Posted On: 2022-01-07
Construction application segment acquired the largest market revenue share in the overall Egypt construction equipment market – 6Wresearch.
Egypt construction equipment market witnessed a steady growth during 2018-19 owing the growing infrastructural development across Egypt, rapid industrialization along with investments to develop cross border oil & gas pipeline networks and growing demand for construction equipments. However, the covid-19 pandemic brought a decline in market revenues and volume during the year 2020 owing to the lockdown imposed in the country. The lockdown has led to a tremendous decline in the business including the construction industry. This has hampered all the economic sectors and has created disruptions in the supply chain. Thus, resulted in decline in the demand for construction equipments. The Egypt construction equipment market witnessed a sharp recovery post post-COVID-19 pandemic and is anticipated to experience the same growth in the coming years. Future investments in the construction oil & gas and mining sector in the country would provide growth opportunities for construction equipments in Egypt.
According to 6Wresearch, Egypt Construction Equipment Market size is projected to grow at a CAGR of 6.4% during 2022-2028. Egypt construction equipment market is in the growing stage of industry life cycle. The market would continue to climb up owing to as demand is increasing with the growing infrastructure sector. With the ongoing development in the construction sector, Egypt Vision 2030 would help in rapid expansion in infrastructure development and growing hospitality and residential sectors are anticipated to propel the demand for construction equipments in Egypt.
According to Vatan Saini, Research Associate, 6Wresearch, “Forklift dominates the Egypt construction equipment market volume share for the year 2021 owing to their maximum use in almost every sector including construction, logistics and retail to move heavy packages from one place to another.
According to Shubham Deep, Research Associate, 6Wresearch, “Earth moving equipment dominates the market revenue share in construction equipment market in 2021 and same trend is expected to continue in the forecasted years on account of increasing investment in infrastructure, oil & gas and construction sector in.”
Some of the major companies in Egypt construction equipment market includes Caterpillar Inc., Doosan Infracore, Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Hyundai Construction Equipment Co. Ltd., Volvo Construction Equipment, J C Bamford Excavator Limited, Palazzani Industries S.p.A and Zoomlion Heavy Industry Science and Technology Co. Ltd..
Egypt construction equipment market (2022-2028)” report provides an in-depth analysis with 23 figures and 10 tables, covered in 83 pages. The report estimates and forecast the overall Egypt construction equipment market by types, applications, and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.