Saudi Arabia Construction Equipment Rental Market Analysis, 2020

Saudi Arabia Construction Equipment Rental Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Saudi Arabia Construction Equipment Rental market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end users, applications, product type, technologies, competitive benchmarking, etc.

Market Opportunities

According to MarkNtel Advisors’ research report “Saudi Arabia Construction Equipment Rental Market Analysis, 2020”, the Saudi Arabia Construction Equipment Rental market is anticipated to grow at a CAGR of around 11% during 2020-25F. The market growth is attributed to the high cost associated with the purchase of the equipment, extensive public & private infrastructure construction projects, and rising demand for rental equipment due to their ease of availability, which have fueled the growth of Saudi Arabia's Earthmoving Equipment Rental market. Furthermore, a constant surge in the residential and commercial industry activities, boost in foreign direct investment, and considerable government focus toward expansion of metros & airports and upcoming new hotels & malls have resulted in the growth of Construction Equipment Rental market in Saudi Arabia.

Market Segmentation

Earthmoving Equipment Dominated the Market

Based on type of equipment, earthmoving equipment dominated the Saudi Arabia Construction Equipment Rental market in 2019 and is anticipated to maintain its dominance in the forecast period. Earthmoving equipment include skid-steer loaders, backhoe loaders, crawler excavators, and mini excavators. The demand for backhoes, loaders, and excavators is surging at a high rate due to a boost in residential and commercial construction activities. Apart from this, escalating construction work in the industries such as hospitality sector, commercial space and extensive government investment toward the infrastructural development are anticipated to upsurge the demand for earthmoving equipment rental in the country. Thus, this is projected to further lead to the growth of the Construction Equipment Rental market in Saudi Arabia in the near future as stated in MarkNtel Advisors’ research report “Saudi Arabia Construction Equipment Rental Market Analysis, 2020”. 

Impact of COVID-19

The COVID-19 pandemic has hampered the growth of Saudi Arabia Construction Equipment Rental market to a great extent owing to the halt on various construction activities in the residential, commercial and industrial sectors in the country.

Competitive Landscape

According to MarkNtel Advisors, the key players with a considerable market share in the Saudi Arabia Construction Equipment Rental market include Zahid Tractor and Heavy Machinery Company, Bin Quraya, Rezayat Sparrow Arabian Crane Hire Co. Ltd., YounesFateh Al Khaja, Arabian Consolidated Trading Group – Crane & Heavy Equipment Rental, Arabian Machinery & Heavy Equipment Co. (AMHEC), Industrial Supplies Development Co. Ltd Rental and Service, Abdullah H. Al Shuwayer Company, Al Arabi Heavy Equipment Lease Company (AHELCO), Hertz Dayim Equipment Rental Co. etc.

Key Questions Answered in the Market Research Report:

1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Saudi Arabia Construction Equipment Rental Market?
2. What is the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations in the Saudi Arabia Construction Equipment Rental Market?  
4. Who are the key competitors or market players and how they perform in Saudi Arabia Construction Equipment Rental Market based on competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Saudi Arabia Construction Equipment Rental Market study?