PRN: Qatar Construction Equipment Rental Market Forecast and Opportunities, 2022: $1.9 Billion Market Driven by Upcoming Mega Sports Events and Anticipated Stabilization of Crude Oil Prices - Research and Markets
Qatar Construction Equipment Rental Market Forecast and Opportunities, 2022: $1.9 Billion Market Driven by Upcoming Mega Sports Events and Anticipated Stabilization of Crude Oil Prices - Research and Markets
DUBLIN, Mar 15, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "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, 2022" report to their offering.
The market for rental construction equipment in Qatar is projected to cross $1.9 billion by 2022, on account of growth in construction and industrial sectors of the country boosted by increase in the expatriate population and upcoming sports events.
Various road projects under Expressway Programme Project, such as construction of Lusail Expressway, New Orbital Highway & Truck Route, Lijmiliya - Leatooriya - Al Sheehaniya Road., etc., have been taken over in the last few years. Moreover, the government is also planning to develop deep water sea port, new international airport, new cities, schools, hospitals, and electric substations in the country during the forecast period. All these projects are expected to significantly boost demand for rental construction equipment in the country through 2022.
Increasing infrastructure development, upcoming mega sports events and anticipated stabilization of crude oil prices are expected to drive Qatar construction equipment rental market during 2017-2022.
Construction equipment are widely used for digging, lifting, extraction, aerial access provision, etc., at construction sites. However, the growing preference for equipment rentals rather than purchases, increasing infrastructure spending and easy availability of construction equipment on rent are the major factors propelling the construction equipment rental market in Qatar. According to the Qatar National Vision 2030, the country's urban infrastructural development is one of the major focus areas of the government.
Qatar construction equipment rental market on the basis of equipment type has been segmented into seven categories, namely, cranes, diesel generators, excavators, wheel loaders, motor graders, telescopic handlers and bull dozers. Among these categories, cranes dominated the market in 2016 and the segment is anticipated to maintain its dominance over the next five years as well.
Some of the renowned companies operating in Qatar construction equipment rental market includes Mohamed Abdulrahman Al-Bahar, Nasser Bin Khaled & Sons, Aggreko Qatar, Mediterranean Equipment and Contracting Co.
Market Trends & Developments
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