USD 125.28 billion
GCC Structural Steel Fabrication Market Size, Share, Growth Analysis, By Service(Metal Welding, Metal Forming, Metal Cutting, Metal Shearing), By Application(Construction, Automotive, Manufacturing, Energy & Power), By Region - Industry Forecast 2024-2031
Report ID:
SQMIR15O2028 |
Region:
Regional |
Published Date: February, 2024
Pages:
272
|Tables:
73
|Figures:
75
GCC Structural Steel Fabrication Market Insights
GCC Structural Steel Fabrication Market size was valued at USD 2.32 billion in 2022 and is poised to grow from USD 2.41 billion in 2023 to USD 3.30 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).
Steel Fabrication is the process in which stainless fabricators convert the raw material and steel option into desired shape. This process is of two types: Integrated route process or raw material approach and Electric Arc furnace.In Integrated route or raw material approach the stainless steel is melted, heated, mixed and in the second process recycled steel is melted to get steel as the end product. This stainless steel fabrication is used to manufacture a wide range of goods, parts, and projects, including metal fabrication projects for buildings. The steel possesses qualities such as strong oxidizing temperatures, integrity, and chemical stability. It contributes to maintaining the mechanical characteristics across a wide temperature range, making it a more suitable material for usage in automobile, marine purposes, and aviation. The structural steel fabrication workshops operate on several value-added services under one roof since they entail cutting, welding, shearing, and machining.
The structural steel fabrication industry in the GCC has tremendous potential to expand its market share shortly. In big industrial operations where fabricated steel is required, structural steel is frequently used. After the steel has been blended, assembled, cut, and formed, it must be shaped to the customer's specifications. Most structural steel fabricators use state-of-the-art technologies to stay proficient and monitor the process.
GCC Structural Steel Fabrication Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Construction
Fastest Growth
Construction
Growth Rate
4.1% CAGR
Global GCC Structural Steel Fabrication Market 2022-2028 ($ Bn)
Country Share for Asia-Pacific Region- 2021 (%)
To get more reports on the above market click here to Buy The Report
GCC Structural Steel Fabrication Market Segmental Analysis
GCC Structural Steel Fabrication Market is segmented by Service, Application. Based on Service, the market can be segmented into Metal Welding, Metal Forming, Metal Cutting, Metal Shearing, Metal Stamping, Machining, Metal Rolling, Others. Based on Application, the market can be segmented into Construction, Automotive, Manufacturing, Energy & Power, Electronics, Defence & Aerospace, Others.
GCC Structural Steel Fabrication Market Analysis by Service
In 2021, the machining segment dominated the GCC structural steel fabrication market in terms of service and is likely to remain dominant over the forecast period. The structural steel fabrication market will have more inclusive and sustainable growth to its widely used machining advanced features, quickest increasing trend, comprehensive machinery manufacturing and trying to rebuild services, and focus on providing precision work pieces and weldments to the army, transit, and agriculture sectors.
GCC Structural Steel Fabrication Market Analysis by Application
In 2021, the construction segment dominated the global GCC structural steel fabrication market in terms of application and is likely to remain dominant over the forecast period. Rising disposable income, accelerating global construction, government regulations for better safety and preventative measure, and the increasing significance of environmentally friendly products in various infrastructures have all fueled the growth of structural steel and are assisting in driving up demand in the structural steel fabrication market.
Global GCC Structural Steel Fabrication Market By Application, 2021 (%)
To get detailed analysis on other segments, Request For Free Sample Report
GCC Structural Steel Fabrication Market Regional Insights
GCC countries are expected to grow at enormous CAGR during the forecast period. One major driving factor in the growth is an increase in the proposal of infrastructure projects and steel consumption, as well as an increase in construction activities in the GCC region. For example, Saudi Arabia is expected to have a significant market for structural steel fabrication among GCC countries, followed by the UAE. There has been significant investment in infrastructure development, projects, and waterfront city construction in Kuwait, Qatar, and Bahrain's Diyar Al Muharraq.
Furthermore, growing population in the GCC region has shifted the emphasis to environmentally friendly constructions. The demand for prefabricated buildings is increasing because they are more environmentally friendly and affordable than conventionally constructed buildings, and they also produce no on-site waste. The expansion of the tourism industry as a result of the evolution of infrastructure activities has created a demand for prefabricated buildings in the region, particularly in the UAE and Saudi Arabia.
Global GCC Structural Steel Fabrication Market By Geography, 2022-2028
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
GCC Structural Steel Fabrication Market Dynamics
GCC Structural Steel Fabrication Market Driver
- There is a huge demand for structural steel fabrication on the international market since it is used in the construction of highways and bridges. The installation of beams in residential and commercial buildings requires the usage of structural steel fabrication. On building sites, fabrication methods are also used to lay trusses, angles, plates, and hollow sections. As a result, the growth graph of the worldwide structural steel fabrication market is expected to show an upward trend in the coming years.
- For the past two decades, the structural steel fabrication market has seen investments in the usage of 3D model-driven technology to speed fabrication increase quality, and decrease waste. Steel is now being used in extremely cost-effective, BIM-enabled (Building Information Modeling) ways that are scalable to meet client demand.
GCC Structural Steel Fabrication Market Restraint
- The market's expansion is expected to be hindered by a lack of knowledge about the benefits of this structural steel in the construction sectors. The structural steel market is expected to have difficulties throughout the forecast period due to a shortage of technological know-how.
- The primary issue limiting the growth of the structural steel industry is the fluctuating cost of raw materials. As a result, the market value of structural steel decreases. The costly flame retardant coating needed for structural steel makes it vulnerable to corrosion in outdoor settings.
Request Free Customization of this report to help us to meet your business objectives.
GCC Structural Steel Fabrication Market Competitive Landscape
The top players in the GCC structural steel fabrication market are responsible for the demand of the market. The market is dominated by small and medium-sized firms, making it highly competitive and fragmented. As a result, the companies in the region struggle fiercely for a limited market share. For instance, a new structural steel fabrication facility has been established in Uttar Pradesh, India, by Salasar Techno Engineering, a steel fabrication firm with headquarters in India. High-precision robotic multi-torch CNC plasma cutting machinery is present at Salasar's new facility. For power plants, metro stations, bridges, PEB buildings, warehouses, airport hangars, high-rise structures, and process plants, the factory will create heavy structural steel.
GCC Structural Steel Fabrication Market Top Player’s Company Profiles
- Emirates Steel
- ArcelorMittal
- Saudi Iron and Steel Company (Hadeed)
- Qatar Steel
- Al Yamamah Steel Industries Co.
- Conares
- Gulf Steel Works
- Hamriyah Steel
- RAK Steel
- Al Shahin Metal Industries
- Tiger Steel Engineering LLC
- Gulf Steel Industries Co. Ltd.
- Saudi Arabia Steel Industries Co. Ltd. (SABIC)
- Al Ashrak Group
- Qatar Technical Steel Fabrication & Engineering
- Al Khaleej Steel Industries LLC
- NAdiA Steel Construction and Contracting LLC
- Muscat Steel Industries Co. LLC
- Kuwait Steel
- National Steel Co.
GCC Structural Steel Fabrication Market Recent Development
- In March 2022 Ryerson (NYSE:RYI) announced it acquired Apogee Steel Fabrication . The Mississauga, Ontario-based sheet metal fabricator serves customers in Canada and the U.S. Apogee provides complex fabrication assemblies in stainless steel, aluminum, and carbon sheet, said Ryerson in the transaction announcement.
-
In September 2022, Indian steel giant Tata steel announced the merger of listed and unlisted companies mainly to derive business synergies and also to reduce and simplify the Tata Group's steel business structure. The merging seven companies are: 1. Tata Steel Long Products (NS:TTST) Limited, A2. The Tinplate Company of India (NS:TINP) Limited, 3. Tata Metaliks (NS:TMET) Limited, 4. TRF Limited, 5. The Indian Steel & Wire Products Limited, 6. Tata Steel Mining Limited and 7. S & T Mining Company Limited.
- In February 2022, according to Moody's, Tata Steel's acquisition of NINL will increase long-steel production. TSL anticipates using a combination of internal accruals and loans to pay for the transaction. Even so, TSL's financial metrics have enough room for the proposed acquisition even with a rating downgrade leverage level.
GCC Structural Steel Fabrication Key Market Trends
- The bulk of prefabricated buildings in the GCC region are steel structures. Prefabricated structures are more popular due to their affordability, environmental friendliness, and lack of on-site trash generation. This is due to the focus on environmentally responsible construction as well as the growing population in the GCC region. The need for prefabricated buildings has expanded in the region, especially in the UAE and Saudi Arabia, as a result of the expansion of infrastructure activities and growing tourism activities in the area.
-
The rise in the construction and remodelling are the result of increasing population in GCC countries. Along with that, these countries have seen the major trend of diversification of economy to reduce the dependence on oil and gas by shifting focus on other markets such as tourism.
GCC Structural Steel Fabrication Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, in terms of service, the machining sector ruled the global GCC structural steel fabrication market in 2021 and is expected to hold that position throughout the forecast period. In terms of application, the construction sector dominated the global GCC structural steel fabrication market in 2021 and is expected to hold this position throughout the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.32 billion |
| Market size value in 2031 | USD 3.30 billion |
| Growth Rate | 4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on GCC Structural Steel Fabrication Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on GCC Structural Steel Fabrication Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the GCC Structural Steel Fabrication Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the GCC Structural Steel Fabrication Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the GCC Structural Steel Fabrication Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the GCC Structural Steel Fabrication Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
