Middle East & North Africa Construction Equipment Market is Expected to Grow with a CAGR of 10.38% by 2028
Increase in government investments in infrastructure development
and major infrastructure projects are critical factors driving the Middle East
& North Africa Construction Equipment market in the forecast period
2024-2028.
According to TechSci Research report, “Middle East & North
Africa Construction Equipment Market - By
Region, Competition, Forecast & Opportunities, 2028F”,
the Middle East & North Africa Construction
Equipment market is anticipated to reach USD 11.21 billion in 2022 and is
anticipated to grow with the CAGR of 10.38% in the forecasted years.
Construction equipment is a broad term that refers to any type of
machinery or tool that is used in the construction industry. This can include
everything from large, heavy-duty vehicles like excavators and bulldozers to
smaller, more specialized tools like concrete mixers and jackhammers. Construction
equipment is essential for the completion of any major construction project. It
is used to perform a variety of tasks, such as excavating, grading, paving, and
lifting heavy materials. Bulldozers,
backhoes, cranes, loaders, compactors, and concrete mixers are a few typical
examples of construction machinery.
Over the years, the construction industry has
developed in the Middle East countries individually, each adhering to its own
pace, standards, and goals. Due to Dubai's stronger development and investment
than the rest of the Middle East, the United Arab Emirates have been in charge
of significant projects. This has been influenced by numerous factors,
including rapid economic growth, an expanding elite population, increased
foreign investment, and others. Construction demand is expected to increase as
a result of numerous infrastructure projects that Saudi Arabia, the United Arab
Emirates, Oman, and Egypt are launching, including new megacities, railway
projects, harbour projects, new airport projects, housing projects, etc. The
expansion of the city's infrastructure also increases the demand for
construction equipment. The United Arab Emirates' market for construction
equipment is anticipated to grow as important rail networks like Etihad Rail
are built there.
Browse over 74
market data Figures spread through 133 Pages and an in-depth TOC on "Middle East and North Africa ConstructionEquipment Market.”
The Middle East & North Africa Construction Equipment market can be
segmented based on by type, by power output, by end user, by application, by
end user and by country. In the type segment, the market is divided into loader,
forklift, excavator, dozers, and others. The excavator segment holds the
majority of the share with around 34% in 2022. The demand for excavator is
rising due to rising construction activities as well as increase in
infrastructure projects, which results in the growth of excavator market. In
the power output, the market is segmented into <100hp, 101-200hp, 201-400hp, and >400hp. The 101-200hp has
the largest market share based on power output. In the application type, the
segment is divided into material handling, excavation & demolition,
recycling & waste management, tunnelling, and others. The excavation &
demolition segment accounts for the highest share in this segment, owing to
rise in mining activities and fracking of oils. In the end user segment, the
market is segmented in oil & gas, construction, infrastructure,
manufacturing, and others. The construction segment has the largest market
share based on end user type, owing to the growing infrastructure projects in
the region. On the basis of country, the market is segmented into Saudi Arabia,
Egypt, UAE, Turkey, Qatar, Morocco, Iran, Kuwait, Oman, and Bahrain.
In
Africa, a number of infrastructure projects are currently being carried out.
The Addis Ababa-Djibouti Railway Line, the Ethiopia-Djibouti Water Pipeline,
the Dukem Manufacturing Hub in Ethiopia, Egypt's New Administrative Capital,
Mombasa-Nairobi Standard Guage Railway in Kenya, and the Isimba Hydroelectric
Power Station in Uganda are a few notable projects. Some estimates place the
funding for 31% of the infrastructure projects in Africa that call for
investments of USD50 million or more on Chinese soil. 39 African nations have
signed on to China's lauded Belt and Road Initiative (BRI).
Major companies operating in the Middle East & North Africa Construction
Equipment Market are:
- Caterpillar
Inc. (Al-Bahar Construction Equipment FZE)
- Komatsu
Middle East FZE
- Liebherr
Middle East, FZE
- Hitachi
Construction Machinery Middle East Corp. FZE
- Volvo
Construction Equipment AB (Al Futtaim Auto and Machinery Company LLC)
- Zoomlion
Gulf FZE
- Terex
Corporation
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“Rise in government spending on major infrastructure projects in the
Middle East and Africa, including those in Saudi Arabia, Kuwait, Oman, the
United Arab Emirates, and Egypt, is anticipated to result in significant market
growth. Construction equipment market is growing at a faster rate, particularly
in developing nations where there are numerous prospects for expansion in the
infrastructure, residential, and non-residential sectors.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Middle East &
North Africa Construction Equipment Market Segmented by Type (Loader, Forklift,
Excavator, Dozers, Others), By Power Output (<100hp, 101-200hp, 201-400hp,
>400hp), By Application (Material Handling, Excavation & Demolition,
Recycling & Waste Management, Tunnelling, Others), By End User (Oil &
Gas, Construction, Infrastructure, Manufacturing, Others) By Country,
Competition, Forecast and Opportunities, 2028F,” has evaluated the future growth potential of Middle East & North Africa Construction
Equipment Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the Middle East & North Africa Construction Equipment Market.
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