From 2013 to 2023, Bahrain's in-use commercial vehicle data illustrates fluctuations punctuated by significant variations. In 2023, the fleet size stood at 90,270 units. Across this period, the sector experienced peaks and troughs, with notable drops in 2015 and 2020, followed by strong recoveries in successive years. The general trend shows a resilience highlighted by a gradual increase over the decade. The year-on-year variation in 2022 and 2023 showcased a positive trend at 6.43% and 1.08% respectively. The Compound Annual Growth Rate (CAGR) over the last five years stands at 1.15%, reflecting modest but steady growth.
Looking forward, the forecast from 2024 through 2028 anticipates continuous growth with an expected CAGR of 0.87%. Market analysts should watch for emerging trends such as advancements in vehicle technology, shifts in regional economic policies, and the impact of sustainability initiatives on commercial fleet compositions. Additionally, economic recovery and infrastructure developments are likely to influence commercial vehicle demand positively.
