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Saudi Arabia Construction Equipment Market Size, Share, Trends, Forecast: By Machinery Type: Earth Moving Machinery, Material Handling Machinery, Concrete and Road Construction Machinery; By Propulsion Type: ICE, Electric, CNG/LNG; By End-Use: Oil and Gas, Construction and Infrastructure, Others; Competitive Landscape; 2023-2028
Saudi Arabia Construction Equipment Market Outlook
The Saudi Arabia construction equipment market size attained approximately USD 1.4 billion in 2022. The market is estimated to grow at a CAGR of 4.40% in the forecast period of 2023-2028, reaching a value of around USD 1.8 billion by 2028.
Key Trends in the Market
Construction equipment refers to equipment, machinery, and tools that are designed for use in construction activities. These machinery include excavators, cranes, loaders, and dump trucks, among others, that perform excavation, digging, dozing, grading, hauling and, levelling, among other construction activities.
- Saudi Arabia’s Vision 2030 initiative aims to provide affordable housing for the vulnerable population. Hence, the Saudi Arabia construction equipment market demand is being aided by the increasing focus on enhancing the productivity, efficiency, and cost-effectiveness of residential construction activities.
- There is an increasing adoption of advanced equipment and automated machinery integrated with technologies like the Internet of things (IoT). Such equipment can facilitate real-time collection of data and reduce downtime and operational costs while streamlining construction activities.
- One of the major Saudi Arabia construction equipment market trends include increased investment into the mining sector for the excavation of metals and minerals that can contribute to the growth of the country’s economy. This is expected to boost the utilisation of construction equipment like dozers, loaders, and excavators, among others.
- Technologies like telematics, automation, robotics, and advanced vision systems, among others, aimed at enhancing the functionality of construction machinery and improving the efficiency of construction operations are likely to fuel the Saudi Arabia construction equipment market demand in the forecast period.
Market Analysis
Based on machinery type, the market is classified into earth moving machinery, material handling machinery, and concrete and road construction machinery. On the basis of propulsion type, the Saudi Arabia construction equipment market segmentation includes ICE, electric, and CNG/LNG. Based on end-use, the market is classified into oil and gas, construction and infrastructure, manufacturing, and mining, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia construction equipment market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- AB Volvo
- Hitachi Construction Machinery Co. Ltd
- Sumitomo Construction Machinery Co., Ltd.
- Caterpillar Inc.
- CNH Industrial N.V.
- Komatsu Ltd.
- Doosan Corporation
- Manitowoc Company Inc.
- Kobelco Construction Machinery Group
- Xuzhou Construction Machinery Group Co., Ltd.
- Others
Market Share by Machinery Type
Material handling machinery occupies a significant portion of the Saudi Arabia construction equipment market share owing to the high demand for cranes and other types of machinery for lifting and transporting heavy loads and construction materials. Tower cranes are widely utilised during the construction of airports and metros and remodelling of cities.
Crawler cranes are in high demand in the oil and gas sector and energy projects for lifting heavy loads. Additionally, some crane manufacturers are expanding their facilities in the country to strengthen their position and meet the growing demand for material handling machinery.
Market Share by End-Use
As per the Saudi Arabia construction equipment market analysis, the construction and infrastructure sector accounts for a substantial share of the market due to the rise in construction and infrastructural activities in the country. Under Vision 2030, the country is foreseeing several projects such as Al Ula Heritage, green Riyadh, King Salman Energy Park and Roshn, among others, aimed at boosting infrastructural developments. Additionally, the growing deployment of advanced equipment in the construction sector to improve operational efficiency also provides a positive market outlook.
Competitive Landscape
AB Volvo, founded in 1927 and based in Gothenburg, Sweden, is a multinational manufacturer of construction equipment. The company also manufactures buses, trucks, industrial engines, and marine engines, among others.
Hitachi Construction Machinery Co. Ltd is a construction equipment manufacturer founded in 1965 and headquartered in Tokyo, Japan. Some of its popular products include mini excavators, mini loaders, hydraulic excavators, and rigid dump trucks, among others.
Caterpillar Inc, established in 1925, is a construction equipment company with headquarters in Texas, the United States. Its product catalogue includes engines, excavators, dozers, backhoe loaders, and generators, among others.
Other Saudi Arabia construction equipment market players include Sumitomo Construction Machinery Co., Ltd., CNH Industrial N.V., Komatsu Ltd., Doosan Corporation, Manitowoc Company Inc., Kobelco Construction Machinery Group, and Xuzhou Construction Machinery Group Co., Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Machinery Type |
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| Breakup by Propulsion Type |
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| Breakup by End-Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Construction Equipment Market Overview
8.1 Key Industry Highlights
8.2 Global Construction Equipment Historical Market (2018-2022)
8.3 Global Construction Equipment Market Forecast (2023-2028)
8.4 Global Construction Equipment Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Saudi Arabia Construction Equipment Market Analysis
9.1 Key Industry Highlights
9.2 Saudi Arabia Construction Equipment Historical Market (2018-2022)
9.3 Saudi Arabia Construction Equipment Market Forecast (2023-2028)
10 Saudi Arabia Construction Equipment Market by Machinery Type
10.1 Earth Moving Machinery
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.1.3 Breakup by Type
10.1.3.1 Excavators
10.1.3.2 Loaders
10.1.3.3 Dump Trucks
10.1.3.4 Moto Graders
10.1.3.5 Dozers
10.2 Material Handling Machinery
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.2.3 Breakup by Type
10.2.3.1 Cranes
10.2.3.2 Forklifts
10.2.3.3 Telescopic Handlers
10.3 Concrete and Road Construction Machinery
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.3.3 Breakup by Type
10.3.3.1 Concrete Mixer and Pavers
10.3.3.2 Construction Pumps
10.3.3.3 Others
11 Saudi Arabia Construction Equipment Market by Propulsion Type
11.1 ICE
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Electric
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 CNG/LNG
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
12 Saudi Arabia Construction Equipment Market by End-Use
12.1 Oil and Gas
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Construction and Infrastructure
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Manufacturing
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Mining
12.4.1 Historical Trend (2018-2022)
12.4.2 Forecast Trend (2023-2028)
12.5 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Trade Data Analysis
14.1 Major Importing Countries
14.1.1 By Volume
14.1.2 By Value
14.2 Major Exporting Countries
14.2.1 By Volume
14.2.2 By Value
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 AB Volvo
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Hitachi Construction Machinery Co. Ltd
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Sumitomo Construction Machinery Co., Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Caterpillar Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 CNH Industrial N.V.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Komatsu Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Doosan Corporation
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Manitowoc Company Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Kobelco Construction Machinery Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Xuzhou Construction Machinery Group Co., Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Construction Equipment Market: Key Industry Highlights, 2018 and 2028
2. Saudi Arabia Construction Equipment Market: Key Industry Highlights, 2018 and 2028
3. Saudi Arabia Construction Equipment Historical Market: Breakup by Machinery Type (USD Billion), 2018-2022
4. Saudi Arabia Construction Equipment Market Forecast: Breakup by Machinery Type (USD Billion), 2023-2028
5. Saudi Arabia Construction Equipment Historical Market: Breakup Propulsion Type (USD Billion), 2018-2022
6. Saudi Arabia Construction Equipment Market Forecast: Breakup by Propulsion Type (USD Billion), 2023-2028
7. Saudi Arabia Construction Equipment Historical Market: Breakup by End-Use (USD Billion), 2018-2022
8. Saudi Arabia Construction Equipment Market Forecast: Breakup by End-Use (USD Billion), 2023-2028
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Saudi Arabia Construction Equipment Market Structure
Key Questions Answered in the Report
In 2022, the market reached an approximate value of USD 1.4 billion.
The market is assessed to grow at a CAGR of 4.40% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028, reaching a value of around USD 1.8 billion by 2028.
The major market drivers are flourishing construction sector due to rise in demand for residential buildings and hotels and increased investment by the government in construction projects such as airports, highways, and metros.
The key trends of the market include the growing adoption of advanced equipment, growing investments in the mining sector for the excavation of valuable minerals and metals, technological advancements and innovations.
The different machinery types considered in the market report are earth moving machinery, material handling machinery, and concrete and road construction machinery.
Various end-uses of construction equipment are oil and gas, construction and infrastructure, manufacturing, and mining, among others.
The key players in the market are AB Volvo, Hitachi Construction Machinery Co. Ltd, Sumitomo Construction Machinery Co., Ltd., Caterpillar Inc., CNH Industrial N.V., Komatsu Ltd., Doosan Corporation, Manitowoc Company Inc., Kobelco Construction Machinery Group, and Xuzhou Construction Machinery Group Co., Ltd., among others.
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