Saudi Arabia Agriculture Equipment Market Size Set to Expand at Significant CAGR of 6.42% Touching USD 376.24 Million by 2030

Published | 25 June 2024

Saudi Arabia Agriculture Equipment Market is flourishing because of the government’s favorable initiatives for ensuring food security and rapid adoption of advanced technologies, such as precision farming, agricultural drones, and automation.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia Agriculture Equipment Market size at USD 282.17 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Agriculture Equipment Market size to expand at a CAGR of 6.42% reaching a value of USD 376.24 million by 2030. By volume, BlueWeave estimated the Saudi Arabia Agriculture Equipment Market size at 15.8 thousand units in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Saudi Arabia Agriculture Equipment Market size to expand at a CAGR of 6.23% reaching the volume of 23.4 thousand units by 2030. The implementation of smart equipment, growing mechanization in agriculture, and rapid integration of cutting-edge technology are key growth drivers for the Saudi Arabia Agriculture Equipment Market. The market is also expected to be driven by favorable government regulations and an increasing emphasis on sustainable agricultural techniques during the period in analysis.

Opportunity: Rising demand for agriculture equipment through OEMs

The Saudi Arabia Agriculture Equipment Market, based on the sales channel, is segmented into original equipment manufacturers (OEMs) and aftermarket. The OEMs segment is the dominant sales channel in the Saudi Arabia Agriculture Equipment Market. OEMs offer better quality equipment and manufacturer-backed warranty. They also establish specialty stores to provide easy access to their processes and simplify the purchasing process as well. However, aftermarkets are gaining significant traction owing to the cheaper availability of agriculture equipment.

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Saudi Arabia Agriculture Equipment Market

Segmental Coverage

Saudi Arabia Agriculture Equipment Market – By Application

Based on application, the Saudi Arabia Agriculture Equipment Market is segmented into land development, plant protection, threshing & harvesting, and after agro-processing. The land development segment holds the largest share in the Saudi Arabia Agriculture Equipment Market by application. The market has a strong demand for tractors, levelers, harvesters, and other land preparation equipment. Land preparation is an important process in agriculture, particularly in a deserted region, such as Saudi Arabia, as it prepares the land for seeding and plantation, which promotes better plant growth.

Competitive Landscape

Major players operating in the Saudi Arabia Agriculture Equipment Market include Agriculture Machinery & Materials Company, TECHNICAL Co. For Manufacturing Agricultural Equipments Ltd, AKEL Trading & Industrial Co., AgriPak, Equipments Machines, Kubota Saudi Arabia Co., and Malik Agro Industries. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in the Saudi Arabia Agriculture Equipment Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Saudi Arabia Agriculture Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Agriculture Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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