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For Qatari residents: Do you prefer a summer or winter World Cup 2022?




Elevating to new heights

Written by  Author |   Wed, 08 July 2015 10:10


The growth in construction market due to the upcoming FIFA World Cup and increasing investments will boost Qatar’s elevators and escalators market to grow at a compounded annual growth rate (CAGR) of 5.6% during 2015-21, a report said.

Qatar is emerging as a key and growing elevator and escalator market in the GCC region, explained the report entitled “Qatar Elevator and Escalator Market (2015-2021)” by 6wresearch, a global market research and consulting firm specializing in niche and emerging markets.

The growth of the market is primarily anticipated to the upcoming FIFA World Cup 2022. For this event, more than $300 billion are expected to be invested in the country to build the required infrastructure. Mega construction activities in the areas of hospitality, retail, healthcare, transportation, and leisure & entertainment would create opportunities for elevator and escalator market players in the country, the report said.

In Qatar’s elevator and escalator market, maintenance and new installation segments are expected to contribute majorly in the growth of the overall market. Though, the share of the maintenance segment is the largest and is anticipated to dominate through the forecasted period.

Among all applications, commercial applications captured a major share of the pie in the overall Qatar’s elevator and escalator market, due to growing construction activities in the areas of hotels and shopping malls. In Qatar’s elevator and escalator market, the southern region generated the majority of the market revenue in 2014, the report said.

Key cities such as Al-Rayyan, Al-Wakrah and Doha are playing a vital role in the growth of the southern region market. Major construction of hotels, transportation infrastructure, airport, stadiums and hospitals is expected, which would drive elevator & escalator business in the region.

Also, the population of this region has increased by 100 percent in the last decade, creating requirements for new residential complexes. The demand is forecast to increase further, boosting the elevator & escalator market in Qatar.

The key companies in Qatar’s Elevator and Escalator market are namely, Schindler, Fujitec, ThyssenKrupp, KONE, OTIS, Hyundai, and Mitsubishi. The report provides in-depth analysis with 100 figures and 25 tables covered in 152 pages. It also gives insights on price trends, market trends, competitive landscape, company profiles, market drivers and restraints.

 

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