Bahrain Tire Market to Reach USD 1.1 billion in 2023, Stimulated by Rapid Technological Innovation
The Bahrain Tire Market size was valued at around USD 1.1 billion in 2023 & is estimated to grow at a CAGR of around 5.43% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Bahrain Tire Market
Bahrain Tire Market Trend: Eco-friendly & Sustainable Tires Gaining Traction
As environmental awareness rises, people are more inclined towards eco-friendly and sustainable options, and demand for tires that reduce emissions from the vehicle by improving fuel efficiency is increasing. These innovative green tires use advanced materials and tread designs that minimize resistance, improving fuel efficiency and reducing emissions.
Additionally, the growing popularity of electric cars that are considered environment friendly is rising, giving a rise in demand for electric vehicle-specific tires that are made to reduce wear and tear due to electric vehicles’ heavyweight from large battery packs and more torque which decreases the frequency of replacements, which reduces waste.
Moreover, tire manufacturers are adopting sustainable practices, trying to reduce emissions during the tire manufacturing process and using recycled material to reduce their impact on the environment. Thus, the increasing popularity of eco-friendly & sustainable solutions among vehicle owners is presenting a positive future business outlook for the Bahrain tire manufacturers and is anticipated to augment the growth of the industry during the forecast period.
Scope of the Report and Bahrain Tire Market Segmentation
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
- the passenger cars segment holds the largest share of the Bahrain Tire Market. This is primarily due to the rising rate of private ownership of cars.
By Demand Category
-OEM
-Replacement
By Type of Tire
-Radial
-Bias
By Sales Channel
-Dealer/Exclusive Outlets
-Online
-Others
By Season
-All season
-Summer
By Price Category
-Low (Up to USD)
-Medium (USD-USD)
-High (Above USD)
By Rim Diameter
-Upto 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”
Top leading companies in the Bahrain Tire Market includes:
Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Kumho, Pirelli, Sumitomo, Toyo and others
Bahrain Tire Market Development
- February 2024: As a major milestone in the manufacturer’s sustainability journey, all of the tires used in the Formula One World Championship this year will bear the FSC logo, making Pirelli the first company to produce a full line of FSC (Forest Stewardship Council)-certified tires for motorsport.
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Geographical analysis:
Central
South
East
West
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