Two-wheeler vehicles or motorcycles are one of the leading and fastest-growing vehicle industries in Bangladesh. Motorcycle is one of the modes of transportation whose use has increased at a significant level in the last decade. At the present time, a number of businesses promote motorcycles to meet consumer demand. The import of motorbikes from India, China, and Korea is the main source of revenue for the two-wheeler industry. In Bangladesh, there are over 100 vehicle manufacturers performing their marketing operations. Ten to twelve businesses dominate the market share among them.
Due to rising two-wheeler sales in the nation over the past few years, the two-wheeler market in Bangladesh is predicted to expand rapidly between 2023 and 2027, with a CAGR of over 6% in value terms. Due to the inadequate road infrastructure, motorcycles are also commonly used in rural regions. Due to Bangladesh’s strong economic growth, expanding population, and rising consumer spending power, key players in the two-wheeler industry are choosing to expand there rather than in more developed neighboring countries like India and China. In the upcoming years, the market is projected to be driven by the expanding entry of major companies like Honda and Yamaha who are establishing production facilities in the nation.
Additionally, the motorcycle segment leads the market and is expected to maintain its position during the forecast period, owing to the high adoption of two-wheelers due to low-maintenance, easy availability of finance, and popularity among office goers to avoid traffic congestion. The electric two-wheeler segment is expected to grow at a high CAGR by 2025 due to the rising need of shifting to alternate means of transportation to curb pollution and conserve fossil fuels.
Honda Motors, Harley Davidson, Piaggio, BMW, Bajaj Auto Ltd. Kawasaki Motors, Yamaha, Suzuki, KTM, TVS Motor Company, etc. are major firms that produce two-wheelers in the Bangladeshi market. To grow their market share, the companies that are active in the market are concentrating on releasing new items at a faster rate.
The market for two-wheeler vehicles in Bangladesh is experiencing a dynamic and transformative phase. The demand for motorcycles and scooters is a testament to the changing mobility landscape and the increasing affordability. As urbanization and economic growth continue, the two-wheeler industry is poised for further expansion, offering convenience and efficiency to commuters while addressing transportation challenges. However, it’s essential for stakeholders to prioritize safety measures, environmental considerations, and regulatory frameworks to ensure a sustainable and beneficial future for both the industry and the country.
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