Increasing construction activities and rising tourism will drive the commercial vehicles market in Qatar to grow at a CAGR (compound annual growth rate) of more than 13 per cent over the next five years, a report said.

Predominant reasons for this brisk growth are increasing construction activities coupled with increasing number of expatriates and growing tourism in the country, explained the report " Qatar Commercial Vehicles Market Forecast & Opportunities, 2020" published by TechSci Research, a global market research and consulting company.

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.

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 centre 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 Karan Chechi, research director with TechSci Research.

The report 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. It also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in the Qatar commercial vehicle industry. – TradeArabia News Service