Saudi Arabia Construction Equipment Market Size by Unit Sales to Reach Volumes of 47,278 Units by 2028 – Arizton

Subheading: In 2022, spike in FDI and development in the industrial sector as a result of major investments in mining and renewable energy projects will significantly contribute to the expansion of the construction equipment market.

The Saudi Arabia construction equipment market by volume is expected to grow at a CAGR of over 5.85% during the period 2022−2028.

Key Highlights Offered in the Report:
1. The construction equipment market in Saudi Arabia by revenue is estimated to reach USD 1,889.5 million by 2028.
2. In 2020, the construction industry was adversely impacted as major infrastructure projects were halted to curb COVID-19 outbreak. This primarily led to a decline of 22.1% in demand for new construction equipment in Saudi Arabia.
3. In 2021, the construction contractors benefitted through government support such as investment in construction projects (housing projects worth USD 613 million) which led to the resumption of construction activities supporting the demand for construction equipment.
4. Additionally, the initiative to make Saudi Arabia as a logistic hub is expected to provide new opportunities for construction equipment in infrastructure development.
5. By 2028, the material handling equipment segment in Saudi Arabia is estimated to rise at a CAGR of 7.45%. The government of Saudi Arabia had invested around USD 300 billion on new infrastructure in 2021, including massive new passenger rail networks and a new airport for Riyadh (USD 147 billion). In July 2021, Saudi Ports Authority had partnered with private sector to build eight new port terminals which are expected to surge demand for the material handling equipment industry over the long term.

Key Offerings:
• Market Size & Forecast by Volume | 2022−2028
• Market Size & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by type and application
• Competitive Landscape – 10 key vendors, 3 other prominent vendors, and 6 distributor profiles

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Saudi Arabia Construction Equipment Market – Segmentation

• Earthmoving equipment captured a major share of the overall Saudi Arabia construction equipment market due to their extensive use at construction sites for excavation and demolition and loading/unloading heavy weights. The growth in the transportation sector with the boost in government investment toward the highway, metro and airport construction projects are major drivers increasing the demand for earthmoving equipment in Saudi Arabia.
• Cranes are expected to dominate the machinery market, owing to numerous construction projects and increased demand for material handling. Transforming Saudi Arabia into a logistics hub is a major driving force for the crane market as they are mostly used at construction sites and ports.
• Increasing investments in the mining industry using new mining ventures (in 2021, 60 new industrial licenses have been issued by the government) the Saudi Arabia mining sector is poised for significant growth during the forecast period. Saudi Arabia continues to be a significant player in the global mining industry. Abundant and diverse range of over 48 minerals and metal resources have made Saudi Arabia the largest gold producer in the Middle East.

Saudi Arabia Construction Equipment Market by Type
• Earth Moving Equipment
o Excavator
o Backhoe Loaders
o Motor Graders
o Other Earth Moving Equipment
• Road Construction Equipment
o Asphalt Paver
o Road Rollers
• Material Handling Equipment
• Crane
• Forklift
• Telescopic Handlers
• Aerial Platforms (Articulated Boom Lifts, Telescopic Boom Lifts, Scissor Lifts, etc)
Saudi Arabia Construction Equipment Market by Application
• Construction
• Manufacturing
• Mining
• Others

Saudi Arabia Construction Equipment Market – Segmentation

Saudi Arabia Vision 2030’s housing agenda to drive the construction equipment market. In 2020, a slowly developing housing crisis emerged in Saudi Arabia as there is an increasing shortage of affordable housing. In 2020, Saudi Arabia witnessed 24% growth of real average housing prices while real average income only grew 8%. Housing prices grew far more rapidly compared with the average income. The decline in median household income has made it more challenging for Saudis to become a homeowner. A key pillar in Saudi Arabia’s Vision 2030 is the development of a thriving society. It is to increase the availability of affordable housing for its citizens. This translated into the objective of 70% Saudi home ownership by 2030 (Eskan Program). It requires that the existing housing supply grows with ~700k houses between 2020 and 2025 to achieve 65% Saudi home ownership, the 2025 target to stay on track for the 2030 ambition.

Key Drivers and Trends fueling Market Growth:
• Pollution concerns and labor shortages surge the demand for material handling equipment in Saudi Arabia’s prefabricated construction sector.
• Government projects to transform Saudi Arabia into a logistics hub will boost the demand for construction equipment.
• Shift toward green hydrogen fuel-based construction equipment in the renewable energy sector.
• Environmental policies and initiatives to increase the use of excavators and loaders in the waste management industry.

Why Should I Buy This Research?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

• Volume (Unit sales)
o Type
o Application
• Value (USD)
o Type
o Application
• Gain competitive intelligence about the economic scenario, advantages in Saudi Arabia countries major projects and investments, dynamics, and market share.
• Examples of the latest technologies.
• Get presentation-ready format and easy-to-interpret data.
• Enable decision-makers to make informed and profitable choices
• Gain expert quantitative and qualitative analysis on value/volume growth projections of the Saudi Arabia construction equipment market share.
• Complete supply chain analysis
• Get COVID-19 impact analysis of the market

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Major Vendors
• Caterpillar
• Volvo Construction Equipment
• Liebherr
• Komatsu
• XCMG Group
• Hitachi Construction Machinery Middle East Corporation FZE (HMEC)
• JCB Ltd
• SANY
• Kubota Corporation
• Zoomlion Heavy Industry Science & Technology Co. Ltd.

Other Prominent Vendors:
• Yanmar
• Manitou
• Kobelco Construction Machinery

Other Distributor Profiles:
• Kanoo Machinery
• Al-Futtaim Auto & Machinery Company
• Arabian Truck & Construction Equipment Co.
• Arabian Auto Agency
• Dayim Equipment Rental
• Al-Qahtani Vehicle & Machinery Company

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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