Qatar Crane Rental Market to Reach USD206 Million by 2027

Rising construction activities, burgeoning foreign investment and government initiatives are expected to drive the growth in Qatar Crane Rental Market during the forecast period, 2023-2027.

According to TechSci Research report, “Qatar Crane Rental Market - By Region, Competition, Forecast & Opportunities, 2017-2027”, Qatar crane rental market stood at USD110.55 million in 2021 and is expected to register a CAGR of 10.01% to reach USD206.05 million by 2027. The rapid urbanization and industrial growth are expected to increase infrastructural development which in turn is likely to lead to a growth of the construction sector of the country. Consequently, the crane rental market of the country is also expected to grow. Various factors such as increased infrastructure spending by the government, rising number of construction sector projects along with the extension of railway lines, the transformation of airports, as well as rising foreign direct investments in the industrial and commercial sectors, have been the key growth drivers of the Qatar Crane Rental Market over the past few years. Additionally, the Qatar National Vision 2030 is the major factor contributing to the growth of the infrastructural development of the country along with the economic, social, human, and environmental developments during the forecast years.

In the coming years, Qatar's foreign direct investment (FDI) is likely to grow. This is because the country has a stable government, a stable currency tied to the US dollar, good infrastructure, and one of the lowest corporate tax rates in the world. Further, the organization of the FIFA 2022 World Cup in Qatar is projected to attract large amounts of foreign investors in the upcoming years. Therefore, increasing FDI is likely to increase the construction activities that shall lead to an increase in demand for the Qatar Crane Rental Market.

The numerous government initiatives toward the upcoming FIFA World Cup 2022 and Qatar National Vision 2030 have increased infrastructure spending, such as constructing roads and modernization of airports and ports, malls, and new rail and metro lines. Construction is Qatar's primary industry and the government concentrates on repairing current infrastructure and executing new construction projects. These growing initiatives are likely to spur the demand for the Qatar Rental Crane Market during the forecast period.

Browse over 18 market data Figures spread through 81 Pages and an in-depth TOC on " Qatar Crane Rental Market "

Qatar Crane Rental market is segmented into type, end use, weightlifting capacity, and region. Based on type, the market is further fragmented into the fixed crane and mobile crane. Mobile Cranes dominated the Qatar Cranes Rental Market with a market share of 56.57% for the base year 2021. This domination of mobile cranes is attributed to its advantage of being mobile/movable. Additionally, the domination of mobile cranes in the Qatar Cranes Rental Market is estimated to increase further during forecast period. A company/contractor can rent a mobile crane and can use it on multiple locations, which reduces operational cost. Additionally, most mobile cranes are also heavy-duty road vehicles, thus they can also be used to transport heavy materials between sites.

Based on end use, the market is segmented into building & construction, mining & quarrying, oil & gas, transportation & logistics, and others. Oil & gas dominates the Qatar Cranes Rental Market with a market share of 41.61% for the year 2021. Oil & gas is further likely to witness an increase in the market share owing to the country’s heavy investments in oil & gas sector. Qatar Petroleum, a government-owned company founded in 1974, controls the entire oil and gas business in Qatar. The backbone of Qatar's economy is oil and gas industry. Furthermore, the Qatari government is working to improve the production capacity of liquefied natural gas (LNG), as the major portion of the GDP is dependent on oil and gas and related industrial activity.

Major market players operating in the Qatar Crane Rental market are:

• Bothar Boring & Tunnelling Operations
• Aryan Cranes and Heavy Equipment W.L.L
• United Equipment Group
• Aertssen Machinery Services W.L.L
• Qatar Al-Attiyah International Group
• Oriental Trading Co. Ltd
• Dutest Qatar W.L.L
• Al Fadal Transport & Trading Co.
• Mediterranean Equipment and Contracting Co.
• Autolink International Trading & Equipment Rental W.L.L
• Arabia House International Transport Est.
• Group Nine Joint Venture Trading & Contracting

Download Sample Report

Customers can also request for 10% free customization on this report.

“Doha dominated the Qatar Cranes Rental Market in 2021 with a market share of 39.00% and is expected to further influence the market during the forecast period given its large market size and presence of major companies. Some of the biggest companies in the Qatar Crane Rental Market, such as Bothar Boring & Tunnelling Operations, Aryan Cranes and Heavy Equipment W.L.L, United Equipment Group, and Aertssen Machinery Services WLL, have their headquarters in the Doha region, depicting a strong base of rental cranes in this region.“said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Qatar Crane Rental Market By Type (Fixed Crane and Mobile Crane), By End Use (Building & Construction, Mining & Quarrying, Oil & Gas, Transportation & Logistics, Others), By Weightlifting Capacity (Low, Low-Medium, Heavy, Extreme Heavy), By Region, Competition, Forecast & Opportunities, 2017-2027”, has evaluated the future growth potential of the Qatar Crane Rental market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Qatar Crane Rental market.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

Web:  https://www.techsciresearch.com