The Saudi Arabian construction industry registered a compound annual growth rate (CAGR) of 6.94% during the review period (2008–2012). Industry expansion was supported by the government’s initiatives to transform the country from an oil-based economy to one more reliant on manufacturing and services.
This resulted in significant investments in infrastructure development, which positively affected other markets in the industry. Population growth and a rise in disposable income also increased the demand for residential, commercial and institutional buildings. The industry is expected to record a forecast-period (2012–2017) CAGR of 5.54%, driven by an increase in government expenditure on infrastructure construction.
This report provides a comprehensive analysis of the construction industry in Saudi Arabia. It provides:
•Historical (2008-2012) and forecast (2013-2017) valuations of the construction industry in Saudi Arabia using construction output and value-add methods •Segmentation by sector (commercial, industrial, infrastructure, institutional and residential) and by project type •Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
•Analysis of key construction industry issues, including regulation, cost management, funding and pricing •Assessment of the competitive environment using Porter’s Five Forces analysis •Detailed profiles of the leading construction companies in Saudi Arabia
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•Identify and evaluate market opportunities using Timetric’s standardized valuation and forecasting methodologies •Assess market growth potential at a micro-level with over 600 time-series data forecasts •Understand the latest industry and market trends
•Formulate and validate business strategies using Timetric’s critical and actionable insight •Assess business risks, including cost, regulatory and competitive pressures •Evaluate competitive risk and success factors
•According to the Central Department of Statistics and Information, Saudi Arabia’s population increased from 28.4 million in 2011 to 29.2 million in 2012, registering an annual growth of 2.9%. This growth was significantly lower than the last five-year (2008–2012) average rate of 3.2%, as the birth rate (per 1,000) declined from 23.6 in 2007 to 21.8 in 2012. The gender distribution of the population remains skewed, with males accounting for 55% of the total population and females accounting for 45.0%. According to UN estimates, Saudi Arabia’s population is expected to reach 33.5 million by 2020.
•The unemployment rate averaged at 5.37% during 2009–2012, but fell to 5.1% in 2013. The reduction has been attributed to government policies in early 2013, aimed at reducing the number of unskilled expatriates in the labor force, which initially had an adverse effect on sectors that were dependent on that form of labor. However, it has resulted in a number of individuals being able to find jobs. Timetric expects this scheme, along with the general economic performance, to bring the unemployment rate down to 4.9% by 2017.
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Table of contents
1 Executive Summary
2 Market Overview2.1 The Domestic Economy2.2 Key Trends and Issues2.3 Key Construction Indicators2.4 Benchmarking by Market Size and Growth2.5 Price Dynamics
3 Commercial Construction3.1 Performance Outlook3.2 Key Trends and Issues3.3 Data and Project Highlights
4 Industrial Construction4.1 Performance Outlook4.2 Key Trends and Issues4.3 Data and Project Highlights
5 Infrastructure Construction5.1 Performance Outlook5.2 Key Trends and IssuesContact US:Office: United StatesState Tower90 State Street, Suite 700Albany, NY 12207United States
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