Saudi Arabia Construction Market Report 2021 - Industry Forecast to Recover in 2021, Growing by 2.9%

Dublin, April 09, 2021 (GLOBE NEWSWIRE) -- The "Construction in Saudi Arabia - Key Trends and Opportunities to 2025 (Q1 2021)" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia's construction industry is forecast to recover in 2021, growing by 2.9%, after contracting by an estimated 0.5% in 2020. In 2022, the industry is projected to continue to recover, growing by 3.2%, and then expand by 4.3% over the remainder of the forecast period (2023-2025). Over this period, the industry's output is expected to be supported by the government's focus on the development of overall infrastructure, as well as energy and utilities construction projects, in a bid to diversify its economy away from oil.

With the collapse of oil prices and disruptions due to the COVID-19 outbreak, in December 2020 the government announced a SAR990 billion (US$263.9 billion) budget for 2021. The Kingdom's budget statement showed a cut to government spending of 7% in 2021, implying that the main policy goal for the Kingdom in the short term is to reduce the budget deficit, rather than boost economic growth. However, there is a huge pipeline of projects related to the long-term diversification plans under Vision 2030. This was underlined by the crown prince's announcement in January 2021 that the Public Investment Fund (PIF) is to invest SAR3 trillion (US$800 billion) on projects in the country over the next decade.

This report provides detailed market analysis, information, and insights into Saudi Arabia's construction industry, including -

• Saudi Arabia's construction industry's growth prospects by market, project type and construction activity

• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Saudi Arabia's construction industry

• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

This report provides a comprehensive analysis of the construction industry in Saudi Arabia. It provides -

• Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Saudi Arabia, featuring details of key growth drivers.

• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector

• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.

• Listings of major projects, in addition to details of leading contractors and consultants

Key Topics Covered:

1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status

4 Construction Outlook
4.1 All Construction
4.2 Commercial Construction
4.3 Industrial Construction
4.4 Infrastructure Construction
4.5 Energy and Utilities Construction
4.6 Institutional Construction
4.7 Residential Construction

5 Key Industry Participants
5.1 Contractors
5.2 Consultants

6 Construction Market Data

For more information about this report visit https://www.researchandmarkets.com/r/i41k89

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900