Qatar facility management market is projected to reach $4,386.5 million by 2023, P&S Market Research
The growth of the Qatar facility management market is mainly driven by increasing construction activities in the region, owing to the upcoming mega events such as FIFA World Cup 2022, in the country. Facility management refers to professional services covering multiple disciplines, in a bid to ensure functionality of the built structures through the integration of people, place, process, and technology. Also, these services provide safe and clean environments for residents, employees, and building visitors.
Access Report Summary with Detailed TOC on "Qatar Facility Management Market by Service (Property, Cleaning, Security, Catering, Support, Environmental Management), by End User (Commercial, Residential, Industrial), by Mode (In-House, Outsourced) – Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023” at: https://www.psmarketresearch.com/market-analysis/qatar-facility-management-market
Insights on market segments
On the basis of service, the Qatar facility management market is segmented into property services, cleaning services, security services, catering services, support services, environmental management services, and other services. Other services include reception staffing, utility management, furniture supplies, and contract management.
Property services is estimated to be the largest category in the facility management market of Qatar, with more than 25% revenue contribution in 2017. Property services offer various benefits such as decreased tenant turnover, rent collection, short vacancy cycles, low maintenance and repair costs, assistance with taxes, and others. Owing to such benefits, the demand for this service type is growing in Qatar.
The commercial sector is estimated to be the largest end user in the Qatar facility management market, with more than 40% contribution in 2017. The sector is witnessing increased demand for these services, attributed to the growing awareness among end users for commercial building management to optimize expenditure. During the forecast period, the facility management market of Qatar is expected to experience a significant growth among commercial end users.
In terms of mode of service, the Qatar facility management market is categorised into in-house and outsourced. In-house is estimated to be the larger category in the facility management market of Qatar, with an estimated 60% revenue contribution in 2017. The leading position of in-house mode is attributed to its long-standing presence, comparatively low cost, and high adoption rate.
Upcoming international mega events laying immense opportunities for market growth
Qatar will host some of the major international events to be held during 2018-2022, including World Artistic Championship for Gymnastics, Gulf Expo, International Conference on Environment and Natural Science, FIFA World Cup, Project Qatar 2018, and others, which are creating the need of facility management services. To organize such big events, the country will need infrastructure and hospitality services, in order to provide lodging facility for participants and visitors from different countries.
Some of the major players operating in the facility management industry are Mosanada Facilities Management Services, Cofely Besix Facility Management, Al-Asmakh Management WLL, 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 WLL, and ASTAD.
QATAR FACILITY MANAGEMENT MARKET SEGMENTATION
By End User