Saudi Arabia and GCC modular construction market is expected to reach USD 4,674,603.87 thousand by 2031 from USD 3,381,154.62 thousand in 2023, growing with a substantial CAGR of 4.3% in the forecast period of 2024 to 2031.
Market Segmentation
Saudi Arabia and GCC. Modular construction Market, By Type (Permanent and Relocatable), Material (Wood, Steel, Concrete, Plastic, Glass and Others) End-User (Residential, Commercial, and Industrial), Country (Saudi Arabia and GCC) - Industry Trends and Forecast to 2031.
Overview of Saudi Arabia and GCC Modular Construction Market Dynamics
- Drivers
- Ability to complete projects faster compared to traditional on-site buildings
- Growing emphasis on sustainability, quality, and workers' safety
- Restraints
- Lack of reliability on modular construction in earthquake-prone regions
- Fluctuating transportation costs for prefabricated modules
- Opportunities
- Increased support from government's rules and policies
- Renewed focus on upgrading healthcare infrastructure
Market Players
Some of the major market player operating in the Saudi Arabia and GCC modular construction market are:
- Bechtel Corporation
- Fluor Corporation
- LAING O'ROURKE
- Red Sea International
- BK Gulf LLC (a Subsidiary of Dutco Group of Companies)
- SPACEMAKER KSA
- DUBOX
- Arabian Containers LLC
- Karmod Prefabricated Technologies.
- KOMA MODULAR
- Gulf Modular International