Saudi Arabia Hollow Concrete Blocks Market Size & Outlook
Saudi Arabia hollow concrete blocks market, 2018-2030 (US$B)
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Saudi Arabia hollow concrete blocks market highlights
- The Saudi Arabia hollow concrete blocks market generated a revenue of USD 2.6 billion in 2022 and is expected to reach USD 4.3 billion by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 6.3% 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.
Hollow concrete blocks market data book summary
| Market revenue in 2022 | USD 2.6 billion |
| Market revenue in 2030 | USD 4.3 billion |
| Growth rate | 6.3% (CAGR from 2022 to 2030) |
| Largest segment | Split-faced |
| Fastest growing segment | Split-faced |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 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, Saudi Arabia accounted for 1.1% of the global hollow concrete blocks market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia hollow concrete blocks market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 4.3 billion by 2030.
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Hollow Concrete Blocks Market Scope
Hollow Concrete Blocks Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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 61.54% in 2022. Horizon Databook has segmented the Saudi Arabia hollow concrete blocks market based on split-faced, smooth-faced covering the revenue growth of each sub-segment from 2018 to 2030.
According to International Momentary Funds (IMF), the building & construction sector in Saudi Arabia is expected to register the highest investments as compared to other nation including UAE. An increase in tourism, population growth, and urbanization is the primary driving factor for the growth of the construction sector in the region.
Construction of leisure and residential complexes are expected to gain momentum over the forecast period, owing to the increase in population and tourism. Hence, the growth in building & construction is anticipated to positively impact the demand for hollow concrete blocks over the forecast period.
New taxes and fee regimes, including value-added tax (VAT), extra fees on ex-pats working in the country, and potential taxes imposed on the foreign businesses are expected to bring additional revenues to the economy, thereby contributing to the construction segment via foreign investment.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia hollow concrete blocks market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia hollow concrete blocks market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia hollow concrete blocks market outlook size, by product, 2018-2030 (US$B)
Saudi Arabia Hollow Concrete Blocks Market Outlook Share, 2022 & 2030 (US$B)
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