Qatar Construction Equipment Rental Market to Surpass $1.9 Billion by 2021
Surging
expatriate population, growing construction activities along with increasing
government expenditure to boost Qatar construction equipment rental market
through 2022
According to TechSci Research report, “Qatar
Construction Equipment Rental Market By Equipment
Type, Competition Forecast & Opportunities,
2016 – 2022”, the rental
market of construction equipment is projected to cross $1.9 billion mark by
2022, owing to high purchasing cost of construction equipment due to which construction
companies prefer procuring equipment on rent. In addition, the major factor
fueling Qatar construction equipment rental market can be attributed to increasing
expatriate population and upcoming mega sports events, such as FIFA World Cup
2022 as well IAAF World Athletics Championship 2019. Further, increase in Qatar’s
GDP from $44.54 billion in 2005 to $164.64 Billion in 2015, over the last
decade, has resulted in infrastructure developments in the country. All the
above stated factors are expected to stimulate construction activities in the
country, thereby, propelling Qatar construction equipment rental market.
Browse 30 Figures spread through 90
Pages and an in-depth TOC on " Qatar
Construction Equipment Rental Market "
https://www.techsciresearch.com/report/qatar-construction-equipment-rental-market-by-equipment-type-crane-diesel-generator-excavator-wheel-loader-bull-dozer-motor-grader-and-telescopic-handler-competition-forecast-and-opportunities/912.html
In 2016, crane dominated Qatar construction equipment
rental market and it is expected to lead the market during the forecast period
as well, owing to its use across residential/commercial setups, especially, for
high rise building construction in the country. Moreover, residential sector created
the highest demand for diesel generators in 2016. 250 – 750 KVA category held the
largest share in diesel generators rental market.
Construction equipment are being used in large number of construction projects that are in the pipeline, such as Qatar
Rail Project, Hamad Port, etc. In addition, to accommodate visitors during the
sports events, new hotels are being built across the country, which is boosting
demand for earthmoving equipment in the country. As a result of increasing
construction activities, the construction equipment rental market in Qatar is
forecast to witness growth through 2022. Doha is the dominating region in
construction equipment rental market where huge number of large-scale projects
are being undertaken, followed by Al Rayyan and Umm Salal, which are also
fuelling growth in the country’s construction equipment rental market.
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“FIFA World Cup 2022 is anticipated to push construction
equipment rental market in Qatar
over the coming years. In addition, major development plan “National Vision
2030” officially launched by the government in October 2008, with an aim
to transform the nation into a developed country, has various goals set including
expansion of the country’s infrastructure. Consequently, the Government of
Qatar has undertaken various projects related to new international airport, new
cities, schools, hospitals and electric substations in the country, which are
expected to drive the market through 2022.”, said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Qatar
Construction Equipment Rental Market By Equipment Type, Competition Forecast & Opportunities,
2016 – 2022” has evaluated the future
growth potential of construction equipment rental market in Qatar and provides
statistics and information on market structure, rental tariff, competitive
scenario and upcoming trends and developments in the market. The report intends
to provide cutting-edge market intelligence and help decision makers take sound
investment evaluation. Besides, the report also identifies and analyzes
emerging trends along with essential drivers, challenges and opportunities
available in construction equipment rental market in Qatar.
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