The GCC construction equipment market size will reach 99,829 units by 2027

In-depth analysis and data-driven insights into the impact of COVID-19 included in the GCC Construction Equipment Market report.

ChicagoAnd December 2, 2021 /PRNewswire/ – file Construction Equipment Market in GCC It is expected to grow at a compound annual growth rate of over 7.34% during the period 2021-2027.

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The main points of the report:

  1. The GCC construction equipment market is expected to reach revenue $3722.2 Million USD by 2027.

  2. The GCC construction sector is expected to register strong growth during the forecast period 2021-2027, given the robust pipeline of projects across transportation infrastructure such as airports, railways, highways, ports and the construction of new cities across the GCC.

  3. The GCC construction equipment market is expected to grow significantly at a CAGR of 7.34% during the forecast period with the high demand for earth moving equipment segment.

  4. Among the countries of the Gulf Cooperation Council, Kingdom Saudi Arabia It is still the largest market for infrastructure projects. Thus, resulting in the highest market share in the construction equipment market.

  5. The outbreak of COVID-19, as well as the decline in global oil demand and prices, had a significant impact on the fundamental dynamics of the construction equipment market.

  6. Governments in the countries of the Gulf Cooperation Council are working to reduce the dependence of their economy on oil and gas and shift it towards construction, industrialization and infrastructure development.

  7. The GCC construction equipment market is expected to be driven by the increasing demand for large capacity cranes in the modular construction sector, further expanding its attractiveness in the GCC region.

  8. The need for product differentiation has led to technology upgrade like Automatic Transmission System (AHS), Telematics etc. IoT integration with construction equipment to enable detection of unplanned maintenance and repairs is gaining popularity in the market.

  9. The construction equipment market is highly competitive and features many OEMs including Caterpillar, Komatsu, Liebherr Middle East FZE, Hitachi Construction Machinery Middle East Corp, Volvo Construction Equipment, Zoomlion Heavy Industry Science & Technology, JCB, Doosan Heavy Industries & Construction Co. Limited (Dubai branch), Sany Group and Kobelco Construction Machinery Middle East and Africa FZCO among others.

Main offers:

  • Market Size and Volume Forecast | 2021-2027

  • Market Size and Revenue Forecast | 2021-2027

  • Market dynamics – leading trends, growth drivers, constraints and investment opportunities

  • Market Segmentation – Detailed Analysis by Type, Application and Country

  • Competitive landscape – 10 major vendors and 5 other vendors

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GCC Construction Equipment Market – Segmentation

  • Excavators are expected to capture the major market share in the coming period due to increased government investments in construction activities, such as roads, highways, metro and airports. Although there is less adoption of the technology, there is a growing trend towards technologically advanced drilling rigs in Saudi Arabia and the United Arab Emirates. In addition, an increase in renovation projects for residential and hospitality construction will push the market further.

  • Increasing investment in industrial ores processing plants through new mining projects Kingdom Saudi Arabia The mining sector is poised for significant growth during the forecast period. Kingdom Saudi Arabia It is still an important player in the global mining industry. An abundant and diverse group of more than 48 mineral and mineral resources has made the Kingdom of Saudi Arabia the largest producer of gold in the Kingdom of Saudi Arabia Middle east.

  • The UAE has unveiled a new industrial strategy called “Employment”. 300 billion dollarsWhich aims to double the contribution of the industrial sector to the country’s general economic output 82 billion dollars by 2031, resulting in an increased demand for construction equipment used in the manufacturing sector.

Construction Equipment Market in GCC Countries by Equipment Transportation

GCC construction equipment market by application

  • Building

  • manufacturing

  • Mining

  • Aharon

Construction Equipment Market in GCC Countries by Countries

  • Kingdom Saudi Arabia

  • The United Arab Emirates

  • Qatar

  • Other GCC Countries

Construction Equipment Market in the GCC – Dynamics

The significant rise in the construction sector and the support from the government in the development of housing market in the GCC countries will drive the construction equipment market. The GCC countries are stepping up their efforts to improve the ability of low- and middle-income families to purchase affordable homes by bridging the gap between strong demand and weak supply of housing units for lower-income groups. In line with the Vision 2030 initiative, Kingdom Saudi Arabia Unprecedented measures by announcing plans to build one million new housing units on top of the existing ones. Housing policy in the UAE has mainly focused on providing housing benefits and services to low-income Emiratis through the federal government and various entities established within local governments. Similarly, according to the general budget for the fiscal year 2019, Sultanate of Oman erected 90 million Omani riyals ($233.8 million) for housing projects. Kuwait It is investing in building an additional 45,000 housing units as part of a five-year plan (2015-2020) to meet the country’s housing needs over the next three to five years.

Key drivers and trends fueling market growth:

  • Prefab / modular construction: expanding its attractiveness in the GCC region

  • Saudi Arabia, United Arab Emirates and Sultanate of Oman Attracting high investments for infrastructure development

  • Extensive investment in renewable energy projects

  • Increasing demand for large capacity cranes in the construction sector

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Why should you buy this report?

This report is among the few in the market that presents an opportunity analysis forecast and outlook in terms of:

  • Size (unit sales)

  • Value (in US dollars)

  • Gain competitive information about the economic scenario, advantages in major projects and investments of the GCC countries, dynamics, and market share

  • Examples of the latest technology

  • Get presentation-ready format and easy-to-interpret data

  • Empowering decision makers to make informed and profitable decisions

  • Get expert quantitative and qualitative analysis on value/volume growth forecast of GCC construction equipment market share

  • Complete supply chain analysis

  • Get an analysis of the impact of COVID-19 on the market

major sellers

  • Larva

  • Komatsu

  • Liebherr

  • Hitachi construction machinery

  • Volvo Construction Equipment

  • Zoomlion Heavy Industry Science and Technology

  • JCB

  • Doosan

  • sani group

  • Kobelco . construction machinery

Other notable sellers

explore industrial machinery Profile to learn more about the industry.

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Source: Arizton Advisory & Intelligence

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