The Bahrain Tire Market is expecting around 5.43% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. The increasing vehicle sales in Bahrain owing to the swiftly improving economic conditions of the people and rising private vehicle ownership are driving the tire market across the country. In line with Bahrain Vision 2030, the country is undergoing rapid construction & infrastructural development projects for economic diversification, which, in turn, is propelling the demand for heavy & light commercial vehicles and positively influencing the sales of tires.
Moreover, the swift expansion of the commercial sector, i.e., displaying the development of airports, shopping malls, hotels, metro stations, etc., and the increasing population & influx of migrants & tourists in the country, are propelling the need for the construction of residential & commercial sectors, which shall further augment the demand for heavy equipment, vehicles, & tires, and, in turn, drive the market through 2027, further states the research report, “Bahrain Tire Market Analysis, 2022.”
Rise in Sales of All-Season Tires to Boost the Market through 2027
All-Season tires dominated the Bahrain Tire Market with the largest share in previous years, and the same trend is likely during 2022-27. It owes principally to the growing awareness among vehicle owners about the benefits of these tires to function effectively throughout all seasons. All-season tires eliminate the need for seasonal tire replacement as they are ideal for all road types and are available at affordable prices.
Moreover, these tires are meant for balanced vehicle performance and offering a comfortable ride with a better grip of the car to drivers. Hence, all these aspects associated with all-season tires shall further escalate their demand among vehicle owners of Bahrain and, in turn, play a crucial role in driving the market through 2027, reveals MarkNtel Advisors in their research report, "Bahrain Tire Market Analysis, 2022."
The leading players in the Bahrain Tire Market are Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Kumho, Pirelli, Sumitomo, and Toyo.
Key Questions Answered in the Research Report