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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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 |
|
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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
11.2 Vendors (Caterpillar | Volvo Construction Equipment | Komatsu | Hitachi Construction Machinery | Liebherr | JCB | XCMG | Zoomlion | Kobelco | HD Hyundai Construction Equipment| Tadano |SANY| Merlo SPA | Liugong| CNH Industrial | Yanmar | SDLG)
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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