Report ID: SQMIG15F2194
Report ID:
SQMIG15F2194 |
Region:
Global |
Published Date: November, 2024
Pages:
173
|
Tables:
94 |
Figures:
71
Asia-Pacific held the largest concrete market share. This region is home to some of the biggest economies in the world, including China, India, and Japan. This region has proven to be an undisputed leader in building infrastructure and activities. China has been leading the curve in building on a global scale for decades, with massive expenses in infrastructural, commercial, and residential projects led by government initiative and increasing urbanization. The requirement for residential and non-residential development is increasing in India due to the growing middle class and population. In case of large-scale urbanization, industrialization, and infrastructure development of the region, especially in developing markets, significantly benefits the area. The region is contributing a great deal to the production of buildings in the world.
However, the Middle East & Africa is now experiencing its fastest growth ever in the concrete sector. The three major growth drivers involve large-scale urban development initiatives, large-scale infrastructure investments, and initiatives by oil-dependent economies in diversification. Some of the real estate investments, infrastructure investments, tourism investment, and smart city investments are the priorities undergoing by Saudi Arabia, UAE, Qatar, Egypt, and other nations. Included in the region are mega-projects such as Saudi Arabia's Vision 2030, heading toward futuristic cities such as Neom, or huge infrastructure upgrades related to the FIFA World Cup 2022 in Qatar and the World Expo 2020 in Dubai. Due to such large-scale projects, the expanding cities, and the necessity of diversifying from reliance on oil resources, the MEA has now become the world's fastest-growing sector.
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Report ID: SQMIG15F2194