IRAN CONSTRUCTION EQUIPMENT MARKET WAS VALUED AT USD 256.7 MILLION IN 2021 AND IS EXPECTED TO REACH USD 411.1 MILLION BY 2028, GROWING AT A CAGR OF 7.06%.

Iran Construction Equipment Market Research Report includes segments by

Earthmoving Equipment:

  • Excavator
  • Backhoe Loaders
  • Motor Graders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)

Road Construction Equipment

  • Road Rollers
  • Asphalt Pavers

Material Handling Equipment

  • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)

End Users

  • Construction
  • Manufacturing
  • Mining
  • Others

Market Size by Revenue ($ Million), Volume (Unit Sales), Major Vendors, Other Prominent Vendors, & Distributors included in the Report.

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111 Pages

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12 Tables

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63 Charts

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1 Regions

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1 Countries

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22 Companies

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2 Market Segment

IRAN CONSTRUCTION EQUIPMENT MARKET REPORT SCOPE

Report Attribute Details
Market Size (2028) USD 256.7 Million
Market Size (2021) USD 411.1 Million
CAGR (2022-2028) 7.06%
MARKET SIZE- VOLUME(2028) 9,029 Units Sales
Historic Year 2019-2020
BASE YEAR 2021
FORECAST YEAR 2022-2028
TYPE Earth Moving Equipment, Material Handling Equipment, and Road Construction Equipment
END-USERS Construction, Manufacturing, Mining, and Others

MARKET INSIGHTS

Iran's construction equipment market was valued at USD 256.7 million in 2021 and is expected to reach USD 411.1 million by 2028, growing at a CAGR of 7.06%.

According to Arizton Advisory & Intelligence, Iran's construction equipment sales will reach around 9,029 units by 2028. Government investments in modernizing infrastructure, transport & mining industries are expected to drive the demand for construction equipment in Iran.

KEY INSIGHTS OF THE IRAN CONSTRUCTION EQUIPMENT MARKET

  • The material handling equipment has the largest share in Iran compared to earthmoving & road construction equipment.
  • Government investment in road construction, infrastructure development, housing projects, smart cities, and the development of Eastern and Southern Corridors will positively impact the demand for material handling equipment in the Iran market.
  • In 2021, the government will allocate $ 109.1 million of funds for 53 projects across railways, aviation, and commercial building up-gradation. The infrastructure investment is more focused on the country's northern & central regions.
  • The demand for equipment financing has increased post-pandemic to avoid project delays due to funding challenges. Overwhelmed by the funding challenge, OEMs such as Komatsu, Caterpillar, SANY, and Hitachi construction machinery provided financial assistance to customers.
  • In 2021, there was a surge in equipment financing activities by OEMs in Iran. OEMs are focusing on maximizing benefits from the spike in demand for construction equipment in the country caused due to rise in infrastructure projects.
  • Other major players, such as XCMG, Zoomlion, Kobelco, and Hyundai Construction Equipment, expect to follow a similar trend.

Upsurge In Urban Infrastructure Investment

Iran accounted for 25% of oil reserves in the Middle East and 12% of the world in 2020. Iran's crude oil production reached a 30-year low in 2020 due to the global COVID-19 pandemic. Iran's economy contracted by 7%, and the construction industry was adversely impacted due to a shortage of labor & raw material.

In 2022, Iran's government announced 48 industrial and infrastructure projects worth about $19 billion to uplift the economy post-pandemic. The Iranian government aims to complete over 3,900kms of new railways and roads by March 2022 to boost the economic activities and increase the investments in the energy, oil and gas, petrochemicals, infrastructure, and industrial sectors. Iran witnessed an investment of 78.9 million in 2021 to improve roads, railways network & construction of welfare service complexes.

In 2022, 390 infrastructure development projects will be inaugurated in the country's industrial parks and zones. Iran's 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 across the country; so far, 3,150 MW has been put into operation. In 2021, the Iran government commenced the Hormoz Gan power plant project to construct a 1,400-MW power plant in Hormoz Gan province.

Iran has a favorable business environment, an excellent administrative setup, attractive foreign policies, and an available, abundant skilled workforce and provides attractive incentives to investors. The Government of Iran has eased foreign investment norms in the construction, transport, and renewable energy sectors.

A surge in Investments in Mining, Transport & Urban Development Projects to boost the Demand For Construction Equipment.

Iran's government 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 about $269.4 million. The government has planned to invest $78.9 million in upgrading the transport infrastructure. Also, $12.2 million was allocated for enhancing the aviation sector, including the development of flight levels and airports of Bandar Abbas, Zahedan, Saravan, and Khorramabad.

In 2021, the Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) announced that 29 projects in mines and mining industries are ready for inauguration 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 of $355 million worth in 2021.

Decline In Oil & Gas Production & Slow Recovery of Manufacturing Industry is the Major Restraints for the Construction Equipment Market

Iran's economy is relatively diversified compared to many other Middle Eastern countries, but it still relies heavily on petroleum and other liquid revenues. In 2019, Iran earned $30 billion in net oil export revenues, down from $66 billion in 2018. Export revenues fell in 2019 after U.S. sanctions were imposed on Iran's oil exports, resulting in a decrease in crude oil production and exports in Iran. The economic fallout from the COVID-19 pandemic, including lockdowns and mobility restrictions, resulted in Iran's crude oil production dipping below 2.0 million b/d in 2020. Iran's proposed licensing ban and divestment strategy are ending the support for fossil fuel production. This decision of Iran to control fossil fuel exploration could directly impact 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 primary reason for low manufacturing productivity is the country's dependency on raw materials from neighboring countries. The outbreak of the COVID-19 pandemic has disrupted the supply chain, and the Iran manufacturing industry witnessed a decline in 2020.

In 2021, the industry's recovery was slower than in other sectors such as mining, agriculture, and construction in the country. FDI investments in manufacturing sectors are less than in neighboring countries such as Pakistan, Afghanistan, Turkey, Iraq, Azerbaijan, Armenia, and Turkmenistan. Due to the negative impact of the COVID-19 pandemic, the shortage of labor has increased in the construction sector. The low growth in the manufacturing industry is likely to impact the demand for construction equipment. The demand for cranes and forklifts is expected to get hampered due to the low productivity.

 The Market is Witnessing a Surge in Low Maintenance, flexible & Fuel-Efficient Equipment.

The increasing investment in road construction triggers the demand for low-maintenance, flexible equipment. For instance, CASE construction Equipment delivered a fleet of equipment, including road rollers, motor graders, and backhoe loaders, in 2022. The major OEMs in the country are expected to follow the recent trends in demand for construction equipment and focus on delivering fuel-efficient and low maintenance equipment such as backhoe loaders, skid loaders, and mini excavators in the Iran market. With the IoT, the performance of excavators is expected to improve and offer access to more data.

VENDOR LANDSCAPE

  • Caterpillar, Volvo Construction Equipment, Komatsu, Liebherr, & Kubota accounts for 32% of the Iran Construction equipment market share.
  • Chinese OEMs such as Zoomlion & SANY are gaining market share due to their diverse low-cost material handling equipment portfolio.
  • Prominent vendors are Caterpillar, Komatsu, Volvo Construction Equipment, Hitachi Construction Equipment, XCMG, SANY, Liebherr, Kubota, JCB, and Hyundai Construction Equipment, Zoomlion & Kobelco.
  • Other prominent vendors are Liu Gong, Yanmar, Case Construction Equipment & Terex Corporation.

REPORT COVERAGE:

Earthmoving Equipment:

  • Excavator
  • Backhoe Loaders
  • Motor Graders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)

Road Construction Equipment

  • Road Rollers
  • Asphalt Pavers

Material Handling Equipment

  • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)

End Users

  • Construction
  • Manufacturing
  • Mining
  • Others


Iran Construction Equipment Market Report Analysis

Frequently Asked Questions

WHAT IS THE GROWTH RATE OF THE CONSTRUCTION EQUIPMENT MARKET IN IRAN?

The Iran construction equipment market is expected to grow at a CAGR of 7.06% during 2022-2028.

WHO ARE THE KEY PLAYERS IN THE IRAN CONSTRUCTION MACHINERY MARKET?

Caterpillar, Volvo Construction Equipment, Komatsu, Liebherr, JCB, XCMG, SANY & Kubota are some of the key players in the industry.

HOW MANY UNITS OF CONSTRUCTION EQUIPMENT WILL BE SOLD IN 2028?

According to Arizton Advisory & Intelligence, around 9,029 units of construction equipment will be sold in 2028.

WHAT ARE THE LATEST TRENDS IMPACTING THE GROWTH OF THE IRAN CONSTRUCTION EQUIPMENT MARKET?

Upsurge the demand for flexible, low maintenance, and fuel-efficient equipment and an increase in equipment financing activity by OEMs in Iran are some of the factors impacting the growth.

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Iran construction equipment market was valued at USD 256.7 million units in 2021 and is expected to reach USD 411.1 million by 2028, growing at a CAGR of 7.06%.

The factors driving the market growth are: 

  • Transport, and urban infrastructure development to boost the construction sector in Iran.
  • Increasing investments towards the mining sector to renovate the old mines. 
  • Increasing equipment financing activity by OEMs in Iran.

Base Year: 2021

 Forecast Year: 2022-2028

Scope: The report considers the present scenario of the Iran construction equipment market and market dynamics for the forecast period 2022−2028. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes volume and value sales with Iran construction equipment market segment analysis.

Key Vendors

  • Caterpillar
  • Komatsu
  • Volvo Construction Equipment
  • JCB
  • XCMG
  • SANY
  • Hyundai Construction Equipment
  • Hitachi
  • Liebherr
  • Kobelco
  • Zoomlion
  • Kubota

Other Prominent Vendors

  • Terex Corporation
  • LIUGONG
  • Yanmar
  • CASE Construction Equipment

Distributors Profile

  • Arya Heavy Machinery
  • VAJEH MACHINE ZAGROS CO
  • Geran Mehr Part
  • Parsian Pishro Sanat
  • ABKOUH
  • Faraz Machine Co

Earthmoving Equipment:

  • Excavator
  • Backhoe Loaders
  • Motor Graders
  • Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)

Road Construction Equipment

  • Road Rollers
  • Asphalt Pavers

Material Handling Equipment

  • Crane
  • Forklift & Telescopic Handlers
  • Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)

End Users

  • Construction
  • Manufacturing
  • Mining
  • Others

Section 1 Introduction
• Market Snapshot
• Executive Summary

Section 2 The Market Overview

Economic Scenario, Infrastructure construction in the Iran region

Section 3 Iran Construction Equipment (Type & Application)

   3.1 Iran Construction Equipment Market by Type (Volume & Value)
 3.1.1. Earth Moving Equipment

  1. Excavator
  2. Backhoe Loader
  3. Motor Grader
  4. Other Earth Moving Equipment (Other Loaders, Bulldozer, Trencher, etc.)

 3.1.2. Road Construction Equipment

  1. Asphalt Paver
  2. Road Roller

3.1.3.  Material Handling Equipment

  1. Crane
  2. Forklift and Telescopic Handler
  3. Aerial Platform (Articulated Boom lifts, Telescopic Boom lifts, Scissor Lifts, etc)

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

  1. Construction
  2. Mining
  3. Manufacturing
  4. Others (Power Generation and Utilities, Municipal Corporation etc)

Section 4 Market Dynamics

Market Drivers, Restraints, Trends, Key Economic Regions in Iran, Advantage Iran, Import/Export Trend Analysis, Supply chain, COVID-19 Impact

Section 5 Technology Development

 Advent of Technology

Section 6 Competitive Landscape

  1. Competitive Landscape Overview
  2. Major Vendors Caterpillar | Komatsu | XCMG | SANY | Hyundai Construction Machinery | Volvo Construction Equipment | Hitachi Construction Machinery | JCB | Liebherr | Kobelco | Kubota | Zoomlion
  3. Other Prominent Vendors
  4. Distributors Profile

Section 7 Quantitative Summary

Section 8 Report Summary
1. Key Insights

  1. Abbreviations
  2. List of Graphs
  3. List of Tables

Section 9 Report Scope & Definition
1. Research Methodology
2.   Market Definition, Inclusion & Exclusion

LIST OF EXHIBITS

Graph-1: Iran Construction Equipment Market by Volume (Unit sales) 2019–2028

Graph-2:  Iran Construction Equipment Market by Type 2021 Volume Share (%)

Graph-3: Iran Construction Equipment Market by Volume 2019–2028 (Unit Sales)

Graph-4: Iran Construction Equipment Market by Value 2019–2028 ($ MN)

Graph-5: Iran Construction Equipment Market by Application 2021 (% share)

Graph-6: Iran Construction Equipment Market by Type 2021 (% share)

Graph-7: GDP of Iran Value ($ BN) 2015–2020

Graph-8: Iran Investments in various Sectors 2021 ($BN)

Graph-9: The number of solar power plants in the provinces of Iran (2020-2021)

Graph-10: Iran Construction Equipment Market by Type 2019–2028 (Unit Sales)

Graph-11: Iran Construction Equipment Market by Type 2021 Volume Share (%)

Graph-12: Iran Construction Equipment Market by End - Users 2019–2028 (Unit Sales)

Graph-13: Iran Earthmoving Equipment 2019–2028 (Unit Sales)

Graph-14: Iran Earthmoving Equipment 2019–2028 ($MN)

Graph-15: Iran Excavators Market 2019–2028 (Unit Sales)

Graph-16: Iran Excavators Market 2019–2028 ($MN)

Graph-17: Iran Backhoe Loaders Market 2019–2028 (Unit Sales)

Graph-18: Iran Backhoe Loaders Market 2019–2028 ($ MN)

Graph-19: Iran Motor Graders Market 2019–2028 (Unit Sales)

Graph-20: Iran Motor Graders Market 2019–2028 ($ MN)

Graph-21: Iran Other Earthmoving Equipment 2019–2028 (Unit Sales)

Graph-22: Iran Other Earthmoving Equipment 2019–2028 ($ MN)

Graph-23: Iran Road Construction Equipment Market 2019–2028 (Unit Sales)

Graph-24: Iran Road Construction Equipment Market 2019–2028($ MN)

Graph-25: Iran Road Rollers Market 2019–2028 (Unit Sales)

Graph-26: Iran Road Rollers Market 2019–2028 ($ MN)

Graph-27: Iran Asphalt Pavers Market 2019–2028 (Unit Sales)

Graph-28: Iran Asphalt Pavers Market 2019–2028($ MN)

Graph-29: Iran Material Handling Equipment Market 2019–2028 (Unit Sales)

Graph-30: Iran Material Handling Equipment Market 2019–2028 ($ MN)

Graph-31: Iran Forklifts & Telescopic Handlers Market 2019–2028 (Unit Sales)

Graph-32: Iran Forklifts & Telescopic Handlers Market 2019–2028 ($ MN)

Graph-33: Iran Cranes Market 2019–2028 (Unit Sales)

Graph-34: Iran Cranes Market 2019–2028 ($ MN)

Graph-35: Iran Aerial Platforms Market 2019–2028 (Unit Sales)

Graph-36: Iran Aerial Platforms Market 2019–2028 ($ MN)

Graph-37: Iran Construction Equipment Market 2019–2028 (Unit Sales)

Graph-38: Iran Construction Equipment Market 2019–2028 ($ MN)

Graph-39: Iran Manufacturing Construction Equipment Market 2019–2028 (Unit Sales)

Graph-40: Iran Manufacturing Construction Equipment Market 2019–2028 ($ MN)

Graph-41: Iran Mining Construction Equipment Market 2019–2028 (Unit Sales)

Graph-42: Iran Mining Construction Equipment Market 2019–2028 ($MN)

Graph-43: Iran Others Construction Equipment Market 2019–2028 (Unit Sales)

Graph-44: Iran Others Construction Equipment Market 2019–2028 ($ MN)

Graph-45: Import Value of Construction Equipment 2019 ($ MN)

Graph-46: Export Value of Construction Equipment 2019 ($ MN)

Graph-47: Caterpillar, Revenue 2018–2020 ($ BN)

Graph-48: Caterpillar: Sales by Region (% share)

Graph-49: Caterpillar: Total Revenue by Segment 2020 ($ MN)

Graph-50: Komatsu, Net sales 2018–2020 ($ BN)

Graph-51: Komatsu Construction, Mining, and Utility Equipment Business Sales by Region 2020 (% Share)

Graph-52: Komatsu: Breakdown of Net Sales by Segment 2020 ($ BN)

Graph-53: Volvo: Net sales 2016–2020 ($ BN)

Graph-54: Volvo: Sales by Region ($ MN)

Graph-55: Hyundai Construction Equipment: Revenue (2018–2020) ($ MN)

Graph-56: Hitachi Construction Equipment 2018-2020 ($ MN)

Graph-57: Liebherr: Revenue 2016–2020 ($ BN)

Graph-58: Liebherr: Revenue by Segment 2020 (%Share)

Graph-59: Kobelco Net sales 2016–2020 ($ BN)

Graph-60: Zoomlion Net sales 2017-2020 ($ BN)

Graph-61: Kubota Revenue 2016-2020 ($ BN)

Graph-62: Kubota Revenue by Segments 2020 (% Share)

Graph-63: Kubota Revenue by Regions 2020 (% Share)

LIST OF TABLES:

Table-1 Iran Construction Equipment Market by Volume 2019–2028

Table-2 Iran Construction Equipment by Type 2019–2018

 Table-3 Iran Earthmoving Equipment Market Size & Forecast by Type (Volume, Units)

Table-4   Iran Material Handling Equipment Market Size & Forecast by Type (Volume, Units)

Table-5   Iran Road Construction Equipment Market Size & Forecast by Type (Volume, Units)

Table-6 Iran Construction Equipment Market Size & Forecast by End-user (Units)

Table-7 Iran Construction Equipment Market by Value 2019–2028

Table-8 Iran Construction Equipment by Type 2019–2018

Table-9 Iran Earthmoving Equipment Market Size & Forecast by Type (Value, $ MN)

Table-10 Iran Road Construction Equipment Market Size & Forecast by Type (Value, $ MN)

Table-11 Iran Material Handling Equipment Market Size & Forecast by Type (Value, $ MN)

Table-12 Iran Construction Equipment Market Size & Forecast by End-user

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