January 29, 2021
According to latest research report titled ‘GCC Earthmoving Equipment Rental Market Analysis, 2020’, available with Market Study Report LLC, GCC earthmoving equipment rental market is projected to grow with a CAGR of 6.8% over 2020-2025.
Preference among construction companies to rent equipment to avoid additional expenditure on purchasing, tax, licensing, insurance, and storage, is primarily driving the GCC earthmoving equipment rental market growth. Moreover, inflowing foreign direct investment, hosting of international events in UAE and Qatar, and increasing development highways, airports, and metro are stimulating the market outlook.
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Based on equipment type, GCC earthmoving equipment rental market is classified into trenchers, bulldozers (over 30 tons, 11-30 tons, upto 10 tons), loaders (over 60 tons, 30-60 tons, upto 30 tons), graders (blade width > 30m, blade width < 30m), and excavators (over 30 tons, 10-30 tons, upto 10 tons).
The study on Gulf Cooperation Council earthmoving equipment rental industry provides vital information pertaining to favorable parameters, as well as restraints & challenges which determine the growth trajectory over 2020-2025. If further elaborates on the regional landscape, while entailing business profile and product portfolio of the key industry players.
Considering country-wise bifurcation, the report cites that Saudi Arabia contributed copiously towards GCC earthmoving equipment rental industry remuneration in 2019, owing to flourishing hospitality vertical, and heavy government funding towards infrastructural development.
Meanwhile, UAE earthmoving equipment rental market is reckoned to grow substantially over 2020-2025, on account of massive domestic & foreign investment in public and private sectors, and ongoing development of residential, transportation, and hospitality segments.
Major industry vendors include Hertz Dayim Equipment Rental Co., Abdullah H. Al Shuwayer Sons Company, Arabian Machinery & Heavy Equipment Co., Rezayat Sparrow Arabian Crane Hire Co., Al Mutawa Heavy Equipment Trading LLC, Johnson Arabia LLC, Quality Equipment Rental LLC, Byrne Equipment Rental LLC, Mohamed Abdulrahman Al-Bahar LLC, Al Faris Equipment Rentals LLC, Arabian Consolidated Trading Group, Saad Al Qahtani Contracting Co., Bin Quraya Rental, and Zahid Tractor and Heavy Machinery Co. Ltd.