Bangladesh: Suspension System Market 2025

Suspension System Market Size in Bangladesh

The Bangladeshi suspension system market shrank markedly to $X in 2022, which is down by -16.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.7% against 2020 indices. As a result, consumption reached the peak level of $X, and then dropped notably in the following year.

Suspension System Exports

Exports from Bangladesh

In 2022, after two years of growth, there was significant decline in shipments abroad of suspension systems, when their volume decreased by -47.3% to X tons. In general, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by 1,595%. As a result, the exports attained the peak of X tons, and then dropped markedly in the following year.

In value terms, suspension system exports dropped sharply to $X in 2022. Overall, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2017 when exports increased by 865% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

South Africa (X tons) was the main destination for suspension system exports from Bangladesh, accounting for a 64% share of total exports. Moreover, suspension system exports to South Africa exceeded the volume sent to the second major destination, Bahrain (X tons), fivefold. The third position in this ranking was held by Singapore (X kg), with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume to South Africa was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+116.4% per year) and Singapore (+105.2% per year).

In value terms, South Africa ($X) emerged as the key foreign market for suspension systems exports from Bangladesh, comprising 40% of total exports. The second position in the ranking was held by Singapore ($X), with a 16% share of total exports. It was followed by Guatemala, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to South Africa was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+99.7% per year) and Guatemala (0.0% per year).

Export Prices by Country

The average suspension system export price stood at $X per ton in 2022, increasing by 7.7% against the previous year. Overall, the export price, however, faced a precipitous decrease. The most prominent rate of growth was recorded in 2019 an increase of 43% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-2.7%).

Suspension System Imports

Imports into Bangladesh

In 2022, the amount of suspension systems imported into Bangladesh shrank to X tons, declining by -13.1% against the year before. In general, imports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 43%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, suspension system imports fell notably to $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +26.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. As a result, imports reached the peak of $X, and then fell sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of suspension system to Bangladesh, accounting for a 60% share of total imports. Moreover, suspension system imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+3.6% per year) and Japan (+15.1% per year).

In value terms, the largest suspension system suppliers to Bangladesh were China ($X), India ($X) and Japan ($X), together comprising 80% of total imports.

Among the main suppliers, China, with a CAGR of +11.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average suspension system import price stood at $X per ton in 2022, reducing by -4.9% against the previous year. Over the period under review, the import price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 when the average import price increased by 13%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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