Saudi Arabia Precast Concrete Market

The Saudi Arabia precast concrete market is expected to grow from US$ 1,021.56 million in 2022 to US$ 1,870.13 million by 2030; it is expected to grow at a CAGR of 7.9% from 2022 to 2030.

Market Introduction

Precast concrete is a construction material constructed by pouring concrete into a preshaped mold. The concrete is then left to be cured in an appropriate environment. Once the mold is cured, the mold is removed and reused. Such structures are responsible for enhancing construction speed, improving productivity, and helping monitor cost and quality significantly. Hence, with the growing demand for cost-effective and safe materials, the demand for precast concrete is expected to rise.  

The construction sector is a crucial component of the Vision 2030 program of Saudi Arabia's economy. According to the Housing Ministry of Saudi Arabia, the country needs to build 3.3 million units by 2025, which is expected to boost the construction sector's growth. In addition, in February 2023, the National Housing Company launched the Al-Fursan suburb project in the northeast of Riyadh, which covers an area of 35 million square meters with over 50,000 residential complexes of various types and more than 190 major facilities and commercial centers with green spaces surpassing six million square meters. Such large-scale projects aim to provide lower-income groups with housing opportunities, create new jobs, and diversify the economy. Thus, supportive government initiatives associated with new construction projects are expected to provide various growth opportunities for the players operating in the Saudi Arabia precast concrete market from 2022 to 2030. The aforementioned factors are driving the Saudi Arabia precast concrete market growth.

In the construction sector, contractors and builders are considered the primary end users of precast concrete. They rely on precast elements for their projects, whether constructing residential buildings, commercial complexes, or industrial facilities. Precast components such as beams, columns, and wall panels streamline construction processes, reduce labor costs, and accelerate project timelines. This efficiency is especially valuable in the competitive construction industry. Industrial facilities, factories, and distribution centers use precast concrete components for construction and flooring systems. The robustness and speed of installation make precast concrete floors ideal for high-traffic areas where durability is essential. Precast also aids in constructing warehouses and production facilities efficiently. Precast concrete plays a pivotal role in various institutions, offering durability, versatility, and efficiency in construction. Educational institutions rely on precast components such as beams, columns, and wall panels for swift and efficient building projects. In healthcare institutions, precast wall panels, particularly those with nonporous finishes, resist moisture and are easy to clean, making them ideal for critical areas such as operating rooms and patient wards. In correctional facilities, precast concrete provides a robust security solution. Furthermore, infrastructure development is a significant end-use sector for precast concrete. Government agencies, such as the Department of Transportation, utilize precast components, including bridge beams, culverts, and highway barriers, for road and bridge construction. These precast elements offer advantages in terms of durability and rapid installation, minimizing traffic disruptions and enhancing the longevity of transportation infrastructure. All these factors are driving Saudi Arabia precast concrete market growth.

Key Market Segments

Based on structure system, the Saudi Arabia precast concrete market is segmented into beam & column system, floor & roof system, bearing wall system, façade system, and structure system others. In 2022, the beam & column system segment dominated the market and is expected to register the highest CAGR from 2022 to 2030. Precast structure systems comprise various shapes and components, including beams and columns. Beams are structural components that are formed in one of three fundamental shapes, including rectangular, inverted tee beams and L-beams. Beams are primarily utilized to support deck members such as solid slabs, double tees, hollow-core, and sometimes other beams. Columns consist of multilevel components that support beams and spandrels in applications such as parking structures and precast concrete structure systems. The main advantages of precast concrete structures such as beams and columns are increased construction speed, improved productivity, quality control, and cost-efficiency. The precast beams and columns offer other advantages, including design flexibility, faster installation structures, sustainable construction, durability, long life, low maintenance, and moisture resistance. Precast beams and columns are widely used in residential and commercial sectors. Factors such as progressing public and private expenditure in infrastructure projects—particularly in the emerging regions coupled with the advantages of precast beams and columns, are anticipated to surge the demand for precast beams and columns from 2022 to 2030.

Major Sources and Companies

A few primary and secondary sources referred to while preparing this report on the Saudi Arabia precast concrete market are paid databases (factiva), publications, hoovers, investor presentations, newsletters, annual reports, and other information available in the public domain. Some key companies profiled in the report are CEMEX, S.A.B. de C.V.; Holcim Ltd.; Kifah Precast; Prainsa; Zamil Industrial; RNZ (Rabiah-Nassar & Zamil Concrete Industries); Bina Precast; Red Sea International Company; Spacemaker KSA; and Gulf Precastare.

Reasons to buy the report

• Progressive industry trends in the Saudi Arabia precast concrete market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Saudi Arabia precast concrete market from 2020 to 2030
• Estimation of the demand for Saudi Arabia precast concrete across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the Saudi Arabia precast concrete market growth
• Recent developments to understand the competitive market scenario and the demand for precast concrete in Saudi Arabia.
• Trends and outlook coupled with factors driving and restraining Saudi Arabia precast concrete market.
• Decision-making process by understanding strategies that underpin commercial interest concerning Saudi Arabia precast concrete market growth
• The Saudi Arabia precast concrete market size at various nodes of market
• Detailed overview and segmentation of the Saudi Arabia precast concrete market as well as its dynamics in the industry

Saudi Arabia Precast Concrete Market Segmentation

By Structure System

• Beam & Column System
• Floor & Roof System
• Bearing Wall System
• Façade System
• Structure System Others

By End-Use

• Residential
• Commercial
• Others

Company Profiles

• CEMEX, S.A.B. de C.V.
• Holcim Ltd.
• Kifah Precast
• Prainsa
• Zamil Industrial
• RNZ (Rabiah-Nassar & Zamil Concrete Industries)
• Bina Precast
• Red Sea International Company
• Spacemaker KSA
• Gulf Precastare

Saudi Arabia Precast Concrete Strategic Insights

Strategic insights for the Saudi Arabia Precast Concrete provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Saudi Arabia Precast Concrete Report Scope

Saudi Arabia Precast Concrete Regional Insights

The geographic scope of the Saudi Arabia Precast Concrete refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.