Market Overview
Bangladesh’s tire industry highly depends on imports from several countries like China, India, Japan, & Indonesia, among others. It has improper infrastructure for setting up tire production facilities, unavailability of raw materials like natural rubber, lack of skilled professionals & capital investment, etc.
However, the government of Bangladesh is actively working on seeking ways to counter its dependence on the import of tires and laying out tax exemptions as opportunity areas for several leading tire manufacturers. With this, the tire market in Bangladesh shall observe both significant ups & downs in the coming years.
Market Insights
The Bangladesh Tire Market is projected to grow at a CAGR of around 2.4% during the forecast period, i.e., 2022-27. Since Bangladesh mostly relies on the import of tires & automobile components for the sustainability of its automotive sector, the tire market might witness slow growth in the coming years. It owes principally to the implementation of several policies by the Bangladesh government emphasizing the development of road infrastructure.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR(2022-27) | 2.4% |
| Key Companies Profiled | Bridgestone, Goodyear and Dunlop Tyres, Continental, Yokohama, Michelin, Hankook, Toyo, MRF Tyres, Apollo Tyres |
| Unit Denominations | USD Million/Billion |
It shall augment the vehicle sales in the country and make a direct impact on the tire industry over the forecast years. Besides, the country's mounting demand-supply gap and its import dependence on countries like China, India, Japan, & Indonesia are generating growth opportunities for the leading players to bridge the gap & enter the tire market.
This dependence on the import of tires & vehicle components is because the country lacks raw materials like natural rubber, native manufacturing units, skilled professionals, & prolonged political instability. Nonetheless, these scenarios are anticipated to witness a paradigm shift and propel the overall market growth in the coming years.
Key Trend in the Bangladesh Tire Market
Since the country lacks capital investment for the sustainability of the automotive & tire industry, the government is seeking measures to support the industry expansion. Hence, with a rising number of tax exemptions for tire manufacturing entwined with the increasing encouragement for the adoption of Electric Vehicles (EV), the tire industry is expanding. Moreover, norms like Automobile Industry Development Policy-2020, which aims to reach the goal of at least 15% EV registrations by 2030 as a step forward in reducing carbon emissions, are projected to boost the Bangladesh Tire Market over the coming years.
1. Introduction
1.1. Market Segmentation
1.2. Product Definition
1.3. Research Process
1.4. Assumptions
2. Executive Summary
3. Experts Verbatim-What our experts say?
4. Bangladesh Tire Market Voice of Customer
4.1. Brand Awareness
4.2. End User Expectations
4.3. Key Factors Impacting Vendor Selection
4.4. Key Issues Encountered
4.5. Vendor’s Receptiveness to Address Key Customer Issues
4.6. Future Requirements
5. Bangladesh Tire Market Analysis, 2017-2027F
5.1. Market Size & Analysis
5.1.1. Market Revenue
5.1.2. Units Sold
5.2. Market Share & Analysis
5.2.1. By Type of Vehicles
5.2.1.1. Passenger Car
5.2.1.2. Light Commercial Vehicle
5.2.1.3. Buses and Trucks
5.2.1.4. Medium and Heavy Commercial Vehicles
5.2.1.5. Off the Road (OTR)
5.2.1.6. Two Wheelers
5.2.1.7. Three Wheeler
5.2.2. By Demand Category
5.2.2.1. OEM
5.2.2.2. Replacement
5.2.3. By Type of Tire
5.2.3.1. Radial
5.2.3.2. Bias
5.2.4. By Sales Channel
5.2.4.1. Dealer/Exclusive Outlets
5.2.4.2. Online
5.2.5. By Season
5.2.5.1. All season
5.2.5.2. Summer
5.2.6. By Price Category
5.2.6.1. Budget
5.2.6.2. Economy
5.2.6.3. Premium
5.2.7. By Rim Diameter
5.2.7.1. Upto 12”
5.2.7.2. 12.1” to 15”
5.2.7.3. 15.1.” to 18”
5.2.7.4. 18.1” to 20”
5.2.7.5. 20.1” to 22.5”
5.2.7.6. 22.6” to 26”
5.2.7.7. 26.1” to 35”
5.2.7.8. 35.1” to 47”
5.2.7.9. Above 47”
5.2.8. By Company
5.2.8.1. Revenue Shares
5.2.8.2. Strategic Factorial Indexing
5.2.8.3. Competitor Placement in MarkNtel Quadrant
6. Bangladesh Passenger Car Tire Market Analysis, 2017-2027F
6.1. Market Size & Analysis
6.1.1. Market Revenue
6.2. Market Share & Analysis
6.2.1. By Type of Vehicle
6.2.1.1. Sedan
6.2.1.2. SUV
6.2.1.3. Hatchbacks
6.2.1.4. Others
6.2.2. By Demand Category
6.2.3. By Type of Tire
6.2.4. By Sales Channel
6.2.5. By Season
6.2.6. By Price Category
6.2.7. By Rim Diameter
7. Bangladesh Light Commercial Vehicle Tire Market, 2017-2027F
7.1. Market Size & Analysis
7.1.1. Market Revenue
7.2. Market Share & Analysis
7.2.1. By Type of Vehicle
7.2.1.1. Light Trucks
7.2.1.2. Light Buses
7.2.1.3. Pick-up Trucks and Vans
7.2.2. By Demand Category
7.2.3. By Type of Tire
7.2.4. By Sales Channel
7.2.5. By Season
7.2.6. By Price Category
7.2.7. By Rim Diameter
8. Bangladesh Medium Heavy Commercial Vehicle Tire Market, 2017-2027F
8.1. Market Size & Analysis
8.1.1. Market Revenue
8.2. Market Share & Analysis
8.2.1. By Type of Vehicle
8.2.1.1. Trucks
8.2.1.2. Buses
8.2.2. By Demand Category
8.2.3. By Type of Tire
8.2.4. By Sales Channel
8.2.5. By Season
8.2.6. By Price Category
8.2.7. By Rim Diameter
9. Bangladesh Two-Wheeler Tire Market, 2017-2027F
9.1. Market Size & Analysis
9.1.1. Market Revenue
9.2. Market Share & Analysis
9.2.1. By Type of Vehicle
9.2.1.1. Scooters
9.2.1.2. Mopeds
9.2.1.3. Motorcycles
9.2.2. By Demand Category
9.2.3. By Type of Tire
9.2.4. By Sales Channel
9.2.5. By Season
9.2.6. By Price Category
9.2.7. By Rim Diameter
10. Bangladesh Three-Wheeler Tire Market, 2017-2027F
10.1. Market Size & Analysis
10.1.1. Market Revenue
10.2. Market Share & Analysis
10.2.1. By Type of Vehicle
10.2.1.1. Passenger Carrier
10.2.1.2. Load Carrier
10.2.2. By Demand Category
10.2.3. By Type of Tire
10.2.4. By Sales Channel
10.2.5. By Season
10.2.6. By Price Category
10.2.7. By Rim Diameter
11. Bangladesh OTR Vehicle Tire Market, 2017-2027F
11.1. Market Size & Analysis
11.1.1. Market Revenue
11.2. Market Share & Analysis
11.2.1. By Type of Vehicle
11.2.1.1. Earthmoving Equipment
11.2.1.2. Construction and Agricultural Vehicles
11.2.1.3. Material Handling Vehicles
11.2.2. By Demand Category
11.2.3. By Type of Tire
11.2.4. By Sales Channel
11.2.5. By Season
11.2.6. By Price Category
11.2.7. By Rim Diameter
12. Bangladesh Tire Market Policies, Regulations, Product and Services Standards
13. Bangladesh Tire Market Trends & Insights
14. Bangladesh Tire Market Dynamics
14.1. Growth Drivers
14.2. Challenges
14.3. Impact Analysis
15. Bangladesh Tire Market Hotspot & Opportunities
16. Bangladesh Tire Market Key Strategic Imperatives for Success & Growth
17. Bangladesh Competition Outlook
17.1. Competition Matrix
17.1.1. Product and Services Portfolio
17.1.2. Brand Specialization
17.1.3. Target Markets
17.1.4. Target End Users
17.1.5. Research & Development
17.1.6. Strategic Alliances
17.1.7. Strategic Initiatives
17.2. Company Profiles (Business Description, Product and Services Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
17.2.1. Bridgestone
17.2.2. Goodyear and Dunlop Tyres
17.2.3. Continental
17.2.4. Yokohama
17.2.5. Michelin
17.2.6. Hankook
17.2.7. Toyo
17.2.8. MRF Tyres
17.2.9. JK Tyres
17.2.10. Apollo Tyres
18. Disclaimer
