The GCC earthmoving equipment rental market is anticipated to witness robust growth in the forecast period owing to burgeoning number of various infrastructure development projects under national plans such as UAE Vision 2021, Saudi Arabia vision 2030, countries like the UAE and Qatar being the hosts of international events in the countries, which is leading to a positive impact on the hospitality sector and a greater adoption of rental equipment by various companies. In addition, rise in foreign direct investments, upcoming transport infrastructure projects, and extensive government investment in the utility sector are some of the factors strongly contributing toward the growth of the market in the forthcoming timeline.
However, the outbreak of COVID-19 has impacted the growth of the earthmoving equipment rental market on account of lockdown imposition in the countries which has temporarily suspended various construction activities across the region.
According to MarkNtel Advisors’ research report titled “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 End User, the Residential sector acquired a considerable market share in 2019 on account of factors such as robust urbanization, booming population, and launch of various residential projects by the government. Moreover, the commercial segment is projected to grow at the highest CAGR by 2025. This is due to burgeoning government initiatives to enhance public infrastructures such as schools, parks, and shopping complexes, and rising investments in the development of highways and urban transports. Hence, this is expected to propel the growth of the earthmoving equipment rental market in the near future.
“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 growth opportunities available for Earthmoving Equipment Rental providers across the region. 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.
The UAE to Register Fastest Growth
The UAE is expected to attain highest CAGR by 2025 in the GCC earthmoving equipment rental market due to robust growth in various sectors such as transportation, hospitality, and retail on account of the country being the host of EXPO 2021 in Dubai and extensive investments in the refurbishment of hotels, shopping malls, airports, and metro stations. Besides these, rapid industrialization and urbanization, rising government expenditure on smart cities, and surging demand for advance equipment 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?