GEC NEWS WIRECauses attributed to huge construction Market, Upcoming FIFA World Cup and Increasing Investments
Qatar is expected to emerge as key growing power rental market in Middle-East region. Increasing infrastructure development activities due to upcoming FIFA World Cup 2022, rising transportation network, surging investments, rising hospitality sector and changing economic reforms are anticipated to drive the growth of power rental business in Qatar.
According to 6Wresearch’s “Qatar Power Rental Market (2014-2020)” report, power rental market in Qatar is projected to grow at a CAGR of 23.3% during 2014-20. With more than $200 billion to be invested across various applications for the upcoming world cup, tremendous growth of rental equipment would be witnessed especially gensets in the country. Construction & industrial application is expected to emerge as fastest growing application in Qatari market. The key developments in Qatar’s construction industry include- building of 9 new stadiums and renovation of 3 existing stadiums, Doha Metro Rail, establishment of Lusail City, expressways and addition of new hotels.
