NEW YORK, Nov. 14, 2016 /PRNewswire/ -- Qatar is one of the smallest countries in the Gulf Cooperation Council (GCC) region in terms of population and geographical area. However, Qatar is considered as one of the most attractive destinations for infrastructure investments in the region on account of quicker return on investment, liberal tax system and favorable government initiatives. In Qatar, earthmoving equipment are being majorly used in mining, construction and industrial sectors. Thus, any minor changes or fluctuations in these sectors influences the growth of Qatar earthmoving equipment market. According to the Qatar National Vision 2030, the country's urban infrastructural development is one of the major focus areas of the government. With increase in the number of infrastructure projects in the country, demand for earthmoving equipment is expected to increase in the coming years. Moreover, with FIFA World Cup 2022 to be hosted in Qatar, the government is continuously working on improving the country's infrastructure. To accommodate the visitors, new hotels are being built across the country, which is boosting demand for earthmoving equipment in the country.
According to "Qatar Earthmoving Equipment Market By Type, Competition Forecast & Opportunities, 2011-2021", Qatar earthmoving equipment market is expected to grow at a CAGR of over 5% during 2016 - 2021. On the basis of type, the market of earthmoving equipment has been segmented into four categories - excavator, loader, motor grader and bulldozer. Among these categories, excavator segment dominated the Qatar earthmoving equipment market in 2015, followed by loader, motor grader and bulldozer segments. The same trend is anticipated to continue over the next five years as well. Increasing government efforts to diversify the country's economy into non-oil sector is favoring the construction and housing sectors, where excavators are being widely used to execute several tasks such as digging, extracting, trenching, etc. CAT, JCB, Volvo, Hyundai and Komatsu are the top five players operating in the country's earthmoving equipment market. "Qatar Earthmoving Equipment Market By Type, Competition Forecast & Opportunities, 2011-2021" discusses the following aspects of Qatar earthmoving equipment market: