Middle East Modularization Market Share, Key Players, Top Regions and Forecast by 2028
The Middle East modularization market size is expected to reach $747.1 million by 2028, from $492.1 million in 2020, registering a CAGR of 5.3% from 2021 to 2028
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Fluor Corporation, SHV Holdings N.V. (Mammoet), Arabian International Company for Steel Structures, Larsen & Toubro Limited (L & T Piping Center), ENKA INSAAT VE SANAYI (CIMTAS PIPE FABRICATION AND TRADING CO. LTD.), YENA ENGINEERING B.V., PROSAIC STEEL AND ALLOYS, Metal Forge India, ChelPipe Group, Honeywell International Inc (Honeywell UOP)
The Middle East modularization market also known as prefabrication or offsite construction, involves the manufacturing of building components in a controlled factory environment and assembling them on-site. This approach offers numerous advantages, including faster construction timelines, cost savings, reduced environmental impact, and improved quality control.
Increase in drilling and exploration activities for oil in the Middle East countries such as Qatar, Kuwait, and others is expected to cater to the growth of the market. In addition, rise in use of piping spools, pipe racks, and skids in end users such as petroleum and transport is anticipated to garner the growth of the Middle East modularization market. Factors such as surge in adoption of stainless-steel pipe, owing to its aesthetic look, robust, and long durable features, is anticipated to boost the growth of the Middle East modularization market.
Rapid population growth and urbanization in Middle Eastern cities have created an urgent need for infrastructure and housing solutions. Modular construction can significantly expedite the construction process, helping to meet this demand. Many Middle Eastern countries have set ambitious sustainability goals, aiming to reduce carbon emissions and energy consumption in the construction sector. Modular construction inherently lends itself to sustainable practices, such as reduced waste generation and energy-efficient design.
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Middle Eastern developers and governments are increasingly recognizing the importance of maintaining high-quality construction standards. Modularization allows for precise manufacturing and quality control in a factory setting, reducing the risk of on-site errors. The Middle East has faced challenges related to labor shortages in the construction sector. Modular construction requires fewer on-site laborers and can help alleviate these workforce issues.
A rise in adoption of pipe spools, pipe racks, skids, and other components in various end-user industries such as oil & gas plants, power plants, and the pharmaceutical industry is anticipated to provide lucrative opportunities for the growth of the Middle East modularization market. United Engineering Services LLC, TOCO, and United Gulf Pipe Manufacturing Co. LLC are some of the players engaged in offering products used in modular construction services.
The integration of digital technologies like Building Information Modeling (BIM) and advanced robotics is enhancing efficiency and precision in modular construction. Governments in the Middle East are offering incentives and support for sustainable and modular construction practices, further encouraging market growth. Middle Eastern modular construction firms are eyeing international markets, leveraging their expertise and experience to cater to global demand.
The Middle East Modularization Market is undergoing a transformation driven by the need for sustainable, efficient, and rapid construction solutions. As the region continues to expand and modernize, modular construction will play an increasingly pivotal role in shaping the future of the built environment. With the right investments, innovations, and government support, the Middle East is set to become a hub for modular construction excellence in the years to come.
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