Ethiopia and Djibouti Heavy Equipment Market

Ethiopia and Djibouti heavy equipment market size was USD 402.78 Million in 2022 and is likely to reach USD 657.72 Million by 2031, expanding at a CAGR of 5.6% during 2023–2031. Heavy construction equipment is referred to as large scale machinery since it is utilized to eliminate the requirement for personnel and boost efficiency on a large scale while also reducing process time limits. These are utilized in a variety of industries, including construction, mining, military, oil & gas, agricultural, and forestry. Earthmoving machinery, roadway machinery, material handling machinery, and other types of heavy equipment are all examples of heavy equipment. Heavy construction equipment is also in high demand in other industries such as infrastructure, commercial structures, and residential constructions. Earthmoving equipment is used to move huge amounts of soil or to excavate foundations and landscape areas; highway machinery, such as graders, road rollers, and pavers, are used to build roadways, and material handling equipment is used to carry raw, discarded material from one location to another. 

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Ethiopia and Djibouti Heavy Equipment Market Trends, Drivers, Restraints, and Opportunities:

• Growing emphasis on workplace safety, and widespread use of material handling in the industrial sector, are projected to boost the market.

• Increasing urbanization and the accelerated expansion of existing cities fuel the market.

• Increasing mining activities, which fuels the demand for heavy construction equipment used in material handling, is estimated to drive the market.

• Introduction of new technology for heavy construction equipment accelerates the market expansion.

• High capital investment, followed by the sale of used and rented equipment in Ethiopia and Djibouti, is a major constraint for the market growth.

• Lack of skilled and experienced operators, as well as expensive cost of maintaining construction equipment, hinders the market growth.

• The increased acceptance of heavy construction equipment due to technological advancements, as well as the rapid building of numerous commercial and residential projects in most locations, is offering lucrative opportunities for market growth.

Scope of Ethiopia and Djibouti Heavy Equipment Market Report

The report on Ethiopia and Djibouti heavy equipment market include an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Ethiopia and Djibouti Heavy Equipment Market Segment Insights

The earth moving machinery segment is projected to hold significant market share

Based on machinery types, the Ethiopia and Djibouti heavy equipment market can be segregated into roadway machinery, material handling machinery, earth moving machinery, and others. The earth moving machinery segment is projected to hold significant market share. The need for earth moving machinery equipment is expected to raise as the cost of industrial and commercial development projects rises. Large uses of earthmoving equipment, such as constructing, repairing, mining, elevating, demolition, and agricultural, are also driving the segment.

The excavating segment is anticipated to account for a substantial share

On the basis of functions, the market can be segmented into drilling, excavating, hauling, paving & grading, and others. The excavating segment is anticipated to account for a substantial share, owing to rising extraction of precious metals and minerals around the world, as well as increasing use in natural disasters where excavators are utilized in rescue operations.

The aftermarket segment is expected to expand at a robust pace in the coming years

In terms of business types, the Ethiopia and Djibouti heavy equipment market can be divided into aftermarket and original equipment. The aftermarket segment is expected to expand at a robust pace in the coming years, due to the increasing use of construction equipment in mining, infrastructure building, and energy transformation activities.

The construction segment is anticipated to grow at a high CAGR  

In terms of end-users, the market can be fragmented into agriculture, construction, energy, mining, transportation, and others. The construction segment is anticipated to grow at a high CAGR during forecast period, owing to the growing knowledge about construction equipment efficiency and performance, as well as increased industrial and construction development projects, which are expected to drive the segment. The development of new technology for construction machinery, as well as rising population migration to metropolitan regions, is the primary drivers of the segment.

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Segments

By Machinery Types

• Roadway Machinery
• Material Handling Machinery
• Earth Moving Machinery
• Others

By Functions

• Drilling
• Excavating
• Hauling
• Paving & Grading
• Others

By Business Types

• Aftermarket
• Original equipment

By End-users

• Agriculture
• Construction
• Energy
• Mining
• Transportation
• Others

By Country

• Ethiopia
• Djibouti

By Key Players

• AB Volvo
• Doosan Infracore Co. Ltd.
• Hitachi Ltd.
• Deere & Company
• J C Bamford Excavators Ltd.
• Caterpillar Inc.
• Komatsu Ltd.
• Liebherr-International AG
• CNH Industrial N.V.
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)

Competitive Landscape

Key players in Ethiopia and Djibouti heavy equipment market include AB Volvo; Doosan Infracore Co. Ltd.; Hitachi Ltd.; Deere & Company; J C Bamford Excavators Ltd.; Caterpillar Inc.; Komatsu Ltd.; Liebherr-International AG; CNH Industrial N.V.; and Xuzhou Construction Machinery Group Co., Ltd. (XCMG). These players are actively engaged in various market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to strengthen their geographical presence and expand their customer base globally.