Middle East Construction Market is Expected to Reach USD 401.17 Billion by 2030

Surge in large-scale industrial projects nationwide across the region is driving the Middle East construction market demand during the forecast period.

The Middle East Construction Market size was valued at USD 298.00 billion in 2023, and is predicted to reach USD 401.17 billion by 2030, at a CAGR of 2.9% from 2024 to 2030, according to the new research by Next Move Strategy Consulting.

The Middle East, comprising nations such as Oman, Saudi Arabia, and Kuwait, is witnessing a plethora of construction developments aimed at fostering overall market expansion. Oman, in particular, is experiencing a notable surge in its construction sector attributed to heightened investments in major infrastructure ventures.

Remarkable megaprojects in 2023 include Rathath (Drizzle) Boulevard in Dhofar, Rimal Park in South Al Batinah, and Aames Bay Development in Musandam, all contributing significantly to the burgeoning construction market in Oman.

However, the construction market faces substantial challenges arising from the intricate landscape of government regulations and permitting procedures, that require a range of permits and approvals from local, regional, and national authorities. These requirements encompass zoning regulations, environmental assessments, compliance with building codes, safety standards, and other regulatory prerequisites.

Permit delays, bureaucratic inefficiencies, and discrepancies in regulations across different jurisdictions can significantly prolong project timelines and increase costs. Moreover, fluctuations in regulations or unforeseen policy changes can disrupt ongoing projects and deter future investments.

On the other hand, digital transformation and the adoption of Building Information Modeling (BIM) are reshaping the construction landscape by integrating advanced technologies to improve efficiency, accuracy, and collaboration across projects.

BIM, a sophisticated 3D modeling tool, empowers stakeholders to create and manage digital representations of structures and infrastructure, thereby enhancing coordination and communication among project teams.

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Several key market players operating in the Middle East construction industry include China State Construction Engineering Corp. Ltd. (CSCEC), China Railway Group Ltd. (CREC), China Railway Construction Corp. Ltd. (CRCC), China Communications Construction Group Ltd. (CCCC), Metallurgical Corporation of China Ltd. (MCC), Power Construction Corp. of China, Vinci SA, China Energy Engineering Corp. (CEEC), Shanghai Construction Group (SCG), Bouygues Group, and others.

Key Insights from the Middle East Construction Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on the Middle East construction market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The report provides an analysis of the Middle East construction market share and competitive landscape of key players in the industry.

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