Technavio Says Qatar Hosting the FIFA World Cup 2022 Will Expand Its Earthmoving Equipment Market Through 2019
June 22, 2015 | By Business Wire News
LONDON
Technavio has published a new report on the earthmoving equipment market in Qatar, which is expected to grow at a CAGR of almost 11% from 2015-2019.
About the Report
Qatar is set to host the FIFA World Cup 2022, for which the government has planned to construct 10 new sports stadiums with the best infrastructure in the country. The total investment value is estimated to be around $200 billion.
“The government is focusing on developing high-quality supporting infrastructure to accommodate the large tourist population during the World Cup. Efficient execution and timely completion of these construction projects require a continuous supply of earthmoving equipment,” says Faisal Ghaus, Vice President of Technavio.
To meet the growing demand for earthmoving equipment in Qatar, most construction companies are procuring heavy earthmoving equipment because owning it is more feasible than renting it.
“Owning heavy earthmoving equipment allows construction companies to use the equipment according to their own needs, even for long durations,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the earthmoving equipment market in Qatar for the period 2015-2019. In this report, Technavio determined the market size according to the consumption value of earthmoving equipment, and estimated the growth prospects of the market after an analysis of the present market conditions.
Key Information Covered in the Report:
- Key Vendors:
- Caterpillar Inc.
- Hitachi Construction Machinery Co.
- Komatsu Ltd.
- Volvo Construction Equipment
- Market Growth Drivers:
- FIFA World Cup 2022
- For a full detailed list, view our report.
- Market Challenges:
- Expensive Raw Materials
- For a full detailed list, view our report.
- Market Trends:
- Shift from Renting to Owning Heavy Earthmoving Equipment
- For a full detailed list, view our report.
Technavio currently has more than 3,000 market research reports on an extensive range of topics, with 200-plus reports on the earthmoving equipment market. Examples include:
If you are interested in more information, please contact our media team at media@technavio.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150622005522/en/
Technavio Research
Jes Ellacott
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UK: +44-208-123-1770
Media & Marketing Executive
www.technavio.com
media@technavio.com
