Qatar: Elevator, escalator market to drive growth by 4.21% CAGR

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Doha, Qatar: Qatar’s elevator and escalator sector is anticipated to post a compound annual growth rate (CAGR) of 4.21 percent by 2029, according to a global analytical platform, Research and Markets.

The report noted that the country has been positioning itself as a “noticeable sports destination” since the successful hosting of the FIFA World Cup 2022 and winning the bid to organise the Asian Games in 2030. Qatar also won its securing rights for the AFC Asian Cup 2023, which is scheduled to commence next week.

Experts at the research group underlined that these events emphasise the demand for developed infrastructure, including stadiums, accommodations, and airport facilities, to handle crowds and tourists effectively to aid in establishing vertical transportation services to support the elevator and escalator market growth.

Among the significant projects that come in line with Qatar National Vision (QNV) 2030 are the Qatar Integrated Rail, which includes an urban metro and high-speed passenger and freight railway system amounting to $40bn (QR145.64bn), and the New Port Project, a colossal $7.4bn (QR26.94bn) undertaking designed to cater to food security infrastructure and warehousing needs.

The expansion of Qatar’s Hamad International Airport also allocated a budget of $15.5bn (QR56.44bn) as part of this comprehensive effort.

In July 2023, Mannai - Microsoft Solutions, an ICT division of Mannai Trading Company WLL and a leading Microsoft Solutions provider in Qatar, announced a strategic partnership with Wizard Cyber, a global cybersecurity organisation.

Analysts remark that this partnership is a promising project to develop its services, expertise, and solutions to businesses and companies across the GCC region including Qatar, Oman, Bahrain, and Kuwait.

“The partnership also introduces a unique Sentinel CyberShield platform in Qatar’s Microsoft data center powered by Microsoft Sentinel to provide Modern SOC services,” it said.

It further outlined that the Accessible Qatar initiative by Sasol strives to enhance accessibility for people with disabilities in the country by offering accurate and instant information on the accessibility levels of public and tourist places.

This information, however, is made available through a smartphone app and a website, which features reliable data curated by experts and user reviews and ratings.

Researchers accentuated that “The goal is to empower individuals with disabilities and tourists to explore and enjoy Qatar while considering the accessibility factor confidently.”

Although the information is shared in public, the initiative fosters establishments to make necessary adjustments to ensure inclusivity. Eventually, the “Accessible Qatar” app promotes Qatar as an accessible destination for all individuals.