Press Release

Bangladesh Tire Market Expected to Witness a Substantial Growth Through 2025

Increasing automobile sales and growth-oriented government policies are some key factors expected to fuel the growth of Bangladesh tire market in next five years.

According to TechSci Research report, “Bangladesh Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2015- 2025”, Bangladesh tire market is projected to undergo a CAGR of around 7.08% during the forecast period. Key factors propelling the growth of Bangladesh tire market are increase in automobile sales, ongoing improvements in public infrastructure, and growth-oriented government policies. Moreover, the government of Bangladesh has laid special emphasis on enhancing the road infrastructure of the country, which has been instrumental in driving vehicle sales in the country and thus fuelling the growth of tire market. Currently, tire 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) and lack of indigenous tire production units as well as skilled labour. However, several global tire giants have expressed interest in making significant investments by setting up their manufacturing units in Bangladesh which is expected to boost the Bangladesh tire market growth through 2025.

Browse 77 market data Figures and Tables spread through 115 Pages and an in-depth TOC on "Bangladesh Tire Market"  

Bangladesh tire market is segmented based on vehicle type, demand category, radial vs bias and region. Based on vehicle type, the market can be categorized into passenger car, LCV, M&HCV, OTR, two-wheeler and three -wheeler. Among them, the two wheeler tire remains the dominant segment in overall tire market in Bangladesh as majority of the country’s population comes under low income group and increased sales of two wheeler. The trend is expected to continue over the forecast period as well. Based on demand category, Bangladesh tire market is split into OEMs vs replacement. Among the two, the replacement segment held dominant position in Bangladesh tire market until 2019 and is further expected to continue its dominance through 2025 owing to increased average life of vehicles and growing miles driven per year.

Leading market players in Bangladesh tire market are CEAT Bangladesh Limited, Bridgestone Corporation, Dunlop Tyres, MRF Limited, Rahimafrooz Bangladesh Ltd., Gazi Group, Yokohama Rubber Company, Birla Tyres, Apollo Tyres and JK Tyres. Japanese tyre brands like Yokohama and Bridgestone are popular among consumers in Bangladesh. Moreover, CEAT established its manufacturing plant in Bangladesh recently. Key growth strategies being adopted by market leaders are new product launches, joint ventures, mergers & acquisitions and collaborations.

“The future of Bangladesh tire market is bright as the country is witnessing increasing sale of passenger cars each year. However, the country largely lacks in tire manufacturing set ups, which leads to tire imports from other countries as the only feasible option to cater the growing demand. The company largely imports tire from China, India, Indonesia, Thailand and Japan. This reflects an opportunity for local companies to set up indigenous manufacturing base in Bangladesh and also enables foreign players to set up their localized production facilities to capture significant market share. Increase in local manufacturing units will generate employment as well as help Bangladesh’s infrastructure and economy to grow.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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“Bangladesh Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2015- 2025” has analyzed the potential of Bangladesh tire market, and provides information and statistics on market structure, size and trends. The report is designed to provide the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Bangladesh tire market.


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Bangladesh Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two Wheelers, Three Wheelers, OTR), By Tire Construction Type (Radial, Bias), By Demand Category Type (OEM, Replacement), By Region, Competition, Forecast & Opportunities,

Automotive | Oct, 2023

The major drivers for the Bangladesh Tire Market include the rapid growth of the automotive industry, increasing urbanization and infrastructure development, and rising consumer purchasing power, which leads to higher vehicle ownership and a growing demand for replacement tires.

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