The Motorcycle Industry in Bangladesh is witnessing significant growth over the last two decades. A tumid demand in urban and semi-urban areas, relatively low cost of ownership, and domestic production are some of the leading factors propelling to pull down the bikes’ costing by nearly half simultaneously with the market’s growth.
Back in the early ’20s, a reputed brand bike cost around 2 lakhs almost. You can now get a 150cc bike within the price range of 1-1.5 lakhs easily and even below 1 lakh if used. Low prices have enhanced the demand for the motorcycle significantly in Bangladesh. Besides the backdrop of metropolitan city’s fabled traffic mismanagement, bikes offer a more affordable alternative than four-wheelers.
At Bikroy.com, we have found that two major things brought down the motorcycle price group in BD. Firstly, domestic production has exempted tariffs while purchasing bikes, and secondly, the aggressive marketing approach has been able to capture the audience’s attention. The bike owners can easily set-up their desired money and sell their bike within days now using the largest marketplace for motorbikes and scooters.
Although the industry has also been facing headwinds and still in the preliminary stages, the manufacturers show their eagerness to build industries associated with this booming sector. Well, let’s start our short virtual tour by looking at the selling trends over the past year.
Motorcycle Buying and Selling Trends in 2020
According to the data from Bikroy.com, we can see that the journey began conventionally at the very beginning of the year. But soon from march when the covid-19 situation rises, it fatally impedes the growth of the market and the industry.
During this whole period, the market growth stuck within a fixed range almost. After a few months, when our daily life gets used to facing the new normal, the market gets a boom again from both ends of motorcycle buyers and sellers.
The origin of the markets elevating in the second half is a multivariate question. The answer lies behind a series of events ranging from expanding the usage of ride-sharing services, domestic production of popular brands, government tax initiatives, and growing middle class.
Top Motorcycle Brands in Bangladesh
Across the whole of 2020, the motorcycle market lied in a fluctuating phenomenon. In the backdrop of the emerging economic situation and the overall increasing buying power of our country’s people, the market performs well.
Giving a closer look at the graph will help you get a clear picture of Bangladesh’s popular motorcycle brands. People are considering buying renowned brands. Availability of parts, different bike segments, and easy access to servicing points trigger people to choose a motorcycle brand.
Six renowned motorcycle brands are now in Bangladesh–TVS motor including Hero motocorp and Bajaj Auto from India, while Honda Motors and Suzuki Motors and Yamaha Motors from Japan, and only domestic brand Runner Motors.
Top Motorcycle Models in Bangladesh
As the middle-class grows in our country, buying mid-range bike models has also dramatically increased. This indicates the higher selling proportion of Indian motorcycle brands, as they offer budget-friendly bike models in every category.
Besides, the introduction of ride-sharing services in metropolitan cities has also contributed to the rise in demand for mid-budget or fuel-efficient motorcycles. The market is becoming even more competitive with Indian brands by minimizing costs and providing better service as a key step.
As per the sales record in Bikroy.com in 2020, Pulsar (a popular bike model from Bajaj Auto) maintained its top position in the Bangladeshi two-wheeler market, followed by Apache RTR (TVS) and Discover (Bajaj). Hunk (Hero) and Gixxer (Suzuki) maintained the third and fourth positions, respectively.
Top Searched Motorcycle Brands in Bangladesh
Market research from Japanese brand Yamaha says 1 of 150 people in Bangladesh use motorcycles. The proportion is 1:2 compared to the proportion of 1:4 in India. That indicates the motorcycle industry has a great potential to become a giant source of growth in Bangladesh.
The standout characteristics of higher demands show the prominence of searching for the favourite bike models over the Internet. A well-versed data from Bikroy.com shows that In 2020 the top brand searches in the motorcycle industry were about Honda, Yamaha, Suzuki, TVS, and Bajaj.
Price Range of Motorcycles in Bangladesh
The rising middle class of Bangladesh has been a massive driving force behind the industry’s upbringing. Motorcycles are cheaper and easier to maintain than cars. We have split the price group into seven categories, and we found that the 50-100k segment is accountable for approximately 33% of the total transmission.
13% of the group is devoted to the price group of 30-50k range followed by, a 150-200k range which acquires 12% of the transmission respectively.
Bike Conditions of Motorcycle Market in Bangladesh
In 2020, the overall motorcycle trading happened on Bikroy.com shows that used bikes have acquired 86% of the entire trading, and 14% of those are new bikes. The demand for used motorcycles is increasing, partly due to the budget-friendly transactions.
Sometimes consumers can buy new bikes, but the loan process’s complication discourages unemployed and students from buying the new one and leaning down to second-hand motorcycles.
Motorcycle Listing by City in Bangladesh
Due to the arbitrary traffic mismanagement and the rise of ride-sharing services, two-wheelers’ sale in the major cities has gone up.
In 2020, the top cities in motorcycle trading were Dhaka with the lion’s share of 55%, followed by Chattogram with 17% and others.
Besides the upward thrusts, the industry is experiencing now; there remain a few major issues that need to be addressed. As our local industry largely depends on imported parts, so it needs to have the government’s attention.
The trading of motorcycles in Bangladesh should grow as long as the economy stays strong. However, the development of associated industries where spare parts of motorcycles are produced, ways to inhibit rising fuel prices, and loan opportunities to buy motorcycles should be improved side by side.