Qatar Tire Market Overview: 2024-2030
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-30
The Qatar Tire Market size is valued at around USD 6.5 billion in 2024 & is estimated to grow at a CAGR of around 10.5% during the forecast period, i.e., 2024-30. The high growth of the Qatar Tire Market is a virtue of increasing demand in the automobile industry across the country. Further, the all-time high disposable income of individuals, the prosperity, and the stable nature of the economy of Qatar are helping to keep the growth rate always higher for the tire industry in the country. Individuals here, owing to their high standard of living and higher GDP per capita believe in owning a personal vehicle. Owning a vehicle doesn’t only fulfill their need for movement & transportation but it also works as a status of living for them. Thus, the increase in sales of four and two-wheelers in the country is always providing the opportunity for growth of the tire manufacturing industries in the country.
Markntel Advisor’s Qatar Tire Market Insights report provides the current and forecast market analysis, individual leading companies’ market shares, challenges, Qatar Tire Market drivers, barriers, Qatar Tire Market Trends, and Key Players in Qatar Tire Market.
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Qatar Tire Market Dynamics: 2024-2030
Qatar Tire Market Driver:
High GDP Per Capita Income Driving Market Growth – Being one of the smallest countries by area in the Asia-Pacific region, Qatar is excessively developed, economically stable, and a rich country in the world with being 5th largest economy in the world by GDP per capita income. According to the Worldometer data, the GDP per capita of Qatar in 2022 was around USD 114,648 which is the highest in Arab nations and the 2nd highest in the Asia continent after Singapore, which shows the strength of the above fact. Therefore, the individual here has more disposable income, which they can spend on luxuries and their comfort. This, further allows them to buy personal vehicles, travel by cabs, etc., and help in the expansion of vehicle fleets in the country. So the large fleet of vehicles in the country is driven by a high percentage of ownership of vehicles. Also, a growing number of individuals using public or private transport, continuously adds to the growth of the tire market in the country.
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Qatar Tire Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
- By Vehicle Type
- Passenger Car-Market Size & Forecast 2019-2030F, Thousand Units
- Light Commercial Vehicle (LCV) -Market Size & Forecast 2019-2030F, Thousand Units
- Medium & Heavy Commercial Vehicle (MHCV) -Market Size & Forecast 2019-2030F, Thousand Units
- Off-the-Road Vehicle -Market Size & Forecast 2019-2030F, Thousand Units
- Two Wheeler-Market Size & Forecast 2019-2030F, Thousand Units
- By Demand Type
- OEM-Market Size & Forecast 2019-2030F, Thousand Units
- Replacement-Market Size & Forecast 2019-2030F, Thousand Units
- By Tire Type
- Radial-Market Size & Forecast 2019-2030F, Thousand Units
- Bias-Market Size & Forecast 2019-2030F, Thousand Units
- By Sales Channel
- Online-Market Size & Forecast 2019-2030F, Thousand Units
- Direct Sales-Market Size & Forecast 2019-2030F, Thousand Units
- Multi Brand Stores-Market Size & Forecast 2019-2030F, Thousand Units
- Exclusive Outlets-Market Size & Forecast 2019-2030F, Thousand Units
- By Price Category
- Budget-Market Size & Forecast 2019-2030F, Thousand Units
- Economy-Market Size & Forecast 2019-2030F, Thousand Units
- Premium-Market Size & Forecast 2019-2030F, Thousand Units
- By Tire Size
- Tire Size 1 -Market Size & Forecast 2019-2030F, Thousand Units
- Tire Size 2 -Market Size & Forecast 2019-2030F, Thousand Units
- Tire Size 3 -Market Size & Forecast 2019-2030F, Thousand Units
- Tire Size 4 -Market Size & Forecast 2019-2030F, Thousand Units
- Tire Size 5- Market Size & Forecast 2019-2030F, Thousand Units
- By Region
- Al Rayyan
- Al Khor
- Ad Dawhah
- Al Wakrah
- Rest of Qatar
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Top Companies Operating in the Qatar Tire Market:
- Bridgestone Corporation
- Yokohama Qatar
- Hankook Tire Co. Ltd.
- Pirelli Tyre (Suisse) SA Middle East Branch
- Michelin
- Continental AG
- Toyo Tire & Rubber Co., Ltd.
- Goodyear Tires
- Apollo Tyres Ltd.
- Kumho Tyres
- Others
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