CE market in GCC region to grow at 1.6percent CAGR
According to 6Wresearch, GCC construction equipment (CE) market is forecast to grow at a CAGR of 1.6 per cent during 2016-22. The GCC construction equipment market is highly consolidated, wherein few international players have acquired majority of the market share. International players have maintained their presence through tie-ups with local distributors/dealers.

Prijo Samuel, Assistant Manager, Research and Consulting, 6Wresearch, said, ?Though market for construction equipment was affected due to falling oil prices, it is expected to regain momentum post 2017 due to recovery of the prices and initiatives taken by the governments to diversify their country?s economies. Further, in GCC construction equipment market, earthmoving equipment held the highest revenue share in the market and is anticipated to follow similar trend in the forecast period as well. Government initiatives for developing public infrastructures in Kuwait, Qatar, Saudi Arabia and UAE would result in the growth of construction equipment market.?