The Tyre market in Bangladesh still has to depend heavily on imports when it comes to tyres for heavy vehicles as local entrepreneurs have not yet tapped the huge potential of the sector for a lack of skilled workforce and technology, both involving huge investment. The total market size of tyres stands at around Tk3,000cr, of which the share of imported brands is 60% to 70%. Tyres are mainly sourced from China, India, Japan, Indonesia, the Philippines and Vietnam, according to market players. Maxxis, CST, MRF, Apollo, Hankook, Bridgestone and CEAT are among the imported brands dominating the big truck-bus tyre segment. Besides, in the car tyre segment, users prefer Dunlop, Maxxis, Hankook, Toyo, Yokohama, MRF, Presa, Bridgestone, Goodyear and CEAT tyres.
Key players
The automotive tyre market in Bangladesh thanks to increasing sales of commercial and passenger vehicles fuelled by expanding economic activities and affluent consumers. The market size of automotive tyres reached Tk 4,750 crore last year, up from about Tk 4,000 crore in 2017 and Tk 3,000 crore in 2015, according to market players. The commercial vehicle tyre segment dominates the industry with the market size standing at Tk 3,750 crore. At least 1.5 lakh pieces of tyres in the segment were sold in 2018.
FAQs about the Tyre Market in Bangladesh
- Are international tyre brands available in Bangladesh?
Yes, many international tyre brands have a strong presence in the Bangladeshi market, offering a wide range of options to consumers. - What is the impact of road infrastructure on the tyre market?
Improved road infrastructure leads to higher demand for technologically advanced tyres that offer better performance and longevity. - How can consumers identify counterfeit tyres?
Consumers should buy from authorized dealers and check for proper labelling, branding, and certification to avoid purchasing counterfeit tyres. - What are the benefits of radial tyres over bias-ply tyres?
Radial tyres offer better fuel efficiency, enhanced handling, and longer lifespan compared to bias-ply tyres. - How is the tyre industry contributing to sustainability?
Some tyre manufacturers are exploring eco-friendly materials and promoting tyre recycling to reduce the environmental impact of their products.
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