GlobalData estimates that the global diagnostic X-ray imaging market, worth $2.4 billion in 2012, will reach almost $4.0 billion by 2020, increasing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period. Many players are active in …
BMI View: Our 2013 real growth forecast of 4.8% is reinforced by the 2011 numbers coming in exactly
how we anticipated and the 2012 data being on track to fulfil or expectations. Significant public spending, a
growing tourism sector, increased direct foreign investment and an improved business environment are all
driving activity in the construction sector. However, we are now seeing a more moderated scale of future
projects, in line with a more realistic demand picture. We believe this outlook will be supported by ongoing
or re-started projects, rather than a stream of new construction contracts.
Factors driving construction industry growth:
? The UAE is spending US$58bn on roads and bridges projects, the cost taken up by projects currently
under way or in the planning phase. The significant figure – which is more than any other Gulf
Cooperation Country (GCC) country – accounts for nearly half of the regional spend.
? The second phase of the US$11bn Etihad Railway Network – also part of the US$100bn GCC Railway
Network – has entered the tendering phase. Construction is scheduled to start early 2013 and will provide
a significant boost to the construction industry.