Tax Incentives and Reforms Propel Bangladesh's Automotive Growth
September 2021|Bangladesh News
Bangladesh Automotive Industry Overview: The Automotive Market of Bangladesh is the third largest Asian market. There are few car manufacturing plants in the country, one of which are of Proton; a Malaysian indigenous car and Mitsubishi. The country also has a large market for three wheelers with one designed locally called Mishuk. Bangladesh started manufacturing motorcycles by 2000s. Walton made the first production of motorcycles in the country. Runner Automobiles was the second company to manufacture motorcycles in Bangladesh which was started in 2012. After then many other local companies got engaged in producing of motorcycles.
Bangladesh Automotive Market Growth Strategy Report
Drivers of Growth in Bangladesh for Automotive Industry: Government’s focus on the roadmap to growth has pushed the country ahead. They focused on incentivizing local assembling, then more on sourcing local components – technically called progressive manufacturing policy. In less than a decade, the two-wheeler market in Bangladesh grew more than three times. During this period the source of supply shifted from the imports to the local manufacturing which accounts for more than 90% of the units sold here annually.
Two Wheeler Market is the Leader in Automotive Industry: A decade ago, Bangladesh two-wheeler sales were below 10,000 units per year. Then the industry grew rapidly, thanks to the investments of new and local brands which include Runner and Walton, Indians companies – Bajaj Auto, Hero Motor and TVS and the Japanese – Suzuki, Yamaha and Honda. In 2012, the market has grown up by 10X times compared with 5 years earlier while steadily growing till the 2016 when the sales were close to the quarter of a million. While Japanese brands are growing, the market is actually dominated by Indian brands with Baja Auto being the leader, followed by Hero Motor and TVS.
Analysts at Ken Research in their latest publication the report titled “Automotive Industry Outlook to 2025- Coverage on Bhutan, Sri Lanka, Bangladesh and Nepal” provides a comprehensive analysis of growth of Automotive sector in Nepal, Bhutan, Bangladesh, Sri Lanka. The report covers various aspects including Market Size, Total Number of players, market Share by type of OEM and by type of Vehicle. The report also focuses on the Impact of Covid-19 on the industry and provides insights from the experts on the trends in sector.
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Key Segments Covered
- By Type of Vehicle
- By OEM
- By Region (Nepal only)
Automotive OEMs Covered in the Report
- Toyota
- Mitsubishi
- Hyundai
- Honda
- TVS
- Hero
- Audi
- Nissan
- Bajaj Auto
- Maruti Suzuki
Key Target Audience
- Automotive OEMs
- Consultancy Companies
- Industry Associations
- Regulatory Bodies
Time Period Captured in the Report:-
- Historical Period– 2016-2020
- Forecast Period– 2020-2025
For More Information, refer to below link:-
Bangladesh Automotive Market Size, Share And Forecast 2027
Related Reports
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
