The Motor Vehicles Parts and Accessories market in Bahrain saw a steady increase in value from 2013 to 2019, indicating robust growth. However, 2020 marked a significant decline of -14.22%, likely attributed to the global pandemic. The market quickly rebounded in 2021 with an 18.1% increase, continuing its upward trend with an 8.44% increase in 2022 and a modest 2.87% increase in 2023. The year-on-year variations generally demonstrate a positive trend, although there are periods of slow growth and decline.
The average variation per year over the last 5 years, indicated by a CAGR of 2.49%, shows moderate and stable growth. As of 2023, the market value stands at 343.14 million US dollars.
Future Trends to Watch For:
- Technological advancements in vehicle parts and accessories.
- Increasing consumer preference for electric and hybrid vehicles.
- Potential supply chain disruptions.
- Government policies promoting sustainable transportation.
- Fluctuations in global economic conditions.
| # | 45 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 235,410,000,000 | 2023 | +4.39% | +0.72% | View data |
| 2 | 2 Germany | 156,470,000,000 | 2023 | +1.79% | +1.62% | View data |
| 3 | 3 Japan | 115,890,000,000 | 2023 | -1.84% | -2.75% | View data |
| 4 | 4 France | 74,756,000,000 | 2023 | +0.83% | -0.36% | View data |
| 5 | 5 United Kingdom | 66,161,000,000 | 2023 | +0.35% | -0.9% | View data |
| 33 | 33 Estonia | 396,000,000 | 2023 | +1.54% | +3.24% | View data |
| 34 | 34 Jordan | 365,570,000 | 2023 | +3.48% | +3.88% | View data |
| 35 | 35 Bahrain | 343,140,000 | 2023 | +2.87% | +2.49% | |
| 36 | 36 El Salvador | 287,340,000 | 2023 | +3.13% | +4.24% | View data |
| 37 | 37 Honduras | 231,510,000 | 2023 | +3.19% | +2.56% | View data |
