The consumer electrical and electronics industry in Bangladesh is underdeveloped due to a lack of technical knowledge and production capacity. But with the growing population and improved standards of living. Bangladesh is importing huge amounts of consumer electronics products to meet the increasing demand. China remains the largest supplier of electronics products for Bangladesh. In this context, the High Commission of India commissioned market research in 2017 with the objective to get a complete scenario of the consumer electronics market in Bangladesh. In order to examine the potential of Indian companies entering the Bangladesh electronics market.
Demand for air conditioners has been increasing rapidly in the urban areas of Bangladesh for the last few years. The demand for television, refrigerator, and fans is also seeing an increase in rural areas. The demand for air conditioners, refrigerators, and smart TV has been registering a rise in urban areas.
Export electronic goods
The electronics industry in Bangladesh exports jumped 8.5 times in the first nine months of the fiscal year 2020-21, compared to the same period of the previous fiscal year, according to the Export Promotion Bureau (EPB).
During the July-March period of FY2019-20, Bangladesh earned around $1.44 million from the exports of electronics goods. Including refrigerators and freezers, air conditioners, LED television, washing machine, blender, rice cooker, gas stoves, induction cookers, fans, hot plates, refrigerator compressors, and components, reports UNB. In the same period of FY21, the country’s earnings from the electronics goods export rose to $12.22 million. About 8.5 times higher than the export earnings of the previous fiscal year’s same period.
One and a half-decade ago, the local demand for electronics products was met with imported goods. Now the local brands have proved their mettle in capturing more than 90% of the markets by overcoming the foreign brand’s complete dominance.
Major players in the consumer electronics sector
- Walton Group.
- Transcom Electronics Ltd.
- Rangs Electronics Ltd.
- Best Electronics Ltd.
- MyOne Electronics Industries Ltd./Minister.
- Jamuna Electronics.
- PRAN RFL (Vision and Click).
- Esquire Electronics Ltd.
- Electra International
- Super Star Group (SSG).
- Astute Electronics.
The most well-known companies that sell batteries. For instance, UPS, inverters, and stabilizers are Rahimafrooz Bangladesh Ltd, Panna Battery Ltd, HAMKO Cooperation Ltd, Navana Batteries Ltd, Lucas Electrical, etc.