Consumer preference to use private vehicle over public vehicle due to cases of Coronavirus has given impetus to Car Rental Market in Bahrain: Ken Research
Focus on Embracing Digitization, Growing Tourism, New Government Initiatives and Entry of Online portals in the market are major factors contributing towards development of Car Rental Market in Bahrain.
COVID Affected Market Growth: Due to the impact of COVID-19, there has been a substantial decrease in new car sales. In 2020, the market became very distorted that car renting prices became comparable with the cost of brand-new vehicles. Supply and stock problems coupled with high prices are pushing the customers towards the car rental in Bahrain.
Public health concern faced by Bahrain Car Rental Market: Road traffic accidents are becoming a major public health concern, with citizens urging people to pay more attention when driving. As the Kingdom of Bahrain has seen a massive growth in population, there has been a remarkable increase in the number of vehicles and expansion of road networks, according to the World Health Organization (WHO). Additionally, the influx of people on the roads has increased the number of road accidents, injuries, and fatalities. Many of these accidents, injuries, and fatalities could be avoided by people not using their phones whilst driving, paying more attention, and not speeding.
Stringent Government Regulations: Bahrain is affected by a number of short-term restrictions and measures being implemented by the government. As a result of these measures, there has been a decrease in rental volume, but still well positioned relative to most Arabic countries when compared to other countries. Laws such as heavy fines (from BHD50 to BHD500) and prison terms of up to six months for using a mobile phone whilst driving have been enacted in Bahrain, yet people continuously do not stop. No phone call or text is worth causing a major accident which can lead to a fatality or serious injury.
Analysts at Ken Research in their latest publication “Bahrain Car Rental Market Outlook to 2027F- Driven by Type of Market Structure (Organized and Unorganized), by Type of Car (Sedan, Hatchback, SUV, Van, Crossover, Others), By Booking Type (Online booking, Offline booking), By End User Type (Self-driven, Chauffeur) and By Vehicle Type (Economy cars, Luxury cars)”by Ken Research observed that Car rental market is an emerging automotive market in Bahrain at a rebounding stage from the economic crisis after pandemic. The rising government policies and demand for car rental industry, with rising tourism in Bahrain is expected to contribute to the market growth over the forecast period. The market is expected to grow at ~% CAGR during 2021-2026F owing to the factors mentioned above.
Key Segments Covered in the report:-
Bahrain Car Rental Market
By Type of Market Structure
Organized Channel
Unorganized Channel
By Type Of Car
Sedan
Hatchback
SUV
Van
Crossover
Others
By Booking type
Online booking
Offline booking
By End User Type
Self-driven
Chauffeur
By Vehicle Type
Economy cars
Luxury cars
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Key Target Audience
Car Rental Dealers
Car Rental Equipment Manufacturers and Distributors
Auto Portals
Online Dealers
Car Booking offices
Unauthorized Dealers
Market Research and Consulting Firms
Automotive Companies
Car Renting Companies
Tourism Agencies
Government Bodies & Regulating Authorities
Time Period Captured in the Report:-
Historical Period: 2017-2022P
Base Period: 2022P
Forecast Period: 2022P-2027F
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Companies Covered:-
Leading companies
Montreal Motors Co.
SPC
National Car Rental Bahrain
Kanoo Daily Rental
Hanco
Avis Corporation Regency
Rent- A- Car
Fast Rent A Car
City Car
Budget Bahrain
Sixt SE
Al Sayer
Europcar
Key Topics Covered in the Report:-
Executive Summary
Overview for Vehicle Renting Industry in Bahrain
Ecosystem for Bahrain Vehicle Renting Market
Value Chain Analysis for Bahrain Vehicle Renting Market
Market Size of Bahrain Vehicle Renting Industry
Market size for Bahrain Vehicle Renting Industry on the basis of Value and Number of Fleet, 2017-2022
Bahrain Vehicle Renting Industry Segmentation, 2022
Porter’s Five Forces Analysis of Bahrain Vehicle Renting Market
Growth Enablers in Bahrain Vehicle Renting Market
Trends and Developments in Bahrain Vehicle Renting Market
Issues and Challenges in Bahrain Vehicle Renting Market
Government Regulations and Initiatives
End-User Analysis in Bahrain Vehicle Renting Industry, 2022
Cross Comparison between different End Users
Competitive Landscape in Bahrain Vehicle Renting Industry
Marketing Strategies by some Vehicle Renting Companies
Future Outlook and Projections of the Bahrain Vehicle Renting Industry, 2022-2027F
Analyst Recommendations
Industry Speaks
Research Methodology
For more insights on the market intelligence, refer to below link:-
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