Posted On: 2020-04-03
The energy management system segment in Qatar would witness significant growth in the building management system market on account of the growing awareness to boost the non-oil sector along with rising needs for energy conservation techniques - 6WResearch.
Growing demand for smart infrastructure coupled with growing concerns for energy conservation would catalyze the growth of the building management system market in UAE in the coming years. The country’s construction sector is expected to benefit from the investments made on the back of major upcoming events such as FIFA World Cup 2022 and Qatar National Vision 2030, thereby, leading to the robust growth in the building management system market across the country over the forthcoming years. However, the spread of COVID-19 would act as a restraint in the growth of the building management system market in Qatar on account of the halting of many construction projects worldwide.
According to 6WResearch, Qatar building management market size is projected to grow at a CAGR of 7.7% during 2020-2026. Numerous efforts have been taken by the Qatar government to attract foreign markets which would help in building global partnerships for economic diversification to boost the non-oil sectors such as transportation, hospitality, commercial and construction sectors, thereby strengthening the building management system market over the forecast period.
According to Prateek Gupta, Senior Research Analyst, 6WResearch, “Concerns about high carbon footprint coupled with the growing awareness about energy-efficient buildings would give a push for the expansion of energy management systems in the coming years.”
“Facility Management system holds a dominant market revenue share and is anticipated to retain the same over the coming years on account of the urgent need for sustainable usage of electricity that is majorly consumed by HVAC equipment and lighting”, Prateek Gupta further added.
According to Swati Acharya, Research Associate, 6WResearch, “Commercial sector dominated the building management system market in the past and is expected to maintain its prominence over the coming years on account of the government’s vision to develop the tourism market which would create ample opportunities for the construction of malls, stadiums, hotels and airport expansion. This, in turn, would have a positive impact on the commercial sector revenues in the building management system market in Qatar over the coming period.”
Some of the key players in Qatar building management system market include Siemens AG, Johnson Controls International PLC, Schneider Electric SE, and Honeywell International Inc.
Qatar Building Management System Market (2020-2026)" report provides an in-depth analysis with 13 figures and 7 tables covered in more than 70 pages. The report estimates and forecast the overall Qatar building management system market by types, solutions, services, and applications. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.