As per the latest research report titled ‘Saudi Arabia Construction Equipment Rental Market Analysis, 2020’, available with Market Study Report, Saudi Arabia construction equipment rental market is projected to grow with a CAGR of 11% over 2020-2025.
 

Massive investment towards public and private infrastructure development across the region, in consort with high cost of purchasing construction equipment, and easy availability and affordability of renting are impelling the growth of Saudi Arabia construction equipment rental market.
 

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Moreover, surge in foreign direct investment, government emphasis on development of airports and metros, amplifying commercial and residential sector activities, and popping up of new malls and hotels are providing appreciative impetus to the market.
 

Speaking of COVID-19 impact, the rapid spread of virus compelled the federal authorities to impose lockdown and social distancing measures, temporarily halting numerous construction projects, hence arresting the Saudi Arabia construction equipment rental industry forecast.
 

The business intelligence report on Saudi Arabia construction equipment market comprises of historic data and analyzes the present scenario in order to predict the growth trajectory of the market over 2020-2025. It highlights the growth stimulants and profitable prospects, while scrutinizing the challenges & restraints which are to be overcome.
 

Based on type of equipment, the industry classified into material handling equipment, construction vehicle, earth moving equipment, and other construction & tunneling equipment. As per the report, earth moving equipment segment dominated construction equipment rental market share in Saudi Arabia in 2019 and will continue to showcase similar trend over the forecast period. Booming construction activities across commercial and residential sectors, flourishing hospitality verticals, and government emphasis on infrastructure development are fostering the demand for earth moving equipment rental.
 

Speaking of end-user spectrum, Saudia Arabia construction equipment rental industry is segmented into industrial, commercial, and residential. While as per emirates, the market space is divided into South, East, West, and Central.
 

Major players operating in Saudi Arabia construction equipment rental market sphere are Rezayat Sparrow Arabian Crane Hire Co. Ltd., Al Faris Group, Altaaqa Alternative Solutions Co. Ltd., ACT Group (Arabian Consolidated Trading), Saad Al Qahtani Contracting (SAQCO), Abdulla Nass & Partners Co. Ltd. (ANPC), Industrial Supplies Development Co. Ltd. (ISDC Rental Company), Bin Quraya Group, General Contracting Company (GCC), and Zahid Tractor and Heavy Machinery Co. Ltd.