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GCC Construction Machinery Market Size, Share, Growth Opportunities & Industry Forecast Report, 2020-2027 – X herald

GCC Construction Machinery Market:

Growth Opportunities in the GCC Construction Machinery Market look promising over the next six years. This is mainly due to the strong demand for cranes, the rapid increase in the construction sector, the emerging trend towards automation and telematics, and the increase in the electrification projects, such as the Hassayan power plant Dubai, the Yanbu III Power Plant in Saudi Arabia.

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GCC Construction Machinery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The strong demand for cranes, the rapid increase in the construction sector, and the emerging trend towards automation and telematics across the GCC countries are the key drivers responsible for the growth of the GCC construction machinery market. The government is widely emphasizing growing the existing infrastructure by introducing new projects and utility projects, particularly in Saudi Arabia, Qatar, and the UAE, surging the demand for construction equipment. Some of the upcoming and ongoing projects in the GCC region, such as Qatar’s FIFA World Cup 2022 and Al Qiddiya, Dubai Expo 2020, Neom projects in Saudi Arabia (KSA), and Red Sea. The ongoing airport expansion project at Dubai International accounted to USD 7.8 billion, is projected to further propel the demand for construction machinery during the forecast period.

The rising demand for high capacity cranes in the GCC countries is due to the growing number of energy-related projects and industrial facilities construction. The largest power project in the UAE is the 5.8GW Barakah nuclear power plant. Furthermore, the increase in the electrification projects, such as the Hassayan power plant in Dubai, the Yanbu III Power Plant in Saudi Arabia, and the Al Layyah Power Plant Expansion in Sharjah, will further support the growth of the market. However, the factor hampering the market growth includes the increased cost of construction machinery.

Machinery Type Segment Drivers

Based on the machinery type, the Loader & Backhoe is anticipated to rise at a higher CAGR in the coming years due to the rising applications in the infrastructure industry, including grading, loading, leveling, dozing, backfilling, and grabbing.

Application Segment Drivers

Based on the application, the infrastructure is expected to rise at a faster CAGR in the coming years due to the growing ongoing and upcoming projects. The government is focusing on the development of smart cities and other projects to enhance the quality of life of its people by supporting innovation.

To Know More About GCC Construction Machinery Market

GCC Construction Machinery Market’s leading Manufacturers:

  • Caterpillar Inc.
  • AB Volvo
  • Komatsu Ltd.
  • CNH Industrial N.V.
  • Liebherr International AG
  • Hitachi Construction Machinery Co., Ltd.
  • Terex Corporation
  • Joseph Cyril Bamford Excavators Ltd.
  • Bamford Excavators Ltd.
  • Sumitomo Construction Equipment Co. Ltd.

GCC Construction Machinery Market Segmentation:

Segmentation by Machinery Type:

  • Crane
  • Telescopic Handlers
  • Excavator
  • Loaders & Backloe
  • Motor Grader
  • Articulated Dump Truck
  • Asphalt Finisher
  • Crawler Dozer
  • Motor Scraper
  • Rigid Dump Truck
  • Other

Segmentation by Application:

  • Infrastructure
  • Commercial Buildings
  • Residential Buildings
  • Industrial Buildings

Segmentation by Drive Type:

  • Hydraulic
  • Electric and Hybrid

Segmentation by Region:

  • North America
    • United States of America
    • Canada

 

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of the world (remaining countries of the LAMEA region)

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