Qatar Construction Equipment Market Poised for Remarkable Growth Anticipated Sales of 8,596 Units by 2029, Fueled by Qatar's National Vision Plan 2030 - Arizton

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Jun 21, 2023, 11:50 ET

CHICAGO, June 21, 2023 /PRNewswire/ -- According to Arizton's latest research report, the Qatar construction equipment market will grow at a CAGR of 4.54% during 2022-2029.

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Qatar Construction Equipment Market Report by Arizton

Browse In-Depth TOC of the Qatar Construction Equipment Market         

06 - Tables          
57- Charts      
182 – Pages   

The Qatar government included new projects with USD 14.8 billion worth in its budget for 2021. It was planned to award the projects between 2021 and 2023. The nation also spends a lot on construction and infrastructure projects, with USD 220 billion planned for the nation's road system, stadiums, and other amenities. Furthermore, according to figures released by the Planning & Statistics Authority (PSA), Qatar awarded 685 building licences in October 2021. The Umm Slal experienced the biggest growth, at 42.9%, while Al Khor saw growth of 25%. In addition, Qatar National Vision 2030 intends to turn the country by 2030 from a developed economy to a developed nation. The federal government is funding infrastructure development initiatives, such as enlarging the nation's airports, railroads, roads, and highways. The surge in infrastructure development projects is expected to drive the Qatar construction equipment market in the upcoming years.

Qatar Construction Equipment Market Report Scope

Report Attributes	Details
Market Size (2029)	8,596 Units
Market Size (2022)	6,300 Units
CAGR (2022-2029)	4.54 %
Historic Year	2020-2021
Base Year	2022
Forecast Year	2023-2029
Market Dynamics	A Surge in Government Investment in the Country The Increased Investment in Renewable Energy Projects Robust Growth in Oil & Gas Industry

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In 2022, Qatar submitted its second report on the National Determined Contribution (NDC) to the United Nations. In the report, the country pledged to reduce greenhouse gas emissions by 25% by 2030. In 2021, Qatar's Ministry of Environment and Climate Change identified 1,406 sustainability-certified buildings. The country has the highest number of buildings with the Global Sustainability Assessment System (GSAS). Therefore, the country is significantly focusing on developing more green buildings in line with its emission targets. Green buildings incorporate solar panels, green roofs, and energy-efficient appliances to minimize environmental impact.

Moreover, Qatar's solar energy initiatives are witnessing steady growth. With average daily sun rays of around 9.5 hours, low-cloud cover conditions, and plentiful space, the country offers exceptional scope for small, medium, and large-scale solar power projects. The rise in the construction of green buildings and the integration of energy-efficient methods will propel the demand for electric and hybrid construction equipment during the forecast period.

Qatar's National Vision Plan 2030 to Boost the Qatar Construction Equipment Market
A few public infrastructure projects under the QNV 2030 include the Qatar Integrated Rail, a USD 40 billion urban metro, high-speed passenger railway, freight line system, and the New Port Project, a USD 7.4 billion mega port designed for food security facilities and warehouses. The expansion of the Hamad International Airport is also included, with a budget of USD 15.5 billion. Qatar's 2023 budget outlined the implementation of 22 new projects with a total value of USD 2.6 billion. The budget also aims to develop several new schools and improve school facilities in addition to new and existing hospitals and healthcare centers. In March 2023, Further, Qatar Public Works Authority (Ashghal) was in March 2023 awarded the main construction contract 'Roads and Infrastructure' works in Rawdat Egdaim and Ezghawa with a value of $67 million. The project is scheduled for completion by the third quarter of 2025.

Qatar's Energy Sustainability Strategy to Propel the Demand for Material Handling Equipment
In 2022, Doha's Energy Minister started developing two major solar projects that will more than double its energy output from renewable sources within two years. These new plants will be developed at Mesaieed and Ras Laffan, generating a total output of 1.67 gigawatts by the end of 2024. The country also announced its 5 GW solar energy capacity target by 2035. Furthermore, Qatar's Energy Sustainability Strategy 2021 had been set to achieve various targets such as a methane intensity of 0.2% by 2025, carbon reduction intensity of 15% from upstream and 25% from the Liquefied Natural Gas (LNG) facilities by 2030 and add 2-4 GW of renewable energy by 2030.

Rising Green Building Development in the Region to Boost Sales of Hybrid and Electric Construction Equipment
As of 2021, according to the Ministry of Environment and Climate Change, Qatar had 1,406 sustainability-certified buildings. The country has the highest number of buildings with the Global Sustainability Assessment System (GSAS). Therefore, the nation is significantly focusing on developing more green buildings in the region in line with its emissions target and will contribute to the Qatar construction equipment market. Green buildings incorporate solar panels, green roofs, and energy-efficient appliances to minimize environmental impact.

Vendors

Prominent Vendors

Caterpillar
Komatsu
Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
Liebherr
Volvo Construction Equipment
Hitachi Construction Machinery
Zoomlion Heavy Industry Science & Technology Co., Ltd.
JCB
SANY
HD Hyundai Construction Equipment Co., Ltd.

Other Prominent Vendors

Kobelco
Liu Gong
Yanmar
Tadano
CNH Industrial
MERLO Group
SDLG

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

Earthmoving Equipment

Excavator
Backhoe Loaders
Wheeled Loaders
Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers)

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 Mixture
Concrete Pump Truck

End Users

Construction
Mining
Manufacturing
Others (Power Generation, Utilities Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)

Key Questioned Answered in the Report:

How big is the Qatar construction equipment market?
What is the growth rate of 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 industry?
Which are the major distributor companies in the Qatar construction equipment market?

Table of Content

Section1 – Research Methodology

Section 2 – Research Objectives

Section 3 – Research Process

Section 4- Introduction

4.1 Market Coverage

4.2 Report Scope

Section 5- Market at a Glance

5.1 Market Snapshot

Section 6- Executive Summary

Section 7- Market Landscape

7.1 PESTLE Analysis

7.2 Economic Scenario

7.3 Key Projects

7.4 Market Dynamics

7.5 Import & Export Analysis

7.6 Supply Chain Analysis

Section 8- Segmentation

8.1 By Equipment Type

8.1.1 Equipment Definition (Earthmoving)

8.1.1.1 Earthmoving Equipment (Volume & Value)

8.1.1.2 Excavators

8.1.1.3 Backhoe Loaders

8.1.1.4 Wheeled Loaders

8.1.1.5 Other Earthmoving Equipment

(Other Loaders, Bulldozers, Trenchers, etc.)

8.1.2 Equipment Definition (Road Construction)

8.1.2.1 Road Construction (Volume & Value)

8.1.2.2 Road Rollers

8.1.2.3 Asphalt Pavers

8.1.3 Equipment Definition (Material Handling)

8.1.3.1 Material Handling Equipment (Volume & Value)

8.1.3.2 Cranes

8.1.3.3 Forklifts & Telehandlers

8.1.3.4 Aerial Platforms

8.1.4 Equipment Definition (Other Equipment)

8.1.4.1 Other Equipment (Volume & Value)

8.1.4.2 Dumpers

8.1.4.3 Tippers

8.1.4.4 Concrete Mixers

8.1.4.5 Concrete Pump Trucks

8.2 By End-users

8.2.1 End-user Definition

8.2.2 Construction

8.2.3 Manufacturing

8.2.4 Mining

8.2.5 Others (Waste Management, Agriculture, Oil & Gas Extraction, Utilities & Energy, Power Generation, Disaster Management and Water Management)

Section 9- Geographical Analysis

Section 10- Technological Development

Section 11- Competitive Landscape

11.1 Competitive Landscape Overview

11.3 Other Prominent Vendors

11.4 Distributor Company Profiles

Section 12- Report Summary

12.1 Key Insights

12.2 Abbreviation

12.3 Exhibits

12.4 Related Report

12.5 Database

12.6 Global Reach

12.7 Offerings

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