The European Union (EU) countries are one of the biggest markets for bicycles, where consumers buy around 18 million units a year. According to Eurostat, Bangladesh is the third-largest exporter of bicycles to the EU and the 8th largest exporter in the global market. Pran-RFL is relatively new in the market only having started in 2015 but has gained huge popularity in the domestic market. According to Bangladesh Bicycle Merchant Assembling and Importers Association (BBMAIA), the local market demands nearly 1.5 million bicycles a year with an annual growth rate of 30%. Currently, the Bangladeshi domestic market is dominated by India and China, with 70% of the bicycles being imported to meet the local demand.

Source: Dhaka Tribune July 03, 2021 11:26 UTC