Small Cars - Bahrain

Bahrain

Revenue in the Small Cars market is projected to reach US$26m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.21%, resulting in a projected market volume of US$26m by 2029.
Small Cars market unit sales are expected to reach 1.9k vehicles in 2029.
The volume weighted average price of Small Cars market in 2024 is expected to amount to US$14k.
From an international perspective it is shown that the most revenue will be generated in China (US$13,290m in 2024).

Key regions: Europe, Worldwide, China, United Kingdom, United States

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Analyst Opinion

The Small Cars market in Bahrain has been experiencing steady growth in recent years, driven by customer preferences for compact and fuel-efficient vehicles. With the increasing urbanization and rising fuel prices in the country, small cars have become a popular choice among consumers.

Customer preferences: Bahraini consumers have shown a strong preference for small cars due to their affordability and practicality. These vehicles are well-suited for navigating the congested city streets and finding parking spaces, which are often limited in urban areas. Additionally, small cars offer better fuel efficiency compared to larger vehicles, making them a cost-effective option for daily commuting.

Trends in the market: One of the key trends in the Small Cars market in Bahrain is the growing popularity of electric and hybrid vehicles. With the government's initiatives to promote sustainable transportation, there has been an increased demand for eco-friendly cars. Electric and hybrid small cars offer lower emissions and reduced fuel consumption, making them an attractive choice for environmentally-conscious consumers. Another trend in the market is the integration of advanced technology features in small cars. Automakers are incorporating features such as touchscreen infotainment systems, smartphone connectivity, and advanced safety features to enhance the driving experience. These technological advancements have been well-received by consumers in Bahrain, who are increasingly looking for convenience and connectivity in their vehicles.

Local special circumstances: Bahrain, being a small island nation, has limited space for parking and congested roads, especially in urban areas. This has contributed to the popularity of small cars, as they are easier to maneuver and park in tight spaces. Additionally, the high fuel prices in the country have made fuel efficiency a priority for consumers, further driving the demand for small cars.

Underlying macroeconomic factors: The Small Cars market in Bahrain is also influenced by macroeconomic factors such as the country's GDP growth and disposable income levels. As the economy grows and consumers have more disposable income, they are more likely to invest in purchasing a car. The affordability of small cars makes them an attractive option for many consumers, especially those in the middle-income bracket. In conclusion, the Small Cars market in Bahrain is witnessing growth due to customer preferences for compact and fuel-efficient vehicles. The increasing urbanization, rising fuel prices, and limited parking spaces in the country have contributed to the popularity of small cars. The market is also influenced by the growing demand for electric and hybrid vehicles, as well as the integration of advanced technology features in small cars. Overall, the Small Cars market in Bahrain is expected to continue its upward trajectory in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. 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, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

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. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).