London, 23 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the construction market in Qatar 2015-2019, which is expected to grow at a CAGR of 7.65% during the forecast period of 2014-2019.
The growing population in the country has led to an increase in demand for public infrastructure, residential developments, and commercial spaces, which is boosting the growth of the construction market in the country.
The government of Qatar has established the QGBC as the governing body for the promotion and implementation of sustainable building and development. The government of Qatar has assessed this need and is now focusing on using sustainable development practices in the construction of infrastructure projects. Apart from this, new building and infrastructure projects are designed to minimize energy consumption.
“In an effort to increase productivity, public and private players in the industry are focusing on adoption new practices in construction such as using IT,” says Faisal Ghaus, Vice President of Technavio.
“The increase in the number of construction projects requires efficient project management so that companies can complete projects within the specified timeline.”
Key Market Drivers
- Hosting of FIFA World Cup 2022
- Growth of Transportation Sector
- Implementation of QNV 2030
Key Market Trends
- Focus on Sustainable Development
- Adoption of New Practices in Construction
- Growth of Mixed Use Developments
Key Market Vendors
- Ashghal
- Bechtel Corp.
- Consolidated Contractors Co.
- El Seif Engineering Contracting Co.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
