DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Forklift Rental Market By Forklift Type (1 - 3.5 Tons, 3.5 - 7 Tons, 7- 10 Tons & Above 10 Tons), By Fuel Type (Diesel, Electric & Petrol/LPG), By Rental Period, Competition Forecast & Opportunities, 2015-2022" report has been added to Research and Markets' offering.
The forklift rental market in Saudi Arabia is projected to cross $18 million by 2022
Saudi Arabia government is focusing on economic diversification to reduce the country's dependence on oil sector. The country aims at increasing the contribution of non-oil exports in its non-oil GDP from 16% in 2015 to 50% by 2030. Consequently, the government is announcing various initiatives directed towards development of non-oil sectors in the country. This is expected to positively impact the country's forklift rental market over the next five years. Continuously rising demand for warehousing is expected to emerge as the most critical factor boosting forklift rental services market in the country through 2022.
Few of the major forklift rental players operating in Saudi Arabia include Zahid Tractor, Al Iman, Kanoo Machinery, Peax Equipment, Byrne Rental and Al Faris.
Increasing availability of forklifts on rent, rising number of greenfield and brownfield projects in the country, coupled with surging forklift demand from warehouses and ports is expected to boost forklift rental market in Saudi Arabia in the coming years.
In 2016, Saudi Arabia forklift rental market was dominated by 1-3.5 ton forklift segment, with these forklifts being primarily employed in warehouses for goods transportation. West & South' region accounted for the largest share in Saudi Arabia forklift rental market in 2016, followed by North & Central' and Eastern' regions. Several upcoming large-scale projects such as Jazan Economic City, King Abdullah Economic City, Jeddah Metro, etc., in West & South' region of the country are expected to continue fuelling rental demand for forklifts in the region through 2022.
Saudi Arabia Forklift Rental Market report discusses the following aspects of forklift rental market in Saudi Arabia:
- Saudi Arabia Forklift Rental Market Size, Share & Forecast
- Segmental Analysis - By Forklift Type (1 - 3.5 Tons, 3.5 - 7 Tons, 7- 10 Tons & Above 10 Tons), By Fuel Type (Diesel, Electric & Petrol/LPG), By Rental Period (Short Term, Short - Medium Term, Medium Term & Long Term)
- Changing Market Trends & Emerging Opportunities
- Policy & Regulatory Landscape
- Competitive Landscape & Strategic Recommendations
Market Trends & Developments
- Operator-Equipment Bundling
- Declining Rental Tariffs
- Anticipated Revival of Economy to Trim Down Forklift Rental Market
- Petrol and LPG forklifts Marking their Presence
- Customization in Rental Agreements
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Saudi Arabia Forklift Rental Market Outlook
5. Saudi Arabia 1 Ton - 3.5 Ton Forklift Rental Market Outlook
6. Saudi Arabia 3.5 Ton - 7 Ton Forklift Rental Market Outlook
7. Saudi Arabia 7 Ton - 10 Ton Forklift Rental Market Outlook
8. Saudi Arabia Above 10 Ton Forklift Rental Market Outlook
9. Market Dynamics
10. Market Trends & Developments
11. Policy & Regulatory Landscape
12. Saudi Arabia Economic Profile
13. Competitive Landscape
14. Strategic Recommendations
Companies Mentioned
- Al Faris
- Al Walid Equipment Rental LLC
- Al-Iman for Contracting & Trading Co.
- Bin Quraya Rental
- Byrne Equipment Rental LLC
- Hertz Equipment Rental Corporation
- Industrial Supplies Development Co. Ltd. (ISDC Rental Company)
- Kanoo Machinery
- Peax Equipment Rental
- Zahid Tractor and Heavy Machinery Company
For more information about this report visit https://www.researchandmarkets.com/research/2hrvzl/saudi_arabia?w=4.
