Demand for construction machinery to soar as huge regional development continues
Demand for construction machinery in the Middle East is set to soar as the construction industry recovers from the economic downturn and the region forges ahead with major development.
According to industry experts, there are positive signs of recovery in the GCC construction industry and there are a number of factors which will drive ongoing demand for machinery.
Humaid Salem, General Manager of the UAE Contractor’s Association said: “As major developers start to repay contractors, they will be able to repay their sub-contractors and suppliers, giving a major boost to the industry as a whole. This will lead to more growth in the sector, and create a renewed demand for construction machinery as new projects get underway.”
Dr Nasser Hamad Al Hajeri, Chairman of Gulf Automobile Industry Corp said the scale and number of development projects, particularly in Saudi Arabia, will increase demand for construction machinery. “We are witnessing high demand in Saudi Arabia and Qatar due to the large number of major construction projects there, and demand is also growing in the UAE. To meet market demand, we are launching a light duty truck with capacity from 1 to 10 tonnes and a wheel loader towards the end of the year.”
With more than US$1.3 trillion projects on the horizon in the GCC, according to the latest data from MEED Projects, manufacturers and suppliers of plant, machinery and construction vehicles will have an excellent opportunity to capitalise on Middle East construction growth when the Big 5 PMV (www.big5pmv.com) returns to Dubai in November.
- Construction boom tops US$2.4 trillion in Gulf projects
- Middle East demand for construction machinery soars as huge regional development continues
- Saudi private sector to invest US$150 billion in real estate projects until 2012
- Gulf region: Demand for non-wovens machinery up by 8% per year
- Chinese construction giant builds Dubai base