Saudi Arabia Construction Equipment Market Overview
Saudi Arabia Construction Equipment Market report thoroughly covers market by types, applications and regions. Saudi Arabia Construction Equipment Market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
According to 6Wresearch, Saudi Arabia Construction Equipment Market size is projected to grow at a CAGR of 4.2% in terms of revenues during 2021-2027. The construction equipment market in Saudi Arabia has been declining over the last few years on account of halting and cancellation of various projects in the wake of several factors such as the oil crisis. Further, with the outbreak of the COVID-19 pandemic in 2020, construction sector witnessed another massive hit due to supply chain disruptions, delays and lack of manforce, thus, negatively impacting the construction equipment market in the country in 2020.
Market by Applications Analysis
On the basis of applications, construction application segment is expected to demonstrate significant growth over the coming years owing to a large number of upcoming infrastructure projects in the region such as NEOM city, Red Sea project and Diriya Gate project. Additionally, the rising hotel chains and entertainment areas on account of Saudi vision to boost the tourism sector have further escalated the demand for construction equipment in the country. Based on regions, central region of Saudi Arabia is anticipated to register fastest growth in the forecast period on the back of many upcoming infrastructure development projects in the region.
Key Highlights of the Report
- Saudi Arabia Construction Equipment Market Overview
- Saudi Arabia Construction Equipment Market Outlook
- Saudi Arabia Construction Equipment Market Trends
- Saudi Arabia Construction Equipment Market Forecast
- Saudi Arabia PESTEL Analysis
- Market Opportunity Assessment
- Company Shares
- Market Competitive Benchmarking
- Saudi Arabia Construction Equipment Market Growth
- Market Drivers, Restraints
- Saudi Arabia Construction Equipment Market Share
- Company Profiles
- Key Strategic Recommendations
- Industry Life Cycle
- Saudi Arabia Construction Equipment Market – Porter’s Five Forces
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