The GCC market for self-propelled full-rotation excavators and bulldozers is set for steady growth over the next decade. By 2035, demand is forecast to reach 35,000 units, with market value climbing to $1.2 billion. Although the pace will be moderate, these projections signal ongoing opportunities for construction equipment suppliers and investors in the region.
Market Outlook
Driven by sustained infrastructure activity, the market is projected to expand at a CAGR of +0.9% in volume and +1.2% in value from 2024 to 2035. This growth will push consumption to 35,000 units and $1.2 billion (in nominal wholesale prices) by the end of the forecast period.
Current Consumption Trends
In 2024, GCC consumption declined for the first time since 2019—down 5.7% to 32,000 units—following a peak of 34,000 units in 2023. In value terms, the market contracted sharply to $1 billion in 2024, an 18.7% drop from the previous year, after hitting a record $1.3 billion in 2023.
Consumption by Country
Saudi Arabia, the UAE, and Oman accounted for 97% of total consumption in 2024:
Saudi Arabia: 18K units, $573M market value (CAGR +46.4% in value, +47.1% in volume)
UAE: 12K units, $336M market value (CAGR +7.5% per capita consumption)
Oman: 1.3K units, $63M market value
The UAE recorded the highest per capita consumption in 2024 at 1,156 units per million people, followed by Saudi Arabia (477), Oman (239), and Qatar (165).
Production
GCC production fell by 26.7% in 2024 to 107 units, valued at $4.4 million, after peaking in 2020. Saudi Arabia led output with 67 units, followed by Kuwait with 39.
Imports
After six years of growth, imports fell by 1.5% in 2024 to 34,000 units. In value terms, imports dropped to $1 billion from $1.4 billion in 2023. Saudi Arabia and the UAE dominated the import market, accounting for 92% of volumes and 96% of value.
Saudi Arabia: 18K units, $551M market value (CAGR +49.8% in value, +51.1% in volume)
UAE: 13K units, $361M market value
Oman: 1.8K units, $93M market value
Source: IndexBox Market Intelligence Platform
