Dublin, May 25, 2021 (GLOBE NEWSWIRE) -- The "Qatar Facility Management Market Research Report: By Service, End User, Mode, Type - Industry Dynamics and Revenue Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Qatar National Vision 2030 and the upcoming FIFA World Cup 2022 in the country are the key factors predicted to increase the revenue of the Qatar facility management market from $4,613.0 million in 2019 to $21,975.1 million by 2030, at a CAGR of 16.4% during the forecast period (2020-2030).
Moreover, this growing market is currently witnessing the rising awareness regarding the protection of assets and increasing infrastructural development in the country.
One of the prime factors behind the growth of the market is the upcoming FIFA World Cup 2022, which is to be held in the country. The overall expenditure on infrastructure projects to host the World Cup is estimated at around $220 billion. For instance, the country has planned to build a 40,000-seat modular arena having concession stands, comfortable seats, shops, bathrooms, and other necessary facilities. Many such developments are expected to take place in the coming years; thus, the upcoming event will drive the need for facility management services.
The service segment of the Qatar facility management market is categorized into property, cleaning, security, catering, support, environmental management, and others, which include reception staffing, utility management, furniture supplies, and contract management services.
Of these, the property category held the largest market share in 2019 due to the rising demand for property management services to cater to the needs of the newly constructed buildings in Qatar. Qatar Vision 2030 and the upcoming mega events are boosting the construction industry, which, in turn, is generating a high demand for facility management services.
Additionally, the mode segment of the Qatar facility management market is classified into in-house and outsourced services. Due to the surging awareness on outsourced facility management services, their market is expected to gain momentum during the forecast period.
This can also be attributed to the rapid growth in the construction industry, which generates huge demand for facility management services in the country. In addition, companies are establishing long-term competitive advantages in the marketplace and maximizing the return on investment with the help of outsourced facility management services.
The surging demand for outsourcing such services is creating immense opportunities for the Qatar facility management market, owing to the lack of in-house expertise and a need to focus on core competencies. These services offer several advantages, such as low operating cost, low energy consumption, lifetime servicing of plants and equipment, and superior technical maintenance. Large organizations that have complex portfolios to manage prefer outsourcing these services, to focus on their core operations.
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Service
126.96.36.199.1 HVAC maintenance
188.8.131.52.2 Mechanical & electrical maintenance
184.108.40.206 Environmental management
4.1.2 By End User
4.1.3 By Mode
4.1.4 By Type
4.2 Market Dynamics
220.127.116.11 Increasing infrastructural development in the country
18.104.22.168 Surging awareness regarding protection of assets
22.214.171.124 Upcoming FIFA World Cup 2022 in the country
126.96.36.199 Qatar National Vision 2030
188.8.131.52 Impact analysis of drivers on the market forecast
184.108.40.206 Stringent staffing policies and labor laws of the country
220.127.116.11 Impact analysis of restraints on the market forecast
18.104.22.168 Increasing demand for outsourced facility management services
22.214.171.124 Upcoming international mega events in the country
4.3 Impact of COVID-19
4.4 Porter's Five Forces Analysis
Mosanada Facilities Management Services
Al-Asmakh Facilities Management W.L.L.
COMO Facilities Management Services
OCS Qatar LLC
CBM Qatar LLC
Elegancia Hospitality & Facility Management Services
Al Tamyoz Business Group
Conservo Facility Management Co. W.L.L.
Confident Enterprises W.L.L.
AMWAJ Catering Services
Facilities Management & Maintenance Company L.L.C.
Darwish Interserve Facilities Management WLL
Al Mirqab Facilities Management
Q-TEC ELECTRIC W.L.L
EFS Facilities Services Group
Cayan Facility Management
For more information about this report visit https://www.researchandmarkets.com/r/xi7fbz
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