Qatar Crane Rental Market was valued at USD110.55 million in 2021 and
is anticipated to project a robust growth during the forecast period, registering
a CAGR of 10.01% owing to rising construction
activities and infrastructure development in Qatar, etc.
Crane is an equipment which is
generally fully equipped with several elements that include wire ropes, a hoist
and sheaves to lift any rigid material to move them horizontally. Engineering
procurement and contractors can rent cranes from organizations that rent crane
equipment.
Upcoming Major Events in Qatar Driving Market Growth
A number of
major events are going to be held in Qatar in the upcoming years as a result of
the country's stable economy and advantageous government policies that draw
foreign direct investment (FDI). The most important and well-known football
competition in the world, the FIFA World Cup in 2022, will be one of those
occasions. It’s going to be the first time that FIFA World Cup will be hosted
by an Arab nation. No other single sporting event can bring as much attention
to a location as the FIFA World Cup; thus, Qatar can use this global platform
to market itself and grow their businesses. Prior estimates by the Qatari
government indicated that up to 1.5 million new jobs might be produced in Qatar
by the 2022 World Cup, primarily in preparation for the event and tourism and
hospitality during it.
Mega Projects in Qatar
The World Bank
projects that Qatar's GDP will grow by 3-4% in 2022. The country’s over-reliance
on the oil and gas sector could impede its long-term development. The extreme
volatility of oil prices has a direct impact on how well industry’s function.
The government of Qatar is funding a number of infrastructure, road, and
transportation projects all around the nation. The New Doha Port (USD.4
million), the Qatar Long Distance Railways Project (USD3,456 million), the
Siraj Al Kharsaah Solar Power Project in Al-Sahaniya (USD462 million), the mega
water reservoir project (USD3.9 billion), Al Rayyan Stadium (USD600 million),
Al Bayt Stadium (USD192.3 million), and the North Field Extension are the major
projects.
Declining Rental Tariff Driving the
Growth
Even though
Qatar has begun to diversify its economic dependency on oil, oil exports
continue to be the country's main source of income. The national revenue of
Qatar decreased as a result of the sharp slump in crude oil prices.
Additionally, the country's lack of projects and the glut of rental equipment
have led to a decrease in rental rates. Due to increased competition among
rental providers, these businesses were further forced to lower their rental
rates. However, the government's numerous attempts to support the building
industry are projected to boost the Qatar Crane Rental Market during the forecast
period.
Infrastructure Development in
Qatar
Construction,
the nation's fastest-growing industry, is booming in Qatar, where the
government plans to spend more than USD 200 billion as part of a sizable
infrastructure investment programme. Under the auspices of Qatar National
Vision 2030, the industry is projected to continue to dominate attempts to
diversify the economy through the rapid expansion of the tourism, education,
and real estate sectors (QNV 2030). Public spending is the main driver of
growth in the nation and because of its sizable budget surpluses and reserves,
the government is able to finance many projects directly rather than looking
for public-private partnerships. Therefore, the Qatar Crane Rental Market is
anticipated to increase in the following years due to the nation's rapid
infrastructure advancements.
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Market Segmentation
The Qatar Crane Rental Market is
segmented based on type, by end use, by weightlifting capacity, by region, and
by competition. Based on type, the market is further fragmented into the fixed
crane and mobile crane. Based on end use, the market is segmented into building
& construction, mining & quarrying, oil & gas, transportation &
logistics, others. Moreover,
segmentation of the market on grounds of the weightlifting capacity is done
into low, low-medium, heavy, extreme heavy. The market analysis also studies
the regional segmentation, divided among Doha, Al Rayyan, Al Wakra, Umm Slal,
Al Khor & Al Thakhira, and Rest of Qatar.
Company Profiles
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., and Group
Nine Joint Venture Trading & Contracting are among the major market players
in the market growth of the Qatar Crane Rental Market.
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Attribute
|
Details
|
|
Market size value in 2021
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USD 110.55 million
|
|
Revenue Forecast in 2027
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USD 206.05 million
|
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Growth Rate
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10.01%
|
|
Base Year
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2021
|
|
Historical Years
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2017 – 2021
|
|
Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
|
Revenue in (USD million) and CAGR for 2017-2021
and 2022-2027
|
|
Report Coverage
|
·
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments Covered
|
·
Type
·
End Use
·
Weightlifting
Capacity
|
|
Regional Scope
|
Doha, Al Rayyan, Al Wakra, Umm Slal, Al
Khor & Al Thakhira, Rest of Qatar
|
|
Key Companies Profiled
|
Bothar Boring & Tunnelling
Operations, Aryan Cranes and Heavy Equipment W.L.L, United Equipment Group,
Aertssen Machinery Services WLL, 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
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|
Customization Scope
|
10% free report customization with
purchase. Addition or alteration to country, regional & segment scope.
|
|
Pricing and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email (We can also
provide the editable version of the report in PPT/pdf format on special
request)
|
Report Scope:
In this report, Qatar Crane Rental
Market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Qatar Crane Rental
Market, By Type:
o
Mobile
Crane
o Fixed Crane
·
Qatar Crane Rental
Market, By End Use:
o Oil & Gas
o Building & Construction
o Transportation & Logistics
o Mining & Quarrying
o
Others
·
Qatar
Crane Rental Market, By Weightlifting Capacity:
o Heavy
o Low-Medium
o Extreme Heavy
o Low
·
Qatar Crane Rental
Market, By Region:
o Doha
o Al Rayyan
o Al Wakra
o Umm Slal
o Al Khor & Al Thakhira
o
Rest of
Qatar
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Qatar Crane Rental Market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).