The report titled “Automotive Industry Outlook to 2025- Coverage on Bhutan, Sri Lanka, Bangladesh and Nepal” provides a comprehensive analysis of growth of Automotive sector in Nepal, Bhutan, Bangladesh, Sri Lanka. The report covers various aspects including Market Size, Future Potential, and Market Share by type of OEM and by type of Vehicle. The report also focuses on the Impact of Covid-19 on the industry and provides insights from the experts on the trends in sector.
Automotive Market Overview and Size
Covid-19 pandemic has drastically affected the supply chain in automotive sector and dampened the consumer spending in these countries, resulting in reduced sales. The growth over the years in these countries has been gradual. In Bhutan, the CAGR over the years has been positive which expounds the expansion of automotive sector in the country. Although, government in Bhutan is trying to discourage the use of private vehicles in order to meet its sustainability goals and preserve the rich environment of country by increasing the taxes. Whereas, in Bangladesh government has heavily incentivized the sector by reducing taxes; the result has been a healthy growth of the sector.
Automotive Market Segmentation
The automotive industry is affected by multitudes of factors. Government regulation and policies play a significant role in the growth of this sector. The unit sale of the automotive sector acts as an indicator of consumer spending in the country. Similarly, when consumer spending shrank in Covid-19, the unit sale of cars also went down.
By Type of Vehicle: In our report, we have considered all major types of vehicles considering Light Vehicles, Heavy Vehicles, Two Wheelers, Taxi, Earth Moving Equipment, Power Tiller, Medium Vehicles, Heavy Buses, Tractor, Medium Buses, Electric Vehicles.
By OEM: Majority of the cars in these countries are either imported from Japan or a Japanese manufacturer produces in the country. We have introduced the unit sale and market share for these OEM as per the conditions prevailing in the respective countries.
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Competitive Landscape of Automotive Market:
The competition in the Automotive Market across Nepal Bhutan Sri Lanka and Bangladesh is fairly concentrated and following a common trend where leading manufacturer are associated with Japan or South Korea with around ~30% share in the market. The major Automotive OEM include Toyota, Mitsubishi, Honda, Hyundai
Nissan and few other. Production Capacity, Pricing, Range, Speed, Technology, Maintenance Cost, Export Volume are the key competing parameters for the Automotive manufactures in the considered countries.
Automotive Market Future Outlook and Projections
The Automotive Market across Nepal, Bhutan, Sri Lanka and Bangladesh is growing rapidly with each country facing its specific bottlenecks. Government Regulations and tax incentives drive these markets heavily. They also have an effect on the consumer spending which directly effects the sales of all kinds of vehicles, heavy as well as light weight vehicles. The new found confidence in the Nepal Bhutan Sri Lanka and Bangladesh economic ecosystem has boasted the manufacturing and the purchase of vehicles in these countries. The report forecasts the CAGR for the 2020 to 2025 in Nepal Bhutan Sri Lanka and Bangladesh for Automotive Sector to be strong with positive outlook towards further growth.
Key Segments Covered
- By Type of Vehicle
- By OEM
- By Region (Bhutan only)
Automotive OEMs Covered in the Report
- Bajaj Auto
- Maruti Suzuki
Key Target Audience
- Automotive OEMs
- Consultancy Companies
- Industry Associations
- Regulatory Bodies
Time Period Captured in the Report:-
- Historical Period– 2016-2020
- Forecast Period– 2020-2025
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Ankur Gupta, Head Marketing & Communications