Ready Mix Cement Market In Saudi Arabia to exhibit market growth at a CAGR of 7.75% through 2023-2027
The launch of Saudi Vision 2030, the increased government investments in infrastructure, and the growth of the housing mortgage sector are transforming the Ready Mix Cement Market in Saudi Arabia into a billion-dollar industry. It is estimated the market will grow at a CAGR of 7.75% followed by a USD 2.47 Bn revenue growth.
As per the data and growth prediction, "In 2016, Saudi Arabia announced Vision 2030, a blueprint for Saudi Arabia's long-term goals and expectations, this project aimed to increase the country's economic development while minimizing the dependence on its oil resources." Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers that are likely to impact the market in focus.
Snapshot of the Ready Mix Cement Market in Saudi Arabia
Ready Mix Cement Market In Saudi Arabia: Segmentation Analysis
The market for Ready Mix Cement in Saudi Arabia can be segmented by product (transit mixed and shrink mixed), application (non-residential and residential), and type (volumetric mixer and in-transit mixer).
When it comes to segment analysis as per the type, the transit mixed concrete segment garners the largest share in terms of revenue in the ready-mix cement market in Saudi Arabia and is expected to hold its dominance in the product segment during the forecast period.
Technavio's research report will provide insights into the current market share of each segment along with growth projections for the next five years. Request our Free Sample Report
Ready Mix Cement Market In Saudi Arabia: Market Players Analysis
When it comes to market growth, leading companies are capitalizing on this growth phase. Some of the prominent names are Al Falwa Concrete Ltd.,Al Houssain and Al Afaliq Co.,Al Kathiri Holding Co.,Al Kifah Ready-mix and Blocks,Al Sharq Ready Mix Concrete Co.,Alansari Holding Co.,Bina Ready Mix Concrete Products,Eastern Trading and Const. Est.,Green Concrete Co.,Mastour ReadyMix,Premco Ready Mix,Qanbar Readymix,etc which comes with wide range of offerings.
Technavio's research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.
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