GCC Construction Equipment Market Size by Volume to Reach 99,829 Units by 2027 - Arizton
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GCC Construction Equipment Market – Segmentation
GCC Construction Equipment Market by Moving Equipment
GCC Construction Equipment Market by Application
GCC Construction Equipment Market by Countries
GCC Construction Equipment Market – Dynamics
The surge in the construction sector and the support from the government in developing the housing market in GCC countries will drive the construction equipment market. GCC countries are boosting their efforts to improve the ability of low- and middle-income households to purchase affordable homes by bridging the gap between strong demand and poor supply of housing units for the lower income categories. In keeping with the Vision 2030 initiative, Saudi Arabia has taken unprecedented measures by announcing plans to build 1 million new housing units on top of existing ones. Housing policy in the UAE has centered mainly on providing housing advantages and services to low-income Emiratis through the federal government and various entities established within local governments. Similarly, according to the general budget for FY 2019, Oman has set up OMR 90 million ($233.8 million) for housing projects. Kuwait is investing in the construction of an extra 45,000 housing units as part of a five-year plan (2015-2020) to address the country's housing need over the next three to five years.
Key Drivers and Trends fueling Market Growth:
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