Press Release Description

Growth in Passenger Cars to Drive the Tire Market of Bahrain Through 2025

Bahrain is an oil-dependent economy. Also, the country is an import driven economy meeting the majority of its needs from imports. Also, the country is one of the major importers of automobiles in the GCC region. A growing number of expatriates, improving lifestyle has been surging lately the auto demand.

As of 2018, the expatriates’ population in the country had touched around 55% from around 50% in 2010. Therefore, this increase in population has been pushing for a greater need for automobiles, thus catalyzing tire sales in Bahrain.

According to the MarkNtel Advisors’ research report, Bahrain Tire Market Analysis, 2020”, tire sales in the country is expected to grow at a CAGR of 6% during 2020-25.

Import of Passenger Cars Boosts the Demand for Bahrain Tire Market

With the growth in economic activities, and ongoing diversification of the economy from an oil-driven to tourism, and education led, the country has been witnessing an influx of skilled and unskilled foreigners. These evolving demographics have been pushing car sales in the country. During 2014-18, car sales have grown at a CAGR exceeding 4.5%. The imports of passenger cars have been witnessing a plunge during 2015-2018. However, the demand for passenger cars is expected to increase in the forthcoming years owing to the rising population.

Soaring Construction Activity in the Country is Boosting the Replacement Demand for Tires

Bahrain has pioneered a Vision 2030, the country has planned to Encourage investment in selected sectors beyond the financial sector to diversify non-oil economic growth such as tourism, business services, manufacturing, and logistics. Also, numerous mega physical infrastructure projects are in pipeline. These activities are expected to propel the demand for OTR replacement tires

As the country has no production of its own, the dealers and exclusive stores have a vast network to cater to the demand of the individuals. Moreover, the only sales channel present in the country for the sales of tires is through dealers or exclusive stores. However, the online sales channel is expected to increase in the coming years as revealed by MarkNtel Advisors’ in their research report, “Bahrain Tire Market Analysis, 2020”.
According to the MarkNtel Advisors the major leading players are Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Kumho, Pirelli, Toyo and Cooper among others.

“Bahrain Tire Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for Bahrain Tire market providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.

Industry Segmentation:

1.    By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Buses and Trucks, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers, Three Wheeler)
2.    By Demand Category (OEM and Replacement)
3.    By Type of Tires (Radial and Bias)
4.    By Sales Channel (Dealer/Exclusive stores, Online, and Others)
5.    By Season (All-season and Summer)
6.    By Price Category (Low (Up to USD90), Medium (USD91-USD140), High (Above USD140))
7.    By Rim Diameter (Up to 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”)
8.    By Region (South, West, Central, East)
9.    By Company (Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Triangle, Kumho, Pirelli and Hangzhou Zhongce)

Key questions answered in the study:
1.    What are the current and future trends of the Bahrain tire market? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    What are the future plans and customer expectations of end-users across the globe? 
4.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
5.    What are the key growth drivers and challenges for the Bahrain tire market industry?
6.    What are the customer orientation, purchase behavior, and expectations from Bahrain tire suppliers across various regions?