Ride-hailing - Bahrain | Statista Market Forecast

It is projected that the revenue for the Ride-hailing market in Bahrain will reach US$24.16m by 2024.
Moreover, the market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 4.60%, resulting in a projected market volume of US$30.25m by 2029.
The number of users in this market is anticipated to amount to 491.50k users by 2029.
In 2024, the user penetration is estimated to be 26.8% and is projected to increase to 31.5% by 2029.
The average revenue per user (ARPU) is expected to reach US$60.26.
By 2029, 100% of the total revenue for this market in Bahrain will be generated through online sales.
In comparison with other countries, China is expected to generate the highest revenue of US$60bn in 2024.
Bahrain's Ride-hailing market is dominated by Careem and Uber, with both companies offering competitive pricing and reliable service.

Definition:

The Ride-hailing market encompasses on-demand transportation services facilitated through mobile apps or online platforms. This market covers both private vehicle rides and taxi services, all booked exclusively online. It includes Transportation Network Companies (TNCs), such as Uber and Lyft, traditional taxis booked via apps, such as Free Now or Cabify, and ride-pooling services, such as Moia and Via. This market excludes peer-to-peer ride-sharing, focusing on professionally operated transport services booked digitally for efficient and convenient urban mobility. Rides of traditional taxi services hailed on the street or booked via telephone are not included in this market.

Additional Information:

The main performance indicators of the Ride-hailing market are revenues, average revenue per user (ARPU), user numbers and user penetration rates. Additionally, online and offline sales channel shares display the distribution of online and offline bookings. The ARPU refers to the average revenue one user generates per year while the revenue represents the total booking volume. Revenues are generated through both online and offline sales channels and include exclusively B2C revenues and users for the mentioned market. User numbers show only those individuals who have made a reservation, independent of the number of travelers on the booking. Each user is only counted once per year.

The booking volume includes all booked rides made by users from the selected region, regardless of where the ride took place.

For further information on the data displayed, refer to the info button right next to each box.

Platforms that let users book rides offered by drivers using their private vehicles (e.g., Uber)
Taxi companies that offer their services through an app (e.g., Free Now)
Platforms that offer shared rides (ride-pooling) with other passengers (e.g., Moia, Via)

Traditional taxi rides booked offline with taxi companies (via street-hailing or by telephone)

The Ride-hailing market in Bahrain continues to experience significant growth and development, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in Bahrain are shifting towards convenience and efficiency, with an increasing number of people opting for ride-hailing services as a preferred mode of transportation. This can be attributed to factors such as the ease of booking a ride through mobile applications, the ability to track the location of the driver in real-time, and the availability of multiple payment options. Additionally, the growing popularity of ride-hailing services can also be attributed to the increasing number of expatriates and tourists in Bahrain, who prefer the convenience and affordability of these services. Trends in the ride-hailing market in Bahrain include the emergence of local and regional players, as well as the integration of additional services into ride-hailing platforms. While international ride-hailing companies have a presence in the market, local and regional players are gaining traction by offering tailored services that cater to the specific needs and preferences of Bahraini customers. These players are also leveraging partnerships with local businesses and service providers to offer additional services such as food delivery, grocery shopping, and package delivery through their ride-hailing platforms. Local special circumstances in Bahrain, such as the small size of the country and the high population density in urban areas, contribute to the growth of the ride-hailing market. The limited availability of parking spaces and the increasing traffic congestion in major cities make ride-hailing services an attractive alternative to private car ownership. Furthermore, the government of Bahrain has been supportive of the ride-hailing industry, implementing regulations and policies that promote fair competition and ensure the safety and security of both drivers and passengers. Underlying macroeconomic factors also play a role in the development of the ride-hailing market in Bahrain. The country's strong economic growth, driven by sectors such as finance, tourism, and manufacturing, has led to an increase in disposable income and consumer spending. This, in turn, has contributed to the rising demand for ride-hailing services as consumers are willing to pay for the convenience and comfort provided by these services. In conclusion, the ride-hailing market in Bahrain is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. With the increasing popularity of ride-hailing services and the support of the government, the market is expected to continue to expand in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on bookings and revenues of ride-hailing services.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on a specific rationale for each market. As a basis for evaluating markets, we use financial reports, third-party studies and reports, federal statistical offices, industry associations, and price data. To estimate the number of users and bookings, we furthermore use data from the Statista Consumer Insigths Global survey. In addition, we use relevant key market indicators and data from country-specific associations, such as demographic data, GDP, consumer spending, internet penetration, and device usage. 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, ARIMA, which allows time series forecasts, accounting for stationarity of data and enabling short-term estimates. Additionally, simple linear regression, Holt-Winters forecast, the S-curve function and exponential trend smoothing methods are applied.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change.

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