Saudi Arabia Structural Steel Market Size & Outlook
Saudi Arabia structural steel market, 2018-2030 (US$M)
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Saudi Arabia structural steel market highlights
- The Saudi Arabia structural steel market generated a revenue of USD 782.9 million in 2022 and is expected to reach USD 875.0 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 1.4% from 2023 to 2030.
- In terms of segment, non-residential was the largest revenue generating application in 2022.
- Non-residential is the most lucrative application segment registering the fastest growth during the forecast period.
Structural steel market data book summary
| Market revenue in 2022 | USD 782.9 million |
| Market revenue in 2030 | USD 875.0 million |
| Growth rate | 1.4% (CAGR from 2022 to 2030) |
| Largest segment | Non-residential |
| Fastest growing segment | Non-residential |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Non-residential |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Gerdau SA ADR, Nippon Steel Corp, Tata Steel Ltd GDR - 144A, Steel Authority Of India Ltd DR |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 0.6% of the global structural steel market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Iran structural steel market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 430.3 million by 2030.
Non-residential was the largest segment with a revenue share of 53.75% in 2022. Horizon Databook has segmented the Saudi Arabia structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
As per the World Bank, the GDP of the country grew by over 2.2% in 2019 compared to previous year. Construction cost inflation is expected to remain moderate and residential prices are also likely to remain nominal.
Saudi Arabia has shifted its focus from oil production and is expected to reduce the reliance on oil & gas industry. Construction industry in the country is likely to be driven by investment programs such as the Saudi Vision 2030 program.
Under which the government aims to develop the country’s health, education, and infrastructure including housing, rail, airport, and other related infrastructure. This is anticipated to indirectly have a positive influence on the growth of structural steel market.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia structural steel market size, by application, 2018-2030 (US$M)
Saudi Arabia Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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