The construction equipment rental market in Saudi Arabia is forecast to grow at a CAGR of over 10% during 2016-2021
Easy availability of construction equipment on rent and increasing infrastructure spending are few of the major factors propelling growth in the Saudi Arabia construction equipment rental market. The market for construction equipment rental in the country is dominated by the diesel genset segment, followed by crane rental and wheel loader rental segments.
Construction equipment are widely used across various industries to execute several tasks such as digging, extracting, lifting, aerial access provision, etc. at construction sites. On account of rising crude oil prices before 2012, many large scale construction and infrastructure projects were being undertaken in the country.
However, post 2013, decline in global crude oil prices was witnessed, with crude oil prices plunging to below US$50 per barrel levels in 2015. Consequently, the construction equipment rental market also witnessed a dip in 2014 and 2015. Nevertheless, with increasing government initiatives focused on expansion of non-oil sectors such as construction and mining, Saudi Arabia construction equipment rental market is anticipated to witnessed growth post 2016. The prominent revenue generating segments in Saudi Arabia construction equipment rental market include diesel gensets, cranes, wheel loaders, excavators, bulldozers, motor graders and telescopic handlers.
West & South region accounted for the largest share in Saudi Arabia construction equipment rental market in 2015, followed by North & Central region, and East region. Several high-value large-scale projects such as Jazan Economic City, King Abdullah Economic City and Jeddah Metro, etc. being undertaken in West & South region are fuelling growth in the region's construction equipment rental market.
Saudi Arabia Construction Equipment Rental Market report discusses
- Saudi Arabia construction equipment market size, share & forecast
- Segmental Analysis - By Equipment Type (Diesel Genset, Crane, Wheel Loader, Excavator, Bulldozer, Motor Grader and Telescopic Handler)
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Market Trends & Developments
- Declining Rental Tariff
- Rising Implementation of Fleet Management Software
- Customization of Construction Equipment Rental Agreements
- Declining Impact of Age of Equipment on Rentals
- Operator-Equipment Bundle Offering
- Abdullah Nass & Partners Co. Ltd. (ANPC)
- Al Faris
- Altaaqa Alternative Solutions Co. Ltd.
- Arabian Consolidated Trading Group - Crane & Heavy Equipment Rental
- Bin Quraya Rental
- General Contracting Company (GCC)
- ISDC Rental Company
- Rezayat Sparrow Arabian Crane Hire Co. Ltd.
- Saad Al Qahtani Contracting (SAQCO)
- Zahid Tractor and Heavy Machinery Company
For more information about this report visit http://www.researchandmarkets.com/research/dk8c6h/saudi_arabia
Related Topics: Heavy Machinery
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/saudi-arabia-construction-equipment-rental-diesel-genset-crane-wheel-loader-excavator-bulldozer-motor-grader-and-telescopic-handler-market-forecast-and-opportunities-2021---research-and-markets-300320637.html
SOURCE Research and Markets