Research and Markets: Earthmoving Equipment Market in Saudi Arabia 2015-2019: The High Price of Raw Materials Is One of the Key Challenges for the Market
June 19, 2015 | By Business Wire News
DUBLIN
Research and Markets (http://www.researchandmarkets.com/research/wgdf5l/earthmoving) has announced the addition of the “Earthmoving Equipment Market in Saudi Arabia 2015-2019” report to their offering.
The analysts forecast the Earthmoving Equipment market in Saudi Arabia to grow at a CAGR of 12.24 percent over the period 2014-2019.
Commenting on the report, an analyst from The author’s team said: The growth of equipment rental business is one of the key trends being witnessed in the market. High prices of earthmoving equipment make it necessary for vendors to provide them on rent as a cost-effective solution for customers.
According to the report, sustained growth of the construction industry is one of the major drivers of the Earthmoving Equipment market in Saudi Arabia. The government of Saudi Arabia has been investing heavily in infrastructure development and maintenance, and is expected to maintain this over the coming years. These projects require continuous supply of earthmoving equipment. This has resulted in an increased demand for earthmoving equipment in Saudi Arabia.
Manufacture of earthmoving equipment requires high initial investment and the increase in prices of raw materials increases the manufacturing cost of equipment. This affects the profit margin of the manufacturers adversely.
Key Vendors
– Caterpillar
– J.C. Bamford Excavators
– Komatsu
– Volvo
Other Prominent Vendors
– Hitachi Construction Machinery
– Liebherr Group
For more information visit http://www.researchandmarkets.com/research/wgdf5l/earthmoving
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