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Saudi earthmovers market to grow at 11.4pc

RIYADH, September 7, 2014

The earthmoving equipment rental market in Saudi Arabia is expected grow at a CAGR of 11.41 per cent over the next five years, thanks to the booming construction sector, said a report.

Construction companies are now focusing more on renting earthmoving equipment rather than buying it, as the chances of the equipment being idle when there is no business is moderate, according to RNR Market Research.

Moreover, companies do not incur high maintenance costs on the earthmoving equipment such as excavators, loaders and construction tractors as they rent them only for a fixed duration, it added.

Hence, an increasing number of Saudi firms such as Younes Fateh Khaja and Partners Contracting Company, Zahid Group and Dayim Holdings are now providing rental services to these construction firms.

According to the report, one of the major growth drivers in this market is the booming construction sector.  The increasing construction of skyscrapers is a key factor contributing to the growth of the construction market in Saudi Arabia.

Earthmoving equipment, also known as heavy equipment vehicles, is used in construction activities that involve earthworks such as the construction of roads, railways, urban infrastructure, ports, and mining activities.

The list includes wheeled excavators, crawler excavators, mini excavators, skid-steer loaders, crawlers, wheeled and compact loaders, backhoe loaders, bulldozers, crawler tractors, and wheeled tractors.

The major players in the earthmoving equipment market in the kingdom are AB Volvo, Caterpillar, JC Bamford Excavator, Komatsu, Doosan Infracore Company, Hitachi Construction Machinery, Hyundai Heavy Industries, Mitsubishi Heavy Industries and Sany Group.-TradeArabia News Service
 




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