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GCC Construction Machinery Market Size (2024 - 2029)

The GCC Construction Machinery Market is projected to experience growth over the forecast period, driven by the expanding construction industry in the region and the increasing demand for cranes and automated machinery. The shift towards electrification of construction equipment in countries like Saudi Arabia and the United Arab Emirates is a notable trend, influenced by environmental concerns and government initiatives. Despite challenges posed by the rising demand for rental services, the market is expected to benefit from increased government infrastructure investment and the launch of new development projects, which will stimulate demand for construction machinery.

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Market Size of GCC Construction Machinery Industry

GCC Construction Machinery Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 6.5 Billion
Market Size (2029) USD 8.90 Billion
CAGR (2024 - 2029) 6.04 %
Market Concentration Medium

Major Players

GCC Construction Machinery Market Major Players

*Disclaimer: Major Players sorted in no particular order

GCC Construction Machinery Market Analysis

The GCC Construction Machinery Market size is estimated at USD 6.5 billion in 2024, and is expected to reach USD 8.90 billion by 2029, growing at a CAGR of 6.04% during the forecast period (2024-2029).

Over the medium term, the market is likely to grow due to factors like the GCC's expanding construction industry, rising crane demand, and the growing trend toward automation and telematics for market expansion. However, the region's sales and growth of new construction equipment may be hampered by rising demand for rental services.

The electrification of construction equipment in GCC countries such as Saudi Arabia and the United Arab Emirates has emerged as a significant trend within the construction industry. This shift toward electric machinery is driven by a variety of factors, including environmental concerns, government initiatives, and the desire for increased efficiency in infrastructure development.

Due to the numerous building and water projects underway in countries like Oman and the United Arab Emirates, cranes are anticipated to dominate the machinery market. After experiencing significant pressure as a result of a prolonged decline in oil prices, the construction industries in Saudi Arabia and the United Arab Emirates are now recovering. However, the construction industry is expected to benefit from the government's increased infrastructure investment and the increased launch of development projects in the upcoming years. Private sector developers may also be encouraged to advance their projects, which will further boost the demand for construction machinery.

GCC Construction Machinery Industry Segmentation

Machinery and equipment used to complete various construction activities are considered construction machinery. The scope of the study includes excavators, loaders, road rollers, bulldozers, mobile cranes, and motor graders. The GCC construction machinery market has been segmented by machinery type, application type, propulsion type, and country.

By machinery type, the market is segmented into cranes, excavators, loaders and backhoes, motor graders, telescopic handlers, and other machinery types. By application type, the market is segmented into concrete construction equipment, road construction equipment, Earth moving equipment, and material handling equipment. By propulsion type, the market is segmented into internal combustion engine (ICE) and electric/hybrid. By country, the market is segmented into Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Bahrain. The report offers market size and forecasts in value (USD) for all the above segments.

By Machinery Type
Cranes
Excavators
Loaders and Backhoes
Motor Graders
Telescopic Handlers
Other Machinery Types
By Application Type
Concrete Construction Equipment
Road Construction Equipment
Earth Moving Equipment
Material Handling Equipment
By Propulsion Type
Internal Combustion Engine (ICE)
Electric/Hybrid
By Country
Saudi Arabia
United Arab Emirates
Kuwait
Qatar
Oman
Bahrain
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GCC Construction Machinery Market Size Summary

The GCC construction machinery market is poised for significant growth over the forecast period, driven by the region's expanding construction industry and increasing demand for advanced machinery. The shift towards automation and telematics, along with the electrification of construction equipment, is reshaping the market landscape. Countries like Saudi Arabia and the United Arab Emirates are at the forefront of this transformation, propelled by government initiatives and a focus on efficiency and sustainability. The recovery of the construction sectors in these nations, following a downturn due to low oil prices, is supported by increased infrastructure investments and the launch of numerous development projects. This resurgence is further bolstered by the growing demand for housing and commercial infrastructure, as well as modernization efforts aimed at enhancing energy efficiency.

The competitive environment in the GCC construction machinery market is characterized by the presence of numerous international companies, which are actively launching next-generation products and expanding their regional footprint to meet the rising demand. The United Arab Emirates, in particular, is expected to experience the fastest growth rate in the region, driven by substantial investments in energy and infrastructure projects. The government's commitment to initiatives like the Projects of the 50 and the Vision 2030 plans in Saudi Arabia are set to attract significant foreign direct investment and accelerate economic diversification. As a result, the demand for construction machinery is anticipated to remain robust, with major players continuously innovating to cater to the evolving needs of the market.

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GCC Construction Machinery Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Electrification of Construction Equipment May Propel the Market Growth

    2. 1.2 Market Restraints

      1. 1.2.1 Construction Rental Business May Hamper Market Growth

    3. 1.3 Industry Attractiveness - Porter's Five Forces' Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size in USD Billion)

    1. 2.1 By Machinery Type

      1. 2.1.1 Cranes

      2. 2.1.2 Excavators

      3. 2.1.3 Loaders and Backhoes

      4. 2.1.4 Motor Graders

      5. 2.1.5 Telescopic Handlers

      6. 2.1.6 Other Machinery Types

    2. 2.2 By Application Type

      1. 2.2.1 Concrete Construction Equipment

      2. 2.2.2 Road Construction Equipment

      3. 2.2.3 Earth Moving Equipment

      4. 2.2.4 Material Handling Equipment

    3. 2.3 By Propulsion Type

      1. 2.3.1 Internal Combustion Engine (ICE)

      2. 2.3.2 Electric/Hybrid

    4. 2.4 By Country

      1. 2.4.1 Saudi Arabia

      2. 2.4.2 United Arab Emirates

      3. 2.4.3 Kuwait

      4. 2.4.4 Qatar

      5. 2.4.5 Oman

      6. 2.4.6 Bahrain

GCC Construction Machinery Market Size FAQs

The GCC Construction Machinery Market size is expected to reach USD 6.5 billion in 2024 and grow at a CAGR of 6.04% to reach USD 8.90 billion by 2029.

In 2024, the GCC Construction Machinery Market size is expected to reach USD 6.5 billion.

GCC Construction Machinery Market Report Snapshots

GCC Construction Machinery Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)