The growth of industrial manufacturing in MEA is one of the primary factors driving the steel building market growth in the region. The industrial sector is witnessing the highest adoption rate of steel building in the MEA market. Additionally, the industrial buildings are being constructed on the pre-defined timelines and with a limited budget. Therefore, the industrial builders are coming up with the solution of constructing steel buildings instead of constructing concrete buildings. The construction of steel buildings is not only cost-effective but also takes lesser time than the construction of concrete buildings. Consequently, the growth of the industrial sector will drive the steel building market growth in the Middle East and Africa. Our analysts have predicted that the steel building market will register a CAGR of over 6% by 2023.
For the detailed list of factors that will drive and challenge the growth of the steel building market during 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. The revenue in Saudi Arabia is increasing due to the introduction of value-added taxes and levying direct taxes and fees on incomes for its large expatriate population. Such factors attract new vendors toward this market. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.
Al Harbi Trading & Contracting Co. Ltd.