Emphasis on Product Type (Compactors, Excavators, Forklifts, Wheel Bulldozer, Front Loaders, Dump Trucks, and Others); Equipment Type (Earthmoving Equipment, Material Handling Equipment, and Others); and End-Use Industry (Construction, Mining, Oil & Gas, Manufacturing, and Others); Country
Geography:
Industry:
Last updated:
Sep 2023
The MENA Construction Equipment Market is expected to grow at a strong CAGR of 4.6% during the forecast period 2023-2030. The construction equipment industry in the MENA region (Middle East and North Africa) has seen significant growth in recent years. This growth is driven by several factors, including increasing infrastructure development, urbanization, and government initiatives to boost construction activities. The MENA region has witnessed a surge in large-scale infrastructure projects, such as airports, ports, roads, and railways. Countries like Saudi Arabia, the UAE, and Qatar are investing heavily in the construction sector to diversify their economies and reduce dependency on oil revenues. These projects require a wide range of construction equipment, including excavators, cranes, bulldozers, and loaders.
The urbanization trend in the MENA region contributes to the demand for construction equipment. As more people migrate to cities, there is a need for residential and commercial buildings, shopping malls, hotels, and other infrastructure. This drives the demand for construction machinery and equipment. Further, the region is highly competitive, with both global and local players. Companies like Caterpillar, Hitachi, Volvo, and JCB have a strong presence in the region.
Some of the major players operating in the market include Caterpillar Inc., Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., JCB Ltd., Volvo Construction Equipment AB, Liebherr Group, SANY Group, Bobcat Company, Terex Corporation, and Hyundai Construction Equipment Co., Ltd.
Insights Presented in the Report
“Amongst product type, the excavators’ segment to hold a dominant share of the market in 2022”
Excavators segment led the market in 2022. The availability of various financing options, such as leasing and rental services, makes excavators more accessible to construction companies, contractors, and individuals. Affordable financing options encourage the purchase and use of excavators.
“Amongst equipment type, the earthmoving equipment category to hold a dominant share of the market in 2022”
Earthmoving equipment such as excavators, bulldozers, and wheel loaders help increase the efficiency and productivity of construction projects. These machines can complete tasks much faster and with less manual labor compared to traditional methods, resulting in time and cost savings. Also, earthmoving equipment is designed with safety features such as enclosed cabs, seat belts, and advanced control systems. By using these machines, construction workers can avoid direct contact with hazardous materials and reduce the risk of injuries.
MENA Construction Equipment Market Report Coverage
“Saudi Arabia to grow with high CAGR during the forecast period.”
Saudi Arabia is undertaking massive megaprojects like NEOM, Red Sea Project, and Qiddiya, which require advanced and specialized construction equipment. These projects are aimed at diversifying the economy and attracting foreign investments, contributing to the growth of the construction equipment industry. Also, there is a growing focus on sustainable construction practices in Saudi Arabia, including the use of eco-friendly construction equipment. This has led to an increased demand for energy-efficient and environmentally friendly construction equipment, such as electrically powered machinery and equipment with reduced emissions. Further, Saudi Arabia has also witnessed the establishment of local manufacturing plants for construction equipment, reducing dependence on imports and creating job opportunities. This local manufacturing capability has helped meet the growing demand for construction equipment in the country and contributed to the industry’s growth.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Mena Construction Equipment Market Covid-19 Impact
6. Mena Construction Equipment Market Revenue, 2020-2030f
7. Market Insights By Product Type
8. Market Insights By Equipment Type
9. Market Insights By End-use Industry
10. Market Insights By Country
11. Construction Equipment Market Dynamics
12. Construction Equipment Market Opportunities
13. Construction Equipment Market Trends
14. Demand And Supply-side Analysis
15. Regulatory Framework
16. Pricing Analysis
17. Case Study Analysis
18. Patent Analysis
19. Value Chain Analysis
20. Competitive Scenario
21. Company Profiled
22. Disclaimer
Research Methodology for the MENA Construction Equipment Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA construction equipment market were the three major steps undertaken to create and analyze the adoption of MENA Construction Equipment in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA construction equipment market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MENA construction equipment market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MENA construction equipment market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, equipment type, and end-use industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA construction equipment market. Further, we conducted factor analysis using dependent and independent variables such as product type, equipment type, and end-use industry of the MENA construction equipment market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA construction equipment market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA construction equipment market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Key Stakeholders of Construction Equipment Market in the MENA Region
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA construction equipment market. The data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product type, equipment type, and end-use industry of the MENA construction equipment market.
The main objective of the MENA Construction Equipment Market Study
The current & future market trends of the MENA construction equipment market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional and country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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