Saudi Arabia Construction Equipment Industry Report 2023-2029: Tourism, Rapid Urbanization and Growing Population Bolstering Demand and Growth - ResearchAndMarkets.com

The "Saudi Arabia Construction Equipment Market (2023-2029) Size, Share, Growth, Trends, Forecast, Revenue, Industry, Outlook & COVID-19 Impact: Market Forecast by Type, Size, End Use, Region and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.

The research points to a robust Compound Annual Growth Rate (CAGR) of 6.4% over the forecast period, driven by factors such as burgeoning population, rapid urbanization, and a significant rise in tourist arrivals. These elements are fostering a conducive environment for market growth as the Kingdom diversifies its economy beyond oil and gas revenues, leaning into sectors such as tourism and mineral resource exploration.

The market, which has been on a moderate growth trajectory owing to governmental investments in infrastructure development, saw a temporary slowdown due to the COVID-19 pandemic. Nonetheless, the outlook remains positive as strategic initiatives—such as the Saudi Vision 2030—and increasing foreign direct investment are projected to fuel a resurgence in demand for construction equipment within the region.

Key Sector Insights:

• Earthmoving equipment is anticipated to dominate the market, largely due to its extensive application in ongoing infrastructure projects and mining operations.
• Construction equipment with 16-50 ton capacity are projected to see a heightened demand, reflecting their efficacy and versatility in various project scales.
• The oil and gas sector, alongside traditional construction, is expected to command significant market share, continuing to be pivotal in generating demand for construction equipment.
• Geographically, the Eastern region of Saudi Arabia is set to lead the demand for construction equipment, attributed to the abundance of oil fields and the subsequent need for such machinery.

Market Dynamics Examined:

The extensive market analysis incorporates a detailed examination of market drivers, restraints, as well as emerging trends affecting the industry landscape. Furthermore, the report provides deep insights into the industry life cycle, competition benchmarking, and provides strategic recommendations for current and potential market participants.

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 and Forecast of Saudi Arabia Construction Equipment Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues, by Types for the Period 2019-2029F
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues, by Applications for the Period 2019-2029F
• Historical Data and Forecast of Saudi Arabia Construction Equipment Market Revenues, by Regions for the Period 2019-2029F
• Market Drivers and Restraints
• Market Trends
• Industry Life Cycle
• Saudi Arabia Construction Equipment Market - Porter's Five Forces
• Market Opportunity Assessment
• Company Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations
• Mapping of Key Chinese Players by Models

Company Profiles

• Caterpillar Inc.
• HD Hyundai Infracore Co. Ltd.
• Hitachi Construction Machinery Co. Ltd.
• Komatsu Ltd.
• Sany Heavy Industry Co. Ltd.
• Volvo Construction Equipment
• Xuzhou Construction Machinery Group Co. Ltd.
• Zoomlion International Trading Company

Market Scope and Segmentation

By Type

• Mobile Crane
• Tracked Dozer
• Earthmoving Equipment
• Material Handling Equipment
• Dump Truck
• Aerial Equipment
• Concrete Mixer Trucks
• Road Construction Equipment

By Size

• Below 15 Ton
• 16 - 50 Ton
• 51 - 80 Ton
• Above 80 Ton

By End Use

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

By Region

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

For more information about this report visit https://www.researchandmarkets.com/r/anvpky

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