"Kenya used construction equipment market is expected to show growth due to the growing demand for affordable construction instrumentation as used construction equipment reduces purchasing cost and is easy to operate than new instrumentation" – 6wresearch.
The construction industry is booming in Kenya, owing to the increasing demand for new infrastructures and housing that would increase the supply of construction machines in the market. Some heavy construction equipment includes wheel loaders, cranes, forklifts, graders, excavators, and dump trucks. In addition, major construction companies prefer to lease and buy used construction equipment from contractors instead of buying them for short-term construction projects, which would augment the growth of the used construction equipment market during the forecast period.
According to 6Wresearch, Kenya Used Construction Equipment Market revenue is projected to grow at a CAGR of 6.4% during 2021-2027. The used construction instrumentation market showed steady growth throughout the COVID-19 pandemic. The main growth factors include improving the business environment, the government's implementation of four major development plans to promote the development of manufacturing, food production and affordable housing, and the continued macroeconomic stability supported with Kenya vision 2030. This is attributed to the increased government funding of projects such as phase two of the Standard Gauge Railway (SGR) and the Lamu port.
According to Navneet Agarwal, Senior Research Analyst, 6WResearch, "The earthmoving instrumentation market accounted for the majority of the revenue share in 2020 and would continue to maintain its dominance during the forecast period on account of the upcoming public infrastructure projects in the countries. Furthermore, the increasing urban population and the demand for better infrastructure facilities would create significant growth opportunities for the earthmoving construction equipment.
According to Kajal Saraswat, Research Associate, 6WResearch, "Used excavators are anticipated to witness high rate of growth during the forecast period due to their increasing importance in construction activities owing to their flexibility to work in multiple terrains for extended hours. In addition, excavators conjointly enable construction contractors to hold out different sets of activities by mounting extra tools, boosting their adoption within the industry.
"Kenya Used Construction Equipment Market (2017-2027)" report provides an in-depth analysis with 8 figures with 10 tables, covered in 70 pages. The report estimates and forecasts the overall market by equipment type. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/high growth areas and market drivers, which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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