Delta, BC -- (SBWIRE) -- 08/28/2020 -- The UAE constructional equipment rental market is expected to grow at a rapid rate in the forthcoming years on account of launch of various government initiative such as Dubai Tourism Strategy 2020, Sharjah Tourism Vision 2021 in order to boost tourism sector. Additionally, host of World Expo 2020 in Dubai is infusing the growth in the hospitality sector on account of surging hotel expansion, upgradation, and development. Moreover, the burgeoning government investment towards commercial and residential sector and cost-efficiency associated with the rental equipment is accelerating the growth of the market.

According to MarkNtel Advisors' research report "UAE Construction Equipment Rental Market Analysis, 2020", the UAE Construction Equipment Rental market is anticipated to grow at a CAGR of 5% during 2020-25. In order to avoid investment related to the purchase of the construction equipment and expense related to the maintenance, installation, and transportation expenses is encouraging the construction companies to opt rental equipment.Moreover, the availability of advanced technologies, such as IoT and telematics in construction equipment at rental is proliferating the demand for advanced equipment which is further projected to boost the market growth in the forthcoming period.

The earth moving equipment acquired the highest share in the UAE Construction Equipment Rental market in 2019 as these have wider application in construction, mining. Earth moving equipment includes skid-steer loaders, backhoe loaders, crawler excavators, and mini excavators Besides this, the burgeoning investment by the government for the infrastructural development and rising construction activities in the residential and commercial sectors is proliferating the market growth. The investment in the earth moving equipment is generally due to which construction companies prefer rental services which enable them to work efficiently.

Dubai grabbed the majority market share in the UAE Construction Equipment Rental market in 2019.The market growth is attributed to soaring investment for World Expo 2020, burgeoning spending by the government on hospitality and transportation sectors under Dubai's tourism vision 2020 and burgeoning smart city projected and construction projects across the commercial and residential verticals.

According to MarkNtel Advisors', the key players with a considerable market share in the UAE Construction Equipment Rental market areAl Mutawa Heavy Equipment, Mohamed Abdulrahman Al-Bahar, Al Faris, Johnson Arabia, Byrne Rental, Al Shola Rental, etc.

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About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.