Steady Treading for the Global Tire Market, Global Markets to Reach 1.81 billion units, Qatar Tire Market Revenues to Reach $42 million

FARMINGTON, Conn., March 19, 2013 /PRNewswire-iReach/ -- Between 2009 and 2011, the automotive tire industry in Qatar experienced 8.7 percent compound annual growth. Qatar is one of the most promising automobile markets after Saudi Arabia in Middle Eastern region. With increasing customer demand for high performance tire in the country, demand estimates for global tire manufacturers are emerging very strong.


The increasing automobile sales, rising per capita income and implementation of strict tire rules to drive the demand for quality tires in Qatar. The tire industry in Qatar is an import dependent market due to unavailability of any tire manufacturing unit in Middle Eastern region which includes Qatar.

According to a new study, "Qatar Tyre Market Forecast & Opportunities", the automobile retreaded tyre market in Qatar is expected to grow at CAGR of 7.41% by value to reach $42 million in revenues by 2018.

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A recently released report by Technavio Research, "Global Commercial Vehicle Tire Market 2012-2016" forecasts the global commercial vehicle tire market will reach 1.81 billion units by 2016. One of the key factors contributing to this market growth is the steady economic growth in the APAC region. The Global Commercial Vehicle Tire market has also been witnessing increasing demand for radial and tubeless tires. However, the increase in retreading of tires poses the biggest challenge in the Global Commercial Vehicle Tire market.

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Just-auto, the automotive industry's leading online resource for automotive information, insight and intelligence, has also released the latest version of the popular "Global market review of automotive tyres" report. Based on exclusive interviews, primary research and proprietary data, this global market study provides a comprehensive overview of the global automotive tyres sector, major suppliers, top 14 markets, technology trends and market size forecasts out to 2026.

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