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Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Construction Equipment Rental Market, By Equipment Type (Dump Truck, Diesel Genset, Crane, Wheel Loader, Excavator, Bulldozer, Motor Grader, Telescopic Handler and Others), By Region (South & West, North & Central, East), By Province (Mecca, Riyadh, Eastern, Asir, Medina, East), Competition, Forecast & Opportunities, 2016-2026F” under Heavy Industry Market Research Reports category. The Construction Equipment Rental Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Construction Equipment Rental Market stood at USD1419.71 million in 2020 and is expected to grow at a CAGR of around 6.85% to reach USD2166.66 million by 2026. Increasing investments in housing projects by government authorities, rising efforts to reduce the dependence on the oil & gas industry, and ongoing technological advancements are driving the growth of the Saudi Arabia construction equipment rental market in the forecast period.
Increased government spending on infrastructure development and construction activities to boost the country's economy and create an alternate revenue source for the country is bolstering the pace of construction activities in the country. The high initial cost required for purchasing the construction equipment makes the contractors and construction companies opt for rental services to fulfill their demands. Renting construction equipment eliminates the maintenance costs and the need to invest in technological upgradation of the construction equipment, which is one of the major reasons for the high demand of the construction equipment rental market. The surge in the number of market players offering rental services and intense competition among them makes the market players take measures to stay ahead. The adoption of telematics and automation technology by construction equipment manufacturing companies is aiding in making the products more efficient and advanced. Market players are shifting to online platforms to expand their consumer base and make their services accessible to a larger audience is expected to boost the growth of Saudi Arabia construction equipment rental market in the forecast period. However, fluctuations in raw material prices may hinder the growth of the market in the forecast period.
The Saudi Arabia construction equipment rental market is segmented on the basis of equipment type, region, province, and Competitive Landscape. Based on the equipment type, the market is divided into dump truck, diesel genset, crane, wheel loader, excavator, bulldozer, motor grader, and telescopic handler. The telescopic handler segment is expected to witness the fastest CAGR growth in the forecast period. Telescopic handlers are in high demand among construction companies as they can move on-road and off-road and showcase high load capacity and flexibility to carry heavy loads with ease.
Zahid Tractor and Heavy Machinery Company, General Contracting Company (GCC), Bin Quraya Rental, Industrial Supplies Development Co. Ltd. (ISDC Rental Company), Abdulla Nass & Partners Co. Ltd. (ANPC), Saad Al Qahtani Contracting (SAQCO), Arabian Consolidated Trading Group – Crane & Heavy Equipment Rental, Altaaqa Alternative Solutions Co. Ltd., Al Faris, Rezayat Sparrow Arabian Crane Hire Co. Ltd. are among the major market players in the regional platform that lead the market growth of the Saudi Arabia construction equipment rental market.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
•To analyze the historical growth in the market size of the Saudi Arabia Construction Equipment Rental market from 2016 to 2020.
•To estimate and forecast the market size of Saudi Arabia Construction Equipment Rental market from 2021 to 2026 and growth rate until 2026.
•To classify and forecast the Saudi Arabia Construction Equipment Rental market based on equipment type, region, province, Competitive Landscape.
•To identify the dominant region or segment in the Saudi Arabia Construction Equipment Rental market.
•To identify drivers and challenges for the Saudi Arabia Construction Equipment Rental market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia Construction Equipment Rental market.
•To identify and analyze the profiles of leading players operating in the Saudi Arabia Construction Equipment Rental market.
•To identify key sustainable strategies adopted by market players in the Saudi Arabia Construct
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