NEW YORK, July 13, 2016 /PRNewswire/ --
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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"Qatar Passenger Car Aftermarket Components Market"
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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