Qatar Passenger Car Aftermarket Components Market to Cross $ 195 Million by 2021
Growing passenger car sales
and shortening replacement period of passenger car components to drive Qatar
passenger car aftermarket components market
According
to TechSci Research report, “Qatar Passenger Car Aftermarket
Components Market
By Component, Competition Forecast and Opportunities, 2011 – 2021”, the country’s
passenger car aftermarket components market is projected to reach $ 195 million
by 2021, on account of expanding passenger car fleet size in the country and introduction
of new passenger car models. As per Organisation Internationale des
Constructeurs d'Automobiles (OICA), motorization rate (includes passenger cars
and commercial vehicles) in Qatar increased from 432 per 1,000 inhabitants in
2014 to 452 per 1,000 inhabitants in 2015. Increasing government focus on
promoting tourism in the country is projected to further drive passenger car
sales in the country, which would further augment demand for passenger car
aftermarket components in the country through 2021. Increasing domestic demand
for passenger cars can be attributed to rising number of nuclear families and
expatriates in the country, thereby aiding growth in demand for passenger car
components from the aftermarket segment in Qatar.
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Passenger Car Aftermarket Components Market"
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Qatar emerged as one of the prominent markets for passenger car
aftermarket components among the GCC nations. Due to lack of domestic
manufacturing in Qatar, demand for passenger cars components is solely addressed
through imports. In 2015, United States based
AC Delco and Germany based Bosch were the largest players in the country’s passenger
car aftermarket components market. Due to their strong market presence and high
brand acceptance among customers, these companies are expected to continue
their market dominance in Qatar through 2021.
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“Rising demand for passenger cars aftermarket components in the country
can be attributed to expanding passenger
car fleet size and hot climatic conditions that affects lifespan of
passenger car batteries, thereby resulting in early replacement. High
temperature and flat plains in the country result in more wear and tear of auto
components. Consistent rise in passenger car sales over the years has buoyed
healthy growth in replacement demand for automotive components in Qatar, and
this trend is expected to prevail over the next five years.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Qatar
Passenger Car Aftermarket Components Market By Component, Competition Forecast
and Opportunities, 2011 – 2021” has
analyzed the potential of Qatar passenger car aftermarket components market,
and provides statistics and information on market size, 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 the industry.
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