Market Research Report - 264515
Qatar Tyre Market Forecast and Opportunities, 2020
|Published by||TechSci Research|
|Published||Content info||85 Pages|
|Qatar Tyre Market Forecast and Opportunities, 2020|
|Published: September 29, 2015||Content info: 85 Pages||
With a population of over 2.28 million in 2015, Qatar is one of the smallest countries within the Gulf Cooperation Council (GCC) in terms of population and geographical area. Despite of this fact, the country ranks first among the richest countries in the world, in terms of GDP per capita. As per OICA, Qatar's vehicle motorization rate (for passenger cars and commercial vehicles) was a whopping 424 vehicles per 1,000 people in 2013. Harsh climatic conditions in Qatar generally reduce the shelf life of tyres to about one and a half year. Moreover, due to absence of tyre production in the country, the tyre market in Qatar is import driven, with significant penetration of Chinese tyre brands due to easy availability and cost effective pricing as compared to flagship tyre brands. However, it is anticipated that the share of Chinese tyre brands in Qatar tyre market will decline during forecast period due to increasing availability of high quality tyres by flagship tyre brands, which are expected to gain popularity among consumers due to their higher life cycle.
According to "Qatar Tyre Market Forecast & Opportunities, 2020", high vehicle ownership, expanding vehicle fleet, growing automobile sales and upcoming FIFA World Cup, are expected to drive significant growth in Qatar tyre market during the forecast period. Further, rising employment, urbanization, immigration and increase in per capita GDP have allowed consumers in Qatar to readily acclimatize to new tyre technologies being offered by premium tyre brands. FIFA World Cup 2022 is expected to propel growth in the country's construction industry in the coming years, owing to which sales of OTR and commercial vehicles are also anticipated to grow rapidly during the forecast period. Consequently, OTR tyre segment is anticipated to exhibit fastest growth during the forecast period, followed by commercial vehicle tyre segment. "Qatar Tyre Market Forecast & Opportunities, 2020" elaborates on the following aspects of tyre market in Qatar:
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre companies, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.