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GCC Structural Steel Fabrication Market Analysis

The GCC Structural Steel Fabrication Market is expected to register a CAGR of greater than 4% during the forecast period.

• With Saudi Arabia leading the way, followed by the United Arab Emirates, the market for structural steel production in the Gulf Cooperation Council is expected to grow strongly. Significant investments in infrastructure development, construction projects, and the development of waterfront cities have contributed to this growth. Moreover, the growing population of the Gulf Cooperation Council region has led to an increased focus on green building practices.
• Over the years, several factors have contributed to the growth of the Gulf Cooperation Council's iron and steel market, including increased infrastructure development, an increase in population, and urbanization.
• Annual demand for flat and long steel in GCC countries is expected to reach 38 million tonnes by 2030. There has been a significant increase in population and urbanization in GCC countries. The demand for structural steel is driven by a growing population and urbanization, which has increased housing demand.
• In the United Arab Emirates, the demand for structural steel has seen substantial growth, particularly in the realms of residential housing, commercial establishments, and infrastructure development projects. The use of structural steel enables rapid construction, a crucial factor in meeting the country’s accelerated urbanization and infrastructure needs.
• Supported by the country’s strong development agenda, including the Projects of the 50 initiative and a subsequent focus on industrial, transportation, and energy infrastructure with the aim of attracting nearly USD 150 billion in foreign direct investment by 2030, the UAE construction sector is expected to thrive at an encouraging pace.

GCC Structural Steel Fabrication Industry Segmentation

Steel fabrication is a process in which stainless fabricators convert the raw material and steel into the desired shape. This process has two types: integrated route process or raw material approach and electric arc furnace.

A complete background analysis of the GCC structural steel fabrication market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The GCC structural steel fabrication market is segmented by product type (heavy sectional steel, light sectional steel, and other product types), end-user industry (manufacturing, power and energy, construction, oil and gas, and other end-user industries), and country (Saudi Arabia, the United Arab Emirates, Qatar and the Rest of GCC). The report offers market size and forecasts for the GCC structural steel fabrication market in value (USD) for all the above segments.