Construction Equipment Around the Globe

The needs of construction equipment vary from market to market, and watching the trends happening across the globe are critical to driving new innovation forward.

For instance, the market in the Gulf Cooperation Council (GCC) region was sustained by factors such as a growing construction market and utility projects in UAE, Saudi Arabia, and Qatar. Saudi Arabia held majority of the marketshare followed by UAE and Qatar.

The GCC construction equipment market is anticipated to improve due to the recovery of oil prices and initiatives taken by the various governments to diversify the economies.

Declining global oil prices resulted in a slowdown in infrastructure spending, which halted several projects in the region. Saudi Arabia witnessed the impact of the declining oil revenues. The utility sector recorded investments due to growing demand for energy, which fueled the growth of the market.

Government spending to expand the existing infrastructures combined with new projects and budding utility projects in countries such as Qatar, Saudi Arabia, and UAE have resulted in the demand.

Among all construction equipment segments, earthmoving equipment held a majority revenue share followed by mobile cranes and dump trucks.

Countries such as UAE and Qatar are expected to register growth on account of upcoming World Expo in Dubai 2020 and FIFA World Cup in Qatar in 2022. As the projects in this region grow, the opportunities for contractors do as well.

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