Bangladesh motorcycle market continues to grow at an average rate of 30% from 2015 to 2019. The progress of the motorcycle market has been hindered due to various obstacles including corona epidemic, oil price hike and till now the motorcycle brands are trying to strengthen their own position.
Indian brands dominate the motorcycle market of Bangladesh. In the last two fiscal years 2021-2022 and 2022-2023, the statistics show that Indian brands have captured an average market share of around 58%, with Bajaj leading the way.
Bajaj is currently the motorcycle market leader in Bangladesh, with a market share of 33% in FY 2021-2022 and 28% in FY 2022-2023. One of the reasons behind Bajaj retaining this position is their strong position in the 110cc – 125cc segment. They have been able to offer motorcycles in the market with good mileage as well as cheap price according to the demand of relatively low cc customers. Also, in the 150cc segment, Yamaha, Suzuki brands have a strong position, but one of their models in the 150cc segment, Bajaj Pulsar, is quite popular among customers.
Analyzing the market by motorcycle segment, it can be seen that 150cc bikes occupy an average of 44% market share. One of the reasons for the growth of this segment is the attraction of the young generation of bikes in the country, along with Bangladeshi brands offering some great bikes in the 150cc segment. World famous Japanese brand Yamaha is leading in this list.
Yamaha started its journey in 2016 under ACI Motors in Bangladesh. They give more importance to 150cc bikes in Bangladesh market and have been providing bikes according to market demand. The image of people's trust in Yamaha bikes can be understood by looking at the data of the last two years. Yamaha had a 21% market share in the 150cc segment in FY 2021-2022, which increased by 10% to 31% in FY 2022-2023, making Yamaha the market leader in the 150cc segment.
Yamaha has also been able to target the youth segment brilliantly. They have made youth icons like Shakib Al Hasan as their brand ambassadors. Also, Yamaha launched Yamaha Riders Club in 2016 to create bonding between bikers. Yamaha Riders Club participates in various humanitarian activities across the country. For example: helping flood victims, distributing masks during corona etc. Yamaha organizes special events for bikers. For example:
1. Beginner riders are trained in different districts of the country by Yamaha Riding Academy.
2. Yamaha Road Safety Campaign and Yamaha Friendship Day they run campaigns to prevent road accidents.
3. At the Yamaha Exchange Festival, they give bikers an opportunity to exchange bikes of other brands and get a brand new Yamaha bike.
4. In the Guinness Book of Records, the world's biggest bike logo now belongs to Bangladesh and this achievement also belongs to Yamaha.
5. The achievements of the bikers are highlighted by Yamaha in their talk shows.
7. Bikers get a chance to get together at the Yamaha Riding Fest.
Thus, by participating in various social activities, they have been able to emerge from being just a bike brand and introduce themselves to customers as a lifestyle brand.
However, along with the Yamaha brand, Suzuki has a strong position in the 150cc segment. Their Gixxer series is quite popular for its attractive outlook. Currently Suzuki is in 2nd position and the market share is around 27%. Also, the position of TVS and Honda along with Bajaj in this segment is noticeable, but the Indian brand Hero is not able to express itself in this segment.
Another area of strength for Yamaha is the product variety in the 150cc segment. In the commuter segment their FZS V2, FZS V3 and FAZER Fi have captured the market. Again Yamaha's R15 series has been satisfying customers in the premium segment. For those who prefer naked sports bikes, there is the MT15. And for those who prefer vintage or cafe racer type bikes, there is the Yamaha XSR. Each of these bikes belongs to the 150cc segment and each bike is manufactured targeting a different customer type. No other brand can offer so much variety in this segment in the country's market.
This combination of trust in Japanese brand quality, providing a variety of quality bikes and positioning ourselves as a lifestyle brand has essentially established Yamaha as the market leader in the 150cc segment.