London, 12 March 2015: TechNavio, the independent tech-focused global research firm, has published a report on the Earthmoving Equipment Market in the UAE 2015-2019, which is expected to grow at CAGR of 7.99 percent during the forecast period of 2014-2019.
Certifications for green buildings in the UAE are provided by Leadership in Energy and Environmental Design, Building Research Establishment Environmental Assessment Methodology, and Estidama Pearl Rating. This requires minimization of emissions and pollution throughout the lifecycle of the project and this has led to an imminent rise in demand for energy-efficient equipment in the Earthmoving Equipment market in the UAE. Manufacturers are now focusing on development of energy-efficient and technologically advanced earthmoving equipment to meet growing demand.
“To meet rising demand for fast and superior-quality infrastructure construction, construction companies in the UAE have begun to replace their dated equipment with energy-efficient, powerful, and low-emission equipment,” says Faisal Ghaus, Vice President of TechNavio.
“Construction companies in the UAE have assessed this need for replacement of old equipment and equipment manufacturers are engaged in manufacturing technologically advanced equipment.”
Key Market Drivers
- Upcoming Mega Events
- Need for Replacement of Older Earthmoving Equipment
- Growth of Tourism Industry
Key Market Trends
- Growth of Equipment Rental Business
- Rise in Demand for Energy-efficient Equipment
- Provision of Attractive Financing Options
Key Market Vendors
- Caterpillar Inc.
- J.C. Bamford Excavators Ltd. (JCB)
- Komatsu Ltd.
- Volvo AB
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
