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Dammam Industrial Construction Market Size (2024 - 2029)

The Dammam Industrial Construction Market is projected to experience significant growth over the forecast period, driven by Saudi Arabia's strategic initiatives to enhance its manufacturing and industrial sectors. The country's ambition to lead in additive manufacturing, coupled with substantial investments in Industry 4.0 technologies, underscores the importance of this market. Additionally, the development of new industrial cities and the expansion of the mining sector, as part of Saudi Vision 2030, further contribute to the market's expansion. These efforts are aimed at increasing productivity, competitiveness, and economic contribution, positioning Dammam as a key player in the region's industrial landscape.

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Market Size of Dammam Industrial Construction Industry

Dammam Industrial Construction Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 250 Million
Market Size (2029) USD 356.5 Million
CAGR (2024 - 2029) 6.09 %
Market Concentration Low

Major Players

Dammam Industrial Construction Market Major Players

*Disclaimer: Major Players sorted in no particular order

Dammam Industrial Construction Market Analysis

The Dammam Industrial Construction Market size is estimated at USD 250 million in 2024, and is expected to reach USD 356.5 million by 2029, growing at a CAGR of 6.09% during the forecast period (2024-2029).

  • Saudi Arabia intends to become a global leader in additive manufacturing by manufacturing 3D-printed raw materials, developing engineering design capabilities, and localizing additive production services based on its strategic location, resources, and highly skilled workforce.
  • The Saudi Ministry of Economy and Planning states that manufacturing is the third most significant contribution to the national GDP. Saudi Arabia also invests heavily in developing Industry 4.0 technologies that increase productivity and competitiveness while reducing costs, waste, and carbon emissions.
  • MODON, the Kingdom's Authority for Industrial Property, has developed and operates around two dozen commercial cities to build several new ones to contribute to society's capacity development. Therefore, MODON commissioned AS+P to draw up master plans defining the characteristics of the new administrative heart of Riyadh 2 and Dammam 2 industrial cities.
  • There's no slack in the Saudi mining industry. More than 1,300 new licenses have been issued, and over USD 32.4 billion in new investments were attracted. These were in the mining and minerals sector through nine new projects. According to the latest Ministry of Industry and Mineral Resources data, this is the case.
  • In line with Saudi Vision 2030, the country intends to make its mining sector a third pillar of its national industry. According to the experts, Saudi Arabia has almost USD 1.35 trillion worth of mineral wealth. The number of mining factories in the Kingdom has risen 50 percent since the launch of Vision 2030. According to data from 2022, Saudi Arabia has over 10,000 industrial installations. In all, more than 1,000 factories started up in 2022 alone.

Dammam Industrial Construction Industry Segmentation

Industrial construction involves factories, power plants, warehouses, and other highly specialized facilities. These facilities' mechanical and structural components shall also be designed, installed, and maintained.

A complete background analysis of the Jeddah Commercial Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.

Dammam industrial construction market is segmented by type (warehouse and distribution, manufacturing). The report offers market size and forecasts for the Dammam industrial construction market in value (USD) for all the above segments.

By Type
Warehouse and Distribution
Manufacturing
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Dammam Industrial Construction Market Size Summary

The Dammam Industrial Construction Market is poised for significant growth, driven by Saudi Arabia's strategic initiatives and investments in various sectors. The country's ambition to become a global leader in additive manufacturing is supported by its strategic location, abundant resources, and skilled workforce. The Saudi government is heavily investing in Industry 4.0 technologies to enhance productivity and competitiveness while minimizing costs and environmental impact. The development of new industrial cities by MODON and the expansion of the mining sector, as part of Saudi Vision 2030, are key contributors to the market's expansion. The establishment of new industrial facilities, such as Immensa's additive manufacturing center and Vedanta's copper rod plant, underscores the region's commitment to diversifying its industrial base and supporting domestic production.

The market landscape in Dammam is characterized by a competitive environment with a notable presence of international players, which is expected to drive further market competition. The development of a fully integrated logistics park at King Abdulaziz Port, along with strategic partnerships and agreements, highlights the region's focus on enhancing its logistical capabilities. The market also sees significant activity in the healthcare sector, with initiatives aimed at importing advanced medical technologies and promoting knowledge transfer. The presence of major cities like Dammam, Jeddah, and Riyadh as key industrial hubs further supports the market's growth trajectory, offering opportunities for expansion and consolidation among key players in the industry.

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Dammam Industrial Construction Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increase in Oil and Gas Sector

    3. 1.3 Market Restraints

      1. 1.3.1 Skills shortages.

    4. 1.4 Market Oppourtunites

      1. 1.4.1 Foreign Investment

    5. 1.5 Value Chain / Supply Chain Analysis

    6. 1.6 Porter's Five Force Analysis

      1. 1.6.1 Threat of New Entrants

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Bargaining Power of Suppliers

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

    7. 1.7 Impact of Covid-19 on the market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Warehouse and Distribution

      2. 2.1.2 Manufacturing

Dammam Industrial Construction Market Size FAQs

The Dammam Industrial Construction Market size is expected to reach USD 250 million in 2024 and grow at a CAGR of 6.09% to reach USD 356.5 million by 2029.

In 2024, the Dammam Industrial Construction Market size is expected to reach USD 250 million.

Dammam Industrial Construction Market Report Snapshots

Dammam Industrial Construction Market - Growth, Trends, COVID-19 Impact, and Forecasts (2024 - 2029)