Market Size of GCC Construction Machinery Rental Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.86 Billion |
| Market Size (2029) | USD 6.55 Billion |
| CAGR (2024 - 2029) | 6.15 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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GCC Construction Machinery Rental Market Analysis
The GCC Construction Machinery Rental Market size is estimated at USD 4.86 billion in 2024, and is expected to reach USD 6.55 billion by 2029, growing at a CAGR of 6.15% during the forecast period (2024-2029).
Over the long term, major factors driving the growth of the market are the growing construction industry, increasing demand for cranes, and developing trends toward automation and telematics. The renting or leasing of construction equipment is on the rise, owing to an effort to lower the equipment purchase and maintenance expenses.
The renting or leasing of construction equipment is on the rise, owing to an effort to lower the equipment purchase and maintenance expenses. Apart from the cost, there are also other benefits associated with renting construction equipment. Rental companies provide the machinery, along with the required professional machine operators and drivers, thereby ensuring a hassle-free operation.
The construction sector is witnessing growth in GCC countries such as the United Arab Emirates, the Kingdom of Saudi Arabia, Qatar, and Bahrain due to the rise in construction projects related to roads, buildings, hotels, stadiums, and other infrastructure. Moreover, advancements in the rental method of construction machinery, such as digital platforms, are providing ease to the consumer, further acting as a big factor in the growth of the construction machinery market in GCC countries.
