6wresearch logo

UAE construction equipment rental market revenues to grow at CAGR (2018-24) of 3.3%

July 11, 2018

According to *Tradearabia news report, the UAE construction equipment rental market revenues are projected to grow at a CAGR of 3.3 per cent during 2018-24, according to a study.

The market has registered substantial growth as a result of increasing construction activities as well as the strengthening of commercial, hospitality and residential sectors, said the 6Wresearch report.

Construction sector growth is attributed to increased infrastructure spending for World Expo 2020. Further, to avoid the cost of purchasing new equipment and to evade maintenance expenses, construction companies in UAE are opting for renting the equipment, said the report titled "UAE Construction Equipment Rental Market (2014-2024), which provides in-depth analysis with 81 figures and 59 tables covered in more than 190 pages.

Projects such as the $37-billion Yas Island Development and the $22-billion Masdar City which are expected to be completed by 2025 would increase the demand for construction equipment, it said.

Moreover, Dubai's overall budget has been increased by nearly 20 per cent in view of the upcoming World Expo 2020, from $13.1 billion (Dh47.31 billion) in 2017 to $15.5 billion (Dh56.6 billion) in 2018. Out of this budget, around 21 per cent was allocated to infrastructure development. With increasing infrastructure spending, the rental equipment market would also witness growth over the coming years, it said.

According to Ravi Bhandari, assistant manager, 6Wresearch, earth moving equipment is the key revenue contributing segment in the UAE construction equipment rental market on account of their high utilisation at construction sites.

"Other major equipment includes cranes and material handling equipment. The market for these equipment is expected to spur on account of infrastructure development in the country," Bhandari said.

Vikrant Tomar, research associate, research and consulting, 6Wresearch, said: "By regions, Dubai contributes highest revenue share in the UAE construction equipment rental market and is projected to maintain its dominance during the forecast period on the back of massive investment in hospitality and transportation sectors under Dubai's tourism vision 2020.

"With leading players enlarging their fleets with new and innovative products, the market for construction equipment rental would grow over the next six years," Tomar added.

Some of the major companies in UAE construction equipment rental market include: Mohammed Abdulrahman Al-Bahar, Al Faris Equipment Rentals, Al Mutawa, and Al Jaber Leasing Service.

Media Source : Ventures Onsite

      Browse More Report

India 15HP & Above Coupled Self Priming Pumps Market (2018-2024)

Market Forecast By Types (Electric and Diesel), By Horse Power Range (15-100 HP, 100.1-200 HP and Above 200 HP), By Head Range (Below 30 m, 30-50 m, 50.1-100 m, 100.1-200 m and Above 200 m), By Applications (Industrial, Mining and Water & Wastewater), By Regions...

Read More

South East Asia Diesel Genset Market (2018-2024)

Market Forecast By KVA Rating (5 - 75 kVA, 75.1 - 375 kVA, 375.1 - 750 kVA, 750.1 - 1000 kVA and Above 1000 kVA), By Applications (Residential, Hospitality, Commercial, Healthcare, Retail, Manufacturing, Oil & Gas and Power Utilities, Infrastructure & Transportation and Others ...

Read More

Europe Load Break Switch and Recloser Market (2018-2024)

Market Forecast By Voltage Rating (< 27 Kv and 27 KV & Above), By Insulation Type (Residential, Hospitality, Commercial, Healthcare, Retail, Manufacturing, Oil & Gas and Power Utilities, Infrastructure & Transportation and Others including Construction, BFSI and Education)...

Read More

Middle East Load Break Switch and Recloser Market (2018-2024)

Market Forecast By Voltage Rating (< 27 Kv and 27 KV and Above), By Insulation Type (Gas, Vacuum and Others), By End Users (Distribution Utilities and Others including Railway and Industrial), By Countries (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman...

Read More

Saudi Arabia Structured Cabling Market (2018-2024)

Market Forecast By Product Types (Cables (Copper and Fiber Optics), Components (Communication Outlets, Patch Panels & Cross Connects, Patch Cords & Cable Assemblies and Racks & Cabinets)), By Applications (Commercial, Residential, Industrial, Education...

Read More

India Lead Acid Market (2018-2024)

Market Forecast By Types (SLI (Starting Lighting Ignition), Stationary and Motive/Traction), By Construction Method (Flooded and VRLA), By Applications (Automotive, Telecommunications, UPS & Inverter, Electric Vehicles & Renewable Energy and Others), By Capacity...

Read More

Malaysia Power Rental Market (2018-2024)

Market Forecast By Types (Diesel Genset and Gas Genset), By KVA Rating (Diesel Genset (Up to 100 KVA, 100.1 KVA- 350 KVA, 350.1 KVA-750 KVA, 750.1 KVA-1000 KVA and Above 1000 KVA), Gas Genset (Up to 500 KVA and Above 500 KVA)), By Applications...

Read More

United States Building Energy Management Systems Market (2018-2024)

Market Forecast By Components & Services (Hardware, Software and Services), By Hardware Components (Sensors, Controllers, Actuators and Others including Smart Meters and Gateways), By End Users (Residential, Commercial and Industrial), By Applications...

Read More

Middle East Automated Fare Collection System Market (2018-2024)

Market Forecast By AFC Technology (Near-Field Communication, Magnetic Strips & Tokens and Smart Cards), By Applications (Metro Railway (Ticket Vending Machine (TVM), Ticket Office Machine (TOM), Fare Gates, Smart Card Ticketing, Central Computer and Station Infrastructure)...

Read More

Middle East and Africa Uninterruptible Power Supply (UPS) Market (2018-2024)

Market Forecast By KVA Rating (Below 1.1 KVA, 1.1 KVA - 5 KVA, 5.1 KVA - 20 KV, 20.1 KVA - 50 KVA, 50.1 KVA - 200 KVA and Above 200 KVA), By Applications (Commercial (Education, Offices, Healthcare, Hospitality, BFSI, Data Centers and Others including Retail, Government Buildings and Transportation Infrastructure), Industrial and Residential)), By Countries...

Read More

Saudi Arabia Air Conditioner Market (2018-2024)

Market Forecast By Types (Window AC, Split AC, Ceiling Concealed, Packaged AC, Floor Standing, Cassette Type and Centralized (VRF, AHU/FCU, Condensing Unit, Chiller and Others)), By Applications (Residential, Commercial & Retail, Hospitality, Oil & Gas, Healthcare and Others)...

Read More


Our Key Clients
6wreserach client list


6Wresearch Events
6wreserach events