The Qatar tire market would witness growth due to the factors such as propelling sales of passenger vehicles and construction equipment such as OTR vehicles that are anticipated to accentuate the growth of tires in recent years and is anticipated to flourish throughout 2026.
According to MarkNtel Advisors’ research report “Qatar Tire Market Analysis, 2020”, the Qatar Tire market is expected to grow at a considerable CAGR during 2021-26. Qatar is an import driven market where the Qatari population prefers passenger cars and luxurious cars such as Sedan and SUV. The population in in 2020 was around 2.8 Mn which is expected to burgeon more in coming years thereby increasing the overall demand for tires in forthcoming years.
Impact of COVID-19 on Tire Industry
The Novel Coronavirus (COVID-19) has cast a long shadow on the tire market over a much-anticipated recovery in the Qatar economy in the year 2021. COVID-19 had an adverse effect on almost all aspects of society including automotive and tire businesses. The market expected to revive in 2021 and post 2020 the tire industry would witness a major boost.
Online Sales of Tires is Witnessing a Momentous Rise
The sales of tires of online stores are witnessing an accentuated growth owing to the enlarging preference of customers for purchasing tires through online platforms along with emanating penetration of the internet in the country. Online website such as “Ubuy” and “MzadQatar” and sells tires of different brands through online medium. Another reason upcoming online sales platforms are encouraging demand for e-commerce in the country. Moreover, Multibrand stores in the country held a larger market share in 2020 and is expected to grow at a significant rate throughout 2026. The multibrand store is widely and readily available in the country to cater to every need of the individuals as revealed by the MarkNtel Advisors’ research report “Qatar Tire Market Analysis, 2020”.
“Qatar Tire Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Qatar Tire providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
According to MarkNtel Advisors’, the key players with a considerable market share in the Qatar Tire market include Bridgestone Corporation, Dunlop-Middle East, Yokohama Ali Bin Khalifa Al Hitmi & Co., Hankook Tire Co. Ltd., Pirelli Tyre (Suisse) SA Middle East Branch, Michelin AIM FZE, Continental AG, TOYO Tire & Rubber Co., Ltd., Goodyear Tires, Apollo Tyres Ltd., etc.
Key questions answered in the study: