January 05, 2021
According to the market research report titled ‘UAE Construction Equipment Rental Market Analysis, 2020’ available with Market Study Report LLC, UAE construction equipment rental market is estimated to register a compound annual growth rate of 5% over the forecast period of 2020-2025.
As per the report, favorable initiatives aimed at the development of the tourism sector, rising number of tourists, increasing establishment of hotels, and flourishing hospitality vertical are augmenting the growth of UAE construction equipment rental market.
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Additionally, high purchase prices associated new construction equipment are compelling consumers to opt for rental alternatives, which in turn is stimulating the overall market outlook.
Based on equipment type, UAE construction equipment rental market is bifurcated into material handling equipment, construction vehicle, earth moving equipment, and other construction and tunneling equipment. Among these, the earth moving equipment segment is slated to accrue substantial revenue during the analysis timeframe, owing to escalating product demand from construction activities in the commercial and residential sectors.
With regards to end-user terrain, the industry is divided into industrial, residential, and commercial. Among these, the residential and commercial sectors accounted for a majority of the overall market share in 2019 and are expected to grow significantly through 2025. Favorable government initiatives towards boosting infrastructural development are fostering the expansion of the sectors.
Elaborating on equipment type, UAE construction equipment rental market is segmented into power shovels, suction excavators, dragline, black hoe, and others. Moving on to equipment weight, the market is split into up to 10 tons, 10 to 30 tons, and more than 30 tons.
Leading players that formulate the competitive landscape of the market are Gallagher International LLC, Tanzeem Heavy Equipment Rental LLC, Aggreko plc, Yellow Cat Heavy Equipment, Al Shola, Byrne Equipment Rental LLC, Johnson Arabia LLC, Al Faris Group, Mohamed Abdulrahman Al-Bahar LLC, and Al Mutawa Heavy Equipment Trading LLC.