Trucks - Bahrain | Statista Market Forecast

In Bahrain, the Trucks market is anticipated to witness a growth.
By the year 2024, it is projected that unit sales in this market will reach a total of 2.89k vehicles.
Looking ahead, there is an expected annual growth rate (CAGR 2024-2030) of 3.18%, which will result in a market volume of 3.49k vehicles by 2030.
This signifies the potential for further expansion and development within the Trucks market.
Furthermore, the production within the Trucks market is also estimated to increase significantly.
By 2030, it is anticipated that the production will reach 0.00, providing a clear indication of the market's growth potential.
On a global scale, it is interesting to note that the majority of sales in the Trucks market are projected to be China.
In the year 2024, China is expected to account for a significant portion of the market with sales reaching a staggering 3.74m vehicles.
This highlights the importance of China as a key player in the global Trucks market.
Bahrain's commercial truck market is witnessing a surge in demand due to the country's thriving logistics sector.

Definition

The Trucks market encompasses a diverse array of vehicles primarily intended for the transportation of goods and materials on a larger scale. These robust and specialized vehicles are engineered for commercial purposes, playing a pivotal role in industries such as logistics, construction, and heavy-duty transportation. Trucks come in various configurations that cater to specific cargo and operational requirements, ranging from light-duty delivery trucks to heavy-duty long-haul trucks with a GVWR of 16 tons or more.

Additional Information

The Trucks market is a dynamic sector characterized by a wide range of vehicle types and applications. Manufacturers continually innovate to improve performance, efficiency, and safety. This market is heavily influenced by factors such as government regulations, emissions standards, and evolving industry needs, which drive advancements in areas like fuel efficiency and alternative propulsion technologies.

Key players in the Trucks market include globally renowned companies such as Daimler Trucks, Volvo Group, PACCAR Inc., and Scania. These manufacturers play a crucial role in shaping the industry by introducing new technologies, improving fuel efficiency, and ensuring compliance with evolving environmental regulations. This market is highly competitive, driving continuous innovation and advancements in truck design and functionality.

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Tanker trucks
Refrigerated trucks
Large delivery trucks
Freight trucks
Flatbed trucks
Construction trucks

Watercraft, aircraft, and railway vehicles
Medium and heavy buses and coaches
Motorcycles and scooters
Light commercial vehicles (LCVs)
Consumer and recreational vehicles
Passenger cars
Off-road and specialized vehicles

The Trucks market in Bahrain has experienced significant growth in recent years, driven by a combination of customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Bahrain have played a crucial role in shaping the development of the Trucks market.

The demand for trucks has been driven by the need for efficient transportation of goods and materials, particularly in the construction and logistics sectors. Customers in Bahrain value trucks that offer reliability, durability, and fuel efficiency, as well as advanced features and technologies that enhance safety and productivity. In terms of market trends, there has been a growing preference for trucks with larger cargo capacities and higher load-bearing capabilities.

This trend is driven by the need to transport larger quantities of goods and materials in a single trip, thereby improving operational efficiency and reducing costs. Additionally, there has been a shift towards the adoption of electric and hybrid trucks, as customers in Bahrain increasingly prioritize sustainability and environmental responsibility. Local special circumstances in Bahrain have also contributed to the development of the Trucks market.

The country's strategic location as a regional trade hub has led to a surge in demand for trucks to facilitate the movement of goods between Bahrain and neighboring countries. Furthermore, Bahrain's focus on infrastructure development, including the construction of new roads, ports, and logistics facilities, has created a favorable environment for the growth of the Trucks market. Underlying macroeconomic factors have played a significant role in driving the growth of the Trucks market in Bahrain.

The country's strong economic growth, fueled by sectors such as construction, manufacturing, and trade, has increased the demand for trucks to support these industries. Additionally, favorable government policies and initiatives, such as tax incentives and subsidies for the purchase of trucks, have further stimulated market growth. In conclusion, the Trucks market in Bahrain has experienced significant growth due to customer preferences for reliable and efficient transportation, market trends favoring larger and more sustainable trucks, local special circumstances such as Bahrain's trade hub status and infrastructure development, and underlying macroeconomic factors including strong economic growth and government support.

These factors have combined to create a thriving market for trucks in Bahrain.

Data coverage:

The data encompasses B2B enterprises. Figures are based on unit sales and production of trucks.

Modeling approach:

Market sizes are determined through a combined Top-Down and bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey). In addition, we use relevant key market indicators and data from country-specific associations, such as consumer spending per capita on transportation and consumer price index for purchase of vehicles. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, linear regression, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Mobility market, in a PDF format.

The trucking industry in Canada refers to companies which are engaged in the transport of goods via truck. This includes both organizations who own and operate a private truck fleet to transport goods they produce themselves, as well as for-hire carriers who are contracted to carry goods produced by a different company. In 2022, the industry generated almost 39.55 billion Canadian dollars from almost 63.7 million shipments. Both these figures are slightly lower than at the industry’s peak in 2014, when shipments of 63.8 million tons of cargo generated 38.7 billion in revenue. However, the revenue per shipment of 621.15 Canadian dollars in 2018 is higher than in 2017, when only 585.6 Canadian dollars of revenue was generated per shipment.