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The extensive road network expansion plans of the Ethiopian government are driving the construction equipment market. Chinese and European construction equipment manufacturers now have an opportunity to invest in the nation thanks to its rapid development.
There is no construction equipment manufacturing going on in the country, so the market is mostly driven by imports.
Ethiopia’s Construction Equipment Market is expanding as a result of the country’s growing infrastructure development and labor shortage.
Demand is rising as a result of the rising number of construction projects and the construction of buildings, malls, shopping centers, and commercial offices.The Ethiopia Construction Share is also expanding due to rising development in commercial and industrial sectors.
The Ethiopia Construction Equipment Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
The construction application segment is the key revenue-generating segment in the overall Ethiopia construction equipment market share owing to the widespread expansion and development of the road networks in the country.
In addition, Ethiopia’s demand for construction equipment would rise as a result of massive infrastructure projects like The Great Renaissance Dam and government initiatives like Ethiopia Vision and Growth and Transformation Plan – II.
In terms of market revenues, the earthmoving equipment type held the largest share;However, other types of equipment, such as cranes, material handling equipment, and road construction equipment, are thought to be the most important growing types of construction equipment.