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Passenger Car Tire Segment to Lead Qatar Tire Market through 2023: TechSci Research

Added: (Wed Jan 16 2019)

Pressbox (Press Release) - 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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"Qatar Tire Market" https://www.techsciresearch.com/report/qatar-tire-market/3406.html

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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