Saudi Arabia Equipment As A Service Market Size & Outlook
Global Market
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Saudi Arabia equipment as a service market highlights
- The Saudi Arabia equipment as a service market generated a revenue of USD 23.5 million in 2023 and is expected to reach USD 404.4 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 43.8% from 2024 to 2030.
- In terms of segment, cnc machines was the largest revenue generating equipment in 2023.
- CNC machines is the most lucrative equipment segment registering the fastest growth during the forecast period.
Equipment as a service market data book summary
| Market revenue in 2023 | USD 23.5 million |
| Market revenue in 2030 | USD 404.4 million |
| Growth rate | 43.8% (CAGR from 2024 to 2030) |
| Largest segment | Cnc machines |
| Fastest growing segment | CNC machines |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Air Compressor, Pump, Power Tools, Ground Power Units, Laser cutting machines, Printing Machines, CNC machines, Material handling system, Packaging Machine, Excavators, Cranes, Turning and milling machines |
| Key market players worldwide | Atlas Copco AB ADR, Heidelberger Druckmaschinen AG, Desktop Metal Inc Ordinary Shares - Class A, Siemens AG, Dmg Mori Co Ltd, Hilti Group, Metso Corp, TRUMPF, Kaeser Kompressoren, SMS Group, Arnold Machine Inc., Uteco Converting, Volvo AB Class B, Maschinenfabrik HEID, Sk Laser, Tamturbo |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.6% of the global equipment as a service market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia equipment as a service market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 404.4 million by 2030.
Saudi Arabia's economy is undergoing a transformation owing to the implementation of various strategic reforms aimed at reducing its reliance on oil, diversifying income sources, and improving the overall competitiveness of the country.
The country has also undertaken various construction and infrastructural projects to support its Vision 2030 initiative, which is likely to further boost the need for capital investments and machinery.
Moreover, Saudi Arabia is the largest country in the Middle East, and due to its geographical location, the country has rich mineral resource deposits. Natural resources such as petroleum, copper, natural gas, gold, and iron ore are primarily found in the country.
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Equipment As A Service Market Scope
Equipment As A Service Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Siemens AG | View profile | 321,000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | www.siemens.com |
| Hilti Group | View profile | 10001+ | Schaan, Schaan, Liechtenstein, Europe | www.hilti.group/content/hilti/CP/XX/en.html |
| Atlas Copco AB ADR | View profile | 53,728 | Sickla Industrivag 19, Nacka, Stockholm, Sweden, SE-105 23 | www.atlascopcogroup.com |
| Heidelberger Druckmaschinen AG | View profile | 9,565 | Kurfursten-Anlage 52-60, Heidelberg, BW, Germany, 69115 | www.heidelberg.com |
| Metso Corp | View profile | 17,121 | Rauhalanpuisto 9, Helsinki, Finland, 02330 | www.metso.com |
| Desktop Metal Inc Ordinary Shares - Class A | View profile | 950 | 63 3rd Avenue, Burlington, MA, United States, 01803 | www.desktopmetal.com |
| Dmg Mori Co Ltd | View profile | 13,484 | 2-35-16 Meieki, Nakamura-ku, Aichi, Nagoya City, Japan, 450-0002 | www.dmgmori.co.jp |
| TRUMPF | View profile | 1001-5000 | Ditzingen, Baden-Wurttemberg, Germany, Europe | www.trumpf.com/de_DE/ |
| Kaeser Kompressoren | View profile | 5001-10000 | Coburg, Bayern, Germany, Europe | www.kaeser.com/ |
| SMS Group | View profile | 10001+ | Düsseldorf, Nordrhein-Westfalen, Germany, Europe | www.sms-group.com/ |
Saudi Arabia Equipment As A Service Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Equipment As A Service Market Outlook will help companies and investors design strategic landscapes.
Cnc Machines was the largest segment with a revenue share of 30.21% in 2023.
Horizon Databook has segmented the Saudi Arabia equipment as a service market based on air compressor, pump, power tools, ground power units, laser cutting machines, printing machines, cnc machines, material handling system, packaging machine, excavators, cranes, turning and milling machines covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia's economy is undergoing a transformation owing to the implementation of various strategic reforms aimed at reducing its reliance on oil, diversifying income sources, and improving the overall competitiveness of the country.
The country has also undertaken various construction and infrastructural projects to support its Vision 2030 initiative, which is likely to further boost the need for capital investments and machinery.
Moreover, Saudi Arabia is the largest country in the Middle East, and due to its geographical location, the country has rich mineral resource deposits. Natural resources such as petroleum, copper, natural gas, gold, and iron ore are primarily found in the country.
- Saudi Arabia Equipment As A Service Market Equipment Outlook (Revenue, USD Million , 2018-2030)
- Air Compressor
- Pump
- Power Tools
- Ground Power Units
- laser cutting machines
- Printing Machines
- CNC machines
- Material handling system
- Packaging Machine
- Excavators
- Cranes
- Turning and milling machines
- Saudi Arabia Equipment As A Service Market End-use Outlook (Revenue, USD Million , 2018-2030)
- Construction
- Material Handling
- Mining
- Manufactruing
- Packaging
- Saudi Arabia Equipment As A Service Market Financing Models Outlook (Revenue, USD Million , 2018-2030)
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia Equipment As A Service Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia Equipment As A Service Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Saudi Arabia Equipment As A Service Market, 2018-2030 (US$M)
Saudi Arabia equipment as a service market statistics, by equipment, 2018-2030 (US$M)
