This region-based industry research report presents a comprehensive analysis of the key market drivers, challenges, and upcoming trends that influence growth. It also segments the earthmoving equipment market in Saudi Arabia by type (excavator, construction tractor, and loader). The key players analyzed in this market report are Caterpillar, JCB, Komatsu, and Volvo.
Technavio has released a new market research report on the earth moving equipment in Saudi Arabia, which is expected to grow at a CAGR of around 11% between 2016 and 2020. Increase in the number of construction projects in Saudi Arabia, especially public infrastructure and residential, have boosted the growth of earthmoving equipment market. The government is also making huge investments in the infrastructure projects such as roads and railways, which has increased construction activities in the region. Construction excavators, tractors, and loaders comporise the earthmoving equipment market.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“One important trend gaining traction in this market is the rising demand for energy-efficient equipment. Construction companies in Saudi Arabia are focusing extensively on sustainable development practices like green building construction. To construct such buildings, construction companies have to minimize the emissions and pollution throughout the project lifecycle, which in turn will augment the need for energy-efficient equipment. This increase in the demand for energy-efficient equipment will compel manufacturers to develop energy-efficient and technologically advanced earthmoving equipment,” says Soumya Mutsuddi, Lead Analyst, Heavy Industry, Technavio Research
The loader product type segment is expected to account for an impressive market share of more than 60% by 2020. Since the demand for loaders is directly proportional to the growth in construction activities, any increase in this region’s construction activities will result in the high demand for loaders. Additionally, the ability of loaders to remove debris and other obstructions that hinder work efficiency will result in its increased adoption over the next few years.
The leading vendors in the earth moving equipment in Saudi Arabia include Caterpillar, JCB, Komatsu, and Volvo. This market has a high growth potential and is very competitive due to the presence of many large vendors. Rising investments in infrastructure and the encouragement and participation of the government for the development of the transportation and infrastructure projects are bolstering demand for earthmoving equipment.
A more detailed analysis is available in the Technavio report, Earth Moving Equipment in Saudi Arabia 2016-2020.
We can customize reports by other regions and specific segments upon request.
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