This GCC construction equipment market report contains in-depth analysis and data-driven insights on the impact of COVID-19. The GCC construction equipment market size is 3,722 U.S. dollars.
New York, December 8, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "GCC Construction Equipment Market-2021-2027 Strategic Evaluation and Forecast"-https://www.reportlinker.com/p06188660/ ?utm_source=GNW 2 million, will reach 99829 units by 2027, and grow at a compound annual growth rate (CAGR) of 7.34% during 2021-2027. GCC construction equipment market , Subway and airport construction projects, etc., and other factors will increase significantly during the forecast period. • Government efforts such as Saudi Vision 2030, UAE Vision 2021 and Dubai World Expo 2021 are expected to stimulate product demand in the market. • Saudi Arabia remains the largest market for various infrastructure projects. The country plans to spend 300 billion U.S. dollars to build new infrastructure, including a huge passenger rail network and a new airport in Riyadh. • The governments of these countries are aware of the volatility in the oil and gas industry after the pandemic. They are now diversifying the economy into different sectors, such as construction and manufacturing. This will have a positive impact on the construction equipment market of the Gulf Cooperation Council. The COVID-19 pandemic has had a negative impact on the construction industry of the Gulf Cooperation Council countries, but unfinished projects will accelerate market demand during the forecast period. Due to price fluctuations, it is not possible to completely rely on the oil industry, so these countries also focus on diversifying business in all sectors. In addition, these countries have also made large budget allocations for the development of transportation infrastructure (such as airports, railway lines, highways, etc.). Highlights of the report • Large-scale construction projects such as the construction of Jeddah Airport and the development of the NEOM area have led to an increase in demand for other construction equipment, such as bulldozers and trenches. • Initiatives to connect the railway and road network from China to Europe via the Middle East will increase MEA construction equipment market demand. • By 2050, the UAE plans to provide 44% of its energy through renewable energy. The Dubai Clean Energy Strategy will also encourage investment in renewable energy projects in the region. • The UAE’s housing policy focuses on providing housing benefits to low-income groups through various other agencies within the federal government and local governments. This will drive market demand for heavy construction equipment. • Due to the low cost and easy availability of earthmoving equipment rental, the construction equipment rental market is becoming more and more important in the region. This has promoted the demand of the construction equipment industry of the Gulf Cooperation Council. The report considers the current status and market dynamics of the GCC construction equipment market during the forecast period from 2021 to 2027. It provides a detailed overview of several growth drivers, constraints and trends in the market. The research includes sales and value sales as well as a segmentation analysis of the GCC construction equipment market. GCC Construction Equipment Market Segmentation • Saudi Arabia and the UAE are increasingly inclined to use technologically advanced excavators. In addition, more and more residential and hotel property renovation projects will further promote market growth. • The government's increasing infrastructure investment is expected to boost the construction market, thereby enabling this segment to flourish. Market Segment by Mobile Equipment • Earth-moving equipment o Excavators o Backhoe loaders o Motor graders o Other earth-moving equipment • Road construction equipment o Asphalt pavers o Road rollers • Material handling equipment o Cranes o Forklifts and telescopic forklifts o Arial platforms (Articulated boom lifts, telescopic boom lifts, scissor lifts, etc.) Segment the market by application • Construction • Manufacturing • Mining • Other supplier environments In the Gulf Company Council (GCC) countries, OEMs distribute through their own subsidiaries Its products. For example, Liebherr sells its products through Liebherr Middle East FZE. Komatsu sees huge opportunities for automation and remote operation, and plans to launch a mature remote office system. On the other hand, Liebherr introduced several new earthmoving machinery and technologies in 2020, including the first telescopic wheel loader L 509 Tele. As the global demand for low-carbon emissions from the mining process increases, Hitachi Construction Machinery has cooperated with ABB to apply digital solutions to the mining process and launched a battery-powered excavator that can reduce carbon emissions in 2020. Major Suppliers • Caterpillar • Komatsu • Liebherr • Hitachi Construction Machinery • Volvo Construction Equipment • Zoomlion Heavy Industries Technology • JCB • Doosan • Sany Group • Kobelco Construction Machinery Other well-known manufacturers • Sumitomo Construction Machinery • Xuzhou Construction Machinery Group • Lippo • Kubota Machinery • Ingersoll Rand WHY Should you buy this report This report is one of the few reports in the market that provides prospects and opportunity analysis and forecast: • Quantity (unit sales) o Type o Application o Country • Value (USD) o Type o Application o Country • Income Competitive intelligence, dynamics and market share on the economic situation, major projects and investment advantages of GCC countries • Latest technology examples • Access to presentation formats and easy interpretation • Enable decision makers to make wise and profitable choices• Obtain expert quantitative and qualitative analysis of GCC value/quantity growth forecasts for construction equipment market share• Complete supply chain analysis• Obtain COVID-19 market impact analysis• The key questions answered by the company profiles of 10 major suppliers and 5 other major suppliers: 1. How big is the GCC construction equipment market? 2. What are the latest technologies in the GCC construction machinery market? 3. Who are the main players in the construction equipment industry of the Gulf Cooperation Council? 4. What are the factors driving the growth of the GCC construction equipment market? 5. What different types of construction equipment are covered in the report? Read the full report: https://www.reportlinker.com/p06188660/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you can get all the market research you need instantly in one place. __________________________
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