Earthmoving Equipment Market in Saudi Arabia 2015-2019
About Earthmoving Equipment
Earthmoving equipment refers to heavy equipment used in the Construction industry to move large quantities of earth, dig foundations, and landscape areas. The following are the various types of earthmoving equipment: excavators, loaders, and construction tractors. The Earthmoving Equipment segment is one of the major segments of the Construction Equipment industry. The Earthmoving Equipment market in Saudi Arabia is one of the fastest growing construction equipment markets in the Global Construction market.
TechNavio's analysts forecast the Earthmoving Equipment market in Saudi Arabia to grow at a CAGR of 12.24 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Earthmoving Equipment market in Saudi Arabia for the period 2015-2019. The report includes the historical sales of earthmoving equipment in the Construction Equipment market in Saudi Arabia. The market size is determined by the consumption value of earthmoving equipment. The performance of the Earthmoving Equipment market in Saudi Arabia is estimated with the help of the predicted CAGR after the analysis of the present condition of the market.
TechNavio's report, the Earthmoving Equipment Market in Saudi Arabia 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Earthmoving Equipment market in Saudi Arabia and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Earthmoving Equipment Market in Saudi Arabia 2015-2019
TechNavio recognizes the following companies as the key players in the Earthmoving Equipment Market in Saudi Arabia: Caterpillar Inc., J.C. Bamford Excavators Ltd. (JCB), Komatsu Ltd. and Volvo AB
Other Prominent Vendors in the market are: Hitachi Construction Machinery and Liebherr Group.
Commenting on the report, an analyst from TechNavio’s team said: “The growth of equipment rental business is one of the key trends being witnessed in the market. High prices of earthmoving equipment make it necessary for vendors to provide them on rent as a cost-effective solution for customers.”
According to the report, sustained growth of the construction industry is one of the major drivers of the Earthmoving Equipment market in Saudi Arabia. The government of Saudi Arabia has been investing heavily in infrastructure development and maintenance, and is expected to maintain this over the coming years. These projects require continuous supply of earthmoving equipment. This has resulted in an increased demand for earthmoving equipment in Saudi Arabia.
Further, the report states that the high price of raw materials is one of the key challenges for the market. Manufacture of earthmoving equipment requires high initial investment and the increase in prices of raw materials increases the manufacturing cost of equipment. This affects the profit margin of the manufacturers adversely.
Caterpillar , J.C. Bamford Excavators , Komatsu , Volvo , Hitachi Construction Machinery, Liebherr Group
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