Qatar Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Qatar Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (Q4 2024)

Summary

GlobalData’s Construction in Qatar - Key Trends and Opportunities to 2028 (Q4 2024) report provides detailed market analysis, information and insights into Qatar's construction industry, including -

• Qatar's construction industry's growth prospects by market, project type and construction activity
• Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Qatar's construction industry
• Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline

Qatar’s construction industry is estimated to decline further by 1% real term in 2024, owing to high interest rates, a decline in building permits issued for non-residential buildings, weakness in the industrial market, coupled with increasing budget deficit, and a declining residential sector. Moreover, the total number of permits issued for non-residential buildings declined by 3.6% YoY, while the permits for commercial buildings declined by 69.5% YoY in the first eight months of 2024. Moreover, the average industrial production index fell by 3.1% YoY in the first eight months of 2024, while the average manufacturing production index fell by 3.2% YoY, during the same period. The government announced the 2025 Budget in December which included a budget deficit of QAR13.2 billion ($3.6 billion), up from QAR6.2 billion ($1.7 billion) budget deficit registered in the 2024 Budget. Also, the expected oil and gas revenue for 2025 is estimated at QAR154 billion ($42.3 billion), down by 3.1% compared to QAR159 billion ($43.7 billion) estimated in the 2024 Budget.

However, the construction industry is expected to rebound at an annual average growth rate of 4.5% from 2025 to 2028, supported by investments in renewable energy, industrial projects, and oil and gas initiatives, along with the National Renewable Energy Strategy implemented by the Qatar General Electricity & Water Corporation (Kahramaa). This strategy aims to increase the share of renewable power from 5% in 2024 to 18% by 2030. Additionally, the government plans to invest in renewable energy projects to achieve a capacity of 4GW, which will include 200MW of distributed solar generation by 2030. In line with this, in November 2024, South Korean contractor Samsung revealed that it won a contract from the government for the construction of Qatar's fifth independent water and power project (IWPP).

Scope

• This report provides a comprehensive analysis of the construction industry in Qatar.

It provides -

• Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Qatar, featuring details of key growth drivers.
• Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
• Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
• Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

• Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
• Assess market growth potential at a micro-level with over 600 time-series data forecasts
• Understand the latest industry and market trends
• Formulate and validate business strategies using GlobalData's critical and actionable insight
• Assess business risks, including cost, regulatory and competitive pressures
• Evaluate competitive risk and success factors