Qatar Construction Rises

The Qatar construction-equipment rental market is projected to cross the $1.9 billion mark by 2022, due to high purchasing costs of equipment, which causes construction companies to rent equipment. The major factors fueling the Qatar construction equipment rental market is increasing expatriate population and upcoming mega sports events, such as FIFA World Cup 2022 as well IAAF World Athletics Championship 2019. The increase in Qatar's GDP from $44.54 billion in 2005 to $164.64 billion in 2015 has resulted in infrastructure developments. These will stimulate construction activities, propelling the market.

In 2016, cranes dominated the Qatar construction-equipment rental market and it is expected they will lead the market during the forecast period, due to its use across residential/commercial setups. The residential sector created the highest demand for diesel generators in 2016.

Construction equipment is being used in a large number of construction projects that are in the pipeline, such as Qatar Rail Project and Hamad Port. To accommodate visitors during the sports events, new hotels are being built across the country, which boosts demand for earthmoving equipment in the country. As a result of increasing construction activities, the market is forecast to witness growth through 2022. Doha is the dominating region in the market where huge numbers of large-scale projects are being undertaken, followed by Al Rayyan and Umm Salal, which are also fuelling growth in the country's market.

FIFA World Cup 2022 is anticipated to push the market throughout the coming years. A major development plan "National Vision 2030" officially launched by the government in October 2008, aimed to transform the nation into a developed country, and has goals including the expansion of the country's infrastructure. The government of Qatar has undertaken various projects related to a new international airport, new cities, schools, hospitals, and electric substations in the country, which are expected to drive the market through 2022. The growth of the nation will fuel the construction equipment rental market in Qatar.

Posted: 5/1/2017 1:28:02 PM



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