Growing Construction and Infrastructure Development Activities Driving the Market for Earth Moving Equipment in Saudi Arabia; Market to Grow at a CAGR of 9.2% DURING 2015-21 – 6Wresearch
Saudi Arabia is the major revenue contributing country in GCC earth moving equipment market. Growing civil construction market, mining industry and coupled with rise in spending on construction of public infrastructures have boosted Saudi Arabia’s Earthmoving Equipment market. Further, with the growing demand and increasing competition, earth moving equipment market in the country is expected to gain momentum.
According to 6wresearch, Saudi Arabia Earthmoving Equipment market is projected to grow at a CAGR of 9.2% during 2015-21. In Saudi Arabia Earthmoving Equipments market, Loaders have prominently fueled the growth of the overall market followed by construction tractors and excavators. In the forecast period, construction tractors market share is anticipated to marginally decline owing to the demand for excavators. Domestic manufacturing and joint ventures of international players with domestic players would increase the completion, thus would lead to fall in prices of these heavy equipment.
Amongst all the applications, construction segments captures major share of market pie in the country. Growth in construction activities in the areas such as housing, retail, industrial, public infrastructures and business parks have spurred the demand for earth moving equipment market.
Western region leads the market followed by the central region. Western region is one of the key regions where major construction activities are being witnessed in the country. Cities such as Meccah and Madinah are contributing for western region growth.
“Saudi Arabia Earthmoving Equipment Market (2015–2021)”provides in-depth analysis with 70 figures and 22 tables covered in 129 pages. The report estimates and forecast overall Saudi Arabia Earthmoving Equipment market by revenue & volume, by earthmoving equipment types- excavators, loaders, and construction tractors, applications- agriculture, construction industry and mining industry and regions- Southern region, Eastern region, Western region and Central region. The report also gives the insights on competitive landscape, market share by companies, price trends, company profiles, market drivers and restraints.
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