Middle East Construction Equipment Market (2020-2026) | Size, Share, Revenue, Forecast, Trends, Growth, industry, Outlook & COVID-19 IMPACT

Latest 2023 Developments of the Middle East Construction Equipment Market

The Middle East Construction Equipment Market is experiencing some notable developments. Some ongoing developments in the market include:

Rising Investment in Infrastructure: The continent is witnessing a rise in investment in infrastructure projects, and it is stimulating the demand for construction equipment. This sector in the region plays a major role in the Middle East Construction Industry. Many nations in the region, like the UAE and Saudi Arabia, have announced large infrastructure projects, including the construction of highways, airports, and ports.

Growth of Rental Market: Rental market for construction equipment is rising in the continent since players are looking to increase operational efficiency and decrease their capital expenditure. This trend is projected to continue since construction players seek to minimize costs and optimize equipment utilization, which is helping in stimulating the Middle East Construction Equipment Growth.

The emergence of Virtual Technologies: Digital technologies like drones, building information modelling (BIM), and telematics are becoming prevalent in the Middle East Construction Equipment Industry. These technologies are aiding players to reduce downtime and enhance operational efficiency.

Concern on Sustainability: Sustainability is becoming a major focus area in the construction sector of the continent. Governments as well as construction companies are constantly looking for ways to decrease their environmental footprint as well as minimize waste. This trend is fueling the adoption of sustainable construction equipment and practices.

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Middle East Construction Equipment Market Synopsis

The Middle East construction equipment market is likely to witness moderate growth primarily driven by government initiatives towards new development projects such as the expansion of metro networks and airports as well as the construction of smart cities, shopping malls and hotels in the region. Additionally, the recovery of oil prices has resulted in growth in the construction sector with increased infrastructure spending in major cities such as UAE and Qatar for upcoming events such as Dubai Expo 2020 and FIFA world cup 2022. These factors would further spur the growth of the construction equipment market in the Middle East region. However, the global crisis as a result of the spread of COVID-19 has resulted in a slowdown of economic activity in the region. The region has witnessed shutdown or delay of major construction projects across several cities which may hinder the growth of the construction equipment market in the region over the coming years.

According to 6Wresearch, the Middle East Construction Equipment Market size is expected to demonstrate growth during 2020-2026. Recent initiatives taken by governments of several countries to revive the region’s economy from a worldwide crisis would support the growth of the construction equipment market in the Middle East region. For instance, in March 2020, the UAE Central Bank has allocated an AED100bn ($27bn) incentive package for SMEs and local banks to revive and develop the construction sector of the region. Additionally, the central bank also declared to offer 50bn dirhams through collateralized loans at zero cost to all banks operating in the UAE, as well as an additional 50bn dirhams will be freed up from lenders’ capital buffers. These initiatives would support the operations of banks and businesses in the region and in turn, would spur the growth of the construction sector over the coming years.

Mobile cranes and earthmoving equipment dominate the overall Middle East construction equipment market share due to their wide application at construction sites for excavation and lifting heavyweights. Additionally, the construction application segment is likely to witness a substantial rise as a result of numerous upcoming infrastructure projects in the region over the coming years.

The Middle East construction equipment market report thoroughly covers the market by types, applications, and countries including Qatar, UAE, Saudi Arabia, and the Rest of the Middle East region. The Middle East construction equipment market outlook report provides an unbiased and detailed analysis of the ongoing Middle East construction equipment market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.

 

Key Highlights of the Report:

• Middle East Construction Equipment Market Overview
• Middle East Construction Equipment Market Outlook
• Middle East Construction Equipment Market Forecast
• Historical Data of Middle East Construction Equipment Market Revenues and Volumes for the Period 2016-2019.
• Market Size & Forecast of Middle East Construction Equipment Market Revenues and Volumes, Until 2026.
• Historical Data of Middle East Construction Equipment Market Revenues and Volumes, by Types, for the Period 2016-2019.
• Market Size & Forecast of Middle East Construction Equipment Market Revenues and Volumes, by Types, Until 2026.
• Historical Data of Middle East Construction Equipment Market Revenues and Volumes, by Applications, for the Period 2016-2019
• Market Size & Forecast of Middle East Construction Equipment Market Revenues and Volumes, by Applications, Until 2026
• Historical Data of Qatar Construction Equipment Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of Qatar Construction Equipment Market Revenues and Volumes, Until 2026.
• Historical Data of UAE Construction Equipment Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of UAE Construction Equipment Market Revenues and Volume Share, Until 2026.
• Historical Data of Saudi Arabia Construction Equipment Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of Saudi Arabia Construction Equipment Market Revenues and Volume Share, Until 2026.
• Historical Data of Rest of the Middle East Region Construction Equipment Market Revenues and Volumes, for the Period 2016-2019.
• Market Size & Forecast of Rest of the Middle East Region Construction Equipment Market Revenues and Volume Share, Until 2026.
• Market Drivers and Restraints
• Middle East Construction Equipment Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Middle East Construction Equipment Market Share, By Countries
• Middle East Construction Equipment Market Share, By Companies
• Middle East Construction Equipment Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Middle East construction equipment market report provides a detailed analysis of the following market segments:

By Types:

• • Mobile Cranes
  • Construction Tractor and Bulldozer
  • Earthmoving Equipment
    • Loaders
    • Excavators
    • Motor Grader
  • Aerial Work Equipment
    • Articulated Boom Lifts
    • Telescopic Boom Lifts
    • Scissor Lifts
  • Material Handling Equipment
    • Telescopic Handlers
    • Forklifts
  • Dump Trucks
  • Road Construction Equipment
    • Pavers
    • Road Rollers

By Applications:

• Corporate Enterprise
• Oil and Gas
• Mining
• Others (Municipality, Road Construction)

By Key Countries:

• Qatar
• UAE
• Saudi Arabia
• Rest of the Middle East
• Kuwait
• Oman
• Turkey
• Rest of the Middle East (Iraq, Lebanon, Bahrain, Jordan)