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.

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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:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/bahrain-car-rental-market-outlook-to-2027/596252-100.html

Related Reports by Ken Research:-

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/netherlands-car-rental-market-outlook-to-2027/596185-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/italy-car-rental-market-outlook-to-2027/596217-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/automotive-and-automotive-components/japan-car-rental-market-outlook-to-2027/596215-100.html

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.