The construction equipment market in Middle East & Africa is expected to grow from US$20,483.57 million in 2022 to US$35,224.78 million by 2028. It is estimated to grow at a CAGR of 9.5% from 2022 to 2028.
Machine learning and artificial intelligence (AI) can assist firms in dealing with an aging workforce and professional skills shortage. AI-enabled machines can pave the way for precise and quick manufacturing, lowering production costs and shortening development time. While AI can alleviate a labor issue, it may also be able to make the equipment industry intuitive and adaptable. Some construction companies are already experimenting with AI-controlled wind turbines that can respond to changing weather conditions and foresee weather and wind changes. It has the potential to improve work efficiency and catastrophe management. In modern structures, AI is being utilized to plan the routing of electrical and plumbing systems. It is being used by businesses to construct workplace safety solutions. AI also helps track the real-time interactions of personnel, machines, and items on the job site and warns managers to avoid potential safety hazards, construction mistakes, and productivity concerns. Construction executives invest in areas where AI may influence their company's specific demands most. Early adopters would shape the industry's future and profit in the short and long term. These all advantages of AI would propel the growth of the construction equipment market in the coming years.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa construction equipment market at a substantial CAGR during the forecast period.
Machine learning and artificial intelligence (AI) can assist firms in dealing with an aging workforce and professional skills shortage. AI-enabled machines can pave the way for precise and quick manufacturing, lowering production costs and shortening development time. While AI can alleviate a labor issue, it may also be able to make the equipment industry intuitive and adaptable. Some construction companies are already experimenting with AI-controlled wind turbines that can respond to changing weather conditions and foresee weather and wind changes. It has the potential to improve work efficiency and catastrophe management. In modern structures, AI is being utilized to plan the routing of electrical and plumbing systems. It is being used by businesses to construct workplace safety solutions. AI also helps track the real-time interactions of personnel, machines, and items on the job site and warns managers to avoid potential safety hazards, construction mistakes, and productivity concerns. Construction executives invest in areas where AI may influence their company's specific demands most. Early adopters would shape the industry's future and profit in the short and long term. These all advantages of AI would propel the growth of the construction equipment market in the coming years.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa construction equipment market at a substantial CAGR during the forecast period.
Middle East & Africa Construction Equipment Market Segmentation
The Middle East & Africa construction equipment market is segmented by equipment type, application, and country.- Based on equipment type, the market is segmented into heavy construction vehicles, earthmoving equipment, material-handling equipment, and others. In 2022, the material-handling equipment segment held a larger market share and is expected to register a higher CAGR during the forecast period.
- Based on application, the market is segmented into residential, commercial, and industrial. The commercial segment held the largest market share in 2022 and is expected to register the highest CAGR in the market during the forecast period.
- Based on country, the regional market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of the MEA. In 2022, Saudi Arabia held a larger market share. It is also expected to register a higher CAGR during the forecast period.
Table of Contents
1. Introduction
3. Research Methodology
4. Middle East & Africa Construction Equipment Market Landscape
5. Middle East & Africa Construction Equipment Market - Key Market Dynamics
6. Middle East & Africa Construction Equipment Market Analysis
7. Middle East & Africa Construction Equipment Market - By Type
8. Middle East & Africa Construction Equipment Market - By Application
9. Middle East & Africa Construction Equipment Market - Country Analysis
10. Industry Landscape
11. Company Profiles
12. Appendix
Companies Mentioned
- Caterpillar Inc.
- CNH Industrial N.V.
- Komatsu Ltd.
- Liebherr
- Terex Corporation
- Zoomlion Heavy Industry Science&Technology Co., Ltd.
- J C Bamford Excavators Ltd. (JCB)
- Deere & Company
- AB Volvo
- Hitachi Construction Machinery Co., Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 131 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 20483.57 Million |
| Forecasted Market Value ( USD | $ 35224.78 Million |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 10 |
