According to Arizton’s latest research report, the Qatar construction equipment market is growing at a CAGR of 5% during 2023-2029.
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Report Scope:
Market Size – Volume (2029): 6.06 Thousand Units
Market Size – Volume (2023): 4.52 Thousand Units
CAGR (2023-2029): 5%
Market Size – Revenue (2029): USD 400.7 Million
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Qatar is leading smart city development in the Middle East, driven by its Vision 2030 to become a global leader in this area. Cities like Lusail and Msheireb are at the forefront, using advanced technologies to enhance infrastructure, improve living standards, and reduce environmental impact.
By 2024, Qatar is advancing various smart city initiatives to enhance urban life through innovative technologies and sustainable practices. Key projects include:
These initiatives are attracting significant foreign direct investment (FDI) and boosting demand for construction equipment in Qatar.
Market Trends
Qatar Booming Tourism Sector Drives Hotel Expansion
As part of the National Tourism Sector Strategy 2030, the Qatari government plans to invest $45 billion to boost tourism by 2030. The hospitality market is projected to grow by 89%, with over 56,000 hotel rooms expected to be completed by 2025. In 2024, the government allocated $5.5 billion for the Simaisma project, which will feature 16 tourism zones, a golf club, a theme park, and extensive retail and dining options in the Simaisma region.
Strong Real Estate Sector Boosts Construction Equipment Sales
Qatar’s real estate sector has shown remarkable resilience, bolstered by government support and ongoing infrastructure development. Demand is rising across residential, commercial, and public infrastructure markets. According to the National Planning Council (NPC), building permits surged by 36% in July 2024 compared to June 2024. The NPC has published the 115th issue of the Monthly Statistics on Building Permits and Completion Certificates issued by state municipalities.
Top Players in the Qatar Construction Equipment Market
Market Leaders Caterpillar, Komatsu, Liebherr, Volvo CE, Hitachi Construction Machinery, and HD Hyundai Construction Equipment dominate the Qatar construction equipment market, holding significant market shares and offering a wide range of equipment.
Niche Players Tadano, Terex, SDLG, Manitou, Merlo Spa, Yanmar, Bobcat, Takeuchi, and Bomag are established niche players in Qatar’s construction equipment sector. While they have a strong presence, their product diversification is limited.
Emerging Competitors Toyota Material Handling, JCB, Kobelco, XCMG, CASE CE, SANY, LiuGong, Zoomlion, and DEVELON are emerging in the market, introducing technologically advanced products to compete with established leaders.
Qatar Construction Equipment Market Dynamics
Drivers
Qatar’s thriving tourism sector
Strong real estate sector
Qatar’s flourishing energy sector
Trends
Increased investment in LNG projects
Growth in Qatar’s industrial sector
Focus on developing smart city projects
Restraints
Overdependency on the hydrocarbon sector
High demand for rental construction equipment
Sustainable construction practices impacting the demand for large construction machinery
Prominent Vendors
Distributor Profiles
Market Segmentation
Type
End Users
In a nutshell, the Arizton Advisory & Intelligence market research report provides valuable market insights for industry stakeholders, investors, researchers, consultants, and business strategists aiming to gain a thorough understanding of the Qatar construction equipment market. Request for Free Sample to get a glance of the report now: https://www.arizton.com/market-reports/qatar-construction-equipment-market
What Key Findings Will Our Research Analysis Reveal?
How big is the Qatar construction equipment market?
Who are the key players in the Qatar construction equipment market?
What are the trends in the Qatar construction equipment market?
Which are the major distributor companies in the Qatar construction equipment market?
What is the growth rate of the Qatar construction equipment market?
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