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

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).

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. '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.'

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.

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.

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.