The Qatari construction equipment rental market is expected to reach US$1.9 billion (€1.79 billion) by 2022, according to market research specialists TechSci Research.
In its report (Qatar Construction Equipment Rental Market By Equipment Type, Competition Forecast & Opportunities, 2016 – 2022), the company said that an increase in infrastructure development, upcoming mega sporting events and an expected stabilisation of crude oil prices was expected to drive the Qatari construction equipment rental market between 2017 and 2022.
It said that a growing preference for equipment rentals rather than purchases, as well as the ease of availability for construction rental were other major factors in the expected rise.
TechSci Research said that projects under the government-led incentive Expressway Programme Project, such as the construction of Lusail Expressway, New Orbital Highway & Truck Route, and Lijmiliya - Leatooriya - Al Sheehaniya Road had taken off in the last few years.
It added that the government was also planning to develop a deep water sea port, a new international airport, new cities, schools, hospitals, and electric substations in the country during the forecast period.
Crane rental is expected to dominate the market over the next five years, with diesel generators, excavators, wheeled loaders, motor graders, telescopic handlers and dozers featuring high up on the list.