This market research report by Technavio segments the construction spending market in the GCC countries by geography and includes regions like Qatar, Bahrain, Kuwait, Oman, Saudi Arabia, and UAE. It also provides a detailed analysis of the key trends and vendors, including Al Jaber Engineering, Arabian Bemco, Arabtec construction, HBK Group, Mushrif Trading and Contracting Company, and Saudi Bin Ladin Group.
Technavio has released a new market research report on the construction spending market in GCC countries, which is expected to grow at a CAGR of 8% between 2015 and 2019. Growing investments in transport infrastructure, development of economic cities, and the rising demand for affordable houses are examples of some critical factors that foster growth in this market during the forecast period. Qatar is the largest construction market among GCC countries, and is expected to occupy around 45% of the total market by 2019. Extensive investment in the transport infrastructure and the development of social infrastructure projects like retail malls and hotels are expected to result in this region’s impressive market share
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One of the latest trends that this market is witnessing is the growth of mixed-use developments, which refers to a self-sustaining building that blends a unique combination of residential, commercial, cultural, institutional, or industrial uses. Advantages like the widespread availability of residential and commercial spaces, play areas, public amenities such as recreational spaces, community halls, hotels, hospitals, and schools are expected to bolster the development of mixed-use buildings in the construction spending market during the forecast period,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research.
Even though the GCC countries have well-developed highways and airports, the recent rise in population is expected to bolster the demand for a better public transit system during the forecast period. Moreover, since trade services in this region are heavily dependent on the connectivity between important trading hubs, the upgradation of the transport system by the government is expected to result in market growth by 2019.
The key players in the construction spending market in GCC countries include Al Jaber Engineering, Arabian Bemco, Arabtec construction, HBK Group, Mushrif Trading and Contracting Company, and Saudi Bin Ladin Group. This market consists of small and large construction companies and is primarily dominated by players like Al Jaber Engineering and Arabian Bemco. The level of competition in this market is expected to intensify during the forecast period due to the entry of private players in the infrastructure development sector.
A more detailed analysis is available in the Technavio report, Construction Spending Market in GCC Countries 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Airport Construction Market in the GCC Countries 2015-2019
- Data Center Construction Market in GCC Countries 2015-2019
Further readings:
