UAE Construction Equipment Market is projected to grow at a CAGR of 3.9% during 2021-27

Dubai acquired the largest revenue share in UAE construction equipment market - 6Wresearch.

UAE construction equipment market is expected to witness proliferation in the forthcoming years. The acceleration is by the upsurge in the construction activities and government increasing infrastructure investment and development across various sectors like tourism, commercial, logistics and transportation that would boost the construction equipment sector and encourage private sectors to bring their own projects, which in turn would increase the demand for construction machinery. However, the novel coronavirus outbreak across the globe obstructed the overall economy of numerous countries, leading to a halt in construction activities and postponed projects. The year 2020 left its gloomy imprint on numerous sectors and refrained the growth of construction equipment across the globe, thus the market revenues witnessed a decline during 2020.

According to 6Wresearch, UAE Construction Equipment Market is projected to grow at a CAGR of 3.9% during 2021-27. Government initiatives for ramping up modern infrastructure and transportation projects which require much larger supply of heavy construction equipment are stimulating the growth of UAE construction equipment market. Dubai comes across as the leading region and exhibits massive potential for construction equipment market, followed by Abu Dhabi and other emirates. Mobile cranes and earth moving equipment are the major segments driving the construction equipment market as these are widely used in construction and oil and gas industry and there is great demand due to ongoing projects in UAE.

According to Akshay Kumar, Research Analyst, 6Wresearch, “Construction equipment sector is witnessing a major demand for heavy equipment due to increase in investment in the construction industry that acts as a catalyst for the thriving the market of construction equipment hence, encouraging opportunities for the equipment. Thus, boosting infrastructure investments across the country would bolster the demand for construction equipment promptly in the forthcoming years. However, COVID-19 disrupted the overall economy explicitly impairing the construction and oil industry which led to the decline in revenues of construction equipment in the previous year i.e. 2020.”

According to Shivali Sharma, Research Analyst, 6Wresearch, “The demand for earth moving equipment is anticipated to witness an upsurge as this equipment is majorly used in the construction industry due to its size and significance. With increase in infrastructure and government investment the demand for this equipment is growing rapidly. Domestic and foreign crane manufacturers are showing interest in construction activities and local demand for these machines are high in UAE. Large number of upcoming offices spaces, road, bridges, hotels and healthcare projects under the proposed economic city projects would increase the number of commercial spaces in UAE, resulting in an increased demand for construction equipment in the country during the forecast period in the commercial domain.”

“UAE Construction Equipment Market (2021-2027)” report provides an in-depth analysis with 39 figures and 14 tables, covered in 96 pages. The report estimates and forecasts the overall UAE construction equipment market by types, applications and regions. The report provides an unbiased and detailed analysis of the on-going 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.