The import of trucks with lifting equipment to Saudi Arabia is projected to decline significantly over the next five years. In 2023, the value stood at $62.25 million USD. In 2024, the forecasted value is $54.153 million USD, representing a year-on-year decrease of approximately 13%. Further declines are expected, with imports falling to $46.173 million USD in 2025 (a 14.7% decrease from the previous year), $38.352 million USD in 2026 (a fall of 16.9%), $30.688 million USD in 2027 (a decrease of 19.9%), and $23.178 million USD in 2028 (a further 24.5% drop). The compound annual growth rate (CAGR) for the 2024-2028 period reflects an average annual decrease of approximately 18.5%.
Future trends to watch for include potential market shifts due to advancements in automated and electric lifting equipment, changes in trade policies, and infrastructure developments within Saudi Arabia. Additionally, economic diversification efforts may impact the demand for such specialized trucks.
