Saudi Arabia Dump Truck Market Assessment, By Tonnage [30 Tons and Below, 30.1 to 50 Tons, 50.1 to 75 Tons, 75 Tons and Above], By End-use Type [Construction, Road and Infrastructure Construction, Waste Management, Mining and Quarrying, Others], By Vehicle Propulsion Type [Electric, ICE], By Region, Opportunities and Forecast, 2017-2031F

Saudi Arabia dump truck market is anticipated to witness a CAGR of 11.54% during the forecast period 2024-2031, growing from USD 1.61 billion in 2023 to USD 3.86 billion in 2031. The market has observed significant growth in recent years and is expected to expand in the coming years owing to a growing demand for efficient material transportation, considerable increase in construction and mining industries, rising government investment in infrastructure and transportation development, and introduction of mining sites and new coalfields. The demand for dump trucks in Saudi Arabia is growing more significantly in the forecast period owing to rapid urbanization, technological advancement in dump trucks, significant expansion in transportation and logistics, and the introduction of energy-efficient vehicles. In addition, the introduction of electric vehicles to reduce the negative impacts of mining and excavation on the environment extends profitable opportunities for the key companies in the forecast period. Furthermore, the Saudi government is aiming for private-public partnerships to fund and complete these projects, attracting expertise and foreign direct investments. This strategic move is estimated to introduce different job opportunities and stimulate economic growth, resulting in making Saudi Arabia a construction and infrastructure development hub. The construction surge across Saudi Arabia, propelled by ambitious projects including Red Sea, NEOM, and Qiddiya as part of Vision 2030, is propelling an increase in pre-construction activities. Additionally, in 2021, Saudi Arabia planned an investment of USD 147 billion in transport and logistics over the coming nine years as the Crown Prince intends to transform the Kingdom into an international aviation hub, further opening opportunities for partnership with the private sector.

Key participants in the Saudi Arabia dump truck market are investing significantly in different research and development activities to enhance the performance of trucks and integrate advanced technologies to allow safe driving. Companies in the market are significantly offering dump trucks to their customers to address the rising demand from the construction sector.

For instance, in November 2022, GCC Olayan (distributor of Scania CV AB) announced the delivery of Scania Tipper Trucks to one of its customers in the southern region of Saudi Arabia to meet the rising demand from the construction sector and expand its market presence.

Increase in Pre-Construction Activities Drive the Saudi Arabia Dump Truck Market Growth

In Saudi Arabia, the construction sector comprises a mix of infrastructure advancements and hospitality developments. The boost in construction activities, driven by projects including Red Sea, NEOM, and Qiddiya as part of Vision 2030, propels an increase in pre-construction activities. The demand for dump trucks in Saudi Arabia is rising significantly due to increased exploration activities, various programs and initiatives to boost mining activities, and substantial investment in infrastructure development. The increase in infrastructure-related projects, surge in mining production activities due to growing requirements for natural resources and minerals, and escalating private participation in infrastructure, generated more requirements for dump trucks in Saudi Arabia.

For instance, in May 2024, Retal Urban Development Company received a contract worth USD 773 million to deliver a substantial number of residential units at ROSHN Group’s ALDANAH project in Dhahran to address Saudi Arabia's rising housing need.

Surging Activities Concerning Road Construction Propel Market Demand

The significant rise in road construction activities across Saudi Arabia and the launch of national infrastructure funds are expected to drive the demand for dump trucks in the forecast period. The Saudi government intended to expand road capacity for trade and tourism purposes and improve and develop the road network throughout the Kingdom, which fosters the Saudi Arabia dump truck market’s growth. Companies in the market are efficiently investing in advancing the performance of dump trucks to address the rising demand. Furthermore, the Saudi government executed different road construction projects to foster stronger connections between regions.

For instance, in July 2024, the Roads General Authority (RGA) executed a significant road construction project to enhance road connectivity and support the Kingdom’s prominent position in this segment.

Government Policies and Regulations Push Market Growth in Saudi Arabia

The government of Saudi Arabia is introducing different programs and initiatives to foster mining activities and provide rapid financial support to small- and medium-sized mining companies to encourage exploration activities, which is projected to drive the Saudi Arabia dump truck market growth in the forecast period. In addition, the government is substantially investing in transportation infrastructure, including bridges, roads, and tunnels, propelling the market growth. Dump trucks are significant for transporting materials, including sand, gravel, and asphalt, from and to construction locations. Hence, rising investment by the government in construction projects drives the Saudi Arabia dump truck market demand for hauling abilities and meeting project specifications and deadlines. In addition, companies in the market are discovering different options, including hydrogen fuel cell-powered and electric dump trucks, to contribute to net-zero carbon emissions and address stringent environmental regulations. Furthermore, the Saudi Arabia government is investing in developing airports and road infrastructure to position Saudi Arabia as a regional aviation hub.

For instance, in September 2023, the Red Sea Project’s new airport opened in the country to expand tourism infrastructure and to handle 330 million passengers at its airport by 2030.

Construction Segment Dominates the Saudi Arabia Dump Truck Market

Construction segment holds the largest market share in Saudi Arabia dump truck market, owing to the development of new infrastructure and expansion across the country. The usage of dump trucks is rising in the construction industry as these trucks are designed to address different operational requirements, including the transportation of construction waste, several popular products, and payloads. In addition, companies in the market are introducing advanced and innovative dump trucks featuring configurations with varying numbers of axles to accommodate different payload capacities and offering a stable solution for unloading items. Furthermore, the growing number of construction projects in Saudi Arabia is driving the demand for dump trucks that provide a practical solution for small-scale or residential projects.

For instance, in June 2024, the Board of Directors of NEOM announced the development of Magna, a luxury lifestyle coastal destination and world-class architecture located on the Gulf of Aqaba coastline, which will be developed with a core focus on cutting-edge technology.

Download Free Sample Report

30 Tons and Below Tonnage Capacity is Expected to Register the Largest Market Share

The Saudi Arabia dump truck market is set to experience significant growth, particularly in the 30 tons and below segment. This is largely due to the extensive use of these trucks in crucial infrastructure development and demolition projects. The rising demand for dump trucks having a tonnage capacity of 30 tons and below is a testament to their efficiency in load handling, material movement, and optimal balance of capacity and maneuverability. Market players are responding to this demand by introducing innovative dump trucks that can handle a wider range of materials and are equipped with powerful engines for heavy load handling. For instance, Saleh Abdulaziz Al Rashed & Sons, a leading manufacturer of high-quality dump trucks, offers a variety of dump trucks, including 30 tons and below, with cutting-edge technology to meet exact requirements of end users.

Future Market Scenario (2024-2031F)

1. The growing population increases demand for construction activities for commercial and residential determinations, propelling the real estate industry’s growth, which further drives the Saudi Arabia dump truck market.

2. Rising infrastructure development in urban locations and investments in the real estate industry are projected to propel the demand for dump trucks in Saudi Arabia.

3. The considerable increase in mining activities owing to the higher requirement for energy and resources is propelling the Saudi Arabia dump truck market demand.

Report Scope

“Saudi Arabia Dump Truck Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of Saudi Arabia dump truck market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 11.54% between 2024 and 2031
Revenue Forecast in 2031	USD 3.86 billion
Segments Covered	Tonnage, End-use Type, Vehicle Propulsion Type
Regions Covered	Riyadh, Makkah, Eastern Province, Tabuk, Rest of Saudi Arabia
Key Companies Profile	Mercedes-Benz Group AG, AB Volvo, IVECO Group N.V., Hyundai Motor Company, Tata Motors Limited, Ford Motor Company, Traton SE, Hino Motors Limited, SANY Group Co., Ltd.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, Saudi Arabia dump truck market has been segmented into the following categories: 

• By Tonnage
  • 30 Tons and Below
  • 1 to 50 Tons
  • 1 to 75 Tons
  • 75 Tons and Above
• By End-use Type
  • Construction
  • Road and Infrastructure Construction
  • Waste Management
  • Mining and Quarrying
  • Others
• By Vehicle Propulsion Type
• Electric
• ICE
• By Region
  • Riyadh
  • Makkah
  • Eastern Province
  • Tabuk
  • Rest of Saudi Arabia

Key Players Landscape and Outlook

Companies in Saudi Arabia dump truck market are significantly investing in different research and development activities to enhance the functioning and performance of dump trucks to handle larger loads and operate effectively in different terrain conditions. Manufacturing firms in the market are introducing trucks personalized to precise construction tasks, including off-road capabilities for distant locations and addressing different project demands. In addition, companies in the market are significantly adopting different growth strategies, including joint ventures, new product launches, mergers and acquisitions, partnerships, collaborations, and others to expand their market presence and product portfolio.

For instance, Mercedes-Benz Group AG features different dump trucks with enhanced features and robust capabilities that are personalized to the demanding conditions of Saudi Arabia’s roads.

Key Players Operating in Saudi Arabia Dump Truck Market are:

• Mercedes-Benz Group AG
• AB Volvo
• IVECO Group N.V.
• Hyundai Motor Company
• Tata Motors Limited
• Ford Motor Company
• Traton SE
• Hino Motors Limited
• SANY Group Co., Ltd.

Markets and Data’s reports answer the following questions:

• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

If you can't find what you're searching for or have any custom requirements for Saudi Arabia dump truck market, you may approach our team at info@marketsandata.com.