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.

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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

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