Qatar Facility Management Market to Witness a CAGR of 16.4% during 2020–2030

The Qatar National Vision 2030 and the upcoming FIFA World Cup 2022 in the country are the key factors predicted to increase the revenue of the Qatar facility management market from $4,613.0 million in 2019 to $21,975.1 million by 2030, at a CAGR of 16.4% during the forecast period (2020–2030). Moreover, this growing market is currently witnessing the rising awareness regarding the protection of assets and increasing infrastructural development in the country.

The service segment of the Qatar facility management market is categorized into property, cleaning, security, catering, support, environmental management, and others, which include reception staffing, utility management, furniture supplies, and contract management services. Of these, the property category held the largest market share in 2019 due to the rising demand for property management services to cater to the needs of the newly constructed buildings in Qatar. Qatar Vision 2030 and the upcoming mega events are boosting the construction industry, which, in turn, is generating a high demand for facility management services.

To learn more about this report: https://bit.ly/3p5LNkF

Additionally, the mode segment of the Qatar facility management market is classified into in-house and outsourced services. Due to the surging awareness on outsourced facility management services, their market is expected to gain momentum during the forecast period. This can also be attributed to the rapid growth in the construction industry, which generates huge demand for facility management services in the country. In addition, companies are establishing long-term competitive advantages in the marketplace and maximizing the return on investment with the help of outsourced facility management services.

Players operating in the Qatar facility management market include AKTOR Qatar W.L.L., COMO Facilities Management Services, Darwish Interserve Facilities Management W.L.L., Cayan Facility Management, OCS Qatar L.L.C., Confident Enterprises W.L.L., Al Tamyoz Business Group, and CBM Qatar L.L.C. To edge out the competition, these companies are focusing strongly on winning contracts. For instance, AKTOR Qatar W.L.L. and COMO Facility Management Services secured a 20-year facility service contract from Doha Metro in November 2019. They would offer maintenance services at the 100-km Doha Metro network, which includes a tram network, three depots, and 37 underground stations.

Thus, the upcoming FIFA World Cup 2022 in Qatar and the Qatar National Vision 2030 will propel the market growth during the forecast period.

Read more: https://www.psmarketresearch.com/market-analysis/qatar-facility-management-market

Comments

Post a Comment

Popular posts from this blog

Surging E&P in Shale Gas Reserves Propelling Demand for Well Cementing

Image
With the surge in exploration and production (E&P) activities in both unconventional and conventional oil and gas reserves, the demand for well cementing is growing rapidly all over the world. Moreover, because of the recovery of crude oil prices, the oil and gas industry is booming, which is, in turn, propelling the requirement for well cementing. The soaring E&P investments in countries such as China, Russia, Brazil, and the U.S. are fueling the expansion of the well cementing industry. Due to the above-mentioned factors, the demand for well cementing is rising sharply across the world. This is fueling the progress of the global well cementing market. The valuation of the market is predicted to grow from $7,577.6 million in 2018 to $10,065.4 million by 2024. Furthermore, the market is predicted to progress at a CAGR of 4.7% between 2019 and 2024. Well cementing is used in shale gas, oil, and gas wells.  Out of these, the requirement for well cementing is predicted to grow ra
Read more

How Will Cooling Appliance Demand Propel Insulation Market Growth?

Image
Factors such as the escalating demand for refrigerators and air conditioners, mounting infrastructure expenditure in developing countries, such as Brazil, China, India, and Russia, and increasing government support toward the installation of insulation systems in buildings are expected to drive the insulation market growth between 2018 and 2025. According to P&S Intelligence, the market will generate $101.3 billion revenue by 2025. Nowadays, governments of several countries are offering regulatory support to the installation of insulation products to improve energy efficiency.  The rising demand for air conditioners and refrigerators, on account of the soaring global temperature and the booming world population, is one of the major contributors to the market growth worldwide. The National Aeronautics and Space Administration estimates that the average surface temperature of the Earth has risen by 2.12 oF in 2020 since the late 19th century.  As per NASA, the years 2016 and 2020 ar
Read more

Burgeoning Demand for Packaging Materials Propelling Need for Extrusion Coatings

Image
The food and beverage industry is witnessing significant growth due to the rising population and awareness among people regarding their health. The health concerns of people are growing and they are constantly looking out for food items that are healthy . Moreover, the food and beverage industry is witnessing the development of low-calorie, sugar-free, lactose-free and gluten-free food products to cater to the demands of consumers. This is consequently pushing up the demand for extrusion coating materials as these materials play a crucial role in packaging applications owing to their ability to protect food items from various external environmental factors.  In addition, extrusion coating provides an aesthetic appeal to the foods and beverages, thereby making them more attractive and saleable. In addition to the food and beverage industries, there are many other industries, such as healthcare and personal care, which extensively use extrusion coatings. The increasing income of people a
Read more