Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Sep 30, 2022--
The "Egypt Construction Equipment Market Outlook: Market Forecast By Types (Mobile Cranes, Construction Tractors/Bulldozer, Earthmoving Equipment, Forklift, Dump Truck, Road Construction Equipment), By Applications, By Regions, And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Egypt Construction Equipment market size is projected to grow at a CAGR of 6.4% during 2022-2028.
Egypt Construction Equipment Market report comprehensively covers the Egypt construction equipment market by types, applications, and regions.
Egypt construction equipment market report provides an unbiased and detailed analysis of the construction equipment market on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Egypt Construction Equipment Market Synopsis
Egypt construction equipment market grew significantly before 2020 on account of government expenditure on infrastructure development activities. However, the market declined in 2020 due to the global pandemic which resulted in the cancellation of many large-scale construction projects, thereby affecting the demand for construction equipment negatively.
However, the rising government infrastructure spending underpinned by initiatives such as Sustainable Development Vision 2030 coupled with rising FDI, and private sector investment would drive the construction equipment market in Egypt.
The spread of the COVID-19 pandemic has resulted in slowdown of the overall economy leading to the temporary halt in many construction projects across the region, thereby impacting the construction equipment market in Egypt. However, the market has regained momentum in 2021 and is expected to grow significantly in the coming years.
Based on types, the earthmoving equipment has garnered the major market revenue share in Egypt's construction equipment market owing to its prevalent usage in sectors such as mining, transportation and commercial, where they are extensively used for excavating, lifting heavy weights, and laying railway tracks.
However, in terms of volume Forklifts held the largest Egypt construction equipment market share followed by earthmoving equipment segment owing to its maximum use in retail and logistics sector for moving packages from one place to another.
Market by Application Analysis
By application, the construction application segment is expected to demonstrate significant growth over the coming years owing to a large number of upcoming infrastructure projects in the region.
Additionally, the rising hotel chains and entertainment areas on account of Egypt Vision 2030 to boost the tourism sector have further escalated the demand for construction equipment in the country.
Based on regions, central region of Egypt is anticipated to register fastest growth in the forecast period on the back of many upcoming infrastructure development projects in the region.
Key Highlights of the Report
Company Profiles
Key Attractiveness of the Report
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
By Applications
By Regions
For more information about this report visit https://www.researchandmarkets.com/r/4ptqps.
View source version on businesswire.com:https://www.businesswire.com/news/home/20220930005497/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD: AFRICA EGYPT
INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 09/30/2022 11:57 AM/DISC: 09/30/2022 11:57 AM
http://www.businesswire.com/news/home/20220930005497/en