The Qatar facility management market attained a valuation of $4,613.0 million in 2019 and is predicted to generate a revenue of $21,975.1 million by 2030. The market is also predicted to demonstrate a CAGR of 16.4% between 2020 and 2030. One of the key factors fueling the growth of the market is the upcoming FIFA World Cup 2022. The soaring investments being made in infrastructural development for the event will propel the market advancement in the future.
According to reports, the overall expenditure for various infrastructure development projects is predicted to be nearly $220 billion. Moreover, the country will witness an investment of more than 10.0% of its annual national output on building infrastructure for the World Cup. Additionally, there are plans to construct a 40,000-seat modular arena for the event, that will include concession stands, seats, and various other facilities. These developments will push up the requirement for facility management services in the coming years.
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Furthermore, this initiative will provide numerous growth opportunities to the players operating in the industry in the future. Depending on the mode of service, the Qatar facility management market is divided into outsourced and in-house services. Between these, the outsourced services category recorded higher growth in the market in the past. This was because these services provide essential support to organizations by ensuring maximum return on investment (ROI) for end users.
When service is taken into consideration, the Qatar facility management market is classified into cleaning, property, catering, security, environmental management, and support. Out of these, the property category is predicted to record the highest growth in the market in the upcoming years. During the last few years, there has been a drastic rise in the popularity of property services such as mechanical & electrical maintenance and heating, ventilation, and air conditioning (HVAC) maintenance.
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Thus, it can be said with confidence that due to the rapid infrastructural development in the country, the market will register explosive growth in the coming years.
Market Size Breakdown by Segment
- Heating, ventilation, and air conditioning (HVAC) maintenance
- Mechanical & electrical maintenance
- Environmental Management
By End User
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