Booming UAE Construction Equipment Market Set to Scale New Heights, Anticipates Sales of 29,294 Units by 2028
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01 Jun, 2023, 16:50 BST
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CHICAGO, June 1, 2023 /PRNewswire/ -- According to Arizton's latest research report, the UAE construction equipment market will grow at a CAGR of 6.2% during 2022-2029.
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Increased investment in renewable energy projects to boost the demand for material handling equipment. In 2021, the UAE revealed its Net Zero 2050 Strategy Initiative, with a value of $163.3 billion, which aims to invest in clean and renewable energy resources over the next three decades. According to the 2022 data, the UAE plans to invest $160 billion in developing renewable energy projects nationwide.
The government plans several renewable energy projects in Abu Dhabi and Dubai. The government invested $3.9 billion in 2021 to develop several projects in Dubai, such as 950 MW of hybrid projects, 700 MW of concentrated solar power, and 250 MW of photovoltaic projects.
The Gulf state signed an agreement with the US in November 2022 to invest $100 billion in clean energy projects to produce 100 GW by 2035. The Ministry of Energy & Infrastructure, in 2022, mentioned that the UAE has further launched 11 environment-friendly energy projects worth $43.2 billion.
In addition, the Dubai Electricity & Water Authority (DEWA), in 2022, planned to invest approximately $10.8 billion in capital expenditures over the next five years, including expanding renewable and clean energy projects. These increasing investments in clean energy generation projects are expected to propel the sales of material-handling equipment such as cranes.
UAE Construction Equipment Market Report Scope
Report Attributes
Details
Market Size (2029)
29,294 Units
MARKET SIZE (2022)
19,231 Units
CAGR (2022-2029)
6.20 %
HISTORIC YEAR
2020-2021
BASE YEAR
2022
FORECAST YEAR
2023-2029
TYPE
Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Construction Equipment
Market Dynamics
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Key Highlights
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Post-Purchase Benefit
Aerial Platform Market in the UAE Projected to Surpass $236.2 Million by 2029
Construction of the Nobu Hotel & Beach Club is underway in Abu Dhabi. In line with this project, a Nobu Restaurant, a beach club, a luxurious hotel, and chic branded residences will open by 2026.
Another project, the Mina Zayed redevelopment project, is underway, which is a 3 million square meter project that aims to create a blended housing, tourism, and entertainment destination. The redevelopment includes the involvement of both Modon Properties and Aldar Properties.
Abu Dhabi based developers - Al Qudra has revealed plans to transform a 245,000 sqm stretch of Abu Dhabi's W64 Zone, overlooking the Sheikh Zayed Grand Mosque. The project involves the construction of a traditional souq comprising a ground floor, an additional floor, and a roof consisting of a waterfront area. It will also include a community service center, a customer service center, and retail outlets such as supermarkets and restaurants.
Prominent Vendors
Other Prominent Vendors
Distributor Profiles
Market Segmentation
Type
End Users
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GCC Construction Equipment Market - Strategic Assessment & Forecast 2021-2027: GCC construction equipment market will be valued at USD 3722.2 million by 2027. Some of the latest technologies being incorporated into the GCC construction machinery market are payload weighing, smart cranes, drones, telematics, ergonomic controls, and electromobility.
Southeast Asia Construction Equipment Market - Strategic Assessment & Forecast 2022-2028: The Southeast Asia construction equipment market will reach USD 10.7 billion by 2028. Southeast Asia's construction equipment rental market growth will accelerate new equipment sales.
Saudi Arabia Construction Equipment Market - Strategic Assessment & Forecast 2023-2029:
Table of Content
Section 1 – Research Methodology
Section 2 – Research Objectives
Section 3 – Research Process
Section 4- Introduction
4.1 Market Coverage
4.2 Report Scope
Section 5- Market at a Glance
5.1 Market Snapshot
Section 6- Executive Summary
Section 7- Market Landscape
7.1 PESTLE Analysis
7.2 Economic Scenario
7.3 Key Projects
7.4 Market Dynamics
7.5 Import & Export Analysis
7.6 Supply Chain Analysis
Section 8- Segmentation
8.1 By Equipment Type
8.1.1 Equipment Definition (Earthmoving)
8.1.1.1 Earthmoving Equipment (Volume & Value)
8.1.1.2 Excavators
8.1.1.3 Backhoe Loaders
8.1.1.4 Wheeled Loaders
8.1.1.5 Other Earthmoving Equipment
(Other Loaders, Bulldozers, Trenchers, etc.)
8.1.2 Equipment Definition (Road Construction)
8.1.2.1 Road Construction (Volume & Value)
8.1.2.2 Road Rollers
8.1.2.3 Asphalt Pavers
8.1.3 Equipment Definition (Material Handling)
8.1.3.1 Material Handling Equipment (Volume & Value)
8.1.3.2 Cranes
8.1.3.3 Forklifts & Telehandlers
8.1.3.4 Aerial Platforms
8.1.4 Equipment Definition (Other Equipment)
8.1.4.1 Other Equipment (Volume & Value)
8.1.4.2 Dumpers
8.1.4.3 Tippers
8.1.4.4 Concrete Mixtures
8.1.4.5 Concrete Pump Trucks
8.2 By End-users
8.2.1 End-user Definition
8.2.2 Construction
8.2.3 Manufacturing
8.2.4 Mining
8.2.5 Others (Waste Management, Agriculture, Oil & Gas Extraction, Utilities & Energy, Power Generation, Disaster Management and Water Management)
Section 9- Geographical Analysis
Section 10- Technological Development
Section 11- Competitive Landscape
11.1 Competitive Landscape Overview
11.2 Vendors (Caterpillar | Volvo Construction Equipment| Komatsu | Hitachi Construction Machinery | Liebherr | JCB | XCMG |Zoomlion | Kobelco | Manitou | Tadano | SANY | HD Hyundai Infracore| Liugong | ElectroMech
11.3 Other Prominent Vendors
11.4 Distributor Company Profiles
Section 12- Report Summary
12.1 Key Insights
12.2 Abbreviation
12.3 Exhibits
12.4 Related Report
12.5 Database
12.6 Global Reach
12.7 Offerings
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SOURCE Arizton Advisory & Intelligence
Arizton Advisory & Intelligence