Qatar earth-moving equipment market set to grow 5%
Qatar's rise in infrastructure projects continue to drive the earth-moving equipment market, with the sector set to see 5% growth in the coming years
Qatar earth-moving equipment market is expected to grow at a compound annual growth rate (CAGR) of over 5% during 2016-2021, according to a new report.
While Qatar is one of the smallest countries in the GCC region in terms of population and geographical area, its infrastructure projects continue to draw investors, who are attracted to a quicker return on investment, a liberal tax system, and favourable government initiatives.
It is in this environment that the Qatar earth-moving equipment market is expected to grow during 2016-2021, according to Research and Markets' report, 'Qatar Earthmoving Equipment Market By Type (Excavators, Loader, Motor Grader & Bulldozer), Competition Forecast & Opportunities, 2011-2021'.
With the country's urban infrastructure development one of the major focus areas of the government’s National Vision 2030, the number of infrastructure projects in the country are on an increase, with the demand for earth-moving equipment rising as well.
So too, the 2022 FIFA World Cup projects are spurring the government to improve the country's infrastructure.
On the back of the tournament, new hotels are being built across the Gulf state, to accommodate the anticipated visitors, which is also boosting demand for earth-moving equipment in the country.