GCC Construction Equipment Market to Grow at CAGR of 1.6% till 2022, Predicts 6Wresearch in Its Report Recently Uploaded at MarketPublishers.com01 Dec 2016 • by Natalie Aster
LONDON – Nowadays, the construction equipment market in the GCC region is gaining traction on the back of expanding construction market and several ongoing utility projects in the UAE, Qatar and Saudi Arabia. But, falling oil prices caused a slowdown in the infrastructure spending and, thus, haltered several projects in this region; the major impact was registered in Saudi Arabia, which commands the lion’s share of the total regional market for construction equipment. However, the regional utility sector witnessed increased investments owing to accelerating demand for energy, which encouraged positive growth in the GCC construction equipment market.
Through 2022, the market for construction equipment in the GCC region is likely to exhibit growth at a 1.6% CAGR. Up to 2017, the regional construction equipment will likely continue to be hampered by lower governmental spending on the back of reduced oil revenues. However, since 2017 the market is slated to see improvements in the wake of recovering oil prices and new favourable government initiatives.
Moreover, growth in the construction equipment market in the GCC region is anticipated to be supported by the forthcoming World Expo in Dubai (in 2020) as well as FIFA World Cup in Qatar (in 2022).
New topical research report “GCC Construction Equipment Market (2016-2022): By Equipment Types, Applications and Countries” prepared by 6Wresearch is a trustworthy source of top-level info on the current situation in the construction equipment market in the GCC region. The up-to-date report delves into the market segmentation on the basis of equipment types, applications and regions. Ongoing and future market trends, possible growth opportunities, lucrative growth areas, market growth driving and limiting forces are thoroughly examined here. The report also comprises reliable data on the latest government initiatives and the recent industry developments. Moreover, it uncovers the major regulative policies, looks at the market dynamics and also includes future forecasts for the GCC construction equipment market up till 2022.
Other research publications elaborated by 6Wresearch are at hand in this catalogue.