The cement market share in Saudi Arabia is expected to post an incremental growth of USD 1.89 billion, accelerating at a CAGR of 5.98% during the forecast period. Technavio's research report identifies and analyses the growth drivers that will boost the market growth. It also provides a thorough understanding of all the segments, trends, and challenges that are likely to have an impact on the future prospects of the market in focus.
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One of the key drivers that will boost cement market growth is the launch of Saudi vision 2030. In addition, the construction of low-power-consuming cement plants is one of the major cement market trends in Saudi Arabia which will positively impact the market growth. However, the ex-pat levy on foreign nationals will be a major challenge for the market vendors.
Technavio’s research reports provide a comprehensive analysis of all the other factors that will drive market growth during the forecast period. In addition to market drivers, the research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario.
The cement market in Saudi Arabia is segmented by application (residential and commercial) and location (central, western, southern, eastern, and northern). The cement market growth in Saudi Arabia by the residential segment will be significant during the forecast period.
The cement market in Saudi Arabia report provides insights into the current market share of each segment along with growth projections for the next five years.
The market is fragmented due to the presence of several players. Al Jouf Cement Co., Al Madina Cement Co., Al Madina Cement Products Co, Al Rashed Cement Co., Al Safwa Ltd., Arabian Cement Co S.A.E, Arabian Qatrana Cement., Epcco Publishing Group Ltd., Hail Cement Co., Najran Cement Co., Northern Region Cement Co., Qassim Cement Co., Saudi Cement Co., Southern Province Cement Co., Tabuk Cement Co., Umm Al Qura Cement Co., United Cement Industrial Co., Yamama Saudi Cement Co., and Yanbu Cement Co. are some of the major cement market vendors in Saudi Arabia.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. The customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download the Free PDF Sample Report
