Construction Spending, Industry - GCC Countries - Market -by Applications - Global Trends & Demand, Forecasts to 2016-20

Description-

Market outlook of the construction spending market in the GCC countries

Technavios market research analyst estimates the market for construction spending in GCC to post a strong CAGR of nearly 8% by 2019. Growing investment in transport infrastructure, development of economic cities, and the rising demand for affordable houses are examples of some critical factors that foster growth in this market during the forecast period.

Growth in the transportation sector is the key driver for the growth of this market. Even though the GCC countries have well-developed highways and airports, the recent rise in population is expected to bolster the demand for a better public transit system during the forecast period. Moreover, since trade services in this region are heavily dependent on the connectivity between important trading hubs, the upgradation of the transport system by the government is expected to result in market growth by 2019.

Geographical segmentation of the GCC countries

Qatar

Bahrain

Kuwait

Oman

Saudi Arabia

UAE

In this market research report, analysts estimate Qatar to be the largest market segment during the forecast period. Extensive investment in the transport infrastructure and the development of social infrastructure projects like retail malls and hotels are expected to result in this regions impressive market share of more than 45% by 2019.

Competitive landscape and key vendors

This market consists of small and large construction companies and is primarily dominated by players like Al Jaber Engineering and Arabian Bemco. The level of competition in this market is expected to intensify during the forecast period due to the entry of private players in the infrastructure development sector.

Key vendors in this market are -

Al Jaber Engineering

Arabian Bemco, Arabtec construction

HBK Group

Mushrif Trading and Contracting Company

Saudi Bin Ladin Group

Other prominent vendors mentioned in this market study are Ashghal, Bechtel, Consolidated Contractors, El Seif Engineering Contracting, Ramaco Trading and Contracting, and Oman Shapoorji Construction Co.

Growth drivers, challenges, and key vendors: Construction spending

Technavios market research analyst has estimated upcoming trends, such as the growth of mixed-use developments, to drive market growth during the forecast period. A mixed-use development refers to a self-sustaining building that blends a unique combination of residential, commercial, cultural, institutional, or industrial uses. Advantages like the widespread availability of residential and commercial spaces, play areas, public amenities such as recreational spaces, community halls, hotels, hospitals, and schools are expected to bolster its development during the forecast period. This increase in the development of mixed-use buildings is expected to incite growth in the construction spending market during the forecast period.

ResearchMoz Global Pvt. Ltd.

90 State Street,

Albany, NY 12207,

United States

http://www.researchmoz.us,

Blog - http://bit.ly/2b1Ayn6

866-997-4948 (Us-Canada Toll Free),

+1-518-621-2074,

Email to: sales@researchmoz.us,