UAE Construction Equipment Rental Market to cross $ 270 million 2022
Anticipated stabilization of crude oil prices
and growing construction and infrastructure sectors in the UAE to drive the
country’s construction equipment rental market
According to TechSci Research report, “UAE
Construction Equipment Rental Market By Equipment Type, Competition
Forecast & Opportunities, 2012-2022”, construction equipment rental market in the
UAE is projected to cross $ 273 million by 2022, owing to increasing development
in the country’s infrastructure and industrial sectors. Moreover, due to high
purchasing cost of construction equipment, construction companies prefer
procuring equipment on rent instead of buying them. Additionally, various major
ongoing and upcoming projects such as The Palm Tower, Jewel of the Creek, Al
Manhal development, Sheikh Zayed Bridge, etc., are expected to cumulatively
generate huge demand for construction equipment in the country, consequently
driving construction equipment rental market in the UAE during the forecast
period.
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As per
a consumer survey conduction by TechSci Research in January, 2018, more than
70% customers are not willing to change their construction equipment rental
company. Al Mutawa & Al Bahar grabbed the highest satisfaction level among
contractors in product quality, availability and service of construction equipment
in the UAE. Al Mutawa was the market
leader in the UAE construction equipment rental market in 2016, and the company
is expected to maintain a strong foothold during the forecast period as well, on
the back of its diverse rental product portfolio.
On the basis of equipment type, cranes dominated the UAE construction
equipment rental market in 2016 and the segment is expected to lead the market through
2022 as well, on account of extensive use of cranes across residential / commercial
projects, from the beginning of the project to its completion. Among regions, Dubai
is the largest construction equipment rental market in the UAE, as a large number
of large-scale construction projects are being undertaken in Dubai, followed by
Abu Dhabi, Sharjah, and Ras al-Khaimah.
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“Various upcoming greenfield and
brownfield infrastructure projects coupled with rising government expenditure in
the country’s industrial and construction sectors is likely to aid the growth
of construction equipment rental market in the UAE. Moreover, decline in rental
tariffs and increasing number of construction equipment rental companies operating
in the country is anticipated to steer growth in the UAE construction equipment
rental market in the coming years.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“UAE
Construction Equipment Rental Market By Equipment Type, Competition Forecast
& Opportunities, 2012-2022” has analyzed the potential of construction equipment rental market across the country,
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 UAE construction equipment rental
market.
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