Qatar: Freight and logistics market size to surpass $10bln this year
Doha, Qatar: Qatar is rapidly emerging as a vital player in global freight and logistics, with an impressive market forecast that shows the country's strategic growth trajectory.
Qatar's freight and logistics market size is estimated to reach $10.14bn in 2025 and grow to $13.49bn by 2030, stated Mordor Intelligence in its recent report. The logistics sector is expanding at a compound annual growth rate (CAGR) of 5.89 percent
Experts note that this growth is a reflection of both the country's robust infrastructure investments and its position at the crossroads of Asia, Africa, and Europe, allowing it to act as a pivotal global logistics hub.
Qatar's strategic position plays a pivotal role in its transformation. Located at the crossroads of major trade routes, the country links the East and West, facilitating the efficient and quick movement of goods. Aware of this advantage, the Qatari government has made substantial investments in upgrading the nation's infrastructure, particularly in roads and transport networks. Among the standout initiatives is the $19.59bn project in Al Ebb and Leabaib, which includes the construction of a 39-kilometer road network and 87 kilometers of illuminated pedestrian and cycling lanes. These improvements not only enhance road safety but also ensure smoother, faster transportation across the country, reinforcing Qatar's position as a key logistics hub.
A crucial aspect of Qatar's infrastructure growth is its fuel pricing policy. QatarEnergy, the state-owned oil company, has set the fuel prices for May 2024, with premium petrol staying at QR1.95 ($0.53) per liter, super petrol at QR2.10 ($0.57), and diesel at QR2.05 ($0.55) per liter.
Since September 2017, these prices have been linked to the international market, reflecting Qatar's evolving energy strategies. The stability in fuel prices is crucial for the logistics and transport industries, offering predictability in costs for businesses that depend on transportation for their operations.
Despite global shifts in energy demand and fluctuating prices, Qatar has made bold moves to further expand its energy dominance. The country plans to significantly increase its liquefied natural gas (LNG) production, with an emphasis on reclaiming market share from the US.
This expansion is centered around the North Field, the world's largest natural gas field. With production from the western part of the field expected to begin by 2025 or 2026, Qatar aims to nearly double its production capacity from 77 million tonnes annually to 142 million tonnes by 2030. This will not only support Qatar's energy dominance but also fuel its logistics and export sectors, making it even more competitive on the global stage.
A key milestone in Qatar's growing logistics and maritime sector came with the hosting of the Seatrade Maritime Qatar Conference and Exhibition.
This event highlighted the expansion of Qatar's ports and maritime infrastructure, showcasing the country's increasing significance as a regional and global shipping hub.
The conference also facilitated the exchange of expertise between local and international industry leaders, helping Qatar develop sustainable maritime and logistics strategies. As the maritime sector grows, so does Qatar's commitment to contributing to the global economy through the promotion of sustainable development goals.
In the years leading up to 2030, Qatar's investment in infrastructure, energy, and logistics will only accelerate its economic growth. By continuously improving its transport networks, fueling its energy sector, and hosting global maritime events, Qatar is set to become an even more prominent force in global logistics, ready to meet the demands of a rapidly changing world. The future looks promising for Qatar as it secures its position as an economic powerhouse in the Middle East.
© Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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