Construction Market – Growth, Trends, And Forecast (2019 – 2024) this market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The Qatari construction market is expected to register a CAGR of 9.6% over the forecast period, 2019-2024.
Qatar is expected to be among the fastest-growing global construction markets during the forecasted years, with robust growth forecasts as the government works to meet its significant infrastructure requirements.
– The countrys construction industry is expected to benefit from investments made in preparation for the 2022 FIFA World Cup and Qatar National Vision 2030.
– The construction sector will be primarily driven by public investment into the countrys transport and commercial construction sectors. The main trends in the construction sector remain to develop Qatars transport infrastructure, create a modern residential and hospitality environment to support the predicted increase in population and to create a range of world-class sporting venues.
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Market ByTop Leading Players-
BESIX, L&T, GCC (Global Contracting Company), Fluor Corp., Lotte Engineering & Construction Co. Ltd., Jacob Bros Constructions, J&P (Overseas) Ltd., Arabian Construction Company, ASTAD, PetroServ Limited, Boom Construction Company Doha, QD-SBG Construction, Qatar Building Company, Redco Construction Almana, Porr Qatar Construction
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Scope of the Report
Qatar Construction market is expected to witness a CAGR of 6.7% during the forecast period. Certain factors that are driving the market growth include increasing incidence of cardiovascular diseases and rise in demand for minimally invasive procedures.
Market Key Insights-
FIFA World Cup 2022
The Qatar government has planned to spend around USD 103 billion on major infrastructure projects in preparations for the FIFA 2022 World Cup. The construction industry plays a very important role in achieving infrastructure development and thereby attracting foreign direct investments into the country, which is consistent with Qatars vision of becoming a leading hub in the region for world events, including the FIFA 2022 World Cup.
The official budget for World Cup-specific construction ranges between USD 8 billion and USD 10 billion, although that is supported by the USD 200 billion being spent more generally to have a new metro system and huge infrastructure ready for 2022.
Qatar is spending approximately around USD 500 million a week on capital projects; such as stadiums, training camps, athlete villages and infrastructure projects; such as roads, hospitals and transport hubs, which are necessary to make the country ready for 2022..
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Qatar National Vision 2030
Under the Qatar National Vision 2030, the country is set to award an estimated USD 85 billion worth of planned projects in the coming years. Out of these proposed projects (but unawarded), about USD 9.1 billion worth of projects are under study, while about USD 31.7 billion worth of projects are at some stage of tendering, and USD 44 billion projects are in the designing stage. About USD 12.1 billion worth of projects are planned or underway in the oil and gas project market. Upstream projects account for the lion’s share (about 55%) of the country’s oil and gas projects. Qatars ten biggest construction clients together have about USD 55.1 billion worth of projects in execution with Qatari Diar topping the list with about USD 18.5 billion of projects under construction. Barwa Real Estate Company was Qatars second-biggest construction client with about USD 10.9 billion worth of projects under construction followed by Msheireb Properties with about USD 5.7 billion worth of projects in execution.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Qatar and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Construction Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2024 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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