Product Code: ETC020521 | Publication Date: Jul 2023 | Updated Date: Feb 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Increasing consumer preference towards luxurious cars coupled with rising disposable incomes is propelling demand for luxury vehicles in Qatar. This, in turn, is likely to drive sales of high-end car components such as steering & suspension parts. Also, prominent luxury car manufacturers like Mercedes-Benz and BMW offer products with advanced safety features such as anti-lock braking system (ABS) which requires heavy investment on steering & suspension systems by automakers thus creating an opportunity for market players operating in this space. In order to boost economic development across various sectors including automotive industry; Qatar government has taken numerous initiatives such as establishing free zones around Doha city where foreign companies can set up their businesses without foreign ownership restrictions or paying any corporate taxes resulting into increased investments by new entrants.
The Qatar Motor Vehicle Steering and Suspension Parts market is projected to register a CAGR of over 5% during the forecast period. The increasing demand for luxurious vehicles, rising disposable income, technological advancements in suspension parts are some of the key factors that are driving the growth of the market. Moreover, government initiatives across several industries to support investments have further created opportunities for motor vehicle steering and suspension parts manufacturers.
Steering & Suspension replacement costs depend upon complexity involved while changing these components from one model to another making them expensive than regular maintenance services associated with automobiles thereby limiting its adoption among consumers due to higher cost associated with it which may hamper revenue generation opportunities available within this vertical.
Some of the major players operating in Qatar Motor Vehicle Steering and Suspension Parts Market include Tenneco Inc., ZF Friedrichshafen AG, Autoliv Inc., thyssenkrupp AG, Magna International Inc., Benteler International AG, Aisin Seiki Co Ltd., Delphi Technologies PLC and Sogefi SPA among others. These leading players have adopted strategies including product launch, mergers & acquisitions etc.to strengthen their presence within regional markets.
Due to the Covid-19 pandemic, there has been a significant impact on the Qatar motor vehicle steering and suspension parts market. Global supply chain disruptions, labor shortages, and decreased consumer spending have all affected this market negatively. The demand for these parts has dropped significantly since the start of the pandemic as car production and sales have declined worldwide. Additionally, many aftermarket suppliers are facing inventory management issues due to limited access to raw materials from other countries. As a result of these factors, prices for these products have increased in some cases while availability is much lower than before the pandemic began. Despite this, manufacturers remain optimistic that demand will eventually return when normalcy resumes across different markets around the world.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Qatar Motor Vehicle Steering and Suspension Parts Market Overview |
3.1 Qatar Country Macro Economic Indicators |
3.2 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume, 2021 & 2031F |
3.3 Qatar Motor Vehicle Steering and Suspension Parts Market - Industry Life Cycle |
3.4 Qatar Motor Vehicle Steering and Suspension Parts Market - Porter's Five Forces |
3.5 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume Share, By Types, 2021 & 2031F |
3.6 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Qatar Motor Vehicle Steering and Suspension Parts Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Qatar Motor Vehicle Steering and Suspension Parts Market Trends |
6 Qatar Motor Vehicle Steering and Suspension Parts Market, By Types |
6.1 Qatar Motor Vehicle Steering and Suspension Parts Market, By Types |
6.1.1 Overview and Analysis |
6.1.2 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume, By Types, 2021-2031F |
6.1.3 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume, By Steering Components, 2021-2031F |
6.1.4 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume, By Suspension Components, 2021-2031F |
6.2 Qatar Motor Vehicle Steering and Suspension Parts Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume, By Commercial Vehicle, 2021-2031F |
6.2.3 Qatar Motor Vehicle Steering and Suspension Parts Market Revenues & Volume, By Passenger Car, 2021-2031F |
7 Qatar Motor Vehicle Steering and Suspension Parts Market Import-Export Trade Statistics |
7.1 Qatar Motor Vehicle Steering and Suspension Parts Market Export to Major Countries |
7.2 Qatar Motor Vehicle Steering and Suspension Parts Market Imports from Major Countries |
8 Qatar Motor Vehicle Steering and Suspension Parts Market Key Performance Indicators |
9 Qatar Motor Vehicle Steering and Suspension Parts Market - Opportunity Assessment |
9.1 Qatar Motor Vehicle Steering and Suspension Parts Market Opportunity Assessment, By Types, 2021 & 2031F |
9.2 Qatar Motor Vehicle Steering and Suspension Parts Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Qatar Motor Vehicle Steering and Suspension Parts Market - Competitive Landscape |
10.1 Qatar Motor Vehicle Steering and Suspension Parts Market Revenue Share, By Companies, 2024 |
10.2 Qatar Motor Vehicle Steering and Suspension Parts Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |