Qatar Freight And Logistics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2029)

Qatar Freight And Logistics Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2029)
The Qatar Freight And Logistics Market is projected to register a CAGR of 5.45% Key HighlightsRoad is the Fastest-growing Mode Of Transport: Road transport is the fastest-growing segment by mode of transport in Qatar, driven by the country's growing e-commerce and automotive sectors and upcoming infrastructure projects.Domestic is the Largest Destination Type: The domestic segment is the largest segment by destination type, supported by the wholesale and retail trade end-user segment, which accounted for a share of 61.7% in 2022.Wholesale and Retail Trade is the Largest End User: The wholesale and retail trade is the largest end-user segment, boosted by the retail business in Qatar, which experienced unprecedented growth over the past ten years.Non-Temperature Controlled is the Largest Temperature Control: The non-temperature-controlled segment recorded a higher revenue contribution during the review period. However, its percentage share fell from 93.57% in 2017 to 92.68% in 2021.Temperature Controlled is the Fastest-growing Temperature Control: The temperature-controlled segment is boosted by growing demand for temperature-sensitive products such as pharmaceuticals and frozen food products such as meat.Qatar Freight And Logistics Market TrendsGradual economic recovery post covid-19 since 2021 As one of the largest liquefied nitrogen gas (LNG) suppliers globally, the country has supported the growth of the logistics market. The market's growth can be attributed to new expansion plans as the country hosts the 2022 FIFA World Cup. The market is expected to be driven by expanding industrial activities, growing e-commerce and automotive sectors, upcoming infrastructure in the country, and continuous investments by the government to develop logistics infrastructure. In 2020, the transportation and storage sector had a GDP share contribution of around 4.1%, the highest from 2017-2022. The share contribution has reduced to 3% as of 2022. After the COVID-19 pandemic-induced lockdown, imports from neighboring countries stopped, and Qatar shifted its focus toward European and Asian countries to meet the import demand. Hence, its logistics sector grew despite the lockdown. However, the annual rate of change in vehicle sales in Qatar in 2020 decreased by approximately 19%. The annual growth rate of vehicle sales in 2013 was about 9.2%. The progressive plans of the Qatari government to develop the country into a new logistical and regional center have supported the growth of the country's logistics market during review period. In addition to building stadiums specifically to host World Cup matches, Qatar has been investing in modernizing its infrastructure. The goal of the country is to become a transport hub for a significant portion of the world. The country's top priorities are the development of airports, as well as a more extensive metropolitan network, along with upgraded roadways and emerging cities. In Qatar, World Cup-related infrastructure projects are currently valued at USD 300 billion. Qatar Freight And Logistics Industry Overview The Qatar Freight And Logistics Market is fragmented, with the top five companies occupying 11.25%. The major players in this market are Gulf Agency Company (GAC), Gulf Warehousing Company, Milaha Group, Nakilat Agency Company (NAC) - Nakilat and Qatar Airways Cargo (sorted alphabetically).Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support