BURNABY, Canada, April 22, 2015 /PRNewswire/ --
Increasing construction activities and rising tourism to drive commercial vehicles demand in Qatar over the next five years
According to a recently released TechSci Research report, "Qatar Commercial Vehicles Market Forecast & Opportunities, 2020", the commercial vehicle market in Qatar is forecast to grow at a CAGR of more than 13% during 2015-20. Predominant reasons for this brisk growth are increasing construction activities coupled with increasing number of expatriates and growing tourism in the country. Light commercial vehicle segment is the most dominant segment amongst all the commercial vehicle segments in Qatar, followed by medium-heavy commercial vehicles and buses.
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Rising number of development projects coupled with growing building and construction activities is anticipated to drive the demand for medium and heavy commercial vehicles over the next few years. Moreover, hosting of FIFA World Cup-2022 by Qatar is also expected to fuel the need for sustainable infrastructure for accommodating large number of incoming tourists and sports enthusiasts in the country. Toyota is the leading commercial vehicle seller in the country with majority of its sales comprising light commercial vehicles. Other prominent commercial vehicle manufacturers include Nissan, Mitsubishi Fuso Truck & Bus Corporation, Mercedes Benz, MAN and Hyundai. Doha, being the capital of the country as well as economic, commercial and cultural center of Qatar, accounts for the highest share of commercial vehicle sales in the country.
"Light commercial vehicle segment is forecast to continue its dominance in the market in the coming years. However, the sales of medium-heavy commercial vehicles are anticipated to exhibit the highest growth rate amongst all the segments of commercial vehicles.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Qatar Commercial Vehicle Market Forecast & Opportunities, 2020" has evaluated the future growth potential of Qatar commercial vehicle market and provides statistics and information on market structure, exports, imports and future growth of Qatar commercial vehicle market. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the Qatar commercial vehicle industry.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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