Construction equipment

Iran Construction Equipment Market Assessment Report 2022-2028 with Key Vendors

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Dublin, Aug. 09, 2022 (GLOBE NEWSWIRE) — The report “Iran Construction Equipment Market – Strategic Assessment and Forecast 2022-2028” has been added to from ResearchAndMarkets.com offer.

A sharp increase in investment in mining, transportation and urban development projects to drive demand for construction equipment.

Iran accounted for 25% of oil reserves in the Middle East and 12% of the world in 2020. Iran’s crude oil production hit a 30-year low in 2020 due to the global COVID pandemic -19. Iran’s economy contracted by 7% and the construction industry was affected due to a shortage of labor and raw materials.

In 2022, the Iranian government announced 48 industrial and infrastructure projects worth around $19 billion to revive the economy after the pandemic. The Iranian government aims to complete more than 3,900 km of new railways and roads by March 2022 to stimulate economic activities and increase investment in the sectors of energy, oil and gas, petrochemicals, infrastructure and industry. Iran saw an investment of 78.9 million in 2021 to improve roads, rail network and construction of social service complexes.

In 2022, 390 infrastructure development projects will be inaugurated in the country’s industrial parks and zones. The Iranian government has also announced 48 industrial and infrastructure projects worth $19 billion. Thirty-one power plants with a capacity of 15,000 MW have started up across the country; to date, 3,150 MW have been commissioned. In 2021, the Iranian government launched the Hormoz Gan Power Plant Project to construct a 1,400 MW power plant in Hormoz Gan province.

The Iranian government has also announced 48 industrial and infrastructure projects worth about $19 billion in 2021 to overcome the negative impact of the pandemic. The inaugurated projects include 30 port development projects in Imam Khomeini, Bushehr, Genaveh, Chabahar, Shahid Rajaei and Anzali ports with around $269.4 million.

The government has planned to invest 78.9 million dollars in the modernization of transport infrastructure. In addition, $12.2 million has been allocated to improve the aviation sector, including the development of flight levels and airports in Bandar Abbas, Zahedan, Saravan and Khorramabad.

In 2021, the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that 29 projects in mines and mining industries were ready to be inaugurated across the country. Iran Minerals Production and Supply Company (IMPASCO) has announced that its organization will inaugurate 23 development projects in mines and mining industries worth $355 million in 2021.

Decline in oil and gas production and slow recovery in manufacturing industry are major impediments to the construction equipment market

Iran’s economy is relatively diversified compared to many other countries in the Middle East, but it still relies heavily on oil and other liquid income. In 2019, Iran earned $30 billion in net oil export revenue, compared to $66 billion in 2018. Export revenue fell in 2019 after the imposition of US sanctions on oil exports of Iran, leading to a decrease in the production and export of crude oil in Iran.

The economic fallout from the COVID-19 pandemic, including lockdowns and mobility restrictions, caused Iran’s crude oil production to fall below 2.0 million barrels per day in 2020. The ban Iran’s proposed licensing and divestment strategy ends support for fossil fuel production. This move by Iran to control fossil fuel exploration could have a direct impact on the demand for construction equipment such as excavators, cranes, tower cranes, mobile cranes, etc., in the oil and gas industry.

Iran’s manufacturing industry has underperformed since 2019. The main reason for low manufacturing productivity is the country’s reliance on raw materials from neighboring countries. The outbreak of the COVID-19 pandemic disrupted the supply chain and Iran’s manufacturing industry experienced a decline in 2020.

The market is witnessing an increase in low-maintenance, flexible and fuel-efficient equipment.

Rising investment in road construction triggers the demand for flexible equipment that requires little maintenance. For example, CASE construction Equipment delivered a fleet of equipment, including road rollers, graders and backhoe loaders, in 2022. Major OEMs in the country are expected to follow recent trends in construction equipment demand and focus on fuel delivery. efficient and low-maintenance equipment such as backhoe loaders, skid steer loaders and mini excavators in the Iranian market. With the IoT, excavator performance is expected to improve and provide access to more data.

KEY OVERVIEWS OF THE IRAN CONSTRUCTION EQUIPMENT MARKET

  • Material handling equipment has the largest share in Iran compared to earthmoving and road construction equipment.

  • Government investments in road construction, infrastructure development, housing projects, smart cities and the development of eastern and southern corridors will have a positive impact on the demand for material handling equipment in the Iranian market.

  • In 2021, the government will allocate $109.1 million in funds for 53 railway, aviation and commercial building modernization projects. Investment in infrastructure is more focused on the northern and central regions of the country.

  • The demand for equipment funding increased after the pandemic to avoid project delays due to funding issues. Overwhelmed by the financing challenge, OEMs such as Komatsu, Caterpillar, SANY and Hitachi construction machinery have provided financial assistance to customers.

  • In 2021, there was an increase in equipment financing activities by OEMs in Iran. Equipment manufacturers are focused on maximizing the benefits of the rising demand for construction equipment in the country caused by the increase in infrastructure projects.

  • Other major players, such as XCMG, Zoomlion, Kobelco and Hyundai Construction Equipment, expect to follow a similar trend.

VENDOR LANDSCAPE

Main suppliers

Other Important Suppliers

Distributor profile

  • Arya heavy machinery

  • VAJEH MACHINE ZAGROS CO

  • Part Geran Mehr

  • Parsian Pishro Sanat

  • ABKOUH

  • Faraz Machine Co

Main topics covered:

Chapter 1 Overview

Section 2 Market Overview

Section 3 Iran Construction Equipment (Type and Application)

  • Iran Construction Equipment Market by Type (Volume and Value)

  • Excavator

  • Backhoe loader

  • motor grader

  • Other earthmoving equipment (other loaders, bulldozer, trencher, etc.)

  • asphalt paver

  • road roller

  • Crane

  • Forklift and telehandler

  • Aerial platform (articulated platforms, telescopic platforms, scissor lifts, etc.)

  • Iran Construction Equipment Market by Application (Volume & Value)

  • Construction

  • Mining

  • Manufacturing

  • Others (power generation and utilities, municipal corporation, etc.)

Section 4 Market Dynamics

  • Market Drivers, Restraints, Trends, Key Economic Regions in Iran, Iran Advantage, Import/Export Trend Analysis, Supply Chain, Impact of Covid-19

Section 5 Technological Development

Section 6 Competitive Landscape

  • Overview of the competitive landscape

  • Main suppliers Caterpillar – Komatsu – Xcmg – Sany – Hyundai Construction Machinery – Volvo Construction Equipment – Hitachi Construction Machinery – Jcb – Liebherr – Kobelco – Kubota – Zoomlion

  • Other Important Suppliers

  • Distributor profile

Section 7 Quantitative Summary

Article 8 Summary of the report

Section 9 Scope and definition of the report

For more information on this report visit https://www.researchandmarkets.com/r/4amnch

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