Table of Contents
Over the past few years, Bangladesh has been emerging as another developing country in South East Asia, offering considerable growth opportunities across diverse industry segments including automotive. Several foreign investors are even eyeing Bangladesh as the next important destination over the coming years. Currently, tyre industry in Bangladesh is largely dependent on imports from other countries like India, China, Japan and Indonesia due to scarcity of raw material (natural rubber), lack of indigenous tyre production units as well as skilled labor, and prolonged political instability. However, the scenario is expected to witness a paradigm shift in the coming years as several global leading tyre companies intend to set up their manufacturing plants in the country. Ceat, for instance, has recently established its tyre manufacturing plant in Bangladesh. Besides tyre companies, many automotive players have also voiced intention to commence manufacturing operations in Bangladesh, which in turn would drive investments in tyre market as well.
According to “Bangladesh Tyre Market Forecast & Opportunities, 2020”, Bangladesh tyre market is projected to grow at around 9% CAGR until 2020 on account of rising automobile sales, increasing investments by foreign players, and government support in the form of reduction in import duties. Segment wise, two wheeler tyres dominate the market as the country’s two wheeler fleet exceeds other vehicle fleets by a significant margin. On account of largest population as well as vehicle fleet, Dhaka remains the leading geography witnessing tyre sales across Bangladesh. Despite rising automobile sales, replacement segment continues to dominate the market, holding significant majority share in tyre sales in the country. Major companies like MRF, Dunlop, CEAT, and Goodyear have been selling their tyres in the country through their exclusive distributors. “Bangladesh Tyre Market Forecast and Opportunities, 2020” discusses the following aspects related to tyre market in Bangladesh:
- Bangladesh Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tyre, Commercial Vehicle Tyre, Two Wheeler Tyre, Three Wheeler Tyre & OTR Tyre
- Policy and Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tyre market in Bangladesh
- To identify the on-going trends and anticipated growth in the coming years
- To help industry consultants, tyre manufacturing companies and other stakeholders align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre distributors and retailers. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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