Bottom Loading Arms Segment to Dominate Saudi Arabia Truck Loading Arms Market
Technological advancements
and growing oil & gas industry to drive Saudi Arabia truck loading arms
market through 2024
According to TechSci Research
report, “Saudi Arabia Truck Loading Arms Market By Type, By End User,
Competition, Forecast & Opportunities, 2017 – 2024”, Saudi Arabia truck loading
arms market is projected to continue growing during 2019-2024, owing to increasing
investments across various sectors such as petrochemical and refinery. Moreover,
implementation of strict rules and regulations related to truck loading in the
country is expected to drive the market during forecast period. Conversion of
top truck loading arms to bottom truck loading arms and growing preference for
multiple compartment trucks/trailers are some of the other factors that would
have a positive impact on the country’s truck loading arms market.
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In terms of type, Saudi
Arabia truck loading arms market has been categorized into top loading arms and
bottom loading arms. Of these categories, bottom loading arms segment dominated
the market in 2018, majorly on account of strict rules and regulations
implemented by Saudi Standards, Metrology and Quality Organization (SASO) and
Saudi Aramco for the conversion of all the truck loading systems into bottom
loading in the country. However, despite bottom loading arms accounting for the
majority market share, it has witnessed slow growth in the past due to the
country’s economic condition and continuously falling oil prices. Bottom
loading arms market is mainly served by overseas players with their local
representatives in Saudi Arabia. Moreover, the top loading arms category would witness
healthy growth rate, owing to its demand from the chemical industry. Rising demand
for basic, intermediate and specialty chemicals is fueling the top loading arms
category in Saudi Arabia.
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“Increasing demand
for truck loading arms from the oil & gas industry is main factor driving
Saudi Arabia truck loading arms market. Moreover, growing chemical industry is
resulting in huge demand for truck loading arms in the country. However, since
truck loading arm is a customized product, there is a huge price difference
among competitors in Saudi Arabia, which is acting as a barrier in the country.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Saudi Arabia Truck
Loading Arms Market By Type, By End User, Competition, Forecast &
Opportunities, 2017 – 2024” has evaluated the future growth potential of Saudi Arabia
truck loading arms market and provides statistics and information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in Saudi Arabia truck
loading arms market.
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