GCC Structural Steel Fabrication Market Size, Share & Industry Analysis, By Type (Heavy Sectional Steel, Light Sectional Steel, Others), By Industry (Manufacturing, Power and Energy, Construction, Oil and Gas, Other)And Regional Forecast, 2024-2032

The process where stainless fabricators convert the raw material and steel options into desired shapes is referred as steel fabrication. It can be used in the automotive, construction, civil infrastructure sector & mining. The Steel fabrication process has two technique, the first way is integrated route process or raw material approach where various type materials are melted, heated & mixed. The electric arc furnace technique of steel fabrication is other method in which recycled steel is melted, to bring steel as the end product.

This stainless steel fabrication is utlized to manufactutre ample variety of products, components & projects such as architectural metal fabrication projects. The steel has properties like high oxidation temperature, integrity & corrosion resistance. It helps in sustaining the mechanical properties over a vast temperature range to make it more appropriate material to be used in automotive, marine application & aerospace. As structural steel fabrication workshops involves cutting, welding, shearing & machining, therefore it runs on different value-added services under a single roof.

The GCC structural steel fabrication market has huge potential to grow there presence in market in near future. Structural steel is widely used in large industrial processes, where fabricated steel is needed. After blending, assembling of steel, cutting, fabricators it is required to shape the metal as per the requirement of the customer. The cutting-edge technology is being utlized by most structural steel fabricators to maintain proficiency & keep track of the operation.

Key Market Driver -

• Increasing construction spending in emerging economies • Recovery of construction industry in developed markets

Key Market Restraint -

• The usage of low-quality raw materials have detrimental effects on environment such as greenhouse gases. • Demand of experienced skilled professional in steel fabrication process.

Key Players Covered:

As there are several players in GCC Structural Steel Fabrication Market therefore,  this market is quite competitive. Various stratergies are being adopted by players such as product portfolio expansion and quality production to enhance their position in the market.

Some of the few key players who are operating in the GCC Structural Steel Fabrication Market are Hidada Ltd Company, Arabian International Company For Steel Structures, Al Yamamah Steel Industries Co., Mabani Steel LLC, Al Shahin Company For Metal Industries, IMCC, Standard Steel Fabrication Co LLC, Techno Steel, Aarya Engineering, Vogue Steel LLC

Regional Analysis:

The rise in industrialization & urbanization has impacted North America & the region is expected to exhibit substantial growth over forecast period. The industries & manufacturers are focusing more towards on expanding their business in North America followed by Latin America. As applications such as power & energy, oil & gas & others is increasing, the demand for structural steel fabrication is also growing simultaneously. The various development projects in the region is also contributing towards the growth. The market is highly fragmented in the region & has potential to grow their existence even more in coming years.

The Europe region is anticipated to generate various opportunities for structural steel vendors. Owing to increase in renovation of residential & reconstruction activities. As most of the buildings in Europe were built before 1960 & 1990, therefore, some of the buildings will need reconstruction & renovation. North and West European regions consist of more ancient residential buildings compared to other regions, which will increase the demand for structural steel fabrication. The government authorities of Europe is making a huge investment for this renovation activities. This region is likely to grow their presence more in near future.

In terms of revenue, Asia Pacific market estimated to have huge growth owing to emergeing economy & increase in residential construction activities. The infrastructural & development projects in the region is another favourable area which is expected to push the demand for structural steel products. Also, the government of India have also increased infrastructure expenditure & investment. Due to the growth in industrialization & various development projects and plans like smart cities the steel fabrication market is rising. Countries such as Japan, India & China has huge demand for steel fabrication due to increase in the industrial activities. Hence, because of the projects & activities steel fabrication demand is strongly influencing the market in the region.

Middle East Countries is predicted to the witness tremendous growth in structural steel fabrication market. Especially the GCC countries is estimated to experience the huge growth in CAGR during the forecast period. The rise in the proposal of infrastructural projects & steel consumption is one major driving factor in the growth along with increasing in construction activities in the GCC region. For Instances, Saudi Arabia is expected have substantial market for structural steel fabrication amid GCC countries followed by UAE. In Kuwait, Qatar, Bahrain’s Diyar Al Muharraq there has been a huge investment for infrastructure development, projects or waterfront city construction. All these activities are expected to boost the structural steel fabrication market especially in construction industry in coming years. Additionally, the rising population in GCC region has shifted the focus towards environmental friendly constructions. The prefabricated building’s demand are increasing due to being more environmental friendly & affordable than any other conventionally constructed buildings &  also doesn’t produce any on-site waste. The growth in the tourism industry owing to the evolution in infrastructural activities have arisen the demand for prefabricated buildings in the region primarily in the UAE and Saudi Arabia.

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Segmentation

Key Industry Developments

• In May 2019: IMCC Investment LLC announced that the company achieved the significant milestone of one million man-hours without a lost time injury (LTI) on Saudi Aramco/NPCC “10 Jackets Fabrication Project”.


• In February 2019: Kingdom Schools Visited to Al Yamamah Company for Reinforcing Steel Bars