Construction Market in Qatar 2015-2019
About Construction Market in Qatar
Qatar is one of the richest countries in the world. It has set a benchmark in construction in terms of quality of infrastructure. It is currently poised for heightened activity in its construction sector, which is expected to maintain a steady growth driven by the government's long-term economic development plan QNV 2030. The construction market in Qatar is one of the rapidly growing markets in the Middle East and is a popular destination for investments.
Technavio's analysts forecast the construction market in Qatar to grow at a CAGR of 7.65% over the period 2015-2019.
Covered in this Report
This report covers the present scenario and growth prospects of the construction market in Qatar for the period 2015-2019. To calculate the market size, the report considers the GDP of Qatar and the contribution of investment in the construction sector to the GDP of the country. A detailed segmentation of the construction market in Qatar by sector is also provided. The report forecasts investment in the infrastructure, residential, and non-residential construction sectors in Qatar during the period 2015-2019. In addition, the report discusses the major drivers that influence the growth of the construction market in Qatar. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
Technavio Announces the Publication of its Research Report – Construction Market in Qatar 2015-2019
Technavio recognizes the following companies as the key players in the Construction Market in Qatar: Ashghal, Bechtel, Consolidated Contractors and El Seif Engineering Contracting
Other Prominent Vendors in the market are: HBK Contracting and Ramaco Trading and Contracting
Commenting on the report, an analyst from Technavio’s team said: “The low productivity of the construction industry in Qatar poses a serious threat to the market. In an effort to increase productivity, public and private players in the industry are focusing on adoption new practices in construction such as using IT. The increase in the number of construction projects requires efficient project management so that companies can complete projects within the specified timeline. The usage of IT tools such as ERP can help companies in carrying out procurement, scheduling, monitoring, and planning in a streamlined manner, thereby increasing the productivity of the industry.”
According to the report, Qatar is set to host the FIFA World Cup 2022, for which the government has plans to construct 10 new sports stadiums and create the best infrastructure. These stadiums will be equipped with the best air-conditioning facilities, which will harness energy via solar panels, to provide a favorable temperature. The government is focusing on the development of high-quality supporting infrastructure to accommodate and satisfy the needs of the large tourist population that will visit the country during the World Cup. This has further increased the investment in the construction industry.
Further, the report states that time and cost overruns constitute one of the key challenges faced by the market.
Ashghal, Bechtel, Consolidated Contractors, El Seif Engineering Contracting, HBK Contracting, Ramaco Trading and Contracting