Qatar Facility Management Market by Service (Property [HVAC Maintenance, Mechanical & Electrical Maintenance], Cleaning, Security, Catering, Support, Environmental Management), by End User (Commercial, Industrial, Residential), by Mode (In-House, Outsourced [Integrated, Bundled, Single]), by Type (Hard, Soft) — Market Size, Share, Development, Growth, and Demand Forecast, 2014–2024
NEW YORK, Jan. 28, 2019 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Intelligence, the Qatari facility management market is expected to witness a CAGR of 8.5% during 2019–2024. The growth of the 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.
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On the basis of service, the Qatari facility management market is categorized into property services (heating, ventilation, and air conditioning (HVAC) maintenance; mechanical and electrical maintenance; and others), cleaning services, security services, catering services, support services, environmental management services, and other services. The other services include reception staffing, utility management, furniture supplies, and contract management.
Property services held the largest share in the facility management industry of Qatar, accounting for 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.
Based on end user, the Qatari facility management market is categorized into commercial, industrial, and residential. The commercial sector was the largest end user in the market, with more than 40% revenue 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 industry of Qatar is expected to experience a significant growth among commercial end users.
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In terms of mode of service, the Qatari facility management market is categorized into in-house and outsourced (integrated, bundled, and single). In-house category held the largest share in the facility management industry of Qatar, with a revenue contribution of 60% in 2017. The leading position of in-house mode of service is attributed to its long-standing presence, comparatively low cost, and high adoption rate.
Based on type, the market is classified into hard, soft, and others (catering services, vehicle fleet management, environmental management, space management, and utility management). Hard services are estimated to account for the largest revenue share in the Qatari facility management market in 2018, driven by the fact that these services are technical in nature and hence are expensive.
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Some of the major players operating in the Qatari facility management market 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. WLL, Confident Enterprises WLL, and ASTAD.
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