Electric bicycles have pushed up the sales of the local bike industry as the manufacturers are learning to live with the present-day challenge.
Sales of bicycle in local and global markets have marked a significant rise thanks to new models and electric bikes, industry insiders have said.
Bangladesh is currently exporting 0.7 million (7.0 lakh) bicycles against only 0.5 million two years ago, according to them.
Bangladesh was the third largest exporting country in the European Union (EU) market last year, they said.
Some leading local bicycle companies are manufacturing electric bicycles, targeting the export market.
The exporters will have to turn to battery-run bicycles in high demand in the global market to keep the current export trend intact, said Director of Export Unit for Complete Bicycle of Meghna Group MA Tanvir Titash.
The country may face a challenge on the export front, if the local makers fail to meet the growing demand for electric bicycles in the global market, the industry insiders said.
Production of non-electric bicycles dropped by about 15 per cent globally over the last five years, they further said.
The demand for traditional bicycles is now on the wane and it has already impacted the production chain, said MA Tanvir Titash.
"We have already moved to manufacture electric bicycles to cope with the demand," he added.
But the production cost of an electric bicycle is equivalent to eight to ten non-electric bikes, he added.
Currently, six private companies, including three of Meghna Group and PRAN-RFL, are exporting bicycles. They also export spare parts.
Export-oriented local companies manufacture about 0.2 million bicycles every year for the local market, said Mr Tanvir, also general secretary of Bangladesh Bicycle and Parts Manufacturers and Exporters Association.
Besides, 85 per cent of the parts of bicycles are being manufactured locally for both local and global markets, he added.
In the local market, the demand for bicycles started increasing shortly after the new model bicycles arrived about five years back, traders said.
Tightening the border between Bangladesh and India to check smuggling has played a significant role in importing bicycles for last two years, they pointed out.
About 1.0 million bicycles are imported every year to meet the domestic demand, said Secretary of Bangladesh Bicycle Merchants Assembling & Importers Association Muhammad Russul.
Six major and 20 small local companies are mainly dominating the local market by importing bicycles, he said.
"We mainly import parts of bicycles and assemble them locally."
Prices of new model bicycles range from Tk 6,000-Tk 6,500 to Tk 11,000-Tk 12,000 for adults and Tk 2,200-Tk 2,500 to Tk 4,000-Tk 4,200 for children.
Besides, old model bicycles are sold at Tk 6,000 to Tk 6,500.
Sales of bicycles have increased as it gained popularity among the people who want to avoid traffic congestions on roads.
Mir Russel, a member of Jobike, told the FE that people now prefer to ride bicycles as it helps them to avoid jam-prone roads.
The company has also developed an app on bicycle sharing.
"We have launched the app service on the campus of Jahangirnagar University on an experimental basis and planned to expand our business in Dhaka and elsewhere gradually," Mr Russel said.
