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.
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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.
Players operating in the Qatar facility management market include AKTOR Qatar W.L.L., COMO Facilities Management Services, Darwish Interserve Facilities Management W.L.L., Cayan Facility Management, OCS Qatar L.L.C., Confident Enterprises W.L.L., Al Tamyoz Business Group, and CBM Qatar L.L.C. To edge out the competition, these companies are focusing strongly on winning contracts. For instance, AKTOR Qatar W.L.L. and COMO Facility Management Services secured a 20-year facility service contract from Doha Metro in November 2019. They would offer maintenance services at the 100-km Doha Metro network, which includes a tram network, three depots, and 37 underground stations.
Thus, the upcoming FIFA World Cup 2022 in Qatar and the Qatar National Vision 2030 will propel the market growth during the forecast period.
Read more: https://www.psmarketresearch.com/market-analysis/qatar-facility-management-market
