Sunday, July 21, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Banking Financial Services and Insurance The Bahrain Car Finance Market Is Witnessing A Steady Recovery From The...

The Bahrain Car Finance Market Is Witnessing A Steady Recovery From The Disruptions Induced By The Global Pandemic During The Year 2020-2021: Ken Research

Growth in Automotive Market:  Bahrain’s low import and fuel costs, conducive tax regime and high disposable incomes have also helped strengthen the automobile sector and encourage global giants like Toyota, Nissan, Mitsubishi, etc. to set up shop here and manufacture in the country. The government has also been encouraging research and development with regards to autonomous or driverless vehicles.

Chinese Domination: The demand for Chinese vehicles, especially cars is ever increasing Bahrain. The imports reached a total of $ 48 Million in 2021 & is expected to increase. The high demand can be reasoned with two factors, the innovative designs & techniques & an ever increasing confidence of local consumers in Chinese vehicles. Moreover, it can be said that people want to purchase Chinese cars because they are more reliable, with distinctive features & competitive prices. According to the country’s foreign trade statistics, Chinese motor vehicle imports in 2021 totaled 17,955,457 Bahrain dinars.

Bahrain Car Finance MarketTo Know More about this report, download a Free Sample Report

Online preference: As the global trend is tilted towards going digital, a wide range of online aggregators in Bahrain are also following the lead. These platforms collaborate with Banks, Captives, NBFCs, Fintech lenders and other peer-to-peer lending platforms to provide multiple financing options that range from personalized ­interest rates and variable terms to completely new ownership models such as shared leasing and vehicle subscriptions.

High income better purchases: With the overall increase in the income of the entire population, individuals are leaning towards better deals. Although a major portion of the population still prefers affordable cars, there has been a shift towards buying more luxury cars. This is expected to rise in the coming years due to the introduction of electric cars & other technological innovations taking place & will be beneficial for the auto finance industry in the long run.

Analysts at Ken Research in their latest publication, Bahrain Car Finance Market Outlook 2027F– Driven by government regulations & technological innovations by Ken Research observed that Bahrain car Finance Market is in a growth phase & is  expected to witness a growth rate of ~% in the upcoming years owing to increasing government initiatives & technological innovations. It is to be noted that the Bahrain Car finance market is consolidated with a few brands occupying almost half of the market with companies competing not only on the basis of product quality and promotion but also on the basis of strategic moves with the aim of capturing a larger market share.

Key segments covered

  • By type of vehicle financing
  • Used Car financing
  • New Car financing
  • By Type of car Financed
  • Hatchbacks
  • Sedan
  • SUV
  • Multipurpose Vehicle
  • By price
  • high (500,000+)
  • medium (200k-500k)
  • low (below 200K)
  • By Type of Institution
  • Banks
  • NBFC
  • Captives
  • By loan Tenure
  • 3-4 years
  • 4-5 years
  • By Mode of booking
  • Online
  • Offline

Time Period Captured in the Report:

  • Historical Period: FY’17- FY’22P
  • Base Year: FY’22P
  • Forecast Period: FY’22P – FY’27F

Visit this link Request for Custom Report

Key Target Audience

  • Banks and its Subsidiaries
  • NBFCs
  • Captive Finance Companies
  • Government and Institutions
  • Automobile Companies
  • Car Dealers
  • Government and Institutions
  • Existing Car Finance Companies
  • OEM Dealerships
  • New Market Entrants
  • Investors
  • Auto mobile Associations

Major Companies Covered

  • Standard chartered bank
  • Ithmaar bank
  • Al Khaleeji bank
  • Bank of Bahrain & Kuwait
  • Arab Bank
  • Al Baraka Bank

Key Topics Covered in the Report:

  • Executive Summary of Bahrain Car Finance Market
  • Market Size of Bahrain Car Finance Market
  • Market Segmentation of Bahrain Car Finance Market
  • SWOT Analysis of Bahrain Car Finance Market
  • Trends and Developments in Bahrain Car Finance Market
  • Regulatory Bodies of Bahrain Car Finance Market
  • Overview of Bahrain Car Finance Challenges and restrains
  • End User Analysis of Bahrain Car Finance Market
  • Competitive Analysis of Bahrain Car Finance Services
  • Future Outlook of Bahrain Car Finance Market
  • Covid Analysis of Bahrain Car Finance Market
  • Analyst Recommendations

For more insights on the market intelligence, refer to the link below:

Bahrain Car Finance Market

Related Reports By Ken Research:

KSA Car Finance market Outlook to 2026F

Malaysia Automotive Finance market Outlook 2026F

Singapore Auto finance market outlook 2025F

RELATED ARTICLES

The Insights and Trends of the Global Mortgage Market

The mortgage market is pivotal in the global economy, facilitating homeownership and economic growth. As a fundamental component of the real estate industry, the...

How Car Loans Market and CV Financing Market are Fueling Mobility in India?

India's transportation sector is vital to the nation's economic engine. From bustling city streets to sprawling highways, efficient movement of people and goods is...

Mastering TNEB Online Payment: Expert Tips for Efficiency and Convenience

In today's fast-paced world, where convenience and efficiency are paramount, mastering TNEB online payment can significantly streamline your monthly electricity bill payment process. With...

Most Popular

Navigating the Dynamic Landscape of the Smartphone Industry

The Smartphone industry stands at the forefront of technological innovation, shaping the way individuals communicate, work, and interact with the digital world. From cutting-edge...

US Food Allergen Testing Industry: Trends, Challenges, and Opportunities

The US Food Allergen Testing industry is a critical sector safeguarding public health by ensuring food safety and catering to the growing population with...

The Dynamics of the Coal Mining Market: Growth Drivers and Challenges

Introduction Coal mining serves as a cornerstone in fueling industries, generating electricity, and fostering economic growth worldwide. This article delves into various facets of the...

A Market Research Report on the Cosmeceuticals Industry in India

The Indian beauty landscape is witnessing a fascinating shift. Consumers are no longer just seeking products that enhance appearance; they are actively seeking solutions...