Growing Construction Sector to Aid Growth of Saudi Arabia Forklift Rental Market
Rapidly growing construction
industry along with rising number of industrial and infrastructural projects to
propel Saudi Arabia forklift rental market through 2023
According
to TechSci Research report, “Saudi Arabia Forklift Rental Market By Forklift Type, By Fuel Type, By Rental
Period, Competition Forecast & Opportunities, 2023”, the Saudi Arabia forklift rental market is
projected to cross $ 18 million by 2023, on account of reviving construction
industry and high purchasing cost of forklift due to which an increasing number
of construction companies prefer procuring forklift on rent. Moreover, major
projects such as Vision 2030, Jazan Economic City, King Abdullah Economic City
and Jeddah Metro, etc., are expected to generate huge rental demand for
forklifts in the country during the forecast period.
Browse 11 market data Table and 38 Figures spread through 84
Pages and an in-depth TOC on "Saudi
Arabia Forklift Rental Market"
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Some of the major players operating in Saudi Arabia forklift rental
market are Zahid Tractor and Heavy Machinery Company, Al-Iman for Contracting
& Trading Co., Kanoo Machinery, and Al Faris, among others. Eastern region accounted for the largest
share in Saudi Arabia forklift rental market, followed by Central and Northern
regions of the country. Major factors driving the demand for forklift equipment
in eastern region are ongoing infrastructural projects and rising construction
activities in the region. On the basis of fuel type, Saudi Arabia forklift
rental market is segmented into diesel, electric and petrol/LNG. Diesel
forklifts are the most preferred as they are highly efficient and have better
performance as compared to other fuel types.
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“Increasing
government expenditure towards industrial, tourism and construction sectors of Saudi
Arabia is anticipated to boost forklift rental market during the forecast
period. Moreover, foreseeing the huge demand for procuring forklifts on rent in
Saudi Arabia, many leading authorized distributors have set up their rental
divisions to cater to the rising rental demand for forklifts in the country,
which would further steer growth in Saudi Arabia forklift rental market in the
coming years.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Saudi Arabia Forklift Rental Market By Forklift Type, By Fuel Type, By Rental
Period, Competition Forecast & Opportunities, 2023” has analyzed the potential of forklift rental market in Saudi
Arabia, and provides statistics and information on market sizes, shares
and trends. The report will suffice in providing the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. Besides, the report also identifies and analyzes emerging trends
along with major drivers and key challenges faced by Saudi Arabia forklift
rental market.
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