Saudi Arabia's Building Inspection Market Set for Steady Growth Through 2030

NEW YORK - Nov. 6, 2024 - PRLog -- According to P&S Intelligence, the building inspection services market in Saudi Arabia is projected to reach a valuation of USD 182.9 million in 2024, with an expected growth to USD 316.7 million by 2030, at a CAGR of 9.6%. This surge is primarily fueled by expanding construction activities, rising investments in real estate, and a growing population.

The COVID-19 pandemic accelerated a shift toward remote inspections using digital tools, enabling the industry to maintain operations while reducing labor costs. Remote inspections not only reduce the expenses associated with the inspection process but also streamline documentation by allowing electronic submissions. Through videography, photos, and electronic notes, inspectors can quickly share findings with stakeholders in a fully digital, paperless format.

With the development of new projects, such as NEOM and other residential and industrial complexes, demand for building inspections is surging. These services ensure structural stability and compliance with quality standards. Notably, Saudi Arabia's National Development Fund reported that over 1,400 infrastructure projects were launched in 2022 alone.

Browse detailed report analysis on Saudi Arabia Building Inspection Services Industry Growth Report, 2030 (https://www.psmarketresearch.com/market-analysis/saudi-ar...)

Key Market Insights

• In 2024, home inspections account for a 45% market share and are anticipated to grow at a 10% CAGR through the forecast period.
• Comprehensive home inspections cover elements like exteriors, electrical systems, roofing, HVAC, plumbing, and more.
• Specialty inspections address sewer and septic systems, roof inspections, irrigation, property safety, and annual maintenance.
• Demand for specialty inspections is increasing due to consumer awareness of specific property issues.
• Outsourced inspections dominate the market, holding a 65% share with a 9.8% projected CAGR, offering high-quality results and enabling businesses to focus on core activities.
• Professional inspection companies, equipped with skilled teams and adherence to standards, deliver precise and consistent results.
• Al-Riyadh is expected to grow at a 10.2% CAGR, driven by rising household numbers and commercial developments.
• Major residential investments, including a SR 72 billion project for 108,000 units, are propelling construction in Riyadh.
• The Eastern province leads with a 40% market share, underpinned by large construction projects and strict safety regulations.