Iran Construction Equipment Market was valued at USD 256.7 Million in 2021 and is projected to reach USD 411 Million by 2028.

Chicago, June 17, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the Iranian construction equipment market is expected to grow at a CAGR of 7%. Government investments in road construction, infrastructure development, housing projects, smart cities and the development of the country’s eastern and southern corridors are expected to have a greater impact on the demand for excavators and backhoe loaders than other earthmoving equipment in Iran.

Scope of the Iran Construction Equipment Market Report

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Development of transport and urban infrastructure to stimulate the construction sector

In 2022, the Iranian government announced 48 industrial and infrastructure projects worth $19 billion, which will help revive the economy. 15 transport infrastructure projects worth $47.6 million and 8 other projects worth $12.2 million were completed in the aviation sector, including the development and improved flight levels and airports in Bandar Abbas, Zahedan, Saravan and Khorramabad. Hence, the increase in infrastructure development activities in Iran is expected to drive the demand for construction equipment in the market.

Highlights

• Iran construction equipment market is expected to grow significantly at a CAGR of 5.76% during the forecast period (2022-2028) with high demand for excavators in the earthmoving segment owing to factors such as the increase in public investment in the development of highways, railways, metro, hydraulic projects, airports and renewable energies in 2021.

• According to the World Bank Group, Iran’s economy is expected to contract by 5.3% by 2023 due to the COVID-19 pandemic. Consequently, at the end of 2020, the size of the Iranian economy has shrunk by 83% compared to 2017.

• In 2022, Iran’s Transport and Urban Development Minister Rostam Qasemi inaugurated 500 projects in ports and shipping, road and road transport development, railways, airports and coupled construction areas to meteorology across the country.

• The head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that 29 projects in mines and mining industries are ready to be inaugurated across the country in 2021.

• In 2021, Iran Minerals Production and Supply Company (IMPASCO) announced that the organization will soon inaugurate 23 development projects in mines and mining industries. These projects, worth more than $355 million, would create direct jobs for 1,053 people and indirect jobs for 2,655 people.

• The head of the National Iranian Oil Company (NIOC), Khojastehmehr, had estimated the gas production capacity at around 1 billion m3/day which could reach 1.5 billion m3/day in the next 10 years. According to an announcement by NIOC, the next round of Iranian nuclear talks could tip global oil supplies by 1.5 million bpd in 2022.

• The Iranian government aims to complete more than 2,423 miles of new railways and roads by 2022 to boost the economy and improve investment in energy, oil and gas, petrochemicals, infrastructure and industry.

• In 2020, Iran produced less than 2 million barrels per day (bpd) of crude oil, a nearly 40-year low in Iran’s production levels according to our analysis, which we updated. day in July.

• Caterpillar, Komatsu, XCMG, Volvo, SANY, Hitachi Construction Equipment, Hyundai Construction Equipment, Liebherr, JCB, Kubota, Zoomlion, and Kobelco are prominent suppliers that account for a significant share of Iran’s construction equipment market.

• Market leaders Caterpillar, Komatsu, Kubota, Hitachi Construction Equipment and Volvo Construction Equipment accounted for approximately 32% of the overall construction equipment market share in 2021.

The story continues

Iran construction equipment market Segmentation

Earthmoving equipment:

road construction equipment

• Steamrollers

• Asphalt pavers

Handling equipment

• Crane

• Forklifts and telehandlers

• Aerial platforms (articulated platforms, telescopic platforms, scissor lifts)

end users

• Construction

• Manufacturing

• Mining

• Others

Main suppliers

Other Important Suppliers

Distributor profile

• Arya heavy machinery

• VAJEH MACHINE ZAGROS CO

• Part Geran Mehr

• Parsian Pishro Sanat

• ABKOUH

• Faraz Machine Co

Explore our industrial machinery profile to learn more about the industry.

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