DUBLIN, Apr. 01, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/95dkkv/bangladesh_tyre) has announced the addition of the "Bangladesh Tyre Market Forecast and Opportunities, 2020" report to their offering.
Bangladesh tyre market is projected to grow at around 9% CAGR until 2020 on account of rising automobile sales, increasing investments by foreign players, and government support in the form of reduction in import duties.
Segment wise, two wheeler tyres dominate the market as the country's two wheeler fleet exceeds other vehicle fleets by a significant margin. On account of largest population as well as vehicle fleet, Dhaka remains the leading geography witnessing tyre sales across Bangladesh. Despite rising automobile sales, replacement segment continues to dominate the market, holding significant majority share in tyre sales in the country. Major companies like MRF, Dunlop, CEAT, and Goodyear have been selling their tyres in the country through their exclusive distributors.
Over the past few years, Bangladesh has been emerging as another developing country in South East Asia, offering considerable growth opportunities across diverse industry segments including automotive. Several foreign investors are even eyeing Bangladesh as the next important destination over the coming years. Currently, tyre industry in Bangladesh is largely dependent on imports from other countries like India, China, Japan and Indonesia due to scarcity of raw material (natural rubber), lack of indigenous tyre production units as well as skilled labor, and prolonged political instability. However, the scenario is expected to witness a paradigm shift in the coming years as several global leading tyre companies intend to set up their manufacturing plants in the country.
Ceat, for instance, has recently established its tyre manufacturing plant in Bangladesh. Besides tyre companies, many automotive players have also voiced intention to commence manufacturing operations in Bangladesh, which in turn would drive investments in tyre market as well.
Bangladesh Tyre Market Forecast and Opportunities, 2020 discusses the following aspects related to tyre market in Bangladesh:
- Growth in Automotive Market
- Anticipated Investments by Foreign Players in Domestic Market
- Expansion in Distribution Channel
- Entry of New Local Players in Domestic Market
- Import Driven Market
Key Topics Covered:
1. Research Methodology
2. Analyst View
3. Tyre : Product Overview
4. Bangladesh Tyre Market Outlook
5. Bangladesh Passenger Car Tyre Market Outlook
6. Bangladesh Commercial Vehicle Tyre Market Outlook
7. Bangladesh Two-Wheeler Tyre Market Outlook
8. Bangladesh Three-Wheeler Tyre Market Outlook
9. Bangladesh OTR Tyre Market Outlook
10. Bangladesh Tyre Market Trade Analysis - Import Scenario
11. Market Dynamics
12. Policy & Regulatory Landscape
13. Market Trends & Developments
14. Bangladesh Economic Profile
15. Competitive Landscape
16. Strategic Recommendations
- CEAT Bangladesh Limited
- Bridgestone Corporation
- MRF Limited
- Rahimafrooz Bangladesh Ltd.
- Gazi Group
- Yokohama Rubber Company
- Bila Tyres
- Apollo Tyres
- JK Tyres
For more information visit http://www.researchandmarkets.com/research/95dkkv/bangladesh_tyre
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SOURCE Research and Markets