Dublin, Sept. 12, 2024 (GLOBE NEWSWIRE) -- The "Qatar Construction Industry Databook Series - Market Size & Forecast by Value and Volume (area and units), Q2 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Qatar is expected to grow by 4.4% to reach QAR 133.55 billion in 2024. ACAGR of 4.7% is projected during 2024-2028, with the country's construction output expected to reach QAR 155.76 billion by 2028, indicating substantial growth potential.
This market intelligence report offers a comprehensive view of market opportunities in the building and infrastructure construction industry at the country level. With over 100+ KPIs covering growth dynamics in building and infrastructure construction, construction cost structure analysis, and analysis by key cities in Qatar, this databook provides a wealth of data-centric analysis with charts and tables, ensuring stakeholders are fully informed.
Despite near-term challenges in certain construction sectors, Qatar's construction industry is poised for significant growth. The industry is expected to grow steadily over the next four quarters, with the growth momentum continuing over the forecast period. The construction industry in Qatar is undergoing a significant transformation, shaped by economic fluctuations, government initiatives, and evolving market demands.
The construction industry in Qatar is navigating a complex landscape characterized by short-term challenges and long-term growth potential. With significant government investments, a focus on diversification, and emerging opportunities in residential, commercial, institutional, industrial, and infrastructure construction, the sector is well-positioned for recovery and expansion. Senior executives should monitor these trends to capitalize on the evolving market dynamics and align their strategies accordingly.
Government Investment: Qatar is committed to investing over QAR 728 billion (approximately USD 200 billion) in infrastructure projects by 2030. This investment aims to diversify the economy, expand the North gas field, and prepare for the 2030 Asian Games, enhancing the construction landscape.
Focus on Renewable Energy: A significant aspect of the construction outlook includes the expansion of Liquefied Natural Gas (LNG) production capacity by 85%, projected to increase from 77 million tonnes per annum (mtpa) in 2023 to 142 mtpa by 2030. This initiative is expected to spur industrial and energy construction growth.
Advancing Residential Construction
- Permit Trends: Despite a decline in overall building permits issued in 2023, the residential sector remains resilient, indicating potential for recovery as new projects are initiated. The government aims to distribute affordable housing units to a significant portion of the population by 2030, further supporting sector growth.
Expanding Commercial Construction Opportunities
- Sector Growth: The commercial construction sector is expected to rebound as leisure, hospitality, and retail building investments increase. Qatar's efforts to enhance its global transportation hub status and attract international businesses support the anticipated growth.
- Public-Private Partnerships (PPPs): The endorsement of new laws regulating PPPs will likely attract private sector investments in commercial projects, enhancing the sector's growth potential. This approach is critical for developing infrastructure and commercial facilities that meet the needs of a growing economy.
Strengthening Institutional Construction
- Investment in Facilities: Increased public spending will benefit the institutional construction sector, which encompasses educational and healthcare facilities. The government is focused on improving access to quality education and healthcare, which will drive demand for new institutional projects.
- Long-Term Development Goals: With ongoing investments in research facilities and educational institutions, the institutional sector is expected to grow steadily, aligning with Qatar's long-term development goals and enhancing residents' overall quality of life.
Enhancing Industrial Construction
- Sector Resilience: Industrial construction, particularly in the oil and gas sector, is expected to grow due to substantial investments in new projects. The construction of the QAR 21.8 billion Ras Laffan Petrochemical Complex is a notable example, which will significantly enhance Qatar's petrochemical production capacity by 2026.
- Diversification Efforts: The government's focus on diversifying the economy away from hydrocarbons drives investments in manufacturing and renewable energy projects, further bolstering the industrial construction sector.
Developing Infrastructure Construction
- Infrastructure Investment: The infrastructure construction sector is anticipated to experience growth driven by government spending on transportation and utility projects. This includes the development of rail and road networks, which are essential for enhancing connectivity and supporting economic activities.
- Mega-Project Pipeline: Qatar's commitment to large-scale infrastructure projects, including the upcoming rail line linking Qatar and Saudi Arabia, reflects a strategic approach to improving national infrastructure and positioning Qatar as a regional hub.
For more information about this report visit https://www.researchandmarkets.com/r/xu4e9f
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
