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The Saudi Arabia construction equipment market size attained a value of USD 1.46 billion in 2023. The market is further expected to grow at a CAGR of 4.3% between 2024 and 2032 to reach a value of almost USD 2.14 billion by 2032.
Construction equipment encompasses machinery, tools, and apparatus intended for utilisation in construction tasks. This category includes excavators, cranes, loaders, and dump trucks, among other devices, which carry out various construction functions such as excavation, digging, levelling, and hauling.
Saudi Arabia's Vision 2030 initiative is geared towards facilitating access to affordable housing for underserved communities. Consequently, the demand for construction equipment in Saudi Arabia is bolstered by a growing emphasis on improving the efficiency, productivity, and cost-effectiveness of residential construction endeavours. According to a sector analysis conducted by the Ministry of Municipal and Rural Affairs (MOMRA), 138,114 companies are operating within the construction sector which is boosting the construction equipment market in Saudi Arabia.
CATEGORY-WISE DISTRIBUTION OF COMPANIES IN CONSTRUCTION SECTOR
The Saudi Arabia construction equipment market growth is enhanced by infrastructure development, cutting-edge equipment and automated machinery, and rising investment in the mining sector.
December 2023
A Saudi construction firm granted a contract to Korean company HD Hyundai Construction Equipment for the supply of 100 excavators.
December 2023
The National Industrial Development Centre (NIDC) and LS Corp, a Korean firm, signed an MoU to explore machinery investment in Saudi Arabia.
September 2023
HD Hyundai Construction Equipment Co. received orders to supply products for Saudi Arabia's Neom megacity project.
August 2023
XCMG Machinery inaugurated its Saudi subsidiary in Riyadh, enhancing local sales, service networks, and integration into Saudi development.
Infrastructure development
Saudi Arabia's Vision 2030, including the National Transformation Program, aims to enhance infrastructure and foster a conducive environment for all sectors- public, private, and non-profit, elevating demand for construction equipment. In 2023, the nation ranked 34th in the infrastructure field in the Global Competitiveness Report.
Cutting-edge equipment and automated machinery
Advanced equipment and automated machinery, coupled with technologies such as the Internet of Things (IoT), are increasingly being embraced. These innovations enable real-time data collection, minimise downtime, cut operational expenses, and enhance construction efficiency, propelling the Saudi Arabia construction equipment market growth.
Rising investment in the mining sector
Heightened investment in the mining sector aims to excavate metals and minerals, projecting a sector GDP impact of USD 47 billion and the creation of 219,000 jobs. Additionally, it will develop remote regions, generating 40,000 jobs by 2030, according to the Ministry of Industry and Mineral Resource, consequently increasing the utilisation of construction equipment.
Technological advancement
Innovations such as telematics, automation, robotics, and advanced vision systems are poised to augment construction machinery capabilities and enhance operational efficiency, potentially driving demand for construction equipment in the forecast period.
Infrastructure development involves various commercial and residential projects such as constructing complexes, offices, and societies, alongside expanding airports, roads, and ports. This development is fuelled by rapid urbanisation, prompting increased government spending on infrastructure for dams, bridges, metro stations, and more. Such activities are vital for enhancing connectivity and fostering sustainable growth, consequently driving up demand for construction equipment.
Moreover, there has been significant growth in the tourism sector, marked by considerable infrastructure construction in Makkah, Madinah, Riyadh, and Jeddah to cater to the increasing influx of tourists, boosting the construction equipment market in Saudi Arabia.
Saudi Arabia Construction Equipment Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Machinery Type
Market Breakup by Propulsion Type
Market Breakup by End-Use
Material handling machinery holds a considerable portion of the Saudi Arabia construction equipment market share, driven by demand for cranes and other equipment for heavy lifting and material transport.
Forklifts facilitate the efficient storage, retrieval, and arrangement of goods, playing a vital role in transporting heavy construction materials and equipment. Telescopic handlers are utilised on construction sites to elevate heavy construction materials to higher floors or areas that are otherwise difficult to reach.
As per the Saudi Arabia construction equipment market analysis, earth-moving machinery, like dump trucks, finds wide application in heavy-duty tasks such as mining, quarrying, excavation, roadwork, and demolition. Excavators, popular in this category, boast components including a bucket, arm, rotating cab, and movable tracks, enabling diverse functions like trenching, hole digging, and waste removal.
Concrete and road construction machinery, like concrete mixers, pavers, and construction pumps, enhance processes traditionally reliant on manual labour.
Internal combustion engines (ICE) are predominant in the Saudi Arabia construction equipment market, primarily due to their high-power output and excellent mobility characteristics.
The integration of electric propulsion in construction equipment contributes to sustainability efforts, offering enhanced manoeuvrability and increased redundancy. Additionally, it delivers environmental advantages by reducing fuel consumption and emissions.
LNG serves as a cost-effective and environmentally sustainable alternative to oil-based systems for businesses prioritizing cost efficiency and sustainability.
Construction and infrastructure sectors lead the developments in the Saudi Arabia construction equipment market, driven by the objectives outlined in the Vision 2023 initiative of the kingdom.
As per the Ministry of Transportation, 71,500 kilometres of roads currently exists in Saudi Arabia, that are designed to meet international standards, linking major cities, and allowing for potential expansion to accommodate anticipated heavy traffic.
DEVELOPING ROADS IN SAUDI ARABIA, 2023, IN KM
The competitiveness in Saudi Arabia construction equipment market arises from growing tourism, technological advancement, infrastructure development, and the growing oil and gas sector.
AB Volvo was established in 1927 and headquartered in Gothenburg, Sweden, and is a multinational producer of construction machinery. Additionally, the company manufactures a variety of vehicles, including buses, trucks, as well as industrial and marine engines, among other products.
Caterpillar Inc. was founded in 1925 and is a construction equipment corporation headquartered in Texas, USA. The company’s range of offerings encompasses engines, excavators, dozers, backhoe loaders, generators, and various other products.
Sumitomo Construction Machinery Co. Ltd. Was established in 1968 and is headquartered in China. The company specializes in the development and production of hydraulic excavators, road paving machines, and road rollers.
Other key players in the Saudi Arabia construction equipment market report include CNH Industrial N.V., Komatsu Middle East, Doosan Corporation, Manitowoc Company Inc., Kobelco Construction Machinery Co, Ltd, and Xuzhou Construction Machinery Group Co., Ltd., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
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 Middle East and Africa Construction Equipment Market Overview
8.1 Key Industry Highlights
8.2 Middle East and Africa Construction Equipment Historical Market (2018-2023)
8.3 Middle East and Africa Construction Equipment Market Forecast (2024-2032)
8.4 Middle East and Africa Construction Equipment Market Share by Country
8.4.1 Saudi Arabia
8.4.2 United Arab Emirates
8.4.3 Nigeria
8.4.4 South Africa
9 Saudi Arabia Construction Equipment Market Overview
9.1 Key Industry Highlights
9.2 Saudi Arabia Construction Equipment Historical Market (2018-2023)
9.3 Saudi Arabia Construction Equipment Market Forecast (2024-2032)
10 Saudi Arabia Construction Equipment Market by Machinery Type
10.1 Earth Moving Machinery
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
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 (2018-2023)
10.2.2 Forecast Trend (2024-2032)
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 (2018-2023)
10.3.2 Forecast Trend (2024-2032)
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 (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Electric
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 CNG/LNG
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Saudi Arabia Construction Equipment Market by End-Use
12.1 Oil and Gas
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Construction and Infrastructure
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Manufacturing
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Mining
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
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 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 AB Volvo
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Hitachi Construction Machinery Co., Ltd.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Sumitomo Construction Machinery Co., Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Caterpillar Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 CNH Industrial N.V.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Komatsu Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 Doosan Corporation
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Manitowoc Company Inc.
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Kobelco Construction Machinery Co., Ltd
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Construction Equipment Market: Key Industry Highlights, 2018 and 2032
2. Saudi Arabia Construction Equipment Market: Key Industry Highlights, 2018 and 2032
3. Saudi Arabia Construction Equipment Historical Market: Breakup by Machinery Type (USD Billion), 2018-2023
4. Saudi Arabia Construction Equipment Market Forecast: Breakup by Machinery Type (USD Billion), 2024-2032
5. Saudi Arabia Construction Equipment Historical Market: Breakup Propulsion Type (USD Billion), 2018-2023
6. Saudi Arabia Construction Equipment Market Forecast: Breakup by Propulsion Type (USD Billion), 2024-2032
7. Saudi Arabia Construction Equipment Historical Market: Breakup by End-Use (USD Billion), 2018-2023
8. Saudi Arabia Construction Equipment Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
9. Saudi Arabia Construction Equipment Market Structure
The construction equipment market is projected to grow at a CAGR of 4.3% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 2.14 billion in 2032.
The key factors driving the market are infrastructure development, rising investment in the mining sector, and technological advancements.
Based on the machinery the market is bifurcated into earth-moving machinery, material handling machinery, and concrete and road construction machinery.
Based on propulsion the construction equipment market it is bifurcated into ICE, electric, and CNG/LNG.
Based on end-use, the market it is divided into oil and gas, construction and infrastructure, manufacturing, and mining, among others.
Key players in the market are AB Volvo, Hitachi Construction Machinery Middle East Corporation, Caterpillar Inc., Sumitomo Construction Machinery Co., Ltd., CNH Industrial N.V., Komatsu Middle East, Doosan Corporation, Manitowoc Company Inc., Kobelco Construction Machinery Co., Ltd among others.
Construction equipment serves an essential role in the construction industry due to its ability to deliver the required power, speed, and accuracy, enabling the completion of intricate tasks safely and efficiently.
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