Market Share of GCC Construction Machinery Industry
The GCC construction machinery market is mostly characterized by the presence of numerous international companies, resulting in a highly competitive market environment. Major players have been launching next-generation products and expanding their regional presence to cater to this anticipated rise in demand for construction equipment owing to the rise in construction projects and investments around GCC countries. For instance,
- In August 2023, Hitachi Construction Machinery Middle East Corporation FZE announced the launch of its new product, the ZW370-5A wheel loader, in the United Arab Emirates.
- In March 2022, Iridium Communications Inc. announced that it had jointly developed a link belt excavator with Sumitomo Construction Machinery Co. Ltd. Through this partnership, SCM initially added Iridium's Short Burst Data Service to its Remote CARE service platform.
GCC Construction Machinery Market Leaders
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Caterpillar
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Komatsu
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Liebherr International AG
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Volvo Construction Equipment Corp.
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Kobelco Construction Machinery
*Disclaimer: Major Players sorted in no particular order
