Posted On: 2018-03-23
Qatar is predicted to be the fastest growing country in the GCC region. Growth in the country's construction sector is attributed to spending of over $200 billion by the government for several infrastructural development projects in certain key sectors such as health, education, and transportation. GDP from non-oil dependent sectors expanded by 5.6% in 2016, driven by huge emphasis on infrastructural development activities and completion of projects in preparation for upcoming FIFA World Cup 2022. Additionally, continuous spending by the government across certain key public sectors to avoid delay in completion of projects coupled with growing private sector contribution would boost Qatar UPS Systems Market over the next few years.
According to 6Wresearch, Qatar Uninterruptible Power Supply (UPS) Systems market revenues are projected to grow at a CAGR of 4.9% during 2018-24. Qatar is likely to exhibit high intensity construction activities primarily driven by Qatar's National Vision 2030. Moreover, with the introduction of stringent government policy regarding mandatory installation of the IP CCTV cameras in every business organizations along with backup system would further boost the growth of UPS systems market during the forecast period."
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "The commercial application segment dominates the market, this is attributed to large acceptance of UPS systems in sectors such as hospitality, healthcare, data centers and commercial offices. Moreover, growing investment in the commercial sector is likely to assist the growth of UPS systems in this application."
"The hospitality sector is projected to witness substantial growth during the forecast period, this is attributed to government strategy for Qatar National Tourism Sector which is focused towards improving the tourism sector over the next six years and would contribute significantly to the growth of UPS systems market," Ravi further added.
According to Sachin Agarwal, Research Associate, Research and Consulting, 6Wresearch, "Small rating UPS segment acquires the largest volume share on account of high consumption in commercial offices and SME's. Further, this segment is expected to maintain its dominance in future as well owing to creation of three special economic zones in (Ras Bulfontas, Abu Nakhla, and Um Alhoul) in the country."
"Amongst all the regions, the Southern region holds majority of the market revenue shares in the overall UPS systems market in the country, owing to the expansion of across major sectors and increasing IT infrastructure across the region, " Sachin further added.
Some of the major companies in the Qatar uninterruptible power supply (UPS) systems market include - Schneider Electric SE, Vertiv Co., Eaton Corporation Plc, Tripp Lite, General Electric, ABB Ltd., Socomec Middle East, and RIELLO UPS Middle East FZ-LLC.
"Qatar Uninterruptible Power Supply (UPS) Systems Market (2018-2024)" provides an in-depth analysis with 49 figures and 34 tables, covered in more than 120 pages. The report estimates and forecast the overall Qatar UPS Systems market by revenue, volume, rating, regions and applications such as commercial, industrial and residential. The report also offer insights on competitive landscape, company profiles, market drivers and restraints.