Bahrain Tire Market - By Vehicle Type (Passenger Car, Two Wheeler, Medium & Heavy Commercial Vehicle, Light Commercial Vehicle, Off the Road (OTR) Vehicle, and Three Wheeler); By Tire Type (Radial (Tube, Tubeless), Bias); By Demand Category (OEM, Replacem
Description
Bahrain Tire Market - By Vehicle Type (Passenger Car, Two Wheeler, Medium & Heavy Commercial Vehicle, Light Commercial Vehicle, Off the Road (OTR) Vehicle, and Three Wheeler); By Tire Type (Radial (Tube, Tubeless), Bias); By Demand Category (OEM, Replacement), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Bahrain Tire Market Size Grows Steadily to Touch 1.4 billion by 2029
Bahrain tire market is flourishing owing to increasing sales of automobiles, spurring demand for tire replacement, and rapid adoption of advancements in tire technology.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Bahrain tire market size at USD 886.4 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Bahrain tire market size to grow at a significant CAGR of 6.36% reaching a value of USD 1,352.8 million by 2029. Rising sales of passenger, luxury, and electric vehicles (EVs) as a result of rapid urbanization and rising consumer spending power are one of the key factors driving the demand for tires in Bahrain. The increasing emphasis on driver and passenger safety to reduce fatal traffic accidents is fueling the demand for premium quality tires with a longer operational life, improved stability and reliability, and high puncture resistance. Airless, lightweight, and three-dimensional (3D) printed variants are being introduced by major players. They are working hard to recover and recycle old tires to reduce their negative environmental impact and save a significant amount of energy required to manufacture new ones.
Qatar Tire Market – Overview
A tire surrounds the rim of the wheel to transfer the weight of a vehicle from the axle through the wheel to the ground and to provide traction on the surface the wheel travels over. Most tires, including those for automobiles and bicycles, are pneumatically inflated and also provide a flexible cushion to absorb shock as the tire travels over irregular surfaces. Applying a bearing pressure that will not cause the surface to deform excessively allows the contact patch, the footprint that tires provide, to be made to match the weight of the vehicle with the bearing capacity of the surface it rolls over.
Opportunity: Construction industry expansion spurring demand for vehicles & tires
The government's increased focus on infrastructure improvements, which has led to quickly accelerating construction projects and rising sales of medium and heavy commercial vehicles, is the main factor boosting tire demand in Bahrain. The major players expect profitable growth opportunities to increase their import and distribution capacities to meet the nation's rising demand for tires in the upcoming years.
Challenge: Strict regulations on carbon emissions and fluctuating raw material prices
The primary factors that may restrict the extensive use of rubber in tire production and, consequently, the expansion of the tire market are mounting concerns over carbon emissions and onerous government regulations designed to cut them. Another significant factor that is likely to restrict the market's growth in the upcoming years is the fluctuating price of raw materials, which has an effect on the overall cost of producing tires and makes it challenging for tire manufacturers to set a fixed price.
Impact of COVID-19 on Bahrain Tire Market
The decelerating effects of the Covid-19 pandemic in Bahrain in 2020 had an impact on both the automotive and tire industries in diverse ways. Even though the government imposed strict movement restrictions and frequent lockdowns to stop the spread of this terrible disease, the top market players faced several first-time challenges, particularly regarding the production, importation, and distribution of tires throughout the country. Several significant issues hampered market growth, including project cancellations, supply chain disruptions that resulted in a lack of raw materials, and delays in the delivery of previously produced goods.
Bahrain Tire Market – By Tire Type
Bahrain tire market is segmented into Radial (Tube and Tubeless), and Bias tires. In terms of market share, the radial segment holds a sizable share of the Bahrain tire market. Tubeless tires, which are part of the radial segment, are typically found on motorcycles because of their low rolling resistance and slow rate of deflation. As tube tires consume more fuel than tubeless tires, the demand for tubeless tires is expected to rise throughout Bahrain.
Competitive Landscape
Bahrain tire market is fiercely competitive. Major companies in the market include Bridgestone, Michelin, Goodyear, Continental, Pirelli, Pirelli, Continental, Dunlop, Yokohama, BF Goodrich, Cooper Tire, and Firestone. The companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Bahrain tire market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Bahrain Tire Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Bahrain Tire Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Bahrain Tire Market Size Grows Steadily to Touch 1.4 billion by 2029
Bahrain tire market is flourishing owing to increasing sales of automobiles, spurring demand for tire replacement, and rapid adoption of advancements in tire technology.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Bahrain tire market size at USD 886.4 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Bahrain tire market size to grow at a significant CAGR of 6.36% reaching a value of USD 1,352.8 million by 2029. Rising sales of passenger, luxury, and electric vehicles (EVs) as a result of rapid urbanization and rising consumer spending power are one of the key factors driving the demand for tires in Bahrain. The increasing emphasis on driver and passenger safety to reduce fatal traffic accidents is fueling the demand for premium quality tires with a longer operational life, improved stability and reliability, and high puncture resistance. Airless, lightweight, and three-dimensional (3D) printed variants are being introduced by major players. They are working hard to recover and recycle old tires to reduce their negative environmental impact and save a significant amount of energy required to manufacture new ones.
Qatar Tire Market – Overview
A tire surrounds the rim of the wheel to transfer the weight of a vehicle from the axle through the wheel to the ground and to provide traction on the surface the wheel travels over. Most tires, including those for automobiles and bicycles, are pneumatically inflated and also provide a flexible cushion to absorb shock as the tire travels over irregular surfaces. Applying a bearing pressure that will not cause the surface to deform excessively allows the contact patch, the footprint that tires provide, to be made to match the weight of the vehicle with the bearing capacity of the surface it rolls over.
Opportunity: Construction industry expansion spurring demand for vehicles & tires
The government's increased focus on infrastructure improvements, which has led to quickly accelerating construction projects and rising sales of medium and heavy commercial vehicles, is the main factor boosting tire demand in Bahrain. The major players expect profitable growth opportunities to increase their import and distribution capacities to meet the nation's rising demand for tires in the upcoming years.
Challenge: Strict regulations on carbon emissions and fluctuating raw material prices
The primary factors that may restrict the extensive use of rubber in tire production and, consequently, the expansion of the tire market are mounting concerns over carbon emissions and onerous government regulations designed to cut them. Another significant factor that is likely to restrict the market's growth in the upcoming years is the fluctuating price of raw materials, which has an effect on the overall cost of producing tires and makes it challenging for tire manufacturers to set a fixed price.
Impact of COVID-19 on Bahrain Tire Market
The decelerating effects of the Covid-19 pandemic in Bahrain in 2020 had an impact on both the automotive and tire industries in diverse ways. Even though the government imposed strict movement restrictions and frequent lockdowns to stop the spread of this terrible disease, the top market players faced several first-time challenges, particularly regarding the production, importation, and distribution of tires throughout the country. Several significant issues hampered market growth, including project cancellations, supply chain disruptions that resulted in a lack of raw materials, and delays in the delivery of previously produced goods.
Bahrain Tire Market – By Tire Type
Bahrain tire market is segmented into Radial (Tube and Tubeless), and Bias tires. In terms of market share, the radial segment holds a sizable share of the Bahrain tire market. Tubeless tires, which are part of the radial segment, are typically found on motorcycles because of their low rolling resistance and slow rate of deflation. As tube tires consume more fuel than tubeless tires, the demand for tubeless tires is expected to rise throughout Bahrain.
Competitive Landscape
Bahrain tire market is fiercely competitive. Major companies in the market include Bridgestone, Michelin, Goodyear, Continental, Pirelli, Pirelli, Continental, Dunlop, Yokohama, BF Goodrich, Cooper Tire, and Firestone. The companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Bahrain tire market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Bahrain Tire Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Bahrain Tire Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
140 Pages
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Bahrain Tire Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Surging demand for tires in replacement market
- 3.2.1.2. Increasing disposable income
- 3.2.1.3. Improving country’s economy
- 3.2.2. Restraints
- 3.2.2.1. Decline in production and delivery amid COVID-19
- 3.2.3. Opportunities
- 3.2.3.1. Growing infrastructure developments across the country.
- 3.2.3.2. International government’s support for infrastructure projects
- 3.2.4. Challenges
- 3.2.4.1. Volatility raw material prices
- 3.3. Technology Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Bahrain Tire Market Overview
- 4.1. Market Size & Forecast, 2019–2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Vehicle Type
- 4.2.1.1. Passenger Car
- 4.2.1.2. Two-Wheeler
- 4.2.1.3. Medium & Heavy Commercial Vehicle
- 4.2.1.4. Light Commercial Vehicle
- 4.2.1.5. Off-The-Road Vehicle (OTR)
- 4.2.1.6. Three-Wheeler
- 4.2.2. By Tire Type
- 4.2.2.1. Radial
- 4.2.2.1.1. Tube
- 4.2.2.1.2. Tubeless
- 4.2.2.2. Bias
- 4.2.3. By Demand Category
- 4.2.3.1. OEM
- 4.2.3.2. Replacement
- 5. Competitive Landscape
- 5.1. List of Key Players and Their Range
- 5.2. Bahrain Tire Company Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Development (Merger, Acquisition, Partnership)
- 6. Impact of Covid-19 on Bahrain Tire Market Industry
- 7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. Bridgestone
- 7.2. Michelin
- 7.3. Goodyear
- 7.4. Pirelli
- 7.5. Continental
- 7.6. Dunlop
- 7.7. Yokohama
- 7.8. BF Goodrich
- 7.9. Cooper Tire
- 7.10. Firestone
- 7.11. Other Prominent Players
- 8. Key Strategic Recommendations
- 9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents
- 9.5. Assumption & Limitation
- *Financial information in case of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
- List of Figures
- Figure 1 Bahrain Tire Market Segmentation
- Figure 2 Bahrain Tire Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 Bahrain Tire Market Size, By Value (USD Million), 2019–2029
- Figure 5 Bahrain Tire Market Share, By Vehicle Type, By Value, 2019–2029
- Figure 6 Bahrain Tire Market Share, By Tyre Type, By Value, 2019–2029
- Figure 7 Bahrain Tire Market Share, By Demand Category, By Value, 2019–2029
- List of Tables
- Table 1 Bahrain Tire Market Size, By Vehicle Type, By Value, 2019–2029
- Table 2 Bahrain Tire Market Size, By Tyre Type, By Value, 2019–2029
- Table 3 Bahrain Tire Market Size, By Demand Category, By Value, 2019–2029
- Table 4 Bridgestone Company Overview
- Table 5 Bridgestone Financial Overview
- Table 6 Michelin Company Overview
- Table 7 Michelin Financial Overview
- Table 8 Goodyear Company Overview
- Table 9 Goodyear Financial Overview
- Table 10 Pirelli Company Overview
- Table 11 Pirelli Financial Overview
- Table 12 Continental Company Overview
- Table 13 Continental Financial Overview
- Table 14 Dunlop Company Overview
- Table 15 Dunlop Financial Overview
- Table 16 Yokohama Company Overview
- Table 17 Yokohama Financial Overview
- Table 18 BF Goodrich Company Overview
- Table 19 BF Goodrich Financial Overview
- Table 20 Cooper Tire Company Overview
- Table 21 Cooper Tire Financial Overview
- Table 22 Firestone Company Overview
- Table 23 Firestone Financial Overview
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