6Wresearch-Saudi Arabia Earth Moving Equipment Market (2015-2021)
Growing construction market, expansion of metros & airports, upcoming of new hotels & malls and growing mining are the few factors that have resulted in the growth of Earthmoving Equipment market in Saudi Arabia. Further, growth in government expenditure on infrastructure development has impacted for the wide utilization of earthmoving equipment in the construction industry across Saudi Arabia.
According to 6Wresearch, Saudi Arabia’s Earthmoving Equipment market is projected to grow at a CAGR of 9.2% during 2015-21. In 2014, loaders accounted for major share of the market pie followed by construction tractors. During 2015-21, loaders segment is expected to maintain its market dominance and would further contribute to the growth of the market.
Amongst all verticals, construction vertical accounted for around 60% of the market share and is expected to lead in the forecast period due...