London, 10 February 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Earthmoving Equipment Market in Saudi Arabia 2015-2019, which is expected to grow at a CAGR of 12.24 percent during the forecast period of 2014-2019.
“Given the uncertainty surrounding the Construction market, firms are hesitating to invest in new equipment which has resulted in manufacturers promoting their equipment through rentals,” says Faisal Ghaus, Vice President of TechNavio.
“The lease period is often less than the average lifetime of the equipment. This allows construction companies the use of high-cost earthmoving equipment without major monetary investments and contributes to the profits of earthmoving equipment manufacturers.”
Key Market Drivers
- Sustained Growth of Construction Industry
- Need to Replace Dated Earthmoving Equipment
- Growth of Tourism Industry\
Key Market Trends
- Growth in Equipment Rental Business
- Rise in Demand for Energy-efficient Equipment
- Availability of Attractive Financing Options
Key Market Vendors
- Caterpillar Inc.
- J.C. Bamford Excavators Ltd. (JCB)
- Komatsu Ltd.
- Volvo AB
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
