Cement Market in Saudi Arabia 2018-2022 | 5% CAGR Projection Through 2022 | Technavio

Technavio has announced its latest market research report titled cement market in Saudi Arabia 2018-2022. (Graphic: Business Wire)

LONDON--()--The cement market in Saudi Arabia is expected to post a CAGR of more than 5% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report.

In 2016, the Saudi Arabian government launched the Saudi Vision 2030 with an aim to boost economic development by reducing the country’s dependence on oil resources. The project is expected to fuel the growth of various sectors such as tourism, healthcare, and real estate. This will increase the number of residential and non-residential construction projects in the country. These factors will be crucial in driving the growth of the cement market during the forecast period.

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As per Technavio, the construction of low power-consuming cement plants will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.

Cement Market in Saudi Arabia: Construction of Low Power-Consuming Cement Plants

Production costs of cement is expected to increase during the forecast period owing to the proposed cut in energy subsidies in Saudi Arabia. This is compelling many cement manufacturers to invest in new infrastructure projects that reduce power consumption. For instance, in 2018, Saudi Cement partnered with GE to upgrade three turbines at its Saudi’s Hofuf plant. The project is expected to improve the overall efficiency of the turbines while reducing the power consumption from the grid supply. This trend will have a positive impact on the growth of the cement market in Saudi Arabia.

“Increase in the number of mergers and acquisitions and the resumption of cement exports will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Cement Market in Saudi Arabia: Segmentation Analysis

This market report segments the cement market in Saudi Arabia by application (residential and commercial) and geography (Central, Western, Southern, Eastern and Northern Saudi Arabia).

The Central Saudi Arabia region led the market in 2017, followed by the Western, Southern, Eastern, and Northern Saudi Arabia respectively. During the forecast period, the Central Saudi Arabia region is expected to maintain its dominance over the market. This is due to the strong presence of key players in the region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/

Release Summary

The cement market in Saudi Arabia is expected to post a CAGR of more than 5% during the period 2018-2022, according to Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: https://www.technavio.com/