Upcoming FIFA World Cup, Construction Market Boom and Increasing Investments in the Country to Boost Qatar Elevator and Escalator Market– 6Wresearch
6Wresearch announces the release of exhaustive and detailed “Qatar Elevator and Escalator Market (2015-2021)” report covering Elevator & Escalator types, applications and regions. The report estimates and forecast market by Elevator types such as Geared and Non-Geared, Hydraulic and Machine Room Less and Escalator types such as Moving Stairs and Moving Walks. The report segregates application market into Commercial, Industrial and Residential. Further, commercial segment is segmented into Commercial offices, Healthcare, Hospitality, BFSI, and Retail.
Qatar is emerging as key growing Elevator and Escalator market in GCC region. The growth of the market is primarily anticipated to upcoming FIFA World Cup 2022. For this event, more than $300 billion are expected to be invested in the country to build the 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.
According to 6Wresearch, Qatar elevator and escalator market is projected to grow at a CAGR of 5.6% during 2015-21. In Qatar’s elevator and escalator market, maintenance and new installation segments are expected to contribute majorly in the growth of overall market. Though, share of maintenance segment is largest and is anticipated dominate through the forecast period.
Amongst all applications, commercial application captured major share of pie in overall Qatar’s elevator and escalator market. Growing construction activities in the areas of hotels and shopping malls are propelling the demand for elevator and escalator under commercial segment.
In Qatar’s elevator and escalator market, southern region generated majority of the market revenue in 2014. Key cities such as Al-Rayyan, Al-Wakrah and Doha are playing vital role for the growth of 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, population of this region has increased by 100% in last one decade, creating requirement for new residential complexes. The demand is forecast to increase further, boosting elevator & escalator market in Qatar.
The key companies in Qatar Elevator and Escalator market are namely, Schindler, Fujitec, ThyssenKrupp, KONE, OTIS, Hyundai, and Mitsubishi.
“Qatar Elevator and Escalator Market (2015–2021)” provides in-depth analysis with 100 figures and 25 tables covered in 152 pages. The report also gives insights on price trends, market trends, Competitive Landscape, company profiles, market drivers and restraints.