Qatar Crane Rental Market to Reach USD206 Million by 2027
Rising construction activities, burgeoning foreign investment
and government initiatives are expected to drive the growth in Qatar Crane
Rental Market during the forecast period, 2023-2027.
According
to TechSci Research report, “Qatar Crane Rental Market - By Region, Competition,
Forecast & Opportunities, 2017-2027”,
Qatar crane rental market stood at USD110.55 million in 2021 and is expected to
register a CAGR of 10.01% to reach USD206.05 million by 2027. The rapid
urbanization and industrial growth are expected to increase infrastructural
development which in turn is likely to lead to a growth of the construction
sector of the country. Consequently, the crane rental market of the country is
also expected to grow. Various factors such as increased infrastructure
spending by the government, rising number of construction sector projects along
with the extension of railway lines, the transformation of airports, as well as
rising foreign direct investments in the industrial and commercial sectors,
have been the key growth drivers of the Qatar Crane Rental Market over the past
few years. Additionally, the Qatar National Vision 2030 is the major factor
contributing to the growth of the infrastructural development of the country
along with the economic, social, human, and environmental developments during
the forecast years.
In
the coming years, Qatar's foreign direct investment (FDI) is likely to grow.
This is because the country has a stable government, a stable currency tied to
the US dollar, good infrastructure, and one of the lowest corporate tax rates
in the world. Further, the organization of the FIFA 2022 World Cup in Qatar is
projected to attract large amounts of foreign investors in the upcoming years.
Therefore, increasing FDI is likely to increase the construction activities
that shall lead to an increase in demand for the Qatar Crane Rental Market.
The
numerous government initiatives toward the upcoming FIFA World Cup 2022 and
Qatar National Vision 2030 have increased infrastructure spending, such as
constructing roads and modernization of airports and ports, malls, and new rail
and metro lines. Construction is Qatar's primary industry and the government
concentrates on repairing current infrastructure and executing new construction
projects. These growing initiatives are likely to spur the demand for the Qatar
Rental Crane Market during the forecast period.
Browse over 18 market data Figures spread through 81 Pages
and an in-depth TOC on " Qatar Crane Rental Market "
Qatar Crane Rental market is segmented into
type, end use, weightlifting capacity, and region. Based on type, the market is
further fragmented into the fixed crane and mobile crane. Mobile Cranes
dominated the Qatar Cranes Rental Market with a market share of 56.57% for the
base year 2021. This domination of mobile cranes is attributed to its advantage
of being mobile/movable. Additionally, the domination of mobile cranes in the
Qatar Cranes Rental Market is estimated to increase further during forecast
period. A company/contractor can rent a mobile crane and can use it on multiple
locations, which reduces operational cost. Additionally, most mobile cranes are
also heavy-duty road vehicles, thus they can also be used to transport heavy
materials between sites.
Based
on end use, the market is segmented into building & construction, mining
& quarrying, oil & gas, transportation & logistics, and others. Oil
& gas dominates the Qatar Cranes Rental Market with a market share of
41.61% for the year 2021. Oil & gas is further likely to witness an
increase in the market share owing to the country’s heavy investments in oil
& gas sector. Qatar Petroleum, a government-owned company founded in 1974,
controls the entire oil and gas business in Qatar. The backbone of Qatar's economy
is oil and gas industry. Furthermore, the Qatari government is working to
improve the production capacity of liquefied natural gas (LNG), as the major
portion of the GDP is dependent on oil and gas and related industrial activity.
Major market players operating in the Qatar
Crane Rental market are:
- Bothar Boring & Tunnelling Operations
- Aryan Cranes and Heavy Equipment W.L.L
- United Equipment Group
- Aertssen Machinery Services W.L.L
- Qatar Al-Attiyah International Group
- Oriental Trading Co. Ltd
- Dutest Qatar W.L.L
- Al Fadal Transport & Trading Co.
- Mediterranean Equipment and Contracting Co.
- Autolink International Trading & Equipment Rental W.L.L
- Arabia House International Transport Est.
- Group Nine Joint Venture Trading & Contracting
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“Doha dominated the Qatar Cranes Rental
Market in 2021 with a market share of 39.00% and is expected to further
influence the market during the forecast period given its large market size and
presence of major companies. Some of the biggest companies in the Qatar Crane
Rental Market, such as Bothar Boring & Tunnelling Operations, Aryan Cranes
and Heavy Equipment W.L.L, United Equipment Group, and Aertssen Machinery
Services WLL, have their headquarters in the Doha region, depicting a strong
base of rental cranes in this region.“said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Qatar Crane Rental Market By Type (Fixed Crane and
Mobile Crane), By End Use (Building & Construction, Mining & Quarrying,
Oil & Gas, Transportation & Logistics, Others), By Weightlifting
Capacity (Low, Low-Medium, Heavy, Extreme Heavy), By Region, Competition,
Forecast & Opportunities, 2017-2027”, has evaluated the future
growth potential of the Qatar Crane Rental market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Qatar Crane Rental market.
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