SAUDI ARABIA MINING EQUIPMENT MARKET

Saudi Arabia Mining Equipment Market Overview

The mining industry requires different types of machinery and equipment to complete specific set of activities. There are numerous types of equipments including Crushing, Pulverizing, and Screening Equipment, Drills & Breakers, Mineral Processing Equipment, and several other type of equipments, which hare used for mining. Mining drills are the most common type of mining equipment and is majorly used as a part of the underground mining operation.

Major Saudi Arabia Mining Equipment Market Drivers

The increasing government’s investment in the mining and mineral sector acts as the major factor driving the growth of the Saudi Arabia Mining Equipment Market. For instance, Saudi Vision 2030 set goals for the mining sector to contribute to the national economy. The mega projects, such as the 2750 Km North South rail line starting from Al-Jalamid mine and connects the Al-Haditha and Jalamid with the new port city Ras Al-Khair, will further propel the growth of Saudi Arabia Mining Equipment Market. The low cost of production associated with the mineral and metals sector in this region due to the easy availability and low prices of raw materials, will have a positive impact on the growing demand of the market. On the other hand, the high cost of these equipments and the breakdown and maintenance issues related to these equipments is likely to hamper the growth of the market in the coming years.

Saudi government identified mining sector as a crucial driver for economic diversification under Saudi Vision 2030. It aims to support private sector participation, more employment opportunities and to increase mining sector contribution to Saudi GDP. Moreover, increasing emphasis on adoption of advanced mining technology to improve productivity, enhance operational efficiency and optimise use of resources is further creating more opportunities for mining equipment in Saudi Arabia in near future.

The Saudi government is focussing on diversifying the economy in order to reduce their dependency on oil and gas and to create more employment opportunities for young population. In addition to this, government offers highly favourable investment in mining processes, mining equipment manufacturers and mineral production sectors. Saudi Arabia has established specialized mining and minerals  processing zone in industrial cities such as Jubail and Yanbu to provide logistic support and to ensure smooth flow of minerals and its products. The government also provides attractive incentives such as tax exemption and custom duty wavier to encourage investment in mining sector.

Increasing investment opportunities in Saudi Arabia mining industry will boost the market growth. For instance, Ma’aden, an Saudi Arabia mining company planned to launch Tharwah, a local content program to maximise the focus on Saudi Arabia mining industry aligned with Saudi vision 2030. The company planned to invest approx. USD 14.6 billion on good and services to encourage operations and also contribute USD 8.8 billion in local content in the kingdom by 2040.

Equipment Category – Segment Analysis

Based on the Equipment Category, the surface mining equipment segment is projected to grow at a higher CAGR during the forecast period owing to the increasing number of mining activities in Saudi Arabia. The growing demand for resource exploration, followed by the strong demand for metals such as silver, platinum, and gold, will further accelerate the demand for surface mining equipments in the market.

Equipment Type – Segment Analysis

Based on the Equipment Type, the mining trucks segment is anticipated to lead the market during the forecast period. The mining trucks are mainly used for material handling and helps in the transportation of the raw material from one production plant to another. The mining trucks are increasing used in mines as it reduces the manual labor work with its ability to load a large amount of material at a point of time. All these factors are the growth of the Saudi Arabia Mining Equipment Market.

Top Market Players

Various notable players in the market includes Epiroc Middle East FZE, Caterpillar Inc., Konecranes, Sany Heavy Industry Co., Ltd., Abdul Latif Jameel IPR Company Limited, Hyundai Construction Equipment Co., Ltd, Sandvik AB, Liebherr, and Hitachi Ltd. among others.

Segments covered in the Report:

The Saudi Arabia Mining Equipment Market has been segmented on the basis of Equipment Category, Industry and ICE, Electric. Based on the Equipment Category, the market is segmented into Crushing, Pulverizing, and Screening Equipment, Drills & Breakers, Mineral Processing Equipment, Surface Mining Equipment, Underground Mining Equipment. Based on the Industry, the market is segmented into Metal, Minerals. Based on the Propulsion, the market is segmented into ICE, Electric.

Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Equipment Category, By Industry, By Propulsion
Regional Coverage	Saudi Arabia
Companies Profiled	Epiroc Middle East FZE, Caterpillar Inc., Konecranes, Sany Heavy Industry Co., Ltd., Abdul Latif Jameel IPR Company Limited, Hyundai Construction Equipment Co., Ltd, Sandvik AB, Liebherr, and Hitachi Ltd. among others; a total of 9 companies covered .
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Saudi Arabia Mining Equipment Market by Equipment Category

• • Crushing, Pulverizing, and Screening Equipment
  • Drills & Breakers
  • Mineral Processing Equipment
  • Surface Mining Equipment
  • Underground Mining Equipment

Saudi Arabia Mining Equipment Market by Industry

• • Metal
  • Minerals

Saudi Arabia Mining Equipment Market by Propulsion

• • ICE
  • Electric

Major Players Operating the Saudi Arabia Mining Machinery and Equipment (Option 1: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Epiroc Middle East FZE
  • Caterpillar Inc.
  • Konecranes
  • Sany Heavy Industries Ltd.
  • Abdul Latif Jameel IPR Company Limited
  • Hyundai Construction Equipment Co., Ltd
  • Sandvik AB
  • Liebherr
  • Hitachi Ltd.