Latest news with #sustainability
Globe and Mail
25 minutes ago
- Business
- Globe and Mail
UAE Construction Equipment Market Sale to Reach 30.19K Units by 2030, Backed by Green Tech, Mega Projects & 5.78% CAGR Growth from 2024
"UAE Construction Equipment Market Research Report by Arizton" The Industry Analysis Report Provides Market Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2025-2030 According to Arizton's latest research, the UAE construction equipment market is projected to grow at a CAGR of 5.78% from 2024 to 2030, reaching 30.19 thousand units by 2030. This growth is fueled by massive government-led infrastructure investments, a booming real estate sector, and a sharp pivot toward electrification and sustainable construction technologies. In Q1 2025 alone, Dubai's residential real estate market recorded over 42,000 transactions, a 23.1% YoY rise, highlighting continued demand for residential, transport, and utility infrastructure, all of which rely heavily on construction equipment. Report Scope: MARKET SIZE- VOLUME (2030): 30.19 Thousand Units MARKET SIZE- VOLUME (2024): 21.55 Thousand Units CAGR- VOLUME (2024-2030): 5.78% MARKET SIZE- REVENUE (2030): USD 2.13 Billion HISTORIC YEAR: 2021-2023 BASE YEAR: 2024 FORECAST YEAR: 2025-2030 EQUIPMENT TYPE: Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Equipment Middle East Construction Equipment Market Accelerates Toward Electrification and Sustainability The Middle East is steadily transitioning toward electric and hydrogen-powered construction equipment, driven by national sustainability goals and the urgent need to diversify from fossil fuels. The UAE is leading this transformation through an ongoing construction boom and progressive policy frameworks like We the UAE 2031 and updated National Building Regulations. Construction equipment manufacturers are responding with increased investments and product innovation. Volvo Construction Equipment recently introduced the L120 Electric, a fully battery-powered wheel loader, marking its Middle East debut. The model underwent extensive regional testing in partnership with Al-Futtaim Auto & Machinery Company (Famco) to ensure climate and operational adaptability. Adding to this momentum, Niftylift unveiled its HR15 H2E and HR17 H2E hydrogen-electric boom lifts in April 2025. These machines, powered by hydrogen fuel cells, enable zero-emission operations,ideal for urban and indoor construction projects with strict environmental compliance. To support its growing customer base, Niftylift is also establishing a new regional office in Dubai. Key Market Highlights: UAE Construction Equipment Outlook Earthmoving equipment led the UAE construction equipment market in 2024, driven by strong public infrastructure investments. Excavators held the largest share within this segment. Material handling equipment demand is rising, supported by port expansions and logistics infrastructure. In March 2025, KEZAD Group and Metal Park launched Phase 1 of a new Storage Hub, expected to boost forklift demand. Road construction equipment is also gaining traction, projected to reach USD 135 million by 2030, fueled by projects like Dubai's USD 4.3 billion Main Roads Development Plan (2024–2027). Residential construction surged in 2024, supported by government housing schemes such as the Sheikh Zayed Housing Program announced in February 2025. Tourism and hospitality sector growth continues to drive demand for construction equipment, with over 11,300 hotel rooms set to open in Dubai by 2027, including 4,620 in 2025 alone. UAE's Infrastructure Investment Boom Signals Strong Demand for Construction Equipment The UAE is entering a transformative phase in 2025, with major public infrastructure and multi-use facility projects aligned with national goals such as Strategic Vision 2031 and Net Zero 2050. As the nation accelerates its shift toward a diversified, oil-free economy, large-scale developments, particularly in Dubai and Abu Dhabi, are driving heightened demand for construction equipment. Mega projects like Dubai South and Yas Island are being fueled by rising population needs for residential, transportation, and utility services. At the same time, the federal government has allocated over AED 27 billion ($7.4 billion) to upgrade healthcare and education infrastructure, its most ambitious investment to date. To expedite delivery, the UAE is increasingly leveraging public-private partnerships (PPP), creating strong growth prospects for construction equipment suppliers and technology providers in the region. UAE Construction Equipment Market Heats Up as Global OEMs Deepen Regional Investment The UAE's construction equipment market is becoming increasingly competitive, driven by a national infrastructure surge aligned with Vision 2031 and Net Zero 2050 targets. Global OEMs such as Caterpillar, Komatsu, Volvo CE, Hitachi Construction Machinery, and SANY continue to hold substantial market share, offering a broad range of machinery suited to both urban development and mega projects. Manufacturers are strengthening their presence through strategic partnerships, innovation, and product rollouts tailored for local needs. Komatsu, for instance, is expanding its regional operations while pushing AI-integrated and sustainable equipment solutions, reflecting a wider market shift toward smart construction. Meanwhile, specialized equipment providers are actively supporting landmark projects, especially in Dubai and Abu Dhabi, where large-scale developments and logistics investments are fueling demand for cranes, loaders, and material handling machines. As infrastructure pipelines grow, the UAE is positioning itself as a key hub for next-generation construction technologies in the Middle East. Key Vendors Caterpillar Komatsu Volvo Construction Equipment Hitachi Construction Machinery Liebherr SANY Xuzhou Construction Machinery Group Co., Ltd. (XCMG) JCB Kobelco Zoomlion Heavy Industry Science & Technology Co., Ltd. Other Prominent Vendors Bobcat CNH Industrial HD Hyundai Construction Equipment Liugong Machinery Co., Ltd. DEVELON Tadano Ltd. Terex Corporation Manitou BOMAG GmbH KATO WORKS CO., LTD. AUSA Wacker Neuson SE JLG Industries Toyota Material Handling The Manitowoc Company, Inc. AMMANN Distributor Profiles Abdulla Saeedi General Trading LLC Kanoo Machinery Al-Futtaim Auto & Machinery Company (FAMCO) M.H. Al Mahroos Al Marwan Heavy Machinery Galadari Trucks & Heavy Equipments Market Segmentation & Forecast Segmentation by Type Earthmoving Equipment Excavator Backhoe Loaders Wheeled Loaders Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders) Road Construction Equipment Road Rollers Asphalt Pavers Material Handling Equipment Crane Forklift & Telescopic Handlers Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts) Other Construction Equipment Dumper Tipper Concrete Mixer Concrete Pump Truck Segmentation by End Users Construction Mining Manufacturing Others (Power Generation, Utilities, Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management) Other Related Reports that Might be of Your Business Requirement UAE Elevator and Escalator Market - Size & Growth Forecast 2025-2030 UAE Crawler Excavator Market - Strategic Assessment & Forecast 2024-202 9 What Key Findings Will Our Research Analysis Reveal? How big is the UAE construction equipment market? What is the growth rate of the UAE construction equipment market? Which are the major distributor companies in the UAE construction equipment market? Who are the key players in the UAE construction equipment market? What are the trends in the UAE construction equipment market? Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Fast Company
an hour ago
- Business
- Fast Company
A focus on sustainability's return on investment
For the past year, I've had the opportunity to apply my experience in sector diversified financial services, sustainability, and operational leadership at RE Tech Advisors. I oversee a suite of solutions and services allowing real estate portfolio managers/owners a pathway to integrate and communicate their sustainability efforts. What I've seen in this sector aligns with many other sectors I've worked with. ROI is the predominant motivation for action—short-term ROI via operational cost efficiencies and revenue attraction, and long-term ROI setting up operational resilience in a changing environment. The ROI focus applies to both traditional initiative and sustainability initiative decisions. The line begins to blur when key sustainability initiatives are considered as key operational efforts, the same way as traditional ROI. This is how RE Tech Advisors helps real estate owners find key ROI initiatives with strategic action plans to manage risks and optimize performance. Reduce greenhouse gas emissions (GHGs) Whether you are creating an action plan to reduce your GHG footprint to comply with building performance standards policies, or you're developing a proactive decarbonization action plan to reduce a building's carbon footprint, these can significantly reduce costs: Reduce energy consumption costs: Implementing high efficiency HVAC, better insulation, and smart system integrations such as smart lighting, can reduce energy cost estimates by 30% to 50% in new and existing buildings. Identify operational inefficiencies: Through real-time data analysis and continuous performance monitoring, building managers can adjust or replace systems to improve efficiency based on actual usage energy and water usage patterns. Reduce maintenance costs: Increase energy efficiency and conduct proactive maintenance to realize cost savings through reduced emergency repairs and extending building components' lifespans. Avoid noncompliance fines: Fine amounts varies by jurisdiction, but penalties for policy noncompliance can be a significant expense, based on location and building size. Tax incentives and green financing: Decarbonization roadmaps can unlock millions in funding from programs such as NYSERDA and Fannie Mae and Freddie Mac's Green Financing program. Physical risk management Physical risk management plans help mitigate potential physical building damage from sporadic weather events such as floods, hurricanes, and tsunamis, plus increasing temperature severity and climate pattern changes. Action plans can include installing flood barriers, storm shutters, upgraded drainage systems, impact-resistant windows, reinforced roofs, and elevated foundations. These investments can lead to short-term cost savings, better resilience, and longer-term ROI. Recognized benefits include: Lower insurance premiums: Most insurance companies now integrate physical climate risk scenarios in stress test modelling to calculate premiums accounting for potential risk of future loss. This increasingly influences insurance premiums. Lower costs from severe weather damage: According to from 2020-2024, the cost of climate-related damage in the U.S. was $746.7 billion; the annual average exceeded $149 billion. This financial impact is more than double the annual average of $64.8 billion from 1980 to 2024. Build to higher standards: A study by the U.S. Chamber of Commerce showed that for every $1 invested in disaster preparation, communities save $13 in economic costs, damages, and cleanup. One example showed, '$83 million of investments in resilience and preparedness for a serious tornado hitting Nashville would save more than 5,300 jobs. The amount of production and income saved would be more than $683 million and $464 million, respectively.' An S&P Global Sustainable1 report found that companies could face physical climate costs of up to 28% of the asset value annually without mitigation efforts. Supply chain risk mitigation: Building more resilient supply chain operations and avoiding disruptions from physical building damage and labor interruptions can lead to longer-term ROI. These risks pertain to both U.S. and off-shored supply chain facilities. Transition risk management Climate change and its associated risks continue leading to longer term economic changes. These bring transitionary risks that are important to consider to avoid higher resource and material costs. Through transition risk management, real estate owners can position themselves for: Less exposure to energy supply volatility pricing: Through decreased energy consumption or using alternative sources. Resource scarcity: Can lead to increasing costs and lack of availability of land, water, timber, and steel. Improved capital and lending rates: Rates may consider transition climate risks in risk analysis, or provide green financing with lower rates. Stranded assets: Avoid real estate assets that can be devalued by not appropriately mitigating transition risks. These stranded assets may not be aligned with building energy performance standards such as New York's Local Law 97. Noncompliant buildings could see value reductions of 10–20% due to penalties and retrofit costs. Furthermore, a First Street study suggests that a $1.4 trillion devaluation will occur across real estate assets over 30 years if they fail to meet decarbonization pathways. Communication is key In creating strategies for cost efficiencies and resilience, the owner's ultimate desire is to create a portfolio of attractive assets that are optimal operationally to gain short-term and long-term ROI. It is vitally important to communicate how the company is pursuing these cost saving and resilience initiatives to appropriate stakeholders including investors, banks, employees, operators/tenants, and communities, to help each stakeholder understand the assets' value. Key ways to drive this communication include: Green building certifications: These include LEED, BREEAM, and IREM certifications, which provide stakeholders with independent validation of key energy and carbon management initiatives. Investor reporting frameworks: GRESB and UNPRI provide investors a detailed look at initiatives being pursued, along with gaps, allowing them to benchmark and compare them to peers. Corporate social responsibility reports: These tell stakeholders, such as employees and tenants, about the sustainability efforts being addressed, offering better transparency. Last thoughts Many are pursing the ultimate goal of creating an environment that allows us and future generations to prosper and thrive. Looking at initiatives under the return on investment lens offers a sustainable pathway to meet people where they're at, speak a language they can connect to, and invite them to join the journey leading to a more sustainable economy and world. I look forward to continuing the discourse on how sustainability initiatives can best help drive for cost efficiencies and resilience so that these initiatives move from being an overlay to being deeply integrated into operational excellence.
Condé Nast Traveler
3 hours ago
- Condé Nast Traveler
The World's Most Beautiful Airports for 2025
Finding beauty in the airport may sound more like a philosophical experiment than a realistic travel experience, but the most innovative terminals of today are prioritizing architecture and aesthetics as integral elements of their design. Every year, the Prix de Versailles architecture awards highlights the most beautiful new airport terminals around the world. Beyond just visual appearances, the prize also aims to recognize intelligent sustainability in airport design. Modern airports 'must resolve formidable difficulties in terms of flow management and the aircraft themselves,' Jérôme Gouadain, secretary general of the Prix Versailles, said in a statement. 'This new brand of facilities can also be seen as works of art, or at least as things of beauty.' The six airports that made the 2025 Prix de Versailles list harness design elements that evoke the serenity of nature while incorporating innovations to limit carbon output. In December, three of the airports will be selected to win the even more prestigious Prix de Versailles World Title. Below are the six most architecturally stunning new airports of 2025, including two of the best airports in the US. The new terminal 2 at Yantai Penglai International Airport features a large undulating roof inspired by nearby Kunyu Mountain. 404 N.F Studio China's Yantai Penglai International Airport Terminal 2 Yantai's seaside landscapes were the inspiration for the new terminal at the city's international airport. The building's large undulating roof was inspired by nearby Kunyu Mountain, and its interior curves and stone were designed to mimic the region's scenic coastline.
ABC News
3 hours ago
- Business
- ABC News
Tax reform talk heats up after Treasury FOI error, and that might just suit Jim Chalmers nicely
"Tax should be raised as part of broader tax reform." It's the kind of headline that typically has treasurers ducking and weaving. It certainly had the opposition salivating over an early opportunity to draw some political blood after its own crushing election defeat. "What Mr Albanese needs to explain to the Australian people is what those higher taxes are," Liberal Leader Sussan Ley opined. But, confronted with the accidental release of typically confidential parts of his department's Incoming Government Brief, the treasurer didn't flinch. "I'm pretty relaxed about it, to be honest," was Jim Chalmers' response. No denial, and not even really any concerted attempt to distance the government from what is as close to independent as Treasury advice ever gets (although the treasurer is decamping this week to the G20 meetings in South Africa). Chalmers instead chose to own the leaked advice on tax reform. "We have made it clear that we need to build on the progress we've made in repairing the budget so that we can make the budget even more sustainable," he told reporters. "So, the priorities which are being reported today are the sorts of things that I have mentioned before, including at the National Press Club." For those who missed it, having emerged from an election campaign where Labor played small target and saw its political rivals decimated across the country, the treasurer stood up in a room full of journalists saying he was "personally willing to grasp the nettle". "No sensible progress can be made on productivity, resilience or budget sustainability without proper consideration of more tax reform." The treasurer sounded like he could have been reading straight from his department's brief. A happy accident for Chalmers? With the rebadged Economic Reform Roundtable just a month away, confirmation that Treasury would like to see both the tax take rise and spending fall to finally fix a long-term structural hole in the budget adds further urgency to the task. Economist Nicki Hutley believes the treasurer will not only be relaxed, but even "happy" that the headings around tax reform got out into the public domain. "It helps to promote the conversation ahead of what is a very important round table," she told me. "And the more those issues, particularly challenging ones like tax reform, are aired prior to the round table, the better it is." So, what did we learn about Treasury's views on tax reform? Probably not a huge amount that we couldn't guess. It thinks we need to raise more revenue and spend less. It also thinks those tax increases shouldn't come from workers or businesses, which are already carrying too much of the burden. Although, on the latter point, it seems the nation's biggest company disagrees, breaking ranks with virtually every business lobby group. "We do not believe that lowering the company tax rate should be a priority, provided there is no change to Australia's imputation credit regime," the Commonwealth Bank noted in an official corporate submission to the government's Productivity Commission. "While we, and no doubt other large companies, would welcome a lower company tax rate, we believe there are other priorities which should lead the productivity reform agenda." Regardless of whether income and corporate taxes go down or stay the same, that really leaves those sitting on wealth as the prime targets for more taxation — whether that's through their superannuation, trusts, housing or consumption. The two big hints in the leaked headings are "building on your reforms to superannuation tax" and "reforming the indirect tax system to support budget repair and the fiscal sustainability of Commonwealth and state governments". CBA backs 'superannuation cap' As much as those who hold large superannuation balances, and those who profit from managing them, decry the frequently changing rules around the sector, while it remains an attractive tax shelter for the very wealthy super will continue to be an obvious target for reform. As my colleague Ian Verrender eloquently pointed out, the Albanese government's current proposal to up the tax paid on income from balances above $3 million goes only a little way towards evening the ledger with the wage slaves who still work for a living. In another statement sure to ruffle feathers across the top end of town, CBA put forward a far more radical proposal in its Productivity Commission submission. "Uncapped superannuation concessions appear to be unsustainable," the Commonwealth Bank noted. "We would support a superannuation cap, set at a level that encourages aspiration, and set well above the level where there is dependence on the state for support in retirement." So forget taxing earnings on super balances above $3 million at a mere 30 per cent. What CBA is proposing is that you simply won't be allowed to hold a huge amount inside super, and presumably, earnings on any wealth you hold above that super cap will be taxed at your marginal tax rate. The level of assets at which the part pension cuts out for a single non-home owner is currently $962,500, so let's say the super cap was set at $2 million, more than double that. Such a change might see a person with $4 million in super savings, currently complaining about paying perhaps $15,000 a year extra in tax under Labor's existing proposal, paying an extra $26,000 with part of their earnings likely subject to the top marginal tax rate of 45 per cent. As with all these things, there's no complete absence of self-interest here. The big four banks have all reduced their exposure to superannuation and wealth management after a series of scandals, although CBA does still own a sizeable chunk of Colonial First State. And the tax-advantaged super system is siphoning money away from the place most retirees in my grandparents' generation stuck their savings — the bank, where interest earnings are taxed like income from wages. Capping super balances may shift some of the savings from the wealthy back into the banking system, expanding the pool of cheaper deposit funding for the banks. Nonetheless, it is surprising to see Australia's biggest bank voluntarily weigh into the tax debate. "The Henry Review remains the most comprehensive assessment and blueprint for tax reform in Australia," CBA observed. "It is a sensible starting point from which to launch a national conversation." A starting point we've now been stuck at for more than 15 years. Will Chalmers dare look at the GST or land taxes? Treasury's call for "reforming the indirect tax system" is one area where there's a bit more ambiguity as to exactly what it might be recommending. An obvious, although controversial, target would be raising the rate of the GST or broadening the base of goods and services the tax applies to. While excluded from Ken Henry's otherwise comprehensive tax review due to instructions from then-treasurer (and Chalmers' former boss) Wayne Swan, most economists have long argued that the exclusions from the GST negotiated by John Howard to get it past the Australian Democrats in the Senate should generally be ditched. That would, they argue, not only raise more revenue but reduce the economic distortions caused by the tax and also make compliance much easier for businesses. Pradeep Philip from Deloitte Access Economics says the extra revenue could, as was promised when the GST was first introduced, also be used to eliminate a range of other inefficient state taxes. "We know that while the GST is a highly regressive tax, it is also an incredibly efficient tax," he told The Business. "What's really important in this tax reform debate is to not have piecemeal tax changes, but to have true reform. "And if reforming the GST could see us get rid of inefficient taxes, particularly at the state and territory level, then that could be a really good boost for the Australian economy." The other area few are mentioning is land tax. It's the economists' holy grail, one of the few things that almost all economists, from the most progressive to conservative and in-between, can agree on as a good idea. Land can't be moved or hidden and, thanks to land title registries, we know exactly who owns it. It's easy to confiscate and sell if the tax isn't paid. And taxing it doesn't reduce the supply of it — if anything, it pushes people to sell land they aren't using efficiently. But, despite the economic consensus, the general feeling is that Australians won't stomach a land tax, even though we already effectively pay one via council rates and even if it was set at a level to simply replace the revenue collected by economically destructive stamp duties on real estate transactions. In his Press Club speech, Jim Chalmers said, "this is about testing the country's reform appetite". A proposal to tax all land, including the family home, would certainly reveal just how hungry Australians are for serious productivity-enhancing economic reform. Read the headings of Treasury's policy advice on tax and productivity in full
Forbes
5 hours ago
- Politics
- Forbes
Empowering Youth Is The Key To A Sustainable Population Future
Population and sustainability World Population Day 2025 was on July 11th, and the conversation turned away from doomsday headlines of 'population collapse' and toward a deeper issue: the erosion of reproductive agency. According to the United Nations Population Fund, millions of people especially young people are unable to have the number of children they desire, not because of choice, but because of barriers far beyond their control. This link will give you an idea of the current population which is 8.2 billion. Population Concerns This year's theme, 'Empowering young people to create the families they want in a fair and hopeful world,' reflects the reality of the largest-ever youth generation facing intersecting crises, economic insecurity, gender inequality, healthcare gaps, education deficits, climate disruption, and displacement. According to a UNFPA–YouGov survey conducted across 14 countries, many adults of reproductive age are unable to achieve the family size they desire due to a range of social, economic, and environmental challenges. Nearly 1 in 5 participants said concerns about the future such as climate change, environmental degradation, war, and pandemics had influenced them to have fewer children than they originally intended. Nearly 20% of respondents believed they would be unable to have their desired number of children, while 1 in 3 reported having experienced an unintended pregnancy. Financial barriers were a significant concern, with 39% stating that economic limitations had affected or would affect their ability to build their ideal family. In addition, Around 1 in 4 felt unable to pursue parenthood at their preferred time due to these compounded pressures. UNFPA also noted that young people, in particular, are grappling with deep anxieties about the future. Many fear they will face harsher social and economic realities than previous generations, and these concerns are already shaping their reproductive decisions. Fertility Rates, The Population And Sustainability Fertility rates have fallen globally, from 4.9 children per woman in the 1950s to just 2.3 by 2023, according to Our World in Data. Yet while governments fixate on the issue of declining birth rates, the real crisis is about control: the right to plan our families in dignity, safety, and sustainability. This issue is inseparable from the broader sustainability agenda. When young people are denied access to reproductive healthcare, quality education, or decent work, we also delay progress on the Sustainable Development Goals particularly those focused on gender equality, health, poverty, and climate resilience. The statistics show that young people today are not just thinking about having children, they are thinking about the kind of world they will grow up in. A world where there is clean air to breathe, stable access to food and water, fair economic systems, and energy that does not cost the planet. The lesson here is that giving young people the tools, rights, and opportunities to shape their future is essential. At its core, the population conversation is about sustainability.
