Heavy Equipment Market in Ethiopia and Djibouti to Reach $496.1 Million, by 2026 at 5.6% CAGR

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Construction segment to dominate throughout the forecast period

Based on end user, the construction segment contributed the highest market share in terms of revenue with more than two-fifths of total market in 2018. On the other hand, the energy segment is estimated to register the fastest growth rate with a CAGR of 7.7% during the forecast period, owing to supportive government initiatives in the energy sector.

Ethiopia to offer lucrative opportunities

Ethiopia held the major market share in 2018, accounting for more than 95% of the total market, and is estimated to maintain its lion's share throughout the forecast period. Moreover, it is estimated to register the fastest CAGR of 5.7% from 2019 to 2026. It offers lucrative opportunities, owing to rise in GDP and growth of the construction sector. The report offers a detailed analysis of the Djibouti market.

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Torchbearers of the industry

Leading industry players analyzed in the research include AB Volvo, Deere & Company, Caterpillar Inc., Hitachi, Ltd., Doosan Infracore, Kobelco Construction Machinery Co., Ltd., J C Bamford Excavators Ltd., SANY Group, Komatsu Ltd., and Xuzhou Construction Machinery Group Co., Ltd. (XCMG).

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