Construction industry fuels Saudi Arabia's equipment market

Saudi Arabia Construction Equipment Market is forecast to grow at a CAGR of 8.75% during 2015-2021, reports 6Wresearch.

Saudi Arabia Construction Equipment Market is highly import driven and consolidated market with few global players accounting for majority of the market. International players are increasingly making their footprints in the market through partnerships or distribution.

Metal and mining is the major application of construction equipment market in the country, contributing to the maximum revenue in Saudi Arabia construction equipment market. According to Saudi Commission for Tourism and Antiquities, 214 new hotels would be built in the country over the next two years and over $30 billion would be investing to boost the hospitality sector.

According to Rajat Kharbanda, Senior Consultant, Research and Consulting, 6Wresearch, "With the large number of mega projects coming up in the construction industry and expansion of public and private infrastructures in the country, the market is expected to witness growth trajectory in the Saudi Arabia construction market during the forecast period.

In Saudi Arabia construction equipment market, Loaders accounted for the major share in the Construction equipment, followed by Crane and Construction Tractors. Crawler Loaders generated major share, followed by the tower & mobile crane and in construction Tractors Bulldozer/ Crawler Tractor has captured the market. "Sathi Paul concluded.