The Qatar facility management market is predicted to grow at 8.7% CAGR during the forecast period with the market size reaching USD 4.8 billion by 2024. The market is driven by factors such as the mounting emphasis on greenhouses and speedy infrastructure developments such as Sidra Medical Research Centre, Sheraton Park, and Western Green Spine raised the demand for facilities services.
Leading projects such as Vision Qatar 2030, National Tourism Sector Strategy 2030, and Qatar Rail Development Program (QRDP), the mounting need for outsourced facility management services, and upcoming events such as FIFA cup 2022, World Artistic Championship for Gymnastics, International Conference on Environment and Natural Science, and Gulf Expo are further fuelling the growth of the market.
The market for facility management in Qatar is primarily driven by leading projects such as Vision Qatar 2030, National Tourism Sector Strategy 2030, and Qatar Rail Development Program (QRDP), and upcoming FIFA cup 2022. The upcoming events would result, the need for hospitality services and infrastructure in order to provide accommodation resource for participants and guests from various countries.
In addition, the Vision Qatar 2030 project was launched by the government to renovate the nation into a developed country. It would include new international airports, schools, electric substations, new cities and hospitals in the country. This offers market players immense opportunities for facility management in Qatar, which will drive their revenue growth.
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Among all services, property segment holds the largest share in the facility management market due to its advantages such as minimal maintenance and repair price, reduced occupant turnover, support with taxes, rent collection, and small vacancy cycles. The catering segment is witnessing the highest growth in the market, owing to mounting tourism and hospitality industry. The property segment is further subdivided into heating, ventilation, and air conditioning (HVAC) maintenance, mechanical and electrical maintenance, and others.
The different end users of, the facility management market are commercial, industrial, and residential. Of all these end users, the commercial category is predicted to witness the highest CAGR of 9.0% during the forecast period owing to escalating alertness among end users for commercial building maintenance to minimize expenditure.
Among all modes, the in-house segment accounted for the larger share in the facility management market in Qatar, due to elevated acceptance rate, long-standing existence, and comparatively low price. In addition, owing to progressively stringent rules and guideline from Health, Safety, and Environmental (HSE) regulatory bodies, a mounting number of companies are confronting complications in fulfilling with the regulatory norms, so the companies are outsourcing their regulatory agreement responsibilities to facility management service providers in Qatar.
The different type of facility management market is hard, soft and others. The hard category accounted for the largest share in the facility management market due to the high cost. Moreover, the hard category requires expert knowledge and technical assistance.
Key players in the facility management industry are investing in the development of advanced, which is strengthening their position in the market Mosanada Facilities Management Services, Confident Enterprises WLL, CBM Qatar LLC, Cofely Besix Facility Management, Al Tamyoz Business Group, COMO Facilities Management Services, ASTAD, OCS Qatar LLC, Al-Asmakh Facilities Management WLL, Elegancia Hospitality & Facility Management Services, and Conservo Facility Management Co. WLL are some of the key players offering facility management in Qatar.
Qatar Facility Management Market Coverage
Service Insight and Forecast 2014-2024
End User Insight and Forecast 2014-2024
Mode Insight and Forecast 2014-2024
Type Insight and Forecast 2014-2024
Facility Management Market by City