Saudi Arabia Construction Equipment Market Report and Forecast 2025-2034 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Saudi Arabia Construction Equipment Market Report and Forecast 2025-2034" has been added to ResearchAndMarkets.com's offering.

The Saudi Arabia construction equipment market is poised for significant growth, with a projected value of USD 1.46 billion in 2024. Anticipated to grow at a CAGR of 4.30% from 2025 to 2034, the market is expected to reach nearly USD 2.22 billion by 2034. This growth is largely driven by the Vision 2030 initiative, which aims to increase affordable housing access, thereby boosting demand for construction efficiency, productivity, and cost-effectiveness across residential projects.

According to a Ministry of Municipal and Rural Affairs sector analysis, there are now 138,114 companies active within the construction sector, contributing to the burgeoning market for construction equipment.

Key Trends and Developments

Infrastructure development is a major growth driver, with the National Transformation Program paving the way for improved infrastructure across sectors. By 2023, Saudi Arabia ranked 34th in global infrastructure competitiveness. Cutting-edge equipment, particularly those embracing automation and IoT, are being increasingly adopted, enhancing construction efficiency and reducing operational expenses.

The mining sector, with enhanced investment, is another key area of growth, expected to contribute USD 47 billion to sector GDP and create 219,000 jobs. This includes developing remote areas and creating an additional 40,000 jobs by 2030, further fuelling equipment demand. Additionally, tourism is on the rise, with significant construction in cities such as Makkah, Madinah, Riyadh, and Jeddah aiming to accommodate more tourists.

Market Segmentation and Insights

The market is segmented into various machinery types including earth-moving machinery, material handling machinery, and concrete and road construction machinery. Internal combustion engines dominate the propulsion types due to high-power output and mobility, while electric propulsion gains traction for its sustainability benefits.

In terms of end-use, sectors like oil and gas, construction and infrastructure, manufacturing, and mining are key contributors to market demand. Developing robust road networks to international standards further underlines Saudi Arabia's commitment to sustaining this growth.

Competitive Landscape

The competitive landscape features prominent players like AB Volvo, Caterpillar Inc., Sumitomo Construction Machinery Co. Ltd., and others such as CNH Industrial N.V., Komatsu Middle East, and Doosan Corporation. These companies are strategically positioned to leverage growth opportunities spurred by tourism, technology, infrastructure, and the burgeoning oil and gas sector.

Saudi Arabia's Vision 2030 initiatives and substantial developments in infrastructure, tourism, and mining sectors are instrumental in driving the construction equipment market forward, challenging players to innovate and excel in this competitive landscape.

Key Topics Covered:

1 Executive Summary

2 Market Overview and Stakeholder Insights

3 Economic Summary

4 Country Risk Profiles

5 Middle East and Africa Construction Equipment Market Overview

5.4 Middle East and Africa Construction Equipment Market Share by Country

6 Saudi Arabia Construction Equipment Market Overview

7 Saudi Arabia Construction Equipment Market by Machinery Type

7.1 Earth Moving Machinery

7.2 Material Handling Machinery

7.3 Concrete and Road Construction Machinery

8 Saudi Arabia Construction Equipment Market by Propulsion Type

9 Saudi Arabia Construction Equipment Market by End-Use

10 Market Dynamics

10.1 SWOT Analysis

10.2 Porter's Five Forces Analysis

11 Competitive Landscape

11.5 Company Profiles

11.5.1 AB Volvo

11.5.2 Hitachi Construction Machinery Co., Ltd.

11.5.3 Sumitomo Construction Machinery Co., Ltd.

11.5.4 Caterpillar Inc.

11.5.5 CNH Industrial N.V.

11.5.6 Komatsu Ltd.

11.5.7 Doosan Corporation

11.5.8 Manitowoc Company Inc.

11.5.9 Kobelco Construction Machinery Co., Ltd

Companies Featured

• 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 Co., Ltd

For more information about this report visit https://www.researchandmarkets.com/r/hqidr7

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