The UAE Construction Equipment Rental Market is expecting less than 5% CAGR during 2022-27, states MarkNtel Advisors in their recent research report. The rapidly expanding construction activities in the country due to the growing government focus on the economic diversification away from oil is demonstrating massive investments in other sectors, including the construction industry. It, in turn, is propelling the demand for construction equipment across the UAE. However, since the availability & cost of equipment can vary from manufacturer to manufacturer, several construction projects are seeking equipment on a rental basis. Hence, the increasing requirements for construction equipment rental in the UAE are gaining swift momentum and positively influencing the market growth.
Besides, the emerging trends of equipment automation & telematics are generating significant growth opportunities for the leading market players to provide customers with technologically advanced construction equipment on rent that enables buyers to reduce purchase & maintenance expenses.
Moreover, several prominent players are providing professional machine operators & drivers along with the equipment to ensure convenient operations, thereby instigating the customer base across the country, further states the research report, “UAE Construction Equipment Rental Market Analysis, 2022.”
With Increasing Construction of Smart Homes & Cities, Residential Sector Dominates the Market
Amongst all end-users, the Residential sector is anticipated to dominate the UAE Construction Equipment Rental Market with the largest share during the forecast period. It attributes principally to the growing residential construction activities due to mounting population and an escalating influx of migrants, i.e., soaring the demand for housing complexes. Additionally, the UAE government's take in enhancing the country's infrastructure by massively investing in the construction of the residential sector is also propelling the demand for constructions equipment on rent & driving the market.
Besides, rising inclination toward building automation entwined with changing living standards and improving economic conditions of people are displaying their paradigm shift toward smart homes & cities. It, in turn, is further boosting constructions across the residential sector and augmenting the demand for construction equipment on rent, reveals MarkNtel Advisors in their research report, "UAE Construction Equipment Rental Market Analysis, 2022."
According to MarkNtel Advisors, the leading players in the UAE Construction Equipment Rental Market are Al-Mutawa Heavy Equipment, Mohamed Abdulrahman Al-Bahar, Al Faris, Johnson Arabia, Byrne Rental, Al Shola Rental, Yellow Cat Heavy Equipment, Aggreko, Tanzeem Heavy Equipment Rental, Gallagher International.
Key Questions Answered in the Study