LONDON--(BUSINESS WIRE)--Technavio’s latest research report on the cement market in Saudi Arabia forecast the market to register a CAGR of over 5% during the forecast period.
The construction of low power-consuming cement plants will be one of the major trends in the cement market in Saudi Arabia during 2018-2022. The cement vendors are focusing on ways to counter the expected increase in production costs due to the proposed cut in energy subsidies during the forecast period. The major vendors have already started investing in new infrastructure to increase production efficiency and reduce power consumption.
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According to Technavio analysts, one of the key market drivers for the cement market in Saudi Arabia is the launch of Saudi Vision 2030:
Cement market in Saudi Arabia: Launch of Saudi Vision 2030
In 2016, Vision 2030, a blueprint for Saudi Arabia’s long-term goals and expectations was announced by Saudi Arabia. This project focuses on increasing the country’s economic development by minimizing its dependence on the oil resources. This is expected to boost the growth of the construction segment for both residential and non-residential projects due to the large infrastructural development.
According to a senior analyst at Technavio for research on construction, “The growth in the construction segment in Saudi Arabia will be a major cement market driver during the forecast period. The cement market in Saudi Arabia will be driven by the expected growth in infrastructure for religious tourism, healthcare, and real estate through proposed non-citizen ownership, retail, and development of cities and sectors.”
Cement market in Saudi Arabia: Segmentation analysis
The cement market analysis segments the market in Saudi Arabia by application (residential and commercial) and by region (central Saudi Arabia, eastern Saudi Arabia, southern Saudi Arabia, and western Saudi Arabia). This cement market forecast report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the residential segment held the largest cement market share in Saudi Arabia in 2017, contributing to over 62% of the market. This application segment will dominate the global market throughout the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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