Saudi Arabia
Construction Equipment market is anticipated to grow at a rate of an impressive
CAGR in the forecast period, 2023-2027. Ongoing construction activities and
favorable government policies promoting construction activities in the country
are the key driving factors for the Saudi Arabia Construction Equipment market.
Supportive Government
Policies Boosts the Market Growth
Saudi Vision 2030, an
ambitious project of the Saudi government, aims to reinforce economic and
investment activities to improve the image and growth of Saudi Arabia. Rise in
the non-oil international trade and the development of public sectors including
education, healthcare, tourism, recreation, and infrastructure. The
infrastructure development introduced a number of construction projects, which
escalated the demand for new and used heavy Construction Equipment in the
country. The presence of large-scale, multi-purpose, and complex construction
projects aiming to transform the broader economy contribute to the surge of Construction
Equipment demand. Projects like the Red Sea Project, NEOM, and Qiddiya, which
are significant projects playing a crucial role in achieving Saudi Vision 2030,
are fostering the demand of the Saudi Arabia Construction Equipment market.
These projects are constructed with an aim to boost tourism activities and
enhance and improve the lives of the people by providing quality services and
propelling the economic growth of the country.
Development Of Online Sales
Channel Supports Market Demand
A large proportion of
Saudi-based Construction Equipment sellers rely on online auctions to fulfill
the growing demand for fleet management and assets deposition. Using online
sales channels provides a significant advantage over traditional sales channels
because it reaches a broader audience, accelerating the sales of Construction
Equipment. Some of the Construction Equipment is required seasonally. When the
seasonal oversupply of equipment happens in Saudi Arabia, the market players
can sell their products through online auctions to countries with a lack of
supply and high seasonal demand, which balances the income of the market
players involved in the construction industry. Online auction promotes Construction
Equipment to potential international buyers and boosts Construction Equipment's
reach across the globe. To fulfill the growing demand and make quick deliveries
of Construction Equipment to customers by the market players is expected to
fuel the growth of the Saudi Arabia Construction Equipment market.
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Market Segmentation
The Saudi Arabia Construction
Equipment market is segmented on the basis of segment,
product type, application, regional distribution, and company. Based on the
segment, the market is divided into earth moving, material handling, concrete
mixing, road construction and others. Based on the product type, the market is
divided into backhoe loaders, excavators, cranes, transit mixer, forklifts,
batching plants, concrete pump, wheel loader, road roller machine, compaction
equipment, compressors, motor graders, rigid dump trucks and others. Based on
the end-user, the market is divided into oil & gas, construction,
infrastructure, manufacturing, and others. To analyze the market based on the
region, the Saudi Arabia Construction Equipment market is studied in major
regions namely North & Central region, Southern region, Western region, and
Eastern region.
Market Players
Komatsu Limited, Volvo
Construction Equipment Corporation, Catepillar Inc., Hitachi Construction
Machinery Co. Ltd., Manitowoc Company Inc., Sumitomo Corporation, CNH
Industrial NV, Doosan Intracore Construction Equipment, Kobelco Construction
Machinery Co. Ltd, XCMG Group, are among the major market players in the Saudi Arabia
platform that lead the market growth of the Saudi Arabia Construction Equipment
market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Segment
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Product Type
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End-User
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Regional scope
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Northern & Central, Southern, Eastern, Western
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Key companies profiled
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Komatsu Limited, Volvo Construction
Equipment Corporation, Catepillar Inc., Hitachi Construction Machinery Co.
Ltd., Manitowoc Company Inc., Sumitomo Corporation, CNH Industrial NV, Doosan
Intracore Construction Equipment, Kobelco Construction Machinery Co. Ltd, XCMG
Group
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Customization scope
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10% free report customization with purchase. Addition or
alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report Scope:
In this report, Saudi Arabia Construction
Equipment market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- Saudi Arabia Construction
Equipment Market, By Segment:
- Earth Moving
- Material Handling
- Concrete Mixing
- Road Construction
- Others
- Saudi Arabia Construction Equipment Market, By Product Type:
- Backhoe Loaders
- Excavators
- Cranes
- Transit Mixer
- Forklifts
- Batching Plants
- Concrete Pump
- Wheel Loader
- Road Roller Machine
- Compaction Equipment
- Compressors
- Motor Graders
- Rigid Dump Trucks
- Others
- Saudi Arabia Construction Equipment Market, By End-User:
- Oil & Gas
- Construction
- Infrastructure
- Manufacturing
- Others
- Saudi Arabia Construction
Equipment Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia Construction Equipment
market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Saudi Arabia Construction Equipment Market
is an upcoming report to be released soon. If you wish an early delivery of
this report or want to confirm the date of release, please contact us at [email protected]