Qatar Construction Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Qatar Construction Market Analysis:

The Qatar Construction Market is projected to experience significant growth in the coming years. It is estimated to be valued at USD 57.68 billion in 2023 and is expected to reach USD 89.27 billion by 2028, with a compound annual growth rate (CAGR) of 9.13% during the forecast period of 2023–2028. This growth can be attributed to various factors, including Qatar’s commitment to hosting major international events like the 2022 FIFA World Cup and its National Vision 2030, which aims to enhance the country’s infrastructure and industrial sectors. Additionally, Qatar’s 2050 Transport Plan is set to award 22 new projects worth USD 2.7 billion in 2023 alone, further driving the construction market’s expansion.

In terms of sourcing mechanical, electrical, and plumbing items, Qatari contractors heavily rely on European suppliers and manufacturers. However, due to a supply deficit from Europe, these contractors have been compelled to seek alternative suppliers. This situation has led to fluctuations in the prices of goods and raised concerns about the cancellation of purchase orders and termination of existing contracts. Despite these challenges, Qatar remains committed to its development goals and continues to invest in infrastructure and industrial projects, positioning itself as a prominent player in the construction market. The rapid development of Qatar’s infrastructure has also made it an attractive travel destination in the Gulf region.

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