Saudi Arabia Construction Equipment Market to Grow at A CAGR of 5.47% during 2022-2029, Boom in Mining Activities Leveraging the Market Demand – Arizton

Arizton publishes the latest research report on the Saudi Arabia construction equipment market. The reports provide detailed information on industry trends, drivers, opportunities, competitive outlook, market size, sales, and growth forecast for 2023-2029.  

The sale of Saudi Arabia construction equipment market to reach 48,717 units by 2029, growing at a CAGR of 5.47% during the forecast period. The shift toward green hydrogen fuel-based to meet net-zero emission targets, extensive use of hydraulic crawler excavators, and construction of tall tower triggering tower cranes demand are key trends in the market.  

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Extensive Application of Hydraulic Crawler Excavators in Saudi Arabia 

In December 2022, Kanoo Machinery received an order of 10 XCMG XE490D excavators in Saudi Arabia. These hydraulic excavators will be delivered in the Tabuk region, which will help the country in its NEOM project. In May 2022, Hyundai Doosan Infracore earned orders for 75 mid to large excavators from Saudi Arabia. These machines would be used at the construction site of Neom City in Saudi Arabia. The Saudi Arabia government is taking measures to reduce the waste damped in landfills and seas. It has initiated several waste management projects to reduce solid waste generation and promote recycling.  

In September 2021, the government announced that manufacturers should ensure financial sustainability in the waste management sector. The usage of construction equipment such as loaders and excavators is observed to increase in the waste management industry, which includes removing waste from construction sites, landfills, and seas. Therefore, construction equipment companies have started to receive orders for excavators. For instance, in June 2021, Hyundai Doosan Infracore received an order for 10 large 50-ton excavators from a construction company in Saudi Arabia.  

The Earthmoving Segment Was the Largest in Saudi Arabia Construction Equipment Market 

The construction equipment market in Saudi Arabia witnessed significant growth in 2022, with the earthmoving segment emerging as the largest segment. This equipment is predominantly used in construction, mining, and power generation industries. 

Anticipating a surge in infrastructure investments, the demand for construction equipment is projected to experience a substantial boost in 2023. Government data reveals that real estate and infrastructure projects in Saudi Arabia have surpassed $1.1 trillion since the launch of the National Transformation Plan 2030 in 2016. 

Consequently, the increased investment in infrastructure projects is expected to support the construction industry in Saudi Arabia throughout the forecast period. 

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Vendor Landscape 

• Prominent vendors in the Saudi Arabia construction equipment market are Caterpillar, Volvo Construction Equipment, Liebherr, Komatsu, Hitachi Construction Machinery, Kobelco, CNH Industrials, JCB, XCMG, and SANY. 
• Other prominent vendors are Hyundai Doosan Infracore, Yanmar, Manitou, Kubota, & Zoomlion. 
• Caterpillar, Volvo Construction Equipment, Liebherr, Hitachi Construction Machinery & Komatsu are the market leaders in the region. They have a strong market share, and these vendors offer various products in the Saudi Arabia construction equipment market. 
• In Dec 2022, Kanoo Machinery contracted for ten XCMG XE490D excavators in Saudi Arabia to cater to growing infrastructure projects' needs. 
• Manitou, Zoomlion, & Kubota are niche players in the Saudi Arabia construction equipment market and offer limited products. 

Key Vendors 

• Caterpillar 
• Komatsu 
• Xuzhou Construction Machinery Group Co. Ltd. (XCMG) 
• Liebherr 
• Volvo Construction Equipment  
• Hitachi Construction Machinery 
• JCB 
• SANY 
• CNH Industrial 
• Kobelco 

Other Prominent Vendors 

• Yanmar 
• Manitou 
• Kubota 
• Zoomlion Heavy Industry Science & Technology Co., Ltd. 
• Hyundai Doosan Infracore 

Distributor Profiles 

• Kanoo Machinery 
• Al-Futtaim Auto & Machinery Company 
• Arabian Truck & Construction Equipment Co. 
• Arabian Auto Agency 
• Al-Qahtani Vehicle & Machinery Company 

Key Questioned Answered in the Report:      

• How big is the Saudi Arabia construction equipment market? 
• What is the growth rate of the Saudi Arabia construction equipment market? 
• Who are the key players in the Saudi Arabia construction equipment market? 
• What are the trends in the Saudi Arabia construction equipment market? 
• Which are the major distributor companies in the Saudi Arabia construction equipment market? 

Market Segmentation 

• Earthmoving Equipment: Excavator, Backhoe Loaders, Motor Graders, Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers) 
• Road Construction Equipment: Road Rollers and Asphalt Pavers 
• Material Handling Equipment: Crane, Forklift & Telescopic Handlers, and Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts) 
• Other Construction Equipment: Dumper, Tipper, Concrete Mixture, and Concrete Pump Truck 
• End Users: Construction, Mining, Manufacturing, and Others 

Get Detailed TOC Now: https://www.arizton.com/market-reports/saudi-arabia-construction-equipment-market?details=tableOfContents 

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