Comprehensive Overview of the Bangladesh Tire Market: Size, Trends, and Growth Forecast for 2022-2027

Business Jan 20, 2025 13 Add to Reading List

MarkNtel Advisors analyses the growth rate of the Bangladesh Tire market in the forecast period from 2022 to 2027. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Bangladesh Tire market, helping them make informed decisions.

Market Outlook – 2022-2027:

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.

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Key Company Profiles

This report explores recent significant developments in the Bangladesh Tire Market, focusing on the leading companies and their innovative profiles. The major players in the Bangladesh Tire Market, featured in this report, include:

Bridgestone
Goodyear and Dunlop Tyres
Continental
Yokohama
Michelin
Hankook
Toyo
MRF Tyres
JK Tyres
Apollo Tyres

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Market Segmentation & Coverage

This research report by MarkNtel Advisors categorizes the Bangladesh Tire Market to forecast revenues and analyse trends across each of the following sub-markets:

By Type of Vehicles

Passenger Car
Light Commercial Vehicle
Buses and Trucks
Medium and Heavy Commercial Vehicles
Off the Road (OTR)
Two Wheelers
Three Wheeler

Amongst all vehicles, Buses & Trucks are anticipated to demonstrate the fastest growth in the Bangladesh Tire Market during the forecast period.

By Demand Category

OEM
Replacement

By Type of Tire

Radial
Bias

By Sales Channel

Dealer/Exclusive Outlets
Online

By Season

All season
Summer

By Price Category

Budget
Economy
Premium

By Rim Diameter

Upto 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”

Key Driver & Opportunity: 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 Questions Addressed:

Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?

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