Earthmoving equipment segment accounted for the highest revenue share in the Egypt Construction Equipment Rental Market – 6Wresearch
The earthmoving equipment segment accounted for the largest share owing to the dominance of government lead infrastructure projects in the country’s construction sector. The earthmoving equipment segment held 33.7% construction equipment rental market share in 2021. This is attributable to large infrastructure development projects. The sustained demand for earth moving equipment is observed due to the growing usage of earth moving equipment in applications such as agriculture, digging and loading mainly in time sensitive projects. Further, the rapid urbanization in Egypt at the rate of 2% per annum, has resulted in demand for construction of residential units.
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 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 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.
According to Ravi Bhandari, Research Head, 6Wresearch, The Nile valley and the delta accounted for the highest revenue share in Egypt construction equipment rental market due to the concentration of major infrastructure development projects in the region. Nile Valley and delta region has the highest growth in terms of revenues owing to concentration of economic development plans in the region.
The Egypt Construction Equipment Rental Market (2022-2028)” report provides an in-depth analysis with 33 figures and 7 tables, covered in 90 pages. The report on Egypt Construction Equipment Rental Market comprehensively covers the industry by types, and region. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.