Saudi Arabia Precast Concrete Market Size & Outlook
Saudi Arabia precast concrete market, 2018-2030 (US$B)
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Saudi Arabia precast concrete market highlights
- The Saudi Arabia precast concrete market generated a revenue of USD 3.9 billion in 2023 and is expected to reach USD 6.6 billion by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, structural building components was the largest revenue generating product in 2023.
- Structural Building Components is the most lucrative product segment registering the fastest growth during the forecast period.
Precast concrete market data book summary
| Market revenue in 2023 | USD 3.9 billion |
| Market revenue in 2030 | USD 6.6 billion |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Structural building components |
| Fastest growing segment | Structural Building Components |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Structural Building Components, Architectural Building Components, Transportation, Waste & Water Handling Products, Other Products |
| Key market players worldwide | Boral Ltd, Holcim Ltd, Cemex SAB de CV ADR, Larsen & Toubro Ltd DR, Gulf Precast, Olson Precast, Tindall, Laing O'Rourke, Spancrete Corporation, Forterra, Gülermak |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 3.6% of the global precast concrete market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia precast concrete 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 6.6 billion by 2030.
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Precast Concrete Market Scope
Precast Concrete Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia precast concrete 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 precast concrete market will help companies and investors design strategic landscapes.
Structural building components was the largest segment with a revenue share of 38.46% in 2023. Horizon Databook has segmented the Saudi Arabia precast concrete market based on structural building components, architectural building components, transportation, waste & water handling products, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Kingdom of Saudi Arabia has announced a reform program under its Vision 2030. The country is expected to exhibit robust economic growth owing to the implementation of structural reforms. New taxes and fees, including value added tax (VAT), extra fees on expats working in the country, and potential taxes imposed on the foreign businesses is expected to bring additional revenues in the economy.
However, uncertainty regarding future prices of oil and impact of ongoing economic reforms may pose a risk to the projected economic growth in the country. According to International Momentary Funds (IMF), building & construction sector in Saudi Arabia is expected to register highest investments. Increase in tourism, population growth, and urbanization is the primary driving factor for the growth of this sector.
Residential and leisure construction activities 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 propel the demand for precast concrete market over the forecast period
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia precast concrete market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia precast concrete market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia precast concrete market size, by product, 2018-2030 (US$B)
Saudi Arabia Precast Concrete Market Outlook Share, 2023 & 2030 (US$B)
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