Bahrain Tire Market

Bahrain Tire Market Market Research Report: Forecast (2022-2027)

By Type of Vehicles (Passenger Cars, Light Commercial Vehicles, Buses & Trucks, Medium & Heavy Commercial Vehicles, Off-the-Road (OTR), Two Wheelers, Three Wheelers), By Demand Type (OEM, Replacement) Read more

  • Tire
  • Mar 2022
  • 103
  • TR10205

Market Definition

The automotive industry in Bahrain prominently & directly impacts the tire industry. Hence, any fluctuations in demand for vehicles like Passenger Cars, Light Commercial Vehicles, Buses & Trucks, Medium & Heavy Commercial Vehicles, Off the Road (OTR), & Two Wheelers, among others, reflect on the growing or declining production & sales of tires in the country.

Market Insights

The Bahrain Tire Market is projected to grow at a CAGR of around 5.43% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the increasing number of large-scale projects by the government in line with Bahrain Vision 2030 for infrastructural development, which, in turn, is surging the demand for commercial vehicles & directly impacting the production & sales of robust tires. According to the International Trade Administration, some major government projects in Bahrain include the following:

  • The $4.2 billion worth Bahrain Petroleum Company (BAPCO) modernization & expansion project
  • Bahrain Metro Project costing $2 billion
  • The $3.5 billion King Hamad Causeway transportation infrastructure project
  • The Bahrain International Airport Modernization Program for $1.1 billion
  • A gas processing plant worth $355 million, among others. 
Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR(2022-27) 5.43%
Key Companies Profiled Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Kumho, Pirelli, Sumitomo, Toyo
Unit Denominations USD Million/Billion

 

Besides, the swift economic improvements and increasing inclination of people toward private ownership of vehicles are demonstrating a substantial rise in passenger car sales. As a result, it is augmenting the demand for tires in the country and stimulating the overall market growth. Moreover, with this escalation, the market is generating growth opportunities for automakers & tire manufacturers to enhance their production & distribution capacities to meet the burgeoning consumer requirements and, in turn, drive the market through 2027.

Impact of Covid-19 on the Bahrain Tire Market

The emergence of Covid-19 in 2020 had a calamitous effect on most industries across Bahrain, and the tire industry was no exception, yet, it sustained amidst the crisis. While the government imposed stringent movement restrictions & lockdowns to curb the spread of this dreadful disease, the leading players in the market witnessed several unprecedented challenges associated with the production and distribution of tires across the country.

Besides, supply chain disruptions led to the unavailability of raw materials like rubber & crude required for manufacturing tires. It caused delayed deliveries of pre-produced tires, adversely affected tire imports & exports, and substantial revenue losses for the leading market players.

However, since the economy of Bahrain relies massively on the construction sector, the government did not suspend any industrial operations associated with the same. It, in turn, augmented the demand for heavy commercial vehicles & construction vehicles and escalated the sales of their tires. As a result, the leading players in the market witnessed a hike, which, in turn, enabled the tire industry to sustain amidst the crisis.

Market Segmentation

Based on the Season:

  • All-Season
  • Summer

Amongst both, All-Season tires are projected to dominate the Bahrain Tire Market with the largest share during 2022-27. It owes principally to their capabilities to run all year round, which eliminates the need for seasonal tire changes. With benefits like flexibility, adaptability, budget-friendly, durability, & easy maintenance, all-season tires are viewed as a reliable solution in vehicles and a preferred choice among vehicle owners across Bahrain.

Moreover, the demand for all-season tires is anticipated to witness a rapid acceleration owing to growing vehicle sales in the country, which would instigate leading tire manufacturers to expand their production capacities to meet the burgeoning end-user requirements across Bahrain. Hence, manufacturers are actively producing all-season tires for all vehicle types, ranging from passenger cars to heavy vehicles & pickup trucks, which, in turn, is projecting lucrative growth opportunities for the market in the coming years.

Based on Type of Vehicles:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium & Heavy Commercial Vehicles
  • Buses & Trucks
  • Off-the-Road (OTR)
  • Two Wheelers
  • Three Wheelers

Here, Medium & Heavy Commercial Vehicles are projected to acquire the largest share in the Bahrain tire Market during the forecast period. It attributes principally to the increasing government focus on infrastructural developments in line with its Bahrain Vision 2030. Due to this, the country is undergoing rigorous construction activities associated with airports, corporate offices, malls, smart cities, etc. It, in turn, is playing a crucial role in augmenting the demand for Medium & Heavy Commercial vehicles across construction sites and positively influencing the production & sales of tires. Besides, since the country's oil sector is vast, several ongoing exploration & production activities and mining projects are also contributing to the burgeoning demand for these vehicles, thereby projecting significant growth prospects for the market during 2022-27. 

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Bahrain Tire Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Bahrain Tire Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Bahrain Tire Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Bahrain Tire Market study?

Frequently Asked Questions

A. The Bahrain Tire Market is projected to grow at a CAGR of around 5.43% during 2022-27.

A. What are the prominent factors driving and restraining the growth of the Bahrain Tire Market through 2027?

A. The accelerated development of high-performance tires & rapidly expanding tire imports & exports is an emerging trend in the Bahrain Tire Market.

A. All-Season Tires are anticipated to emerge as an area of remunerative opportunities for the leading players in the Bahrain Tire Market over the forecast years.

1.     Introduction

1.1.   Product Definition

1.2.   Research Process

1.3.   Assumptions

1.4.   Segmentation

2.     Executive Summary

3.     Experts Verbatim-What our experts say?

4.     Bahrain Tire Market Voice of Customer

4.1.   Brand Awareness

4.2.   End User Expectations

4.3.   Key Factors Impacting Vendor Selection

4.4.   Key Issues Encountered

4.5.   Vendor’s Receptiveness to Address Key Customer Issues

4.6.   Future Requirements

5.     Bahrain Tire Market Analysis, 2017- 2027

5.1.   Market Size & Analysis

5.1.1. Market Revenue

5.1.2. Units Sold

5.2.   Market Share & Analysis

5.2.1. By Type of Vehicles

5.2.1.1.  Passenger Car

5.2.1.2.  Light Commercial Vehicle

5.2.1.3.  Buses and Trucks

5.2.1.4.  Medium and Heavy Commercial Vehicles

5.2.1.5.  Off the Road (OTR)

5.2.1.6.  Two Wheelers

5.2.1.7.  Three Wheeler

5.2.2. By Demand Category

5.2.2.1.  OEM

5.2.2.2.  Replacement

5.2.3. By Type of Tire

5.2.3.1.  Radial

5.2.3.2.  Bias

5.2.4. By Sales Channel

5.2.4.1.  Dealer/Exclusive Outlets

5.2.4.2.  Online

5.2.4.3.  Others

5.2.5. By Season

5.2.5.1.  All season

5.2.5.2.  Summer

5.2.6. By Price Category

5.2.6.1.  Low (Up to USD90)

5.2.6.2.  Medium (USD91-USD140)

5.2.6.3.  High (Above USD140)

5.2.7. By Rim Diameter

5.2.7.1.  Upto 12”

5.2.7.2.  12.1” to 15”

5.2.7.3.  15.1.” to 18”

5.2.7.4.  18.1” to 20”

5.2.7.5.  20.1” to 22.5”

5.2.7.6.  22.6” to 26”

5.2.7.7.  26.1” to 35”

5.2.7.8.  35.1” to 47”

5.2.7.9.  Above 47”

5.2.8. By Region

5.2.8.1.          Central

5.2.8.2.          South

5.2.8.3.          East

5.2.8.4.          West

5.2.9. By Company

5.2.9.1.  Revenue Shares

5.2.9.2.  Strategic Factorial Indexing

5.2.9.3.  Competitor Placement in MarkNtel Quadrant

6.     Bahrain Passenger Car Tire Market Analysis, 2017- 2027

6.1.   Market Size & Analysis

6.1.1. Market Revenue

6.2.   Market Share & Analysis

6.2.1. By Type of Vehicle

6.2.1.1.  Sedan

6.2.1.2.  SUV

6.2.1.3.  Hatchbacks

6.2.1.4.  Others

6.2.2. By Demand Category

6.2.3. By Type of Tire

6.2.4. By Sales Channel

6.2.5. By Season

6.2.6. By Price Category

6.2.7. By Rim Diameter

6.2.8. By Region

7.     Bahrain Light Commercial Vehicle Tire Market, 2017-2027

7.1.   Market Size & Analysis

7.1.1. Market Revenue

7.2.   Market Share & Analysis

7.2.1. By Type of Vehicle

7.2.1.1.  Light Trucks

7.2.1.2.  Light Buses

7.2.1.3.  Pick-up Trucks and Vans

7.2.2. By Demand Category

7.2.3. By Type of Tire

7.2.4. By Sales Channel

7.2.5. By Season

7.2.6. By Price Category

7.2.7. By Rim Diameter

7.2.8. By Region

8.     Bahrain Medium Heavy Commercial Vehicle Tire Market, 2017-2027

8.1.   Market Size & Analysis

8.1.1. Market Revenue

8.2.   Market Share & Analysis

8.2.1. By Type of Vehicle

8.2.1.1.  Trucks

8.2.1.2.  Buses

8.2.2. By Demand Category

8.2.3. By Type of Tire

8.2.4. By Sales Channel

8.2.5. By Season

8.2.6. By Price Category

8.2.7. By Rim Diameter

8.2.8. By Region

9.     Bahrain Two-Wheeler Tire Market, 2017-2027

9.1.   Market Size & Analysis

9.1.1. Market Revenue

9.2.   Market Share & Analysis

9.2.1. By Type of Vehicle

9.2.1.1.  Scooters

9.2.1.2.  Mopeds

9.2.1.3.  Motorcycles

9.2.2. By Demand Category

9.2.3. By Type of Tire

9.2.4. By Sales Channel

9.2.5. By Season

9.2.6. By Price Category

9.2.7. By Rim Diameter

9.2.8. By Region

10.  Bahrain OTR Vehicle Tire Market, 2017-2027

10.1.Market Size & Analysis

10.1.1.   Market Revenue

10.2.Market Share & Analysis

10.2.1. By Type of Vehicle

10.2.1.1.   Earthmoving Equipment

10.2.1.2.   Construction and Agricultural Vehicles

10.2.1.3.   Material Handling Vehicles

10.2.2.   By Demand Category

10.2.3.   By Type of Tire

10.2.4.   By Sales Channel

10.2.5.   By Season

10.2.6.   By Price Category

10.2.7.   By Rim Diameter

10.2.8.   By Region

11.  Bahrain Three-Wheeler Vehicle Tire Market, 2017-2027

11.1.Market Size & Analysis

11.1.1.   Market Revenue

11.2.Market Share & Analysis

11.2.1. By Type of Vehicle

11.2.1.1. Passenger Carrier

11.2.1.2. Load Carrier

11.2.2. By Demand Category

11.2.3. By Type of Tire

11.2.4. By Sales Channel

11.2.5. By Season

11.2.6. By Price Category

11.2.7. By Rim Diameter

11.2.8. By Region

12.  Bahrain Tire Market Policies, Regulations, Product and Services Standards

13.  Bahrain Tire Market Trends & Insights

14.  Bahrain Tire Market Dynamics

14.1.Growth Drivers

14.2.Challenges

14.3.Impact Analysis

15.  Bahrain Tire Market Hotspot & Opportunities

16.  Bahrain Tire Market Key Strategic Imperatives for Success & Growth

17.  Bahrain Competition Outlook

17.1.  Competition Matrix

17.1.1. Product and Services Portfolio

17.1.2. Brand Specialization

17.1.3. Target Markets

17.1.4. Target End Users

17.1.5. Research & Development

17.1.6. Strategic Alliances

17.1.7. Strategic Initiatives

17.2.  Company Profiles (Business Description, Product and Services Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)

17.2.1.   Continental

17.2.2.   Bridgestone

17.2.3.   Yokohama

17.2.4.   Hankook

17.2.5.   Goodyear

17.2.6.   Michelin

17.2.7.   Kumho

17.2.8.   Pirelli

17.2.9.     Sumitomo

17.2.10.  Toyo

18.  Disclaimer

Bahrain Tire Market Segmentation