Saudi Arabia Construction Equipment Market revenues is projected to grow at a CAGR of 6.4% during 2023-2029

By types, earth moving equipment registered the highest revenue share in Saudi Arabia Construction Equipment Market – 6Wresearch

Earth moving equipment dominated the industry and it would occupy the majority share and witness accelerated growth in the market as they are widely used for several construction activity and they are also essential in construction projects, performing tasks like excavation, grading, leveling, and transporting materials. They can be adapted for various projects, ensuring consistent demand across different sectors of the construction industry.

According to 6Wresearch, Saudi Arabia Construction Equipment market revenues is projected to grow at a CAGR of 6.4% during 2023-2029. A variety of large-scale, intricate, and multipurpose constructions are being built in Saudi Arabia with the intention of transforming the country's economy, as part of the public investment fund's (PIF) Vision 2030. This is to lessen the kingdom's dependency on oil by diversifying the economy. In February 2023, Saudi Arabia announced ‘The Mukaab’ new ambitious project to build giant cube-shaped super tall skyscraper in the country’s capital. By 2030, Riyadh will have the largest downtown in the world. Mukaab, spanning 19 square kilometres, which includes more than 104,000 residential units, 9,000 hotel rooms, more than 980,000 square metres of retail space, 1.4 million square metres of office space. As part of the vision 2030 project, more than 555,000 residential units, more than 275,000 hotel keys, more than 4.3 million square metres of new retail space, and more than 6.1 million square metres of additional office space are anticipated by 2030. The planned construction in the Kingdom will make Saudi Arabia the largest construction site.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, by region, Eastern and Western region hold the largest market share as eastern region locates the major oil fields and western region is witnessing major construction projects like Neom, Red Sea project, etc.

The Saudi Arabia Construction Equipment Market (2023-2029) report provides an in-depth analysis with 29 figures and 18 tables, covered in 93 pages. The report comprehensively covers the market by types, size, end use, and regions. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.