GCC Construction Machinery Market Size (2024 - 2029)

GCC Construction Machinery Market Analysis

The GCC Construction Machinery Market size is estimated at USD 6.5 billion in 2024, and is expected to reach USD 8.90 billion by 2029, growing at a CAGR of 6.04% during the forecast period (2024-2029).

Over the medium term, the market is likely to grow due to factors like the GCC's expanding construction industry, rising crane demand, and the growing trend toward automation and telematics for market expansion. However, the region's sales and growth of new construction equipment may be hampered by rising demand for rental services.

The electrification of construction equipment in GCC countries such as Saudi Arabia and the United Arab Emirates has emerged as a significant trend within the construction industry. This shift toward electric machinery is driven by a variety of factors, including environmental concerns, government initiatives, and the desire for increased efficiency in infrastructure development.

Due to the numerous building and water projects underway in countries like Oman and the United Arab Emirates, cranes are anticipated to dominate the machinery market. After experiencing significant pressure as a result of a prolonged decline in oil prices, the construction industries in Saudi Arabia and the United Arab Emirates are now recovering. However, the construction industry is expected to benefit from the government's increased infrastructure investment and the increased launch of development projects in the upcoming years. Private sector developers may also be encouraged to advance their projects, which will further boost the demand for construction machinery.

GCC Construction Machinery Industry Segmentation

Machinery and equipment used to complete various construction activities are considered construction machinery. The scope of the study includes excavators, loaders, road rollers, bulldozers, mobile cranes, and motor graders. The GCC construction machinery market has been segmented by machinery type, application type, propulsion type, and country.

By machinery type, the market is segmented into cranes, excavators, loaders and backhoes, motor graders, telescopic handlers, and other machinery types. By application type, the market is segmented into concrete construction equipment, road construction equipment, Earth moving equipment, and material handling equipment. By propulsion type, the market is segmented into internal combustion engine (ICE) and electric/hybrid. By country, the market is segmented into Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Bahrain. The report offers market size and forecasts in value (USD) for all the above segments.