Under the Saudi Vision 2030, numerous construction projects have been introduced in the country. The growing infrastructure development in Saudi Arabia is anticipated to boost the demand for the rental earthmoving equipment market. Moreover, the government has introduced various housing projects, which would boost the growth of the construction industry. In 2018, the government signed five agreements for the construction of around 19,000 housing units in Riyadh. Therefore, the upcoming construction projects are projected to strongly contribute to the growth of Saudi Arabia earthmoving equipment rental market in the years to come, revealed by MarkNtel Advisors’ research report “Saudi Arabia Earthmoving Equipment Rental Market Analysis, 2020”.
According to MarkNtel Advisors’ research report “Saudi Arabia Earthmoving Equipment Rental Market Analysis, 2020”, the earthmoving equipment rental market is projected to grow at a CAGR of around 10% during 2020-25. The economic diversification and introduction of new projects apart from oil & gas sector have boosted the number of foreign investments in the country. The total number of greenfield investments reached 103 in 2018 from 89 in 2017. Hence, it is estimated to result in the establishment of new building which would surge the demand for rental earthmoving equipment. Moreover, the budget-constrained businesses are more inclined towards renting the earthmoving equipment due to the high cost of purchasing the equipment in comparison to renting. Therefore, it is anticipated to positively impact the growth of Saudi Arabia earthmoving equipment rental market.
As per MarkNtel Advisors’ study, the residential and commercial sector grabbed a significant market share in the Saudi Arabia earthmoving equipment rental market in 2019 due to the growing support by the government to boost the infrastructure development. Moreover, the increasing number of tourist arrivals in the country is expected to surge the growth of hospitality sector. The establishment of new hotels in the country would provide immense opportunities to the companies offering rental earthmoving equipment in the country.
The key players grabbing a considerable market share in the Saudi Arabia earthmoving equipment rental market include Zahid Tractor and Heavy Machinery, Bin Quraya Rental, Saad Al Qahtani Contracting, Arabian Consolidated Trading Group, Al Faris, etc.
"Saudi Arabia Earthmoving Equipment Rental Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for rental earthmoving equipment firms across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Excavators, Graders, Loaders, Bulldozers, Trenchers)
2. By End Users (Residential, Commercial, Industrial)
3. By Geographic Region (East, West, South, Central)
4. By Competitors Zahid Tractor and Heavy Machinery, Bin Quraya Rental, Saad Al Qahtani Contracting, Arabian Consolidated Trading Group, Al Faris, Others)
Key questions answered in the study:
1. What are the current and future trends of the Saudi Arabia earthmoving equipment rental market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the Saudi Arabia earthmoving equipment rental market?
6. What are the customer orientation, purchase behavior, and expectations from the rental construction equipment companies across various regions?