The latest intelligence report published by Report Ocean, titled”Ethiopia and Djibouti Heavy Equipment Market”2023: Increase in Demand and Opportunities,” offers valuable insights into the industry. The report provides a comprehensive analysis of research and information from various sources, empowering decision-makers worldwide to make a significant impact on the global economy.
With a dynamic vision of the market size, statistics, and competitive landscape, the report presents a complete overview of the industry. It covers future trends, growth factors, consumption, production volume, CAGR value, opinions, profit margin, pricing, and industry-validated market data. This report assists individuals and market competitors in predicting future profitability and making crucial decisions for business growth.
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%. Heavy equipment includes heavy-duty vehicles that are explicitly designed for use in many construction processes such as hauling, drilling, paving, grading, and excavating. The players in the heavy equipment market supply products to several industries, including construction, mining, agriculture, and energy.
How Expansive is the Ethiopia and Djibouti Heavy Equipment Market?
The Ethiopia and Djibouti heavy equipment industry experiences growth owing to several factors such as rapid urbanization, rise in the construction industry, and high-tech innovations, which propel the development of the Ethiopia and Djibouti heavy equipment market.
In addition, major companies such as Volvo AB, Caterpillar Inc. and others, have developed earthmoving machinery that provides higher efficiency and fuel savings owing to use of better-quality engines and control systems. The innovative commercialized medium wheel loaders that include the 966M, 950M, and 982M, developed by Caterpillar Inc., reduce operating costs and include safety features. On the other hand, environmental concern is a key threat to the Ethiopia and Djibouti heavy equipment industry, as these run on diesel and discharge harmful carbon emissions.
Major players are adopting various strategies such as product launch and others, thereby stimulating the growth of the market. For instance, recently in April 2019, Volvo Construction Equipment launched ActiveCare, an intelligent telematics service for monitoring health of machine and provision of weekly reports. It also launched a latest update of Haul Assist that characterizes a real-time tracking to map the progress of hauler fleet traffic flow. Moreover, technological improvements are anticipated to offer lucrative opportunities for the players in the Ethiopia and Djibouti heavy equipment market.
The Ethiopia and Djibouti heavy equipment market is segmented based on machinery type, business type, function, end-user industry, and country. Based on type, the market is divided into earth moving machinery, material handling machinery, roadway machinery, and others. The earth moving machinery segment is anticipated to dominate the Ethiopia and Djibouti heavy equipment market throughout the study period in terms of value. Based on business type, the market is bifurcated into original equipment and aftermarket. The original equipment segment is estimated to dominate the Ethiopia and Djibouti heavy equipment market throughout the analysis period.
Based on function, the market is divided into hauling, drilling, excavating, and paving, and grading. In terms of value, the excavating type is estimated to account for a major share of the Ethiopia and Djibouti heavy equipment market throughout the study period. On the basis of end-user industry, the market is categorized into construction, mining, agriculture, energy, transportation, and others. The construction segment is expected to dominate the market during the forecast period. By country, the market is analyzed across Ethiopia and Djibouti.
The key players profiled in this report include AB Volvo, Caterpillar Inc., Deere & Company, Doosan Infracore, Hitachi, Ltd., J C Bamford Excavators Ltd, Kobelco Construction Machinery Co., Ltd., Komatsu Ltd., SANY Group, and Xuzhou Construction Machinery Group Co., Ltd. (XCMG).
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the Ethiopia and Djibouti heavy equipment market and current as well as future trends to elucidate the imminent investment pockets.
Information about key drivers and restraints and their impact analysis on the market size is provided.
Porter?s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2014 to 2026 is provided to determine the market potential.
The study also provides an in-depth value chain analysis of the Ethiopia and Djibouti heavy equipment market.
KEYMARKET SEGMENT
By Machinery Type
Earth Moving Machinery
Material Handling Machinery
Roadway Machinery
Others
By Function
Hauling
Drilling
Excavating
Paving and Grading
Others
By Business Type
Original equipment
Aftermarket
By End-User Industry
Construction
Mining
Agriculture
Energy
Transportation
Others
By Country
Ethiopia
Djibouti