Heavy Equipment Forum sees deals signed, licenses issued worth over SAR 4B

Logo of Industrial Center

The Heavy Equipment Connect Forum in Saudi Arabia’s Eastern Province witnessed the signing of more than 10 agreements and memoranda of understanding, along with the issuance of four industrial licenses, between investors and manufacturers.

The investment value of the signed deals and issued licenses reached over SAR 4 billion, said Khaled Al-Homoud, Executive Vice President of Machinery & Equipment at the Industrial Center.

He told Al Eqtisadiah newspaper that this reflects a shift from planning to actual implementation in localizing the heavy equipment industry in Saudi Arabia.

He added that Saudi Arabia’s heavy equipment market is considered highly promising, supported by major infrastructure projects as well as preparations for the 2034 FIFA World Cup and Expo Riyadh 2030.

The official expects the market to reach around SAR 22 billion annually, exceeding SAR 100 billion over the next four to five years.

Al-Homoud said the center conducted analytical studies of the heavy equipment market and its supply chains, identifying 16 investment opportunities with an estimated value of up to SAR 8 billion. These opportunities span final equipment manufacturing, key components, and high-demand spare parts in the local market.

He noted that about 256,000 heavy equipment units are currently operating in the Saudi market, highlighting strong operational demand and underscoring the need to accelerate industry localization and reduce reliance on imports, in line with the National Industrial Strategy and Saudi Vision 2030.

The Heavy Equipment Connect Forum, held from Feb. 2–4, 2026 over an area of more than 40,000 square meters, is considered the largest of its kind in the region. It brought together manufacturers, contractors, financiers, and investors to help build an integrated heavy equipment industrial ecosystem.