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The UAE Construction Equipment Rental Market was valued USD 17.06 Million in 2019 and is forecast to grow at CAGR of over 6% during the next five years.
The oil and gas companies are taking various initiatives towards sustainable growth and to support the country s economy. For instance, in February 2020, Dubai and Abu Dhabi announced to jointly develop a gas reservoir Jebel Ali Project, aimed to bring ADNOC and Dubai Supply Authority together. These infrastructural developments are making the UAE oil and gas industry more attractive for the foreign investors.
For instance, in 2019, Eni, an Italian oil & gas company and OMV, an Australian oil & gas company, are investing USD 5.8 billion in ADNOC s refinery unit for 35% share. Moreover, the government of UAE is focusing on developing sour gas resources to fulfill the increasing domestic demand. These developments are driving the infrastructural development