Middle East & Africa Hollow Concrete Blocks Market Size & Outlook
Middle East & Africa hollow concrete blocks market, 2018-2030 (US$B)
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MEA hollow concrete blocks market highlights
- The MEA hollow concrete blocks market generated a revenue of USD 12.0 billion in 2022.
- The market is expected to grow at a CAGR of 4.1% from 2023 to 2030.
- In terms of segment, split-faced was the largest revenue generating product in 2022.
- Split-faced is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2023 to 2030.
MEA data book summary
| Market revenue in 2022 | USD 12.0 billion |
| Market revenue in 2030 | USD 16.6 billion |
| Growth rate | 4.1% (CAGR from 2022 to 2030) |
| Largest segment | Split-faced |
| Fastest growing segment | Split-faced |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Split-faced, Smooth-faced |
| Key market players worldwide | Berkshire Hathaway Inc Class A, Cemex SAB de CV ADR, CRH PLC, BGC Group Inc Ordinary Shares Class A, Taylor Devices Inc, UltraTech Cement Ltd DR |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.9% of the global hollow concrete blocks market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 9.1 billion by 2030.
Key Regions: UAE , U.S. , UK , Brazil , Saudi Arabia
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Hollow Concrete Blocks Market Scope
Hollow Concrete Blocks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa hollow concrete blocks market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hollow concrete blocks market will help companies and investors design strategic landscapes.
Split-faced was the largest segment with a revenue share of 63.33% in 2022. Horizon Databook has segmented the Middle East & Africa hollow concrete blocks market based on split-faced, smooth-faced covering the revenue growth of each sub-segment from 2018 to 2030.
The use of advanced technologies for construction in the region is expected to benefit the hollow concrete blocks market growth. The construction industry in the region is likely to register higher market revenue through development of industrial buildings, commercial complexes, and residences.
The development of the residential construction sector in the region is expected to account for an increased demand for both split-faced and smooth-faced hollow concrete blocks over the forecast period. In addition, several megaprojects in various cities including Al Ula, Qiddiya, and Neom are further expected to bolster the demand for hollow concrete blocks in the region in the near future.
The construction of Palm Islands, Dubai, United Arab Emirates, has boosted the tourist footfall in the region. The regional government is taking steps to make the Middle East region an infrastructural marvel. The ongoing construction of the World Islands and the Formula 1 racing track in the region has bolstered the demand for building materials in non-residential applications.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa hollow concrete blocks market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa hollow concrete blocks market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA hollow concrete blocks market outlook size, by country, 2018-2030 (US$B)
Middle East & Africa Hollow Concrete Blocks Market Outlook Share, 2022 & 2030 (US$B)
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