The Earthmoving equipment rental market in GCC is expanding at a robust rate owing to the factor such as rising inflow of foreign direct investments, increasing companies inclination towards the use of rental equipment and bolstering government spending towards the expansion of road, rail, transportation, and airport infrastructures. UAE government have a strong pipeline of transport infrastructure projects planned under the Traffic and Transportation Plan 2030. Moreover, the COVID-19 pandemic has a pessimistic impact on the growth of the market. This is due to temporarily suspension of construction activities in various countries due to the Covid-19 outbreak along with shortage of labor, and disrupted supply chain has hampered the demand for rental earthmoving equipment in the region.
According to MarkNtel Advisors’ research report “GCC Earthmoving Equipment Rental Market Analysis, 2020”, the GCC Earthmoving Equipment Rental market is anticipated to grow at a considerable CAGR during 2020-25. Based on type of equipment, Excavators grabbed the highest chunk in the market in 2019 on account of burgeoning infrastructure construction activities, such as roads, highways, metros, airports, bridges, along with refurbishment activities associated with residential and hospitality construction. Moreover, the introduction of advanced technologies, such as IoT and telematics in excavator by the equipment provider is driving the growth of the market in the coming years.
“GCC Earthmoving Equipment Rental Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Earthmoving Equipment Rental providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Commercial Segment Acquired the Largest Market Share
Based End-User, Commercial segment acquired the largest market share in the GCC earthmoving equipment rental market in 2019. The surging investment towards the hospitality and transportation sector owing to the host of Expo 2021 and FIFA world cup 2022 in Qatar is anticipated to fuel the demand for equipment rental in the forthcoming years. Moreover, residential sector is also anticipated to witness robust growth in the during 2020-25. The burgeoning population in the region and rising government spending in the residential sector are anticipated to place a positive impact on the growth of Earthmoving equipment rental market in the forthcoming timeline.as stated in MarkNtel Advisors’ research report “GCC Earthmoving Equipment Rental Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the GCC Earthmoving Equipment Rental market are Zahid Tractor and Heavy Machinery Co., Ltd., Bin Quraya Rental, Saad Al Qahtani Contracting Co., Arabian Consolidated Trading Group, Al Faris Equipment Rentals LLC, Hertz Dayim Equipment Rental Co., Mohamed Abdulrahman Al-Bahar LLC, Byrne Equipment Rental LLC, Al Mutawa Heavy Equipment Trading LLC, Quality Equipment Rental LLC etc.
1. By Type of Equipment (Excavator, Graders, Loaders, Bulldozers, Others)
2. By End Users (Residential, Commercial, Industrial)
3. By Country (UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman)
4. By Competitors (Zahid Tractor and Heavy Machinery Co., Ltd., Bin Quraya Rental, Saad Al Qahtani Contracting Co., Arabian Consolidated Trading Group, Al Faris Equipment Rentals LLC, Hertz Dayim Equipment Rental Co., Mohamed Abdulrahman Al-Bahar LLC, Byrne Equipment Rental LLC, Al Mutawa Heavy Equipment Trading LLC, Quality Equipment Rental LLC etc.)
Key questions answered in the study:
1. What are the current and future trends of the GCC Earthmoving equipment Rental?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the GCC Earthmoving equipment Rental?
6. What are the customer orientation, purchase behavior, and expectations from the rental Earthmoving equipment companies across various regions?