(MENAFN- GetNews)
"Qatar construction Equipment market Research Report by Arizton"The industry Analysis Report Provides Market Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2024-2029
According to Arizton's latest research report, the Qatar construction equipment market is growing at a CAGR of 5% during 2023-2029.
Looking for More Information? Click:
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:
Lusail City : A $45 billion development covering 38 square kilometers, designed as a fully integrated smart city with residential, commercial, and entertainment zones.
Msheireb Downtown Doha : A $5.5 billion mixed-use district of 31,000 square meters, focused on sustainability and smart technology integration.
Smart Cities Solutions Project : In its initial phase, this project features smart waste management, vehicle and task management systems, and a centralized command platform.
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.
Looking for More Information? Click:
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
Looking for More Information? Click:
Prominent Vendors
Caterpillar
Komatsu
Volvo Construction Equipment
Hitachi Construction Machinery
SANY
Liebherr
Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
JCB
Kobelco
Zoomlion Heavy Industry Science & Technology Co., Ltd.
HD Hyundai Construction Equipment
CASE Construction Equipment
LiuGong
DEVELON
Tadano
Terex Corporation
SDLG
Manitou
MERLO S.p.A
Bomag
Takeuchi
Bobcat
JLG
Ammann
Toyota Material Handling
KATO WORKS CO., LTD.
Haulotte
The Manitowoc Company, Inc.
AUSA
Distributor Profiles
Qatar Tractors & Equipment Co.
Jaidah Heavy Equipment
Qatar Building Co. Heavy Equipment
Nasser Bin Khaled Heavy Equipment
Mannai Trading Co. WLL
Arabian Agencies Company L.L.C (ARACO)
Market Segmentation
Type
Excavator
Backhoe Loaders
Wheeled Loaders
Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders)
Road Construction Equipment
Road Rollers
Asphalt Pavers
Material Handling Equipment
Crane
Forklift & Telescopic Handlers
Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Other Construction Equipment
Dumper
Tipper
Concrete Mixer
Concrete Pump Truck
End Users
Construction
Mining
Manufacturing
Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
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:
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?
Looking for Customization According to Your Business Requirement?
Other Related Reports that Might be of Your Business Requirement
UAE Construction Equipment Market - Strategic Assessment & Forecast 2024-2029
GCC Construction Equipment Market - Strategic Assessment & Forecast 2024-2029
Why Arizton?
100% Customer Satisfaction
24x7 availability – we are always there when you need us
200+ Fortune 500 Companies trust Arizton's report
80% of our reports are exclusive and first in the industry
100% more data and analysis
1500+ reports published till date
Post-Purchase Benefit
1hr of free analyst discussion
10% off on customization
About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
MENAFN05112024003238003268ID1108854725