Bangladesh Two Wheeler Market Synopsis
Bangladesh Two Wheeler Market is a significant segment within the country's automotive industry. It encompasses the production and sale of motorcycles, scooters, and other vehicles. The Bangladesh Two Wheeler Market growth is propelled by burgeoning urbanization, growing disposable income, and a rising need for affordable transportation solutions. With increasing environmental concerns, there is a growing interest in electric two-wheelers. In response to this, some manufacturers have started introducing electric models to cater to this emerging market segment.
According to 6Wresearch, the Bangladesh Two Wheeler Market is projected to grow during the forecast period of 2023-2029. The Bangladesh two-wheeler market share is consistently growing, primarily proliferated by rising urbanization and the need for affordable, efficient transportation. Urbanization has amplified the need for affordable transportation, driving demand for two-wheelers in the country. Also, the young and growing population actively contributes to the demand for motorcycles and scooters. Additionally, the country is experiencing economic growth, led to increased disposable income, making two-wheelers more affordable for a larger segment of the population. However, traffic congestion and inadequate road infrastructure pose challenges for two-wheeler riders and safety remains a major concern while driving two-wheelers. To eliminate the risk of accidents, major efforts are needed to improve road safety and promote the use of helmets. Nevertheless, there is potential for market expansion in rural areas where two-wheelers are essential for transportation.
Leading players in the Bangladesh Two Wheeler Market
The market is populated by both domestic and international manufacturers. Local brands coexist with well-known global players, offering a wide range of products to cater to different consumer segments. The Bangladesh Two Wheeler Market which is also a major part of the Asia Pacific Two Wheeler Market is highly competitive with the presence of major players such as;
- Runner Automobiles Ltd: This company is one of the leading motorcycle manufacturers in Bangladesh, known for producing a wide range of motorcycles and other vehicles.
- Hero MotoCorp Bangladesh: Hero MotoCorp is another major company which has been actively participating in the Bangladesh motorcycle market.
- Bajaj Auto Bangladesh: Bajaj is a well-known Indian motorcycle manufacturer with a significant presence in the market.
- Honda Bangladesh: Honda is a popular Japanese motorcycle brand with a strong presence in the country.
- Yamaha Bangladesh: Yamaha is another Japanese motorcycle manufacturer which has been serving the market with varied models.
The Impact of COVID-19 on the Bangladesh Two Wheeler Market
The COVID-19 pandemic had both positive and negative effects on the Bangladesh Two Wheeler Industry. The two-wheeler market experienced supply chain disruptions due to lockdowns and restrictions which led to delays in the manufacturing and distribution of several vehicles. During the pandemic, there was a surge in demand for personal mobility options to avoid jam-packed public transportation. This led to increased interest in motorcycles and scooters as a convenient mode of transportation.
Key attractiveness of the report
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022.
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Government policies and schemes introduced in the Bangladesh Two Wheeler Market
The government of Bangladesh introduced the Motorcycle Industry Development Policy in 2018 to encourage the production of motorcycles in the country to reduce dependency on imported two-wheelers and promote the domestic motorcycle industry. Moreover, the government has occasionally reduced import tariffs on two-wheelers to make them more affordable for the general public. Also, these tariffs are introduced to encourage the import of motorcycles, especially from neighbouring countries. Further, the government has worked on simplifying the registration and licensing processes for two-wheelers, making it easier for individuals to ride motorcycles legally.
Key Highlights of the Report:
- Historical Data and Forecast of Bangladesh Two Wheeler Market Revenues & Volume By Up to 125cc for the Period 2019 - 2029
- Bangladesh Two-Wheeler Market Outlook
- Historical Data and Forecast of Bangladesh Two Wheeler Market Revenues & Volume By Engine Capacity for the Period 2019 - 2029
- Market Size of Bangladesh Two-Wheeler Market, 2022
- Historical Data and Forecast of Bangladesh Two Wheeler Market Revenues & Volume By Scooter/Moped for the Period 2019 - 2029
- Forecast of Bangladesh Two-Wheeler Market, 2029
- Historical Data and Forecast of Bangladesh Two Wheeler Market Revenues & Volume By Scooter/Moped for the Period 2019 - 2029
- Historical Data and Forecast of Bangladesh Two Wheeler Market Revenues & Volume By Up to 125cc for the Period 2019 - 2029
- Historical Data and Forecast of Bangladesh Two Wheeler Market Revenues & Volume By Engine Capacity for the Period 2019 - 2029
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