Ethiopia Construction Equipment Market Overview
The construction equipment market in Ethiopia is driven by the extensive road network expansion plans by the government of Ethiopia. Rapid development has created an opportunity for Chinese and European construction equipment companies to invest in the country. Local manufacturing of construction equipment in the country is non-existent and the market is primarily import driven.
According to 6Wresearch, the Ethiopia Construction equipment market size is projected to grow at a CAGR of 6.1% during 2019-25. The construction application segment is the key revenue-generating segment in the overall Ethiopian construction equipment market share owing to the widespread expansion and development of the road networks in the country. Further, government initiatives such as Ethiopia Vision 2025, Growth and Transformation Plan – II, and massive infrastructure projects such as The Great Renaissance Dam would lead to growth in demand for construction equipment in Ethiopia.
Ethiopia construction equipment market is expected to register sound revenues in the foreseeable future backed by the rapid change in the modernization era coupled with an increase in transportation infrastructures such as railways and road construction through using construction equipment and is expected to acquire high sales revenues in the coming years. Moreover, on the basis of end-users, the power utility industry is expected to dominate the overall market revenues owing to rising hydroelectricity projects such as the Hydroelectric power plant installation in the country, and would instigate the deployment for construction equipment and would spur the progressive Ethiopia construction equipment market growth in the coming years.
Key Highlights of the Report:-
- Ethiopia Construction Equipment Market Overview
- Ethiopia Construction Equipment Market Outlook
- Ethiopia Construction Equipment Market Forecast
- Market Drivers and Restraints
- Ethiopia Construction Equipment Market Trends and Development
- Ethiopia Construction Equipment Market Share, By Players
- Ethiopia Construction Equipment Market Overview on Competitive Benchmarking
- Company Profiles
- Strategic Recommendations
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