Saudi Arabia Construction Market Size to Surpass USD 135.6 Billion by 2033 | Exhibiting CAGR of 3.7%

Saudi Arabia Construction Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

Saudi Arabia's construction market is being driven by massive investment in Vision 2030 "giga‐projects" - funded through the Public Investment Fund - fueling an unprecedented pipeline of infrastructure, urban development, and tourism-related builds. According to the latest report by IMARC Group, The Saudi Arabia construction market size was valued at USD 97.8 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 135.6 Billion by 2033, exhibiting a CAGR of 3.7% from 2025-2033.

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Saudi Arabia Construction Market Trends and Drivers:

The Saudi Arabia construction market is changing fast. This shift is fueled by Vision 2030 initiatives and major infrastructure projects. The government aims to diversify the economy, leading to more investments in transportation, renewable energy, and urban development. Mega-projects like NEOM, the Red Sea Project, and Qiddiya are reshaping the landscape. They are creating a demand for advanced construction technologies and sustainable practices. Additionally, programs like Sakani are boosting residential construction by promoting affordable housing. The growth of industrial cities and logistics hubs is enhancing the commercial and industrial sectors. Public-private partnerships (PPPs) are also becoming common to speed up project delivery and ease financial pressure. Despite global economic uncertainties, Saudi Arabia's construction sector stays strong, thanks to government support and a growing population.

Technological adoption and sustainability are key trends in the construction industry. Builders are using smart technologies like Building Information Modeling (BIM) and prefabrication to improve efficiency and cut costs. Green building practices are gaining popularity, aligning with the Kingdom's sustainability goals. There is a focus on energy-efficient designs and renewable materials. The rise of modular construction helps tackle labor shortages and speeds up project timelines, especially in housing and hospitality. Meanwhile, the need for skilled labor and local content is driving investments in workforce development and domestic manufacturing. Challenges like supply chain disruptions and fluctuating material costs remain, but the sector's long-term outlook is positive. Ongoing urbanization and infrastructure modernization efforts support this growth. As Saudi Arabia aims to be a global investment hub, the construction market is ready for continued growth and innovation.

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Saudi Arabia Construction Industry Segmentation:

The report has segmented the market into the following categories:

●Analysis by Sector:
●Residential
●Commercial
●Industrial
●Infrastructure (Transportation)
●Energy and Utilities Construction

●Regional Insights:
●Northern and Central Region
●Western Region
●Eastern Region
●Southern Region

Competitive Landscape:

One of the most prominent trends among key construction players in Saudi Arabia is the adoption of advanced technologies to improve project efficiency, reduce costs, and ensure timely delivery. Many firms are integrating Building Information Modeling (BIM) systems into their operations to streamline design, planning, and construction processes. BIM enhances collaboration between stakeholders and minimizes errors by providing a detailed, digital representation of the project. Similarly, companies are leveraging drones, robotics, and artificial intelligence (AI) to monitor construction sites, conduct inspections, and automate repetitive tasks. These technologies not only improve accuracy but also reduce labor costs and ensure compliance with safety standards. Sustainability is becoming a core focus for construction firms in Saudi Arabia, driven by government regulations and increasing awareness about environmental issues. In 2024, New Murabba, a PIF company received an award from Miniter of Municipalities and Housing Majed Al-Hogail, owing to its contribution as platinum sponsor at the 14th Saudi Green Building forum in Riyadh.

●AFRAS
●AL Jazirah Engineers & Consultants
●Al Latifa Trading and Contracting
●Bechtel Corporation
●Fluor Corporation
●Gilbane Inc.
●Jacobs
●Tekfen Construction

Key highlights of the Report:

●Market Performance (2019-2024)
●Market Outlook (2025-2033)
●COVID-19 Impact on the Market
●Porter's Five Forces Analysis
●Strategic Recommendations
●Historical, Current and Future Market Trends
●Market Drivers and Success Factors
●SWOT Analysis
●Structure of the Market
●Value Chain Analysis
●Comprehensive Mapping of the Competitive Landscape

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Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.