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Commercial and residential construction in Uganda are exploding, with an estimated annual housing requirement.
The road infrastructure sector received the largest portion of the government’s budget. The equipment required to develop large-scale infrastructure projects cannot be manufactured in Uganda.
In addition, Uganda’s expanding industries and service providers urgently require larger, more cutting-edge locations, such as industrial zones, for their operations.
The Uganda Construction Equipment Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.
With an annual increase in car ownership, the road network is severely overloaded, particularly in and around cities.
On the back of Uganda’s new infrastructure projects, it is anticipated that the market for construction equipment will expand in the coming years.
Collaborations between various industry players and regulatory bodies have strengthened Uganda’s construction sector.
Due to COVID-19 restrictions and lockdowns, average input costs decreased for the entire construction industry. Uganda still has a lot of infrastructure needs, so construction equipment will be in high demand in the coming years.
Throughout the COVID-19 pandemic, there was steady growth in the market for construction instruments.
Investment in treatment and medical facilities, as opposed to public construction, was the primary focus of government authorities in all countries. However, as economic and industrial activities resumed, trade picked up in the latter part of the year.
In addition, Uganda’s streets are poorly maintained, making transportation both costly and risky. As a result, new projects in Uganda that focus on road construction have triggered demand for construction equipment. The Entebbe Universal Airplane terminal is expected to be finished by the government.
The Uganda National Arranging Specialist asserts that there is a housing shortage in Uganda as well. In addition, in order for Uganda’s emerging businesses and service providers to continue operating, they urgently require more extensive and cutting-edge locations, such as mechanical zones, which would propel the market.
