With a GDP of over $30 billion and a vehicle fleet of over 1 million units in 2015, Bahrain has emerged as one of the key tire markets in the GCC region. However, the country has been witnessing the repercussions of slump in crude oil prices, which declined from more than $ 100 per barrel levels in 2011 to sub $ 50 per barrel levels in 2015. In order to desensitize the country’s economy from the economic shocks resulting from oil price fluctuations, the Government of Bahrain has been continuously introducing various initiatives to lessen the country’s reliance on oil & gas sector. Consequently, with anticipated growth in the country’s automotive sector over the next five years, Bahrain tire market is forecast to register healthy growth over the next five years. As of 2015, there were no automobile and tire manufacturing facilities in Bahrain, and consequently, demand for tires is solely emanating from the replacement segment, and is entirely addressing through the import route.
According to “Bahrain Tire Market Forecast & Opportunities, 2021”, in 2015, the country’s tire market was dominated by the passenger car tire segment, owing to huge and expanding passenger car fleet size. As per the data published by the Organisation Internationale des Constructeurs d'Automobiles (OICA), the passenger car sales in Bahrain grew at a CAGR of over 16% during 2011-2015. Moreover, the country’s passenger car fleet grew at a CAGR of around 11% during the same period and this trend is expected to continue in the coming years. Region-wise, Capital Governorate was the largest demand generator of tires during 2011-2015, followed by Muharraq Governorate. In 2015, more than 45% of the tire demand was grabbed by Chinese tire brands, with Michelin, Bridgestone, Goodyear, Pirelli, Dunlop and Yokohama being the leading global tire brand operating in the country. “Bahrain Tire Market Forecast & Opportunities, 2021” discusses the following aspects tire market in Bahrain:
Bahrain Tire Market Size, Share & Forecast
Segmental Analysis – Passenger Car Tires, Medium and Heavy Commercial Tires, Light Commercial Vehicle Tires, OTR Tires & Two Wheeler Tires
Policy & Regulatory Landscape
Changing Market Trends & Emerging Opportunities
Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
To gain an in-depth understanding of Bahrain tire market
To identify the on-going trends and anticipated growth in the next five years
To help industry consultants, tire companies, distributors and other stakeholders align their market-centric strategies
To obtain research based business decisions and add weight to presentations and marketing material
To gain competitive knowledge of leading market players
To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interaction with tire companies and industry experts in Bahrain. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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