Ethiopia and Djibouti Heavy Equipment Market 2020 Projections, SWOT Analysis, Size and Forecast by 2026

According to a new report published by Allied Market Research, titled, "Ethiopia and Djibouti Heavy Equipment Market: Opportunity Analysis and Industry Forecast, 2019-2026,"the Ethiopia and Djibouti heavy equipment market size was $323.9 million in 2018, and is projected to reach $496.1 million in 2026, growing at a CAGR of 5.6%. The original equipment segment accounted for over fourth-fifths of the Ethiopia and Djibouti heavy equipment market share in 2018 and is expected to witness significant growth during the forecast period.

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Heavy equipment are machines used for activities involved in earthwork such as excavation, heavy lifting, tunneling, and material handling. The market is mainly driven by residential & commercial growth, and rise in economy. However, higher carbon emission and increase in oil prices are some factors that limit the growth of the Ethiopia and Djibouti heavy equipment market.

Development in technology, such as the use of telematics and internet of things (IoT) in heavy equipment by key players such as Volvo CE and others, is one of the major factors that drives the market. Currently, prominent players lead the heavy equipment market with their extensive distribution network and advanced product portfolio, which is a major compelling factor for the market growth. Further, key players through their distribution network are focused on introducing innovative, high performance, reliable, and advanced heavy equipment in the market. For example, mini excavator SK55SRX by Kobelco offers high performance and silent operation. Moreover, rise in the public-private partnerships in the region are anticipated to fuel the growth of the Ethiopia and Djibouti heavy equipment industry.

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The growth in the demand for infrastructure development largely drives the market. The heavy equipment market is experiencing continuous growth along with the rise in demand for industrial, residential, and commercial infrastructure setup. In the emerging economies such as Ethiopia and Djibouti, infrastructural development has created the need for heavy equipment and positively influenced the market. The development of urban infrastructure such as housing, sanitation & water supply, road transport system, and mass rail-transit systems, has gained significant attention in the region. The Ethiopia-Djibouti water pipeline project was launched in 2017. This project was financed by the Export-Import Bank of China and the construction was done by a construction company in China named CGC Overseas Construction Co Ltd. (CGCOC).

Key Benefits:
o The report provides a qualitative and quantitative analysis of the current keyword market trends, forecasts, and market size from 2020 to 2026 to determine new opportunities.
o Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make strategic business decisions and determine the level of competition in the industry.
o Top impacting factors & major investment pockets are highlighted in the research.
o The major countries in each region are analyzed and their revenue contribution is mentioned.
o The market player positioning segment provides an understanding of the current position of the market players active in the keyword.

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