Qatar Commercial Vehicles Market Forecast and Opportunities, 2020
Qatar, an oil-based economy, is one of the richest countries with GDP per capita being the highest in the world. With a population of only about 2.17 million, out of which almost 80% comprises expatriates, Qatar has the highest human development index amongst the Arab countries. With considerable demand for commercial vehicles emanating from oil as well as non-oil sectors, the commercial vehicle sales in the country have been witnessing growth over the last five years. The Government of Qatar is also increasing its focus on boosting the country’s tourism industry, which is catapulting demand for commercial buses in the country. According to the Qatar National Vision-2030, the Government of Qatar is aiming at transforming Qatar into a leading urban settlement by 2030, which would result in continuing growth in construction activities in the country, thereby propelling demand for commercial vehicles over the next decade.
According to “Qatar Commercial Vehicles Market Forecast & Opportunities, 2020”, the market for commercial vehicles in Qatar is forecast to increase at a CAGR of over 13% during 2015-20. 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. This is expected to positively influence the sales of MHCVs as well as buses in coming years. “Qatar Commercial Vehicles Market Forecast & Opportunities, 2020” discusses the following aspects about commercial vehicles market in Qatar:
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To identify the on-going trends, and anticipated growth over the next five years
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The information contained in this report is based on both primary and secondary sources. Primary research included interviews with automotive distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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1. Toyota Motors Corporation 2. Nissan Motor Co. Ltd. 3. MAN Truck And Bus AG 4. Mercedes-Benz Qatar 5. Mitsubishi Fuso Truck And Bus Corporation 6. Hyundai Motor Company 7. Tata Motors Limited 8. IVECO S.p.A. 9. Ashok Leyland Ltd. 10. AB Volvo