Saudi Arabia Steel Market: Size, Share, Trends & Outlook 2025-2033

Saudi Arabia Steel Market Overview

Market Size in 2024: USD 8.7 Billion

Market Size in 2033: USD 11.8 Billion

Market Growth Rate 2025-2033: 3.40%

According to IMARC Group's latest research publication, "Saudi Arabia Steel Market Size, Share, Trends and Forecast by Type, Product, Application, and Region, 2025-2033", The Saudi Arabia steel market size was valued at USD 8.7 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 11.8 Billion by 2033, exhibiting a CAGR of 3.40% from 2025-2033.

How AI is Reshaping the Future of Saudi Arabia Steel Market

• AI-powered predictive maintenance systems in steel manufacturing facilities optimize equipment performance and reduce unplanned downtime by 35-40%, supporting Saudi Arabia's ambitious Vision 2030 infrastructure projects including NEOM, Red Sea Project, and Riyadh Metro through enhanced production efficiency and cost reduction in steel operations.
• Machine learning algorithms integrated with supply chain management platforms optimize raw material procurement and inventory management for steel producers, reducing waste by 25-30% while improving delivery timelines for major construction projects across the kingdom's expanding urban development initiatives.
• Advanced AI-driven quality control systems in steel production enhance product consistency and safety standards, reducing defects by 40-50% while supporting Saudi Arabia's goal to become a regional manufacturing hub through world-class steel production capabilities for automotive, construction, and energy sectors.
• Artificial intelligence platforms optimize steel distribution networks and logistics operations, reducing transportation costs by 20-25% while improving delivery efficiency for the kingdom's mega-projects requiring massive steel quantities for structural frameworks, pipelines, and industrial infrastructure development.
• Smart energy management systems powered by AI optimize power consumption and carbon emissions in steel manufacturing plants, reducing energy costs by 30-35% while supporting Saudi Arabia's sustainability commitments and green steel initiatives aligned with the Saudi Green Initiative and circular economy goals.

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Saudi Arabia Steel Market Trends & Drivers:

Saudi Arabia's steel market is experiencing robust growth driven by massive infrastructure investments under Vision 2030, including mega-projects like NEOM, Red Sea Project, and Riyadh Metro that require substantial steel quantities for structural frameworks, bridges, and building applications. The kingdom's economic diversification strategy is creating unprecedented demand for steel across construction, smart cities development, and transportation network modernization projects that are transforming the urban landscape.

The oil and gas sector continues to be a major driver for steel demand, as the world's largest oil exporter invests heavily in expanding and modernizing energy infrastructure including refineries, pipelines, drilling platforms, and storage facilities. Specialized steel grades are essential for offshore rigs, pipelines, and oil platforms that must withstand harsh operating conditions, while the expanding downstream petrochemical sector requires extensive steel infrastructure for processing facilities and industrial complexes.

Rapid urbanization and housing development are creating sustained demand for steel products across residential, commercial, and mixed-use developments. The government's affordable housing agenda under Vision 2030, combined with population growth in major urban centers like Riyadh, Jeddah, and Dammam, is driving construction activities that require steel for structural reinforcement and building frameworks. Additionally, renewable energy projects under the Saudi Green Initiative are generating new demand for steel in solar power plants, wind turbines, and energy storage systems.

Saudi Arabia Steel Industry Segmentation:

The report has segmented the market into the following categories:

Analysis by Model Type:

• 2 PL
• 3 PL
• 4 PL

Analysis by Transportation Mode:

• Roadways 
• Seaways 
• Railways
• Airways

Analysis by End Use:

• Manufacturing
• Consumer Goods 
• Retail 
• Food and Beverages
• IT Hardware 
• Healthcare
• Chemicals
• Construction
• Automotive
• Telecom
• Oil and Gas
• Others

Regional Analysis:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

• Aasia Steel Factory Company Ltd.
• Al Ittefaq Steel Products Co.
• Al Sadd Steel Industrial Company
• Al-Gaswa Steel Industries Co.
• Al-Rajhi Steel
• Modern Factory for Steel Industries Co. Ltd.
• Shaaban Steel
• Solb Steel
• Zamil Structural Steel Company Limited

Recent News and Developments in Saudi Arabia Steel Market

• September 2025: Saudi mills upgrade to electric arc furnaces and AI-powered sorting, boosting flexible input, sustainability, and metal purity in steel recycling.
• September 2025: Prefabricated steel adoption rises, with advanced digital design and robotics streamlining project timelines for large-scale initiatives such as NEOM and urban housing.
• September 2025: Local specialty steel production expands to electrical steel and tinplate, diversifying products previously not manufactured domestically, driven by Vision 2030 innovation goals.

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