Passenger Car Tire Segment to Lead Qatar Tire Market through 2023
Increasing automobile fleet
coupled with rising construction and infrastructural activities due to upcoming
FIFA World Cup 2022 to boost Qatar tire market through 2023
According
to TechSci Research report “Qatar
Tire Market By Vehicle Type, By Radial Vs Bias, By Rim Size, By Price
Segment, By Sales Channel, Competition Forecast & Opportunities, 2013 - 2023”, Qatar tire market is projected to reach $ 350
million by 2023 on account of expanding vehicle fleet and sales across Qatar. Moreover,
increasing number of infrastructure and construction activities in the country,
majorly due to the upcoming major sports event, i.e., FIFA World Cup 2022, is
expected to continue boosting use of commercial and industrial construction
vehicles, which would result in rising demand for tires in the country over the
course of next five years. Additionally, anticipated growth in tourism sector
along with rising inclination towards recycling of tire is likely to positively
influence Qatar tire market in the coming years.
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72 market data Tables and Figures spread through 113 Pages and an in-depth TOC on "Qatar
Tire Market"
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In
2017, the passenger car segment dominated Qatar tire market with a majority
volume share, and the segment is anticipated to continue its dominance during the
forecast period as well on account of continuously increasing sales of passenger
cars and expanding fleet size. The country’s tire market is witnessed to be
largely concentrated in the Doha region owing to the region’s huge population
and rising industrial activity. Increasing presence of various leading tire
players such as Bridgestone Corporation, Dunlop Middle
East FZE, Yokohama Ali Bin Khalifa Al Hitmi & Co., Hankook Tire Co. Ltd.,
Pirelli Tyre (Suisse) SA Middle East Branch, and Michelin AIM FZE., among
others, is anticipated to further intensify market competition
in Qatar tire market over the course of next five years.
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“Socio-economic
development of Qatar under Nation’s ‘Vision 2023’ is propelling infrastructure
activities in the country, which would continue to fuel growth in Qatar automotive
market including the country’s tire industry in the coming years. Moreover, rising
government focus towards recycling of waste tires to promote environmental
sustainability is further likely to positively influence tire market in Qatar
during the forecast period. Furthermore, growing tourism sector would also
contribute towards boosting Qatar tire market in the coming years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Qatar Tire Market By
Vehicle Type, By Radial Vs Bias, By Rim Size, By Price Segment, By Sales Channel,
Competition Forecast & Opportunities, 2013 - 2023” has analyzed the potential of tire market
across Qatar, and provides statistics and information on market sizes, shares
and trends. The report will suffice in providing the intending clients with cutting-edge
market intelligence and help them in taking sound investment decisions.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers and key challenges faced by Qatar tire market.
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