The Bangladesh Tire Market size is projected to grow at a CAGR of around 2.4% during the forecast period, i.e., 2022-27. According to MarkNtel Advisors Study.
Bangladesh Tire Market Driver:
Growing Focus of the Government to Counter Dependence from Import Goods: The Covid-19 pandemic acted as an eye-opener for the country when the disruptions in tire imports brought financial fluctuations amidst the crisis. The government of Bangladesh is actively working on improving trade relations, devising financial plans, budgets, & providing tax exemptions to minimize the reliance of the automotive & tire industries on imports from other countries.
It, in turn, would generate growth opportunities for the leading players to set up tire production units and drive the Bangladesh Tire Market during the forecast period. Moreover, the introduction of sports vehicles like Mitsubishi Pajero in the local markets of Bangladesh is another crucial aspect anticipated to boost the sales of tires & augment the overall market growth during the forecast period.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Bangladesh Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2021
-Historical Period: 2017 to 2020
-Forecast Period: 2022 to 2027
- By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Medium and Heavy Commercial Vehicle (M&HCV)
- Two-Wheeler
- Three-Wheeler
- Off Road Tire (OTR)
- By Demand Category
- OEMs
- Replacement Demand
- By Tire Type
- Radial
- Bias
- By Sales Channel
- Direct Sales
- Online
- Dealers/Distributors
- Others
- By Season
- All Season Tires
- Winter
- Summer Tires
- By Rim Size
- Up to 12”
- 1” to 15”
- 1” to 18”
- 1” to 20”
- 1” to 22.5”
- 6” to 26”
- 1” to 35”
- 1” to 47”
- Above 47”
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Bridgestone, Goodyear and Dunlop Tyres, Continental, Yokohama, Michelin, Hankook, Toyo, MRF Tyres, Apollo Tyres are looking forward to strengthening their market positions.
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