Morocco Construction Equipment Market (2023-2029) | Size, Share, Trends, Revenue, Analysis, Growth, industry, outlook & COVID-19 IMPACT

Morocco Construction Equipment Market Synopsis

The Morocco Construction Equipment Market is estimated to grow at a rapid pace during the forecast period. However, the industry in 2020 observed decline due to pandemic as the economic were halted to curb the spread of COVID as the government enforced lockdown therefore, the construction activities were stopped, and the construction industry recorded decline of 3.8% in real terms thereby declining the demand for construction equipment in Morocco.

The market started to recover slightly in 2021 as the effect of the pandemic subsided and the construction industry registered growth of 10.6% in real terms in 2021. Furthermore, in 2022, 18 hotel projects comprising of 2,743 rooms opened that led to increase in demand for construction equipment in the period 2021-22.

According to 6Wresearch, Morocco Construction Equipment Market revenue size is anticipated to grow at a CAGR of 5.7% during 2023-2029. The $4.16 billion annual infrastructure budget announced in 2020 till 2030 by Ministry of Equipment, Transport, Logistics, and Water is expected to drive the market for construction equipment in Morocco. The initiatives such as Airports Development 2030, 2040 Rail strategy along with the construction of hotel projects such as Waldorf Astoria Tanger, Lincoln Casablanca would grow the Morocco construction equipment market in the upcoming years. In the upcoming years, the Morocco construction equipment market is expected to witness growth on the back of construction of hotels such as Waldorf Astoria Tanger, DoubleTree by Hilton Ben Guerirour Seasons Hotel Rabat. Moreover, in 2020, The Ministry of Equipment, Transport, Logistics, and Water of Morocco approved a $4.16 billion yearly infrastructure budget till 2030 that would further boost the market for construction equipment in Morocco.

The majority of Morocco Construction Equipment Industry which is a key part of Africa Construction Equipment Market rely on outdated equipment that have an average lifecycle of 9 years however, the machinery used in Morocco are quite old. The demand for old machines in Morocco also gains prominence as old machines are much cheaper compared to the newer construction machines. Moreover, in Morocco there is absence of regulatory framework to monitor the old equipment used in the construction sector therefore the construction equipment even after they become obsolete are still being used. Henceforth, the sale of the new construction equipment would suffer in Morocco.

Market by Types

Cconstruction equipment market in Morocco in 2022 in terms of revenue was dominated by earth moving equipment on the back of Tiznit-Dakhla highway project that is under construction and expected to be completed by 2023.

Material handling equipment acquired the maximum volume share in 2022 on the back of rise in infrastructure projects including hotels, roads etc.

Market by Applications

Construction is expected to achieve maximum growth in the forecasted period owing to the construction of highways, strong hotel pipeline, commercial buildings. The upcoming hospitality projects such as Waldorf Astoria Tanger, Lincoln Casablanca would further grow the revenue share of construction sector in the subsequent years.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Morocco Construction Equipment Market Overview
• Morocco Construction Equipment Market Outlook
• Morocco Construction Equipment Market Forecast
• Historical Data and Forecast of Morocco Construction Equipment Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of Morocco Construction Equipment Market Revenues, By Types for the Period 2019-2029F
• Historical Data and Forecast of Morocco Construction Equipment Market Revenues, By Applications for the Period 2019-2029F
• Market Drivers, Restraints
• Market Trends
• Industry Life Cycle
• Morocco Construction Equipment Market – Porter’s Five Forces
• Market Opportunity Assessment
• Company Ranking
• Market Competitive Benchmarking
• Company Profiles 
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Crane
• Bulldozer and Construction Tractor
• Earthmoving Equipment
• Material Handling Equipment
• Dump Truck
• Aerial Work Platform
• Road Construction Equipment

By Applications

• Construction
• Mining
• Oil & Gas
• Others (Municipality, Road Construction etc.)

Morocco Construction Equipment Market: FAQs