ÌÇÐÄvlog´«Ã½

Saudi Arabia Prefabricated Buildings Market Analysis

The Saudi Arabia Prefabricated Buildings Market size is estimated at USD 3.36 billion in 2024, and is expected to reach USD 5.16 billion by 2029, growing at a CAGR of 8% during the forecast period (2024-2029).

The rise in the overall construction industry and increasing prices contribute to the turnover of the prefabricated buildings market in Saudi Arabia.

The market is driven by the demand for low to mid-rise residential buildings, project homes, and public housing. Additionally, the high demand for turnkey or prefabricated houses and energy-efficient buildings contributes to market growth.

The residential construction industry in Saudi Arabia is facing a shortage of affordable housing due to a growing population and an influx of migrants. It has increased the demand for prefabricated homes, as they are cost-effective and time-efficient. Moreover, energy efficiency, design flexibility, and faster completion are other advantages of prefabricated buildings, anticipated to drive market growth.

The pandemic caused considerable economic damage. The nationwide lockdown halted construction and impacted the labor-intensive sector. As a result, construction projects in various segments, such as educational, residential, and airports, decreased, significantly impacting the demand for prefabricated buildings in Saudi Arabia. It also affected the market due to slow raw material production, supply chain disruption, inhibited trade movements, declining construction demand, and reduced demand for new projects.

However, the demand for modular buildings increased due to the increased cases during the pandemic and the requirement for healthcare and quarantine buildings/units. Since a high workforce was required for traditional construction, opting for prefabricated buildings became an optimum solution during the pandemic.

The Saudi Arabian government's focus on infrastructure development and initiatives such as Vision 2030, which aims to diversify the economy and promote sustainability, are fueling the adoption of prefabricated construction methods. These methods align with the goals of minimizing waste, conserving resources, and reducing carbon emissions.

Saudi Arabia Prefabricated Buildings Industry Segmentation

Prefabricated buildings, often referred to as prefab homes, are primarily manufactured in advance off-site, then delivered and assembled on-site. This report covers market insights, such as market dynamics, drivers, restraints, opportunities, technological innovations and their impact, Porter's five forces analysis, and the impact of COVID-19. Additionally, the report provides company profiles of leading market players to help understand the competitive landscape.

The Saudi Arabian prefabricated buildings market is segmented by application (residential, commercial, and other applications (industrial, institutional, and infrastructure)) and material type (concrete, glass, metal, timber, and other material types). The report offers market sizes and forecasts in value terms (USD) for all the above segments.