Saudi Arabia Construction Equipment Market (2023-2029) | Size, Share, Growth, Trends, Forecast, Revenue, industry, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Saudi Arabia Construction Equipment Market

Saudi Arabia Construction Equipment Market has been witnessing significant developments in recent years. For instance, the introduction of several projects such as the NEOM City project aims to create a new smart city in the country. The project requires a significant amount of construction equipment, and this has led to an increase in demand for construction equipment in Saud Arabia. Additionally, the Jeddah Tower Project aims to create the world's tallest buildings which require a large amount of construction equipment. The government has been investing heavily in infrastructure projects, including roads, airports, and seaports which drives demand for construction equipment in the country.

The construction equipment market in Saudi Arabia is expected to grow in the coming years, driven by government investments in infrastructure development, increasing urbanization, the rising tourism industry, and economic diversification as the government has been working to diversify its economy away from its reliance on oil. Additionally, technological advancements such as telematics, IoT, and automation are making construction equipment more efficient and productive, which is expected to drive demand for new equipment in the industry.

Saudi Arabia Construction Equipment Market Synopsis

Saudi Arabia Construction Equipment Market report is a part of the Middle East Construction Equipment Market report thoroughly covers the market by types, applications, and regions. Saudi Arabia Construction Equipment Market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

The construction equipment market in Saudi Arabia declined over the past few years on account of reduced government expenditure due to low crude oil prices, which resulted in the cancellation of many large-scale construction projects, thereby affecting the demand for construction equipment negatively. However, the rising government infrastructure spending underpinned by initiatives such as Saudi Vision 2030 and National Transformation Program coupled with rising FDI, and private sector investment would drive the construction equipment market in the Kingdom. The spread of the COVID-19 pandemic has resulted in a slowdown of the overall economy leading to a temporary halt in many construction projects across the region, thereby impacting the construction equipment market in Saudi Arabia, which is expected to regain momentum in the year 2021.

According to 6Wresearch, the Saudi Arabia Construction Equipment Market size is projected to grow at a CAGR of 4.2% in terms of revenues during 2021-2027. Growing economic growth coupled with increasing investment in the development of the construction sector is accelerating Saudi Arabia Construction Equipment Market Growth. The rising shift toward smart cities along with the partnership of private firms with government authorities is driving the development of the industry. 

Market by Types Analysis

On the basis of types, the mobile crane segment is expected to grow at a substantial rate over the coming years on account of widespread utility for moving containers, especially in the oil & gas industry. Earthmoving equipment has garnered the major market revenue share in Saudi Arabia’s construction equipment market owing to its prevalent usage in sectors such as mining, transportation, and commercial, where they are extensively used for excavating, lifting heavy weights, and laying railway tracks.

 Market by Applications Analysis

On the basis of applications, the construction application segment is expected to demonstrate significant growth over the coming years owing to a large number of upcoming infrastructure projects in the region such as NEOM city, the Red Sea project, and Diriya Gate project. Additionally, the rising hotel chains and entertainment areas on account of Saudi vision to boost the tourism sector have further escalated the demand for construction equipment in the country. Based on regions, the central region of Saudi Arabia is anticipated to register the fastest growth in the forecast period on the back of many upcoming infrastructure development projects in the region.

COVID-19 Impact on Saudi Arabia Construction Equipment Market

The construction equipment market in Saudi Arabia has bethe en declining over the last few years on account of the halting and cancellation of various projects in the wake of several factors such as the oil crisis. Further, with the outbreak of the COVID-19 pandemic in 2020, the construction sector witnessed another massive hit due to supply chain disruptions, delays, and lack of manforce, thus, negatively impacting the construction equipment market in the country in 2020.

Key Players in the Market

• Some of the key players in Saudi Arabia Construction Market are:
• Komatsu Ltd.
• Volvo Construction Equipment Corporation.
• Caterpillar Incorporation.
• Hitachi Construction Machinery Co. Ltd.
• Manitowoc Company Inc.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2017 to 2020.
• Base Year: 2020
• Forecast Data until 2027.
• Key Performance Indicators Impacting the Market.

Key Highlights of the Report

• Saudi Arabia Construction Equipment Market Overview
• Saudi Arabia Construction Equipment Market Outlook
• Saudi Arabia Construction Equipment Market Forecast
• Saudi Arabia Construction Equipment Market Share
• Saudi Arabia Construction Equipment Market Growth
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues for the Period 2017-2027F
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues, By Types for the Period 2017-2027F
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues, By Applications for the Period 2017-2027F
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues, By Regions for the Period 2017-2027F
• Market Drivers, Restraints
• Saudi Arabia Construction Equipment Market Trends
• Industry Life Cycle
• Saudi Arabia Construction Equipment Market – Porter’s Five Forces
• Saudi Arabia PESTEL Analysis
• Market Opportunity Assessment
• Company Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

• By Types

  • Mobile Crane
  • Bulldozer and Construction Tractor
  • Earthmoving Equipment
    • Loader
    • Excavator
    • Motor Grader
  • Material Handling Equipment
    • Telescopic Handler
    • Forklift
  • Dump Truck
  • Aerial Work Platform
    • Articulated Boom lift
    • Telescopic Boom lift
    • Scissor Lift
  • Road Construction Equipment
    • Paver
    • Road Roller

By Applications

• Oil & Gas
• Construction
• Mining
• Others (Municipality, Road Construction, etc.)

By Regions

• Eastern Region
• Western Region
• Central Region
• Southern Region

The Saudi Arabia Construction Equipment Market covers the market by types, applications, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.

Saudi Arabia Construction Equipment Market Synopsis

Saudi Arabia Construction Equipment Market has declined on account of low crude oil prices over the past few years. Fall in the prices of crude oil has led to several large-scale construction projects being halted or cancelled as a result of reduced government expenditure, thereby affecting the demand for construction equipment negatively. However, growth in the construction sector on account of increased infrastructure spending owing to Saudi Vision 2030 and National Transformation Program 2020 would drive the construction equipment market in the region over the coming years. The market has seen a substantial decline owing to the massive outbreak of COVID-19 as construction was halted to combat the spreads of the virus.

According to 6Wresearch, Saudi Arabia Construction Equipment Market size is projected to grow at CAGR of 2.6% during 2020-2026. Government plans to reduce the country’s dependence on oil-sector revenues and focus on developing and strengthening non-oil economy has led to widespread commercial and infrastructure development in the country, which include expansion of metros and airports, along with the construction of new hotels and shopping malls, which would boost the demand for construction equipment during the forecast period.

Market Analysis by Application

On the basis of Application, the construction sector has captured a decent market share in the overall market revenues in 2019 and is expected to demonstrate significant growth over the coming years owing to a large number of upcoming infrastructure projects in the region. Additionally, mobile cranes and earthmoving equipment would dominate the market revenue share due to their extensive use at construction sites for excavation and lifting heavyweights.

Market Analysis by Types

On the basis of types, the mobile crane segment has witnessed a substantial market share in the overall market revenues in 2019 and is expected to grow at a substantial rate over the coming years on account of widespread utility for moving the containers, especially in the oil & gas industry. Earth moving equipment has garnered the major market revenue share in Saudi Arabia’s construction equipment market owing to its prevalent usage in digging the earth in all the sectors such as mining, transportation and commercial, where they are extensively used for excavating, lifting heavy weights and laying railway tracks.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Saudi Arabia Construction Equipment Market Overview
• Saudi Arabia Construction Equipment Market Outlook
• Saudi Arabia Construction Equipment Market Forecast
• Historical Data of Saudi Arabia Construction Equipment Market Revenues and Volume for the Period 2016-2019
• Saudi Arabia Construction Equipment Market Size and Saudi Arabia Construction Equipment Market Forecast of Revenues and Volume, Until 2026
• Historical Data of Saudi Arabia Construction Equipment Market Revenues and Volume, by Equipment Type, for the Period 2016-2019
• Saudi Arabia Construction Equipment Market Size and Saudi Arabia Construction Equipment Market Forecast of Revenues and Volume, by Equipment Type, Until 2026F
• Historical Data of Saudi Arabia Construction Equipment Market Revenues and Volume, by Applications, for the Period 2016-2019
• Saudi Arabia Construction Equipment Market Size and Saudi Arabia Construction Equipment Market Forecast of Revenues and Volume, Applications, Until 2026F
• Historical Data of Saudi Arabia Construction Equipment Market Revenues and Volume, by Regions, for the Period 2016-2019
• Saudi Arabia Construction Equipment Market Size and Saudi Arabia Construction Equipment Market Forecast of Revenues and Volume, by Regions, Until 2026F
• Saudi Arabia Construction Equipment Market Drivers
• Saudi Arabia Construction Equipment Market Restraints
• Saudi Arabia Construction Equipment Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Saudi Arabia Construction Equipment Market Share, By Players
• Saudi Arabia Construction Equipment Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following Market segments:

• By Type
• Mobile Crane
• Construction Tractor and Bulldozer
• Earthmoving Equipment
• Loaders
• Excavators
• Motor Grader
• Aerial Work Equipment
• Articulated Boom Lifts
• Telescopic Boom Lifts
• Scissor Lifts
• Material Handling Equipment
• Telescopic Handlers
• Forklifts
• Dump Trucks
• Road Construction Equipment
• Pavers
• Road Rollers

• By Applications
• Construction
• Oil & Gas
• Mining
• Others (Municipality, Road Construction)

• By Regions
• Eastern
• Western
• Central
• Southern

Frequently Asked Questions About the Market Study:

• Does the report consider COVID-19 impact?
  The report not only has considered COVID-19 impact but also current Market dynamics, trends and KPIs into consideration.
  
  
• How much growth is expected in the Saudi Arabia Construction Equipment Market over the coming years?
  The Saudi Arabia Construction Equipment Market revenue is anticipated to record a CAGR of 2.6% during 2020-2026.
  
  
• Which segment has captured key share of the Market?
  Earth moving Equipment has dominated the overall Market revenues in the year 2020.
  
  
• Which segment is exhibited to gain traction over the forecast period?
  Construction sector is expected to record key growth throughout the forecast period 2020-2026.
  
  
• Who are key the key players of the Market?
  The key players of the Market include- Caterpillar Inc., Komatsu Middle East FZE [KME], Hitachi Construction Machinery Middle East Corporation FZE, Hyundai Construction Equipment Co., Ltd, Volvo Construction Equipment, Bamford Excavators Limited, Doosan Infracore Co., Ltd., Xuzhou Construction Machinery Group Co., Ltd., Tadano Ltd., Dynapac MEA FZE
  
  
• Is customization available in the Market study?
  Yes, we can do customization as per your requirements. Please feel free to write to us sales@6wresearch.com for any customized or any other requirements
  
  
• We also want to have Market reports for other countries/regions.
  6Wresearch has the database of more than 60 countries globally, which can make us your first choice of all your research needs.

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