PUNE, India, April 8, 2016 /PRNewswire/ --
The report "Investment Analysis - GCC Construction" published by MarketsandMarkets, The robust GCC economy benefits from strong macroeconomic fundamentals such as solid financial reserves that protect countries against bankruptcy, more diversification, and stronger integration with world trade.
Browse 4 market data Tables and 103 Figures spread through 133 Pages and in-depth TOC on "Investment Analysis - GCC Construction"
Early buyers will receive 10% customization on this report.
Infrastructure segment is the largest segment in the GCC construction industry
The developed service and manufacturing service industries allow less dependence on oil revenues. The infrastructure segment, comprising of road, railways, ports, and airports, is a key focus area of the GCC countries. Besides the residential and office segments, the region is also witnessing significant projects in the segments of leisure, retail, education, hospitality, and healthcare. The GCC nations have made significant budgetary allocations toward the development of transportation such as airways, railways, roadways, and ports. Consequently, the infrastructure industry has shown a strong upward trend. Saudi Arabia dominates in terms of infrastructure projects in 2014, followed by Qatar. A number of projects are being planned in Qatar's infrastructure sector to support the growing inflow of expatriate workers and tourists in this region. Tourism is an opportunity in GCC countries as it is an asset to attract global travelers to its cultural and archeological sites, airports, and beaches.
Government vision will push the GCC construction industry
The economy of GCC countries heavily depends on the oil & gas sector. As the prices of oil & gas are volatile, GCC countries are focusing on economic diversification to reduce their dependence on the energy sector. GCC countries are planning long-term strategies for sustainable growth. These countries are focusing on the growth of various sectors such as tourism and events. Under its strategic vision 2021, UAE plans to allocate huge budgets toward the development of its infrastructure sector. Similarly, Qatar's strategic vision 2030 plans to make heavy investments in its infrastructure, healthcare, and hospitality sectors. Developing its infrastructure and reducing housing shortage were the key concerns of the Bahraini government in 2015. Such infrastructure projects in Bahrain will be supported by the government in this region through enormous investment. Oman government also supports the development of its tourism sector for economic diversification through investment in various sectors. Such factors are expected to propel construction activities across the GCC, particularly between 2015 and 2021. However, uncertainty over oil prices, storage of skilled labor, and issues related to safety & quality of construction sites continue to pose as major challenges in these countries. Shortages in labor and labor policy issues continue to constitute a major challenge. Also, the majority of the workforce is from overseas; there is a challenge to recruit high quality, experienced workers, as the competition to attract them is very high.
Browse Related Reports:
Dry Construction Market by Type (Supporting Framework & Boarding), Material (Metal, Wood, Plasterboard, Plastic, & Others), System (Wall, Ceiling, Flooring, & Others), Application (Residential & Non- Residential) & Region - Trends and Forecast to 2020
Precast/Prefabricated Construction Market by Product Type (Floors & Roofs, Walls, Columns & Beams, Others), Construction Type (Modular, Manufactured, Others), End-Use Sector (Residential, Non-Residential, Infrastructure, Others), Region - Trends & Forecast to 2020
MarketsandMarkets is world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India