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Gcc Structural Steel Fabrication Market
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Gcc Structural Steel Fabrication Market

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GCC Structural Steel Fabrication Market, By Fabrication Process (Metal Welding, Metal Forming, Metal Cutting, Metal Shearing, Metal Stamping, Metal Rolling); By Application (Construction, Automotive, Manufacturing, Energy & Power, Defense & Aerospace); By Region (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: February 2024
  • Report ID: BWC24137
  • Available Format: PDF
  • Page: 200

Report Overview

Growing construction projects, spurring demand in metal 3D printing, and increasing use of steel fabrication in the energy sector are pivotal factors propelling the growth of the GCC Structural Steel Fabrication Market during the forecast period between 2024 and 2030.

GCC Structural Steel Fabrication Market – Industry Trends & Forecast Report, 2030

GCC Structural Steel Fabrication Market size was estimated at USD 8.2 billion in 2023. During the forecast period between 2024 and 2029, the size of GCC Structural Steel Fabrication Market is projected to grow at a CAGR of 6.53% reaching a value of USD 12.77 billion by 2030. The GCC Structural Steel Fabrication Market is primarily driven by robust infrastructure development initiatives, accelerated urbanization, and increasing construction activities in the Gulf Cooperation Council (GCC) region. A growing demand for commercial and residential spaces, coupled with government investments in major construction projects, propels the market. Additionally, the expansion of oil and gas industries further boosts demand for structural steel fabrication. Technological advancements, enhanced efficiency, and sustainable construction practices contribute to the market's growth. Rising awareness of the benefits of structural steel, such as durability and cost-effectiveness, also stimulates market expansion in the GCC region.

GCC Structural Steel Fabrication Market

Structural Steel Fabrication – Overview

Structural steel fabrication involves the creation of steel structures, such as beams and frames, through a systematic process that includes cutting, bending, and assembling steel components. The method ensures precision and durability in construction projects. Key steps include design interpretation, material selection, cutting and shaping, welding, and quality checks. Employing advanced technology and skilled labor, structural steel fabrication plays a crucial role in various industries, providing robust frameworks for buildings, bridges, and other infrastructure. Efficient fabrication processes contribute to cost-effectiveness and timely project completion, making it a cornerstone in modern construction practices.

GCC Structural Steel Fabrication Market

Growth Drivers

Booming Construction and Remodeling Projects

In the realm of structural steel fabrication, the burgeoning wave of construction and remodeling projects is propelling unprecedented growth. As urban landscapes evolve and infrastructural development accelerates, the demand for robust steel structures has skyrocketed. The surge is attributed to the industry's pivotal role in crafting durable frameworks for modern architectural marvels. With increased urbanization and a focus on sustainable construction practices, structural steel fabrication stands as a linchpin for innovative designs and resilient infrastructure. The thriving sector is set to ride the wave of opportunity, transforming challenges into milestones amid the dynamic landscape of construction and remodeling.

Challenges

Fluctuating Cost of Steel

In the realm of structural steel fabrication, grappling with the volatility of steel prices is paramount. To fortify against unpredictable market fluctuations, companies must implement strategic measures. Establishing long-term partnerships with dependable steel suppliers, exploring alternative material options, and adopting agile pricing models are crucial steps. These proactive measures empower businesses to mitigate the impact of volatile steel prices, ensuring stability in project costs and fostering resilience in the face of market uncertainties. By embracing adaptability and strategic foresight, the structural steel fabrication sector can forge a steadfast path amidst the challenges posed by fluctuating steel costs.

Impact of Escalating Geopolitical Tensions on GCC Structural Steel Fabrication Market

Escalating geopolitical tensions significantly impacts the structural steel fabrication industry, disrupting the global supply chain and increasing production costs. Trade restrictions and sanctions hinder the flow of raw materials, such as steel, affecting fabrication processes. The 2018 United States steel tariffs and subsequent retaliatory measures exemplify this, leading to price volatility and supply chain uncertainties. Geopolitical conflicts, like the Russia-Ukraine crisis, also disrupt steel supply routes, impacting production schedules. Additionally, increased political instability can deter foreign investments, affecting the expansion and development of steel fabrication facilities. Increasing geopolitical tensions create an atmosphere of uncertainties, challenging the structural steel fabrication sector with fluctuating costs, disrupted supply chains, and hindered growth prospects.

GCC Structural Steel Fabrication Market

Segmental Coverage

GCC Structural Steel Fabrication Market – By Fabrication Process

Based on fabrication process, GCC Structural Steel Fabrication Market is divided into Metal Welding, Metal Forming, Metal Cutting, Metal Shearing, Metal Stamping, and Metal Rolling segments. The metal forming segment is a major fabrication process, reflecting the substantial demand and activity within the structural steel fabrication industry in the GCC region. The segment encompasses processes that shape raw materials into desired forms, highlighting the pivotal role of metal forming in the fabrication of structural steel components for construction and infrastructure projects across the GCC.

GCC Structural Steel Fabrication Market Share

GCC Structural Steel Fabrication Market – By Application

Based on application, GCC Structural Steel Fabrication Market is divided into Construction, Automotive, Manufacturing, Energy & Power, and Defense & Aerospace segments. The construction segment is the largest application in the GCC Structural Steel Fabrication Market. The growth is driven by increased disposable income, a global construction boom, and government safety regulations. The growing preference for steel in construction, owing to its sustainability and recyclability, further contributes to its dominance in various infrastructure projects. The rising demand for buildings and infrastructures in cities underscores the significance of construction in the market, making it the primary driving force for continued substantial growth during the forecast period.

GCC Structural Steel Fabrication Market Size

GCC Structural Steel Fabrication Market – By Country

By region, GCC Structural Steel Fabrication Market is divided into Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE. Saudi Arabia emerges as the leading country, showcasing substantial growth and demand for structural steel fabrication. The country's robust construction activities, driven by infrastructure development and urbanization, contribute to a significant market share. Saudi Arabia's strategic investments in various sectors further boost the demand for structural steel, making it a key player in the regional market.

Competitive Landscape

Major players in the GCC Structural Steel Fabrication Market include Zamil Structural Steel Company Limited, Bahrain Mechanical Construction Company WLL, Apex Steel, Towell Engineering, Gulf Structural Steel LLC, Kemco, Elco, QMC WLL, Energy Tec, and Ramco. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion

Market Coverage

Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE

Product/Service Segmentation

Fabrication Process, Application, Region

Key Players

Zamil Structural Steel Company Limited, Bahrain Mechanical Construction Company WLL, Apex Steel, Towell Engineering, Gulf Structural Steel LLC, Kemco, Elco, QMC WLL, Energy Tec, Ramco

 

 

By Fabrication Process

  • Metal Welding

  • Metal Forming

  • Metal Cutting 

  • Metal Shearing

  • Metal Stamping

  • Metal Rolling

By Application

  • Construction

  • Automotive

  • Manufacturing

  • Energy & Power

  • Defense & Aerospace

By Region

  • Bahrain

  • Kuwait

  • Oman

  • Qatar

  • Saudi Arabia

  • UAE

  1. Research Framework
    1. Research Objective
    2. Fabrication Process Overview
    3. Market Segmentation
  2. Executive Summary
  3.  GCC Structural Steel Fabrication Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Booming construction and remodeling activities
        2. Shift toward sustainable construction
      2. Restraints
        1. Volatile steel prices
        2. Skilled labor shortage
      3. Opportunities
        1. Adoption of advanced technologies
        2. Infrastructure development
      4. Challenges
        1. Stringent environmental regulations regarding emissions and waste management
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. GCC Structural Steel Fabrication Market: Marketing Strategies
  5. GCC Structural Steel Fabrication Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share and Forecast
      1. By Fabrication Process
        1.  Metal Welding
        2. Metal Forming
        3. Metal Cutting
        4. Metal Shearing
        5.  Metal Stamping
        6.  Metal Rolling
        7.   
      2. By Application
        1. Construction
        2.  Automotive
        3. Manufacturing
        4.  Energy & Power
        5.  Defense & Aerospace
      3. By Region
        1. Bahrain
        2. Kuwait
        3. Oman
        4. Qatar
        5. Saudi Arabia
        6. UAE
  6. Bahrain Structural Steel Fabrication Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Fabrication Process
      2. By Application
      3. By End User
      4. By Technique
  7. Kuwait Structural Steel Fabrication Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Fabrication Process
      2. By Application
  8. Oman Structural Steel Fabrication Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Fabrication Process
      2. By Application
  9. Qatar Structural Steel Fabrication Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Fabrication Process
      2. By Application
  10. Saudi Arabia Structural Steel Fabrication Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Fabrication Process
      2. By Application
  11. UAE Structural Steel Fabrication Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Fabrication Process
      2. By Application
  12. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. GCC Structural Steel Fabrication Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  13. Impact of Geopolitical Tension in GCC Structural Steel Fabrication Market
  14. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Zamil Structural Steel Company Limited
    2. Bahrain Mechanical Construction Company WLL
    3. Apex Steel
    4. Towell Engineering
    5. Gulf Structural Steel LLC
    6. Kemco
    7. Elco
    8. QMC WLL
    9. Energy Tec
    10. Ramco
    11. Other Prominent Players
  15. Key Strategic Recommendations
  16. Research Methodology
    1.   Qualitative Research
      1.  Primary & Secondary Research
    2.   Quantitative Research
    3.   Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.   Breakdown of Primary Research Respondents, By Region
    5.   Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       GCC Structural Steel Fabrication Market Segmentation

Figure 2       GCC Structural Steel Fabrication Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       GCC Structural Steel Fabrication Market Size, By Value (USD Billion), 2019–2030

Figure 5       GCC Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019–2030

Figure 6       GCC Structural Steel Fabrication Market Share, By Application, By Value, 2019–2030

Figure 7       GCC Structural Steel Fabrication Market Share, By Country, By Value, 2019–2030

Figure 8       Bahrain Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Figure 9       Bahrain Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Figure 10     Bahrain Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

Figure 11     Kuwait Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Figure 12     Kuwait Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Figure 13     Kuwait Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

Figure 14     Oman Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Figure 15     Oman Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Figure 16     Oman Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

Figure 17     Qatar Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Figure 18     Qatar Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Figure 19     Qatar Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

Figure 20     Saudi Arabia Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Figure 21     Saudi Arabia Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Figure 22     Saudi Arabia Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

Figure 23     UAE Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Figure 24     UAE Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Figure 25     UAE Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

 

List of Tables

 

Table 1     GCC Structural Steel Fabrication Market Size, By Fabrication Process, By Value, 2019−2030

Table 2        GCC Structural Steel Fabrication Market Size, By Application, By Value, 2019−2030

Table 3    GCC Structural Steel Fabrication Market Size, By Country, By Value, 2019−2030

Table 4    Bahrain Structural Steel Fabrication Market Size, By Fabrication Process, By Value, 2019−2030

Table 5     Bahrain Structural Steel Fabrication Market Size, By Application, By Value, 2019−2030

Table 6     Kuwait Structural Steel Fabrication Market Size, By Fabrication Process, By Value, 2019−2030

Table 7     Kuwait Structural Steel Fabrication Market Size, By Application, By Value, 2019−2030

Table 8        Oman Structural Steel Fabrication Market Size, By Fabrication Process, By Value, 2019−2030

Table 9        Oman Structural Steel Fabrication Market Size, By Application, By Value, 2019−2030

Table 10      Qatar Structural Steel Fabrication Market Size, By Fabrication Process, By Value, 2019−2030

Table 11      Qatar Structural Steel Fabrication Market Size, By Application, By Value, 2019−2030

Table 12      Saudi Arabia Structural Steel Fabrication Market Size, By Fabrication Process, By Value, 2019−2030

Table 13      Saudi Arabia Structural Steel Fabrication Market Size, By Application, By Value, 2019−2030

Table 14      UAE Structural Steel Fabrication Market Size, By Value (USD Billion), 2019−2030

Table 15      UAE Structural Steel Fabrication Market Share, By Fabrication Process, By Value, 2019−2030

Table 16      UAE Structural Steel Fabrication Market Share, By Application, By Value, 2019−2030

Table 17      Zamil Structural Steel Company Limited Company Overview                

Table 18      Zamil Structural Steel Company Limited Financial Overview                

Table 19      Bahrain Mechanical Construction Company WLL Company Overview              

Table 20      Bahrain Mechanical Construction Company WLL Financial Overview               

Table 21      Apex Steel Company Overview           

Table 22      Apex Steel Financial Overview            

Table 23      Towell Engineering Company Overview         

Table 24      Towell Engineering Financial Overview         

Table 25      Gulf Structural Steel LLC Company Overview         

Table 26      Gulf Structural Steel LLC Financial Overview          

Table 27      Kemco Company Overview                 

Table 28      Kemco Financial Overview                  

Table 29      Elco Company Overview           

Table 30      Elco Financial Overview            

Table 31      QMC WLL Company Overview             

Table 32      QMC WLL Financial Overview              

Table 33      Energy Tec Company Overview          

Table 34      Energy Tec Financial Overview           

Table 35      Ramco Company Overview                 

Table 36      Ramco Financial Overview                  

Market Segmentation

No data available
No data available

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Frequently Asked Questions (FAQs):

Ans: GCC Structural Steel Fabrication Market size was estimated at USD 8.2 billion in 2023.
Ans: GCC Structural Steel Fabrication Market size is expected to grow at a CAGR of 6.53% during the forecast period between 2024 and 2030.
Ans: GCC Structural Steel Fabrication Market size is expected to reach a market value of USD 12.77 billion by 2030.
Ans: Major factors driving the growth of the GCC Structural Steel Fabrication Market include growing construction projects, Metal 3D printing demand, and rising steel fabrication use in the energy sector.
Ans: Saudi Arabia accounts for the highest market share in the GCC Structural Steel Fabrication Market.
Ans: The construction segment accounts for the highest market share in the GCC Structural Steel Fabrication Market by application.
Ans: The metal forming segment accounts for the highest market share in the GCC Structural Steel Fabrication Market by fabrication process.
Ans: Key players in the GCC Structural Steel Fabrication Market include Zamil Structural Steel Company Limited, Bahrain Mechanical Construction Company WLL, Apex Steel, Towell Engineering, Gulf Structural Steel LLC, Kemco, Elco, QMC WLL, Energy Tec, and Ramco.