June 17, 2022 16:11 ET | Source: Arizton Advisory and Intelligence Arizton Advisory and Intelligence
Chicago, June 17, 2022 (GLOBE NEWSWIRE) -- According to Arizton latest research report, the Iran construction equipment market is expected to grow at a CAGR of 7%. Government investments in road construction, infrastructure development, housing projects, smart cities, and the development of Eastern and Southern Corridors of the country expect to have a higher impact on the demand for excavators and backhoe loaders than other earthmoving equipment in Iran.
Iran Construction Equipment Market Report Scope
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Transport And Urban Infrastructure Development Boosting Construction Sector
In 2022, the Iranian government announced 48 industrial and infrastructure projects worth $19 billion, which will help to restart the economy. 15 transportation infrastructure projects worth $47.6 million and 8 other projects worth $12.2 million were completed in the aviation sector, which include the development and improvement of flight levels and airports of Bandar Abbas, Zahedan, Saravan, and Khorramabad. Hence, the rise in infrastructure development activities in Iran expects to drive the demand for construction equipment in the market.
Iran Construction Equipment Market Segmentation
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