55
12.5.4 Financial Overview. 56
12.5.5 SWOT Analysis. 57
12.5.6 Key Developments. 57
12.6 Rabiah-Nassar & Zamil Concrete Industries Co Ltd. 58
12.6.1 Key Facts. 58
12.6.2 Business Description. 58
12.6.3 Products and Services. 58
12.6.4 Financial Overview. 58
12.6.5 SWOT Analysis. 59
12.6.6 Key Developments. 59
12.7 Bina Precast Co. 60
12.7.1 Key Facts. 60
12.7.2 Business Description. 60
12.7.3 Products and Services. 60
12.7.4 Financial Overview. 60
12.7.5 SWOT Analysis. 61
12.7.6 Key Developments. 61
12.8 Red Sea International Co. 62
12.8.1 Key Facts. 62
12.8.2 Business Description. 62
12.8.3 Products and Services. 62
12.8.4 Financial Overview. 63
12.8.5 SWOT Analysis. 64
12.8.6 Key Developments. 64
12.9 Spacemaker Saudi Arabia LLC. 65
12.9.1 Key Facts. 65
12.9.2 Business Description. 65
12.9.3 Products and Services. 65
12.9.4 Financial Overview. 65
12.9.5 SWOT Analysis. 66
12.9.6 Key Developments. 66
12.10 Gulf Precast Concrete Co LLC. 67
12.10.1 Key Facts. 67
12.10.2 Business Description. 67
12.10.3 Products and Services. 67
12.10.4 Financial Overview. 67
12.10.5 SWOT Analysis. 68
12.10.6 Key Developments. 68
13. Appendix 69
LIST OF TABLES
Table 1. Saudi Arabia Precast Concrete Market Segmentation. 10
Table 2. List of Raw Material Suppliers in Value Chain: 18
Table 3. List of Manufacturers in Value Chain: 19
Table 4. Saudi Arabia Precast Concrete Market Volume and Forecasts To 2030 (Million Cubic Meters) 25
Table 5. Saudi Arabia Precast Concrete Market Revenue and Forecasts To 2030 (US$ Million) 26
Table 6. Saudi Arabia Precast Concrete Market Revenue and Forecasts To 2030 (US$ Million) - Structure System.. 27
Table 7. Saudi Arabia Precast Concrete Market Volume and Forecasts To 2030 (Million Cubic Meters) - End Use. 33
Table 8. Saudi Arabia Precast Concrete Market Revenue and Forecasts To 2030 (US$ Million) - End Use. 34
Table 9. Company Positioning & Concentration. 42
LIST OF FIGURES
Figure 1. Saudi Arabia Precast Concrete Market Segmentation, By Geography. 10
Figure 2. Saudi Arabia Precast Concrete Market - PEST Analysis. 15
Figure 3. Ecosystem: Precast Concrete Market 16
Figure 4. Market Dynamics: Saudi Arabia Precast Concrete Market 21
Figure 5. Saudi Arabia Precast Concrete Market Impact Analysis of Drivers and Restraints. 24
Figure 6. Saudi Arabia Precast Concrete Market Volume (Million Cubic Meters), 2020 - 2030. 25
Figure 7. Saudi Arabia Precast Concrete Market Revenue (US$ Million), 2020 - 2030. 26
Figure 8. Saudi Arabia Precast Concrete Market Share (%) - Structure System, 2022 and 2030. 27
Figure 9. Beam and Column System Market Revenue and Forecasts To 2030 (US$ Million) 28
Figure 10. Floor and Roof System Market Revenue and Forecasts To 2030 (US$ Million) 29
Figure 11. Bearing Wall System Market Revenue and Forecasts To 2030 (US$ Million) 30
Figure 12. Facade System Market Revenue and Forecasts To 2030 (US$ Million) 31
Figure 13. Structure System Others Market Revenue and Forecasts To 2030 (US$ Million) 32
Figure 14. Precast Concrete Market Share (%) - End Use, 2022 and 2030. 33
Figure 15. Residential Market Volume and Forecasts To 2030 (Million Cubic Meters) 34
Figure 16. Residential Market Revenue and Forecasts To 2030 (US$ Million) 35
Figure 17. Commercial Market Volume and Forecasts To 2030 (Million Cubic Meters) 36
Figure 18. Commercial Market Revenue and Forecasts To 2030 (US$ Million) 36
Figure 19. Others Market Volume and Forecasts To 2030 (Million Cubic Meters) 37
Figure 20. Others Market Revenue and Forecasts To 2030 (US$ Million) 38
Figure 21. Heat Map Analysis By Key Players. 43
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