The Motorcycles market in Bangladesh has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Motorcycles market in Bangladesh have been shifting towards more affordable and fuel-efficient models. As the country continues to develop, there is a growing demand for motorcycles as a cost-effective mode of transportation. Customers are also increasingly conscious of fuel consumption and environmental impact, leading to a preference for motorcycles with better fuel efficiency. Additionally, customers are looking for motorcycles that offer good value for money, with reliable performance and low maintenance costs. Trends in the market reflect these changing customer preferences. There has been a rise in the popularity of entry-level motorcycles, which are more affordable and fuel-efficient. These motorcycles are often targeted towards the younger generation and urban commuters. Manufacturers have been introducing new models that cater to this segment, offering features such as better fuel efficiency, stylish designs, and advanced technology. There is also a growing trend towards electric motorcycles, as customers seek more environmentally friendly options. Local special circumstances also contribute to the development of the Motorcycles market in Bangladesh. The country's infrastructure, particularly in rural areas, is still developing, making motorcycles a practical choice for transportation. The narrow roads and congested traffic in urban areas also make motorcycles a convenient mode of travel. Additionally, the relatively low cost of motorcycles compared to cars makes them more accessible to a larger portion of the population. Underlying macroeconomic factors further support the growth of the Motorcycles market in Bangladesh. The country's GDP has been steadily increasing, leading to a rise in disposable income and purchasing power. This has allowed more individuals to afford motorcycles and contribute to the market's expansion. Furthermore, government initiatives to promote the use of motorcycles, such as tax incentives and subsidies, have also played a role in driving market growth. In conclusion, the Motorcycles market in Bangladesh is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards more affordable and fuel-efficient models, the rise of entry-level and electric motorcycles, the practicality of motorcycles in the country's infrastructure, and the increasing purchasing power of the population all contribute to the market's growth.
Data coverage:
Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.Modeling approach / Market size:
Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.Additional Notes:
The market is updated once a year.
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