Qatar`s Transportation market size reaches USD 9.9 Billion
03/12/23
Qatar Chamber announced the governments substantial transport sector investment has led the country to second position in the region for logistics efficiency.
Qatar's strategic location in the heart of the Middle East grants it access to key markets which, in turn values its market share at QAR 36 billion (USD 9.9 billion). Significantly, the global logistics market was valued at QAR 29.1 trillion (USD 8 trillion) in 2022 and is expected to reach around QAR 65.5 trillion (USD 18 trillion) by 2030. These figures indicate a Compound Annual Growth Rate (CAGR) of 10.7% from 2023 to 2030.
With over 2 billion residents living within the 3,000 kilometres of Qatar, the country benefits from easy access to Hamad International Airport and the globally acclaimed Hamad Port, strategically located near free zones which cater to various industries.
Moreover, Hamad Port boasts the world's deepest artificial basin and has established over 15 direct shipping lines, connecting it to 40 ports across three continents. Additionally, with an annual capacity of 7 million tonnes, the versatile facility handles 1 million tonnes of grain, substantial livestock and accommodates the shipment of 500,000 cars. As a result of its many attributes, Hamad Port attracts the world's largest shipping companies owing to its modern fleet and advanced technological systems that provide high-quality maritime services to all vessels.
In addition and also hugely contributing to Qatars transportation sector is aviation. Hamad International Airport handles more than 220 thousand flights annually, facilitating the carriage of over 35 million passengers and 2 million tons of cargo to 54 destinations worldwide. Such figures highlight Qatar's key initiatives, which fully align with the GCC regions logistics and warehousing market. As a result, when considering these incredibly promising statistics there are many potential investment opportunities for foreign investors.
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