Egypt Construction Equipment Rental Market (2022-2028) | Industry, Share, Size, Analysis, Trends, Revenue, Growth, Value, Outlook, Segmentation & COVID-19 IMPACT

Egypt Construction Equipment Rental Market Synopsis

Egypt Construction Equipment Rental Market grew significantly in recent years on account of government expenditure on infrastructure development activities. However, the Egypt was negatively impacted by COVID-19 in 2020, owing to the contraction of the construction sector. According to the Central Bank of Egypt (CBE), the construction industry's value-addition contracted by 5.7% year on year (YoY) in Q2 2020, due to the disruption caused by the COVID-19 epidemic and the six-month ban on new construction licenses for private buildings in major cities, resulting in a decline in demand for construction equipment. Furthermore, the Ukraine-Russia war has deepened economic uncertainty as the country’s debt to GDP ratio has risen to 93.8%, which in turn consumed 54% of the state’s budget for loan and interest repayment.  Budget cuts of major projects coupled with restrictions on import of machinery would contract the growth of the rental construction equipment market in the near future.

According to 6Wresearch, Egypt Construction Equipment Rental Market size is projected to decline at a CAGR of 0.9% during 2022-28. Egypt construction equipment is expected to decline in forecast years owing to economic downfall of country. From March to May 2022, the foreign exchange reserves decreased from $37 billion to $35.5 billion. The currency devaluation of more than 14% against USD coupled with import restrictions imposed by Egyptian government has soared the prices of rental construction equipment. In Egypt, construction equipment market is a import based market as all of the construction machinery whether new or used ones are imported from Europe and other countries. The conflict between Ukraine and Russia has also made the economy more unstable since the country's debt to GDP ratio rose to 93.8%, necessitating the allocation of 54% of the national budget for loan and interest repayment. Rising prices of construction material and lack of liquidity in economy would further decline demand for rental construction equipment.

Market by Types

The earthmoving equipment segment held 33.7% construction equipment rental market share in 2021. This is attributable to large infrastructure development projects such as King Salman Corridor Project, the Firdous Highway, and the duplication of Matrouh / Siwa Road, two fast electric train projects, one of which links Ain Sokhna with the new administrative capital and the new city of El Alamein, and the second connects the tenth of Ramadan in the Administrative Capital. This segment will grow more in the coming years.

Market by Region

The Nile valley and the delta accounted for the highest revenue share in Egypt construction equipment rental market on the back of the construction of ‘8 new cities’ in the region such as New Administrative Capital, Galala City, Mostakbal City, New Alamein City, New Ismailia City, New Aswan City, New Damietta City, New Mansoura City The region will continue dominating the market.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2022
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Egypt Construction Equipment Rental Market Overview
• Egypt Construction Equipment Rental Market Outlook
• Egypt Construction Equipment Rental Market Forecast
• Historical Data and Forecast of Egypt Construction Equipment Rental Market Revenues for the Period 2018-2028F
• Historical Data and Forecast of Egypt Construction Equipment Rental Market Revenues, By Types for the Period 2018-2028F
• Historical Data and Forecast of Egypt Construction Equipment Rental Market Revenues, By Regions for the Period 2018-2028F
• Market Drivers and Restraints
• Market Trends
• Industry Life Cycle
• Egypt Construction Equipment Rental Market – Porter’s Five Forces
• Market Opportunity Assessment
• Company Shares
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

Thereportprovides a detailed analysis of the following market segments:

By Types

• Crane
• Bulldozer
• Earth Moving
• Material Handling
• Dump Trucks
• Forklift

By Region

• The Nile Valley And The Delta
• The Western Desert
• The Eastern Desert
• The Sinai Peninsula