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.

UAE_Construction_Equipment_Market

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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 

  • Government's Investment in Public Infrastructure Projects
  • Increased Investment in Renewable Energy Projects
  • Government Investment in Affordable Housing

 

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Key Highlights

  • The material-handling segment of construction equipment accounted for the largest UAE construction equipment market share in 2022. In the material handling segment, cranes accounted for the largest share in 2022.
  • The excavator is used for digging, lifting, earthmoving & drilling. In 2022, the UAE government's increased investments in residential buildings, roads, and railways are expected to drive the demand for excavators during the forecast period. A few upcoming road construction projects in 2022, like the Etihad Rail construction, are underway and scheduled to be completed by mid-2024 and are expected to boost the demand for earthmoving construction machinery in the UAE construction equipment market. Other construction projects, such as the upgradation of the Dubai Transport Link, aim to boost road safety, increase vehicle capacity, and cut travel times by more than half.
  • In 2021, the Crown Prince of Ajman announced a USD 27.77 million package of infrastructure development projects in the northern emirate. Therefore, the Traffic and Transportation Plan 2030 will accelerate new public-private partnership projects in the sector over the forecast period.
  • Moreover, in Feb 2023, Dubai announced to build off a Loop, including a 57-mile-long enclosed bicycle and walking path to provide for the harsh desert conditions. The project is planned to connect more than 3 million residents. In addition, Dubai's RTA aims to extend the total length of cycling tracks to 819 km by 2026.
  • The UAE laid out 11 environmentally friendly energy projects worth USD 43 billion in 2022. Moreover, UAE has invested over USD 40 billion in clean energy over the last 15 years. It has plans to invest an additional USD 160 billion in clean and renewable energy sources over the next three decades.
  • Dubai's Decree No. 22 of 2022 aims to boost Real Estate investments in Dubai. Moreover, the Dubai government, in 2023, announced spending USD 1.72 billion for housing and land for 4,610 Emirati citizens. The UAE government also provides free land, housing, loans, and maintenance to deserving Emirates.

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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

  • Caterpillar
  • Komatsu
  • Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
  • Liebherr
  • Volvo Construction Equipment
  • Hitachi Construction Machinery
  • Zoomlion Heavy Industry Science & Technology Co., Ltd.
  • JCB
  • SANY
  • Kobelco

Other Prominent Vendors

  • CNH Industrial
  • HD HYUNDAI INFRACORE
  • Manitou
  • Liu Gong
  • ElectroMech

Distributor Profiles

  • Abdulla Saeedi Heavy Equipment Trading LLC
  • Anwar Al Quds Machinery
  • Kanoo Machinery
  • FAMCO
  • AL Mahroos
  • East And West Trading Est.
  • AL Waha Cranes
  • AL Marwan

Market Segmentation

Type

  • Earthmoving Equipment
    • Excavator
    • Backhoe Loaders
    • Motor Graders
    • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)
  • Road Construction Equipment
    • Road Rollers
    • Asphalt Pavers
  • Material Handling Equipment
    • Crane
    • Forklift & Telescopic Handlers
    • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
  • Other Construction Equipment
    • Dumper
    • Tipper
    • Concrete Mixture
    • Concrete Pump Truck

End Users

  • Construction
  • Mining
  • Manufacturing
  • Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

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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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