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The Middle-East and Africa Construction Equipment Market is segmented by Machine Type (Cranes, Telescopic Handling, Excavator, Loaders and Backhoe, Motor Grader), Drive Type (Electric and Hybrid, and Hydraulic), and Country.
The Middle-East and Africa Construction Equipment Market is anticipated to register a CAGR of over 4% during the forecast period 2020 - 2025.
The growing focus of middle eastern and African countries on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on market growth.
The Middle East and Africa Construction Equipment Market is segmented by Machine Type, Drive Type, and Geography. The report also studies the latest technological trends and market share of major players.
|Loaders and Backhoe|
|Electric and Hybrid|
|United Arab Emirates|
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Over the few years, the construction industry in Middle-East and Africa region had witnessed a sharp increase owing to factors such as high economic growth, rising middle class, population growth, increasing foreign investments, etc. Countries like Saudi Arabia, United Arab Emirates (UAE), Oman, Egypt are initiating several infrastructure projects like new megacities, railway projects, harbor projects, new airport projects, housing projects, etc., which is anticipated to create a demand for construction equipment. Moreover, small construction projects like building new bridges, flyovers, construction of new commercial centers, roads, etc., which improves the city’s infrastructure are also creating a demand for construction equipment.
Oman is developing an integrated economic city named Khazaen Economic City which is the largest public-private partnership (PPP) project in the country. The city is being developed over 51.6 million square meters of land. The city includes inland dry port, logistics and warehousing facilities, industrial, commercial, residential, and mixed-use developments. In August 2019, Khazaen Economic City LLC, which is the master developer for the project had awarded the first construction contract worth USD 238.92 million to Galfar Engineering & Contracting SAOG for the development of asphalt roads, a streetlight network, 15 km of storm water channels, and a 22 km potable water network which includes the main water transmission line and storage tanks, the project is scheduled to complete within 12 months.
Similarly, in May 2020, UAE rail operator Etihad Rail started the construction of second phase of the rail network which links Al Guwaifat on the Saudi border, to Fajiairah and Khorfakkan, on the UAE’s eastern coast with a total length of 605 km. Moreover, Government initiatives, such as Dubai Plan 2021 and Abu Dhabi Vision 2030, are the key factors driving the Emirati construction industry. These initiatives are expected to result in the expansion of metros and airports, along with the construction of new hotels and shopping malls, which are likely to boost the demand of machines, such as cranes, excavators, loaders and backhoe, amongst others, over the forecast period.
Thus, various ongoing projects and future projects which are being initiated by the governments in the Middle-East and African region to improve the infrastructure is creating a demand for construction equipment which will propel the growth of the market during the forecast period.
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Over the past few years, the construction industry in Saudi Arabia has witnessed a high growth rate driven by government support through long-term economic diversification plans, like Saudi Vision 2030. In order to reduce dependency on exports of crude oil Saudi Arabia is diversifying its economic resources by developing the tourism industry which includes the construction of new hotels, commercial centers, entertainment city amongst others. The future mega infrastructure projects will create a demand for construction equipment like Excavators, Loaders, and Backhoe, Cranes. Moreover, a variety of construction projects are underway in Saudi Arabia as a part of Vision 2030.
For instance, Saudi Arabis is developing an entertainment city named Al-Qiddiya Entertainment City with an estimated budget of USD 500 billion. Construction started at the beginning of the year 2019 and it is composed of five primary projects. This major infrastructure project includes the development of theme parks, resorts, hotels, and residential units on about 100 miles of coastline on the Red Sea. The total size of the city is more than 334 square kilometers. The first phase is expected to be open to public in 2022.
Similarly, in October 2017, Saudi Arabia announced plans to develop a new mega city named Neom with a budget of USD 500 billion. The projected city is planned to incorporate smart city technologies and also as a tourist destination. The city will cover a total area of 26,500 square kilometer and will extend 460 km along the coast of the Red Sea. The first phase of the city is expected to be completed by 2025. Moreover, the city is planned to be totally powered by renewable energy sources. Thus, various ongoing and future infrastructure projects are expected to create a demand for construction equipment propelling the growth of the market in the coming future.
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Some of the prominent players in the Middle-East and Africa Construction Equipment market are Caterpillar Inc., Liebherr Group, Kobelco Construction Machinery Co., Ltd., Hitachi Ltd., Volvo AB, Komatsu Ltd., amongst others. With the presence of many international players the market is highly competitive prompting the companies are innovating new ways to increase their sales. However, due to several mega ongoing and upcoming infrastructure projects like FIFA World Cup 2022 which is hosted by Qatar, Saudi Arabia Vision 2030, new airport projects in African countries are expected to create a high demand for construction equipment.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness – Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Machinery Type
5.1.3 Loaders and Backhoe
5.1.4 Motor Graders
5.1.5 Telescopic Handling
5.2 Drive Type
5.2.1 Electric and Hybrid
5.3.1 Saudi Arabia
5.3.2 South Africa
5.3.3 United Arab Emirates
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Kobelco Construction Machinery Co., Ltd.
6.2.2 Hitachi Construction Machinery Co.
6.2.3 Sumitomo Construction Machinery
6.2.4 CNH Industrial (Case Construction)
6.2.5 Caterpillar Inc.
6.2.6 Liebherr Group
6.2.7 Mitsubishi Corporation
6.2.9 Volvo AB
6.2.10 Doosan Corp
6.2.11 Manitowoc Company Inc.
6.2.12 Komatsu Ltd.
6.2.13 Tadano Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS