DUBLIN–(BUSINESS WIRE)–Report “Saudi Arabia Excavators Market Overview, 2027” has been added to from ResearchAndMarkets.com offer.
The market is expected to witness significant market growth over the forecast period owing to increasing industrialization across the country.
The increasing development in commercial construction, residential construction, mining and sewage disposal demands the growth of the excavator market across the country.
The expansion of the construction industry and the growing demand for robust, efficient and mobile construction equipment over heavy construction equipment are the major drivers of the excavator market. Infrastructure and road construction in Saudi Arabia is expected to accelerate in developing economies, creating many opportunities for the excavator market in the coming years.
Moreover, growing demand for transporting and unloading excavated materials in construction and manufacturing sectors across the country is propelling higher market growth. Extensive use of excavators in material handling and infrastructure development applications will drive industry demand. The increasing extraction of minerals for several industries creates a demand for excavators.
In addition, commercial and residential infrastructure developments under smart city initiatives across the country will require heavy machinery for various applications including the demolition of old buildings, thus creating demand for additional equipment. The growing demand for hydraulic and long reach excavators for low and high level demolition is fueling industry statistics.
With increasing automation and technical advancements, Saudi manufacturers are implementing digital assistive tools for efficient control and optimal performance. Implementing cameras, sensors, and machine monitoring systems will help operators do their jobs efficiently.
Telematics is a new trend for excavators across the country. It uses a large amount of data for predictive analysis to automate the operation of excavators. The visual guidance system allows operators to enter parameters, such as depth and slope, providing operational efficiency. The excavation procedure is a contaminating process and creates adverse environmental conditions, resulting in the introduction of environmentally friendly electric shovels
. The Saudi Arabia excavator market is witnessing growth in agricultural applications globally due to usage in essential farming and farm maintenance operations. The mini models help farmers dig and lay water supply and sewage lines, providing a better irrigation environment. To reduce effort and maximize productivity, farmers use excavators to dig and load sand and gravel.
According to the report, the market is segmented into two applications including construction and mining; and utilities and agriculture. Among these types, construction applications dominated the market in 2021 and are expected to continue growing in the coming period.
Rising investment and financing in residential construction segment followed by development of transportation infrastructure is expected to increase the growth prospects of this market over the forecast period. This will result in a stable growth rate of the market and boost the sales of excavator manufacturers.
Further, the market is divided into different types of machinery including mini excavators, crawler excavators, wheel excavators, and others. Among these types, crawler excavators are expected to dominate the market over the forecast period. Rising demand for government aid for construction and expansion of the mining industry is expected to drive the growth of the crawler excavators market in Saudi Arabia.
Impacts of COVID-19:
The onset of the novel coronavirus pandemic has dealt a blow to the excavator market share which was expected to increase during the forecast period. Limitations like the implementation of lockdown followed by the growing need for jobs and funds are hampering the market’s ability to grow.
However, at the start of the period, trading in the Saudi market is expected to begin with the ease of restrictions and hence, positive attributes are in store for the market.
Aspects covered in the report
Market Size by Value for Historical Period (2016-2021)
Market Size by Value for the Forecast Period (2022-2027)
Market share by application (construction, mining, utilities and agriculture)
Market share by machine type (mini-excavator, crawler, wheeled, other)
Considered in the report
Geography: Saudi Arabia
Historical year: 2016
Reference year: 2021
Estimated year: 2022
Forecast year: 2027
For more information about this report visit https://www.researchandmarkets.com/r/i1k2w9