Saud Arabia Construction Equipment Market Size (2024 - 2029)

The Saudi Arabia construction equipment market is projected to experience growth over the forecast period, driven by the expansion of the construction sector, which has shown resilience despite challenges such as the COVID-19 pandemic and global economic slowdowns. The government's ambitious housing initiatives, including the ESKAN project, and the development of large hotel projects to support the tourism sector are key factors contributing to the increasing demand for construction machinery. These developments, alongside the country's status as a rapidly growing nation in the GCC region, underscore the positive trajectory of the market size in the coming years.

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Market Size of Saud Arabia Construction Equipment Industry

RD Saudi CAGR.png
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 1.40 Billion
Market Size (2029) USD 1.71 Billion
CAGR (2024 - 2029) 4.13 %

Major Players

Saud Arabia Construction Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Saudi Arabia Construction Equipment Market Analysis

The Saud Arabia Construction Equipment Market size is estimated at USD 1.40 billion in 2024, and is expected to reach USD 1.71 billion by 2029, growing at a CAGR of 4.13% during the forecast period (2024-2029).

  • The construction sector experienced a strong rebound in 2019. However, the outbreak of COVID-29has affected the growth of the construction sector negatively. As the construction sector is labor intensive, it requires a significant number of laborers. Currently, the prevention of the spread of COVID-19 is of paramount concern. This concern, along with the global economic slowdown, has led to a decline in the demand for construction machinery.
  • Under the ministry of housing's ESKAN project, the government has planned to build 500,000 units of housing. Additionally, the government has also allocated a budget for the construction of 1,500,000 units of houses for the next five years.
  • The tourism sector also witnessed significant growth in the last few years. The country has also taken up large hotel projects to accommodate the increasing number of tourists to Makkah, Madinah, Riyadh, and Jeddah.
  • Saudi Arabia is one of the fastest-growing nations in the GCC region. The low and middle-income groups of people in the country and the government's significant efforts in constructing new residential buildings are the factors driving the demand for construction machinery market.

Saudi Arabia Construction Equipment Industry Segmentation

The Saudia Arabia Construction Equipment Market covers current and upcoming trends with recent technology developments. The report will provide detailed analysis on various areas of the market by machinery type and by sector. The market share of significant construction equipment across the Saudi Arabian market will be provided in the report.

By Machinery Type
Cranes
Earthmoving Equipment
Motor Grader
Excavator
Loaders (includes Wheel Loaders, Backhoe Loaders, and Skid Steer Loaders)
Material Handling Equipment
Telescopic Handlers
Forklifts
Bulldozers
Dump Trucks
Aerial Work Platform
By Sector Type
Building (Residential, Commercial, Mixed Use, Airports, and Sports Facilities)
Infrastructure (Roads, Bridges, Railways, Ports, Wastewater, and Sewerage)
Energy (Oil and Gas and Power and Water)
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Saud Arabia Construction Equipment Market Size Summary

The Saudi Arabia construction equipment market is poised for growth, driven by the country's ambitious Vision 2030 initiative and significant investments in infrastructure and housing projects. The market is characterized by a competitive landscape with numerous international players, including Komatsu, Volvo, and Caterpillar, who dominate the market share. The government's focus on non-oil sector revenues has led to the initiation of mega projects like Neom, Qiddiya, and the Red Sea Project, which are expected to boost the demand for construction machinery. The construction sector's recovery post-COVID-19 is anticipated to further stimulate the market, with a particular emphasis on tower and crawler cranes due to ongoing urban redevelopment and infrastructure projects.

The demand for construction equipment is also supported by the government's housing initiatives, such as the Sakani program, which aims to provide a substantial number of residential units across the Kingdom. This program, along with the ESKAN project, underscores the government's commitment to addressing housing shortages and increasing home ownership among Saudi nationals. The tourism sector's growth, particularly in cities like Makkah, Madinah, Riyadh, and Jeddah, has led to large-scale hotel projects, further driving the need for construction machinery. As the market evolves, the integration of innovative technologies and high-performance equipment is expected to enhance competitiveness and meet the rising demand for efficient and safe construction solutions.

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Saud Arabia Construction Equipment Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Machinery Type

      1. 2.1.1 Cranes

      2. 2.1.2 Earthmoving Equipment

        1. 2.1.2.1 Motor Grader

        2. 2.1.2.2 Excavator

        3. 2.1.2.3 Loaders (includes Wheel Loaders, Backhoe Loaders, and Skid Steer Loaders)

      3. 2.1.3 Material Handling Equipment

        1. 2.1.3.1 Telescopic Handlers

        2. 2.1.3.2 Forklifts

      4. 2.1.4 Bulldozers

      5. 2.1.5 Dump Trucks

      6. 2.1.6 Aerial Work Platform

    2. 2.2 By Sector Type

      1. 2.2.1 Building (Residential, Commercial, Mixed Use, Airports, and Sports Facilities)

      2. 2.2.2 Infrastructure (Roads, Bridges, Railways, Ports, Wastewater, and Sewerage)

      3. 2.2.3 Energy (Oil and Gas and Power and Water)

Saud Arabia Construction Equipment Market Size FAQs

The Saud Arabia Construction Equipment Market size is expected to reach USD 1.40 billion in 2024 and grow at a CAGR of 4.13% to reach USD 1.71 billion by 2029.

In 2024, the Saud Arabia Construction Equipment Market size is expected to reach USD 1.40 billion.

Saudi Arabia Construction Equipment Market Report Snapshots

Saudi Arabia Construction Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)