Egypt Construction Equipment Rental Market to Surpass $ 820 Million by 2022
Anticipated
stabilization of political scenario coupled with bullish outlook for construction
and infrastructure sectors to proliferate construction equipment rental market in
Egypt through 2022
According to TechSci Research report, “Egypt
Construction Equipment Rental Market By Equipment Type, Competition Forecast &
Opportunities, 2022”, equipment
rental market in Egypt is projected to reach $ 821 million by
2022. On account of consistent
growth in public and private infrastructure development projects, surge in the
country’s construction equipment rental market is anticipated during the
forecast period. Moreover, due to brisk growth in construction sector, a large
number of construction companies require various equipment but they don’t buy
them due to their high acquisition cost, instead many companies hire them on
rent for the specified period of time.
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In 2016, crane dominated the Egypt construction equipment
rental market and the segment is expected to lead the market during the
forecast period as well, owing to its use across residential/commercial set-ups,
especially for high-rise building construction in the country. Moreover, crane
usage in construction equipment rental industry is extensive as they are not
only used in the initial phase of a construction project but till the time the
project is completed. Nevertheless, the bulldozer segment is anticipated to
exhibit the fastest growth over the course of next five years. ‘Alexandria, Delta,
Suez Canal, Greater Cairo & Upper North’ Region is expected to dominate the Egypt
construction equipment rental market owing to many construction projects, such
as Great Cairo metro line, Suez Canal Development Project – Dredging, expansion
of east port, etc.
Big Rental, Adrighem & Al Dibiki, and Magic-Rent are few of the
leading players operating in the construction equipment rental market. However,
market consists of many unorganized players engaged in providing equipment
rental services. It has been anticipated that in coming years, many players
will foray in the market due to increase in the construction projects. JCB,
Tadano, Liebherr, Caterpillar, Grove, etc., are the major equipment brands
offered by many rental companies through customized rental agreements in Egypt.
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“With increasing
government expenditure, growing investment by many companies in Egypt and rise
in number of construction projects, the country’s construction rental market is
likely to grow during the forecast period. Moreover, favorable government
policies regarding construction projects, developing real estate and housing projects and
surging foreign investments in equipment rental market, are anticipated to fuel
the market in the coming years.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Egypt Construction Equipment Rental Market By
Equipment Type Competition Forecast & Opportunities, 2022” has analyzed the potential
of construction equipment rental market in Egypt, and provides statistics and
information on market sizes, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the industry.
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