Saudi Arabia Crawler Excavator Market Sales to Reach 10.75 Thousand Units, Market Revenue to Reach $1.1 Billion by 2029 - Arizton

According to Arizton's latest research report, the Saudi Arabia crawler excavator market [https://www.arizton.com/market-reports/saudi-arabia-crawler-excavator-market] is growing at a CAGR of 7.18% during 2023-2029.

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Report Scope:

Market Size - Volume (2029): 10.75 Thousand Units

Market Size - Volume (2023): 7.09 Thousand Units

CAGR - Volume (2023-2029): 7.18%

Market Size - Revenue (2029): $1.1 Billion

Historic Year: 2020-2022

Base Year: 2023

Forecast Year: 2024-2029

Crawler excavators are predominantly used in Saudi Arabia's construction projects, especially due to the country's sandy terrain, with these machines accounting for 90% of total excavator sales. Among them, the 20-ton excavator is the most popular, holding a 50% market share, while the 50-ton model holds a 20% share. The demand for construction equipment is expected to remain steady in 2024, with major projects like the $500 billion NEOM smart city expected to drive sales. In line with this growth, XCMG expanded its operations in Saudi Arabia by opening a new service center in Dammam in June 2024. The facility, which includes a transit warehouse, a key component warehouse for large projects, and a training center, complements existing service centers in Riyadh, Jeddah, and Tabuk. This expansion supports XCMG's involvement in major developments like the Red Sea Project, NEOM, and DGDA, aligning with Saudi Arabia's Vision 2030 and the Belt and Road Initiative. Additionally, HD Hyundai Infracore signed a contract in 2024 to supply 100 excavators to leading construction firms Saudi Pan Kingdom Company (SAPAC) and Nesma & Partners Contracting, further fueling the growth of the construction equipment market in the region.

Saudi Arabia's Green Hydrogen Ambitions and Its Impact on Construction Machinery

Saudi Arabia is emerging as a global leader in the green hydrogen industry, spearheaded by the Public Investment Fund (PIF). The country is developing the world's largest green hydrogen facility in NEOM, powered by abundant solar and wind energy. This initiative supports the transition to sustainable energy, including the use of green hydrogen in construction machinery. Companies like Caterpillar and Komatsu are developing hydrogen-powered equipment, with Komatsu set to launch a hydrogen-fueled excavator in 2024. Saudi Arabia's Helios project, a $5 billion venture in NEOM, aligns with the nation's renewable energy goals and global hydrogen supply.

Saudi Arabia Construction Boom and the Surge in Demand for Crawler Excavators

The construction sector in Saudi Arabia is rapidly expanding, with a multitude of projects in the pipeline, including oil and gas sector expansions, new residential and commercial real estate, and upgrades to transport, power, and water systems. As part of Vision 2030, Saudi Arabia is progressing significantly with major infrastructure projects like the $500 billion NEOM megacity and The Line. Additionally, in July 2024, the Kingdom launched data infrastructure projects to enhance its digital transformation. Notably, the Makkah Public Transport Program will include a 180 km metro to accommodate millions of visitors. These developments are set to drive demand for crawler excavators in the Saudi market.

Mini Excavators Dominating the Saudi Arabia Crawler Excavator Market

In 2023, mini excavators held a 6.7% share of Saudi Arabia's crawler excavator market. This segment is projected to grow at a CAGR of 6.47%, reaching nearly 700 units by 2029. Despite having a smaller share compared to larger excavators, mini excavators are expected to see increased demand, particularly for residential, road maintenance, and landscaping projects. Their versatility and faster operation make them ideal for urban environments, where they can easily navigate tight spaces and be transported more efficiently than larger machines, boosting their popularity in infrastructure and residential upgrades.

Recent Developments in the Saudi Arabia Crawler Excavator Market

* In 2024, HD Hyundai Infracore signed the contract to supply 100 excavators to Saudi Arabia's leading construction firms, Saudi Pan Kingdom Company (SAPAC) and Nesma & Partners Contracting.
* HD Hyundai Infracore planned to sequentially supply 100 units by the end of September 2024, including 20 large 50-ton excavators, and 40 medium-sized 20-ton excavators.
* HD Hyundai Construction Equipment announced the signing of a supply contract for 100 large excavators with Al Rawaf Consulting Company, a leading construction firm in Saudi Arabia in 2023.

Saudi Arabia Crawler Excavator Market Dynamics

Drivers

* Growth in Investments in Public Infrastructure
* Rise in Investments in Real Estate
* Investment In Renewable Energy Sector

Trends

* Use of Hydrogen Fuel Powered Excavators
* Growth in Demand for Modern Technology Excavators
* Surge in Demand for Excavators in Waste Management Projects

Challenges

* Surge In Building Material Cost
* Labor Shortage and Regulatory Challenges
* High Dependency on Hydrocarbon Industry

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Prominent Vendors

* Caterpillar
* Komatsu
* Xuzhou Construction Machinery Group (XCMG)
* SANY
* Zoomlion Heavy Industry Science & Technology Co., Ltd.
* Volvo Construction Equipment
* Hitachi Construction Machinery
* Kobelco
* Hyundai Construction Equipment
* JCB
* Kubota
* CASE Construction Equipment
* LiuGong
* DEVELON
* Mecalac
* Shandong Lingong Construction Machinery Co., Ltd. (SDLG)
* Yanmar
* Wacker Neuson

Distributor Profiles

* Arabian Truck & Construction Equipment Co. (ATEC)
* Arabian Auto Agency
* Al-Qahtani Vehicle & Machinery Company
* Abunayyan Trading
* Zahid Group

Market Segmentation

Crawler Excavator

* Size
* Mini Excavator
* Small Excavator
* Medium Excavator
* Large Excavator
* Gross Power
* Less Than 60 HP
* 60 HP -100 HP
* 101 HP-200 HP
* Above 200 HP

End Users

* Construction
* Mining
* Agriculture
* Forestry
* Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

The Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the Saudi Arabia crawler excavator market. Request for Free Sample to get a glance of the report now: [https://www.arizton.com/market-reports/saudi-arabia-crawler-excavator-market]

What Key Findings Our Research Analysis Reveals?

How big is the Saudi Arabia crawler excavator market?

What is the growth rate of the Saudi Arabia crawler excavator market?

Who are the key players in the Saudi Arabia crawler excavator market?

What are the trends in the Saudi Arabia crawler excavator industry?

Which are the major distributor companies in the Saudi Arabia crawler excavator market?

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