Ride-sharing in Bangladesh is a success in terms of solving traffic woes; however, the ride-sharing apps are middle-class urban solutions for the Dhaka metro.
So far, the ride-sharing has observed as a tech-oriented business venture, a transformative one to our regular transportation system.
The popularity of Pathao has already increased the two-wheeled traffic in Dhaka. Especially, the motorcycle population focused on ride-sharing has increased a 44% uptake in motorbike sales. Even, the local ride-sharing market is turning out to be decidedly two-wheeled in nature.
On average about 1,000 units of two-wheelers are being sold in the country as the demand is rising. Five years ago the number was around 550.
Currently, the ride-sharing industry is worth an estimated Tk 2,200 crore, yearly. Even then, it makes up only 23% of the transportation. It has barely made a dent in the larger picture of the overall transport industry.
Motorcycle Industry Development Policy 2018 has already approved to facilitate the motorcycle manufacturing process to meet the domestic demand.
Operators predict that the market would grow many folds in the next two-three years.
So it is clear that the motorcycle oil market is on the cusp of significant change triggered by forces shaping the future of mobility as well as the growing motorcycle population in our country.
Market Insiders forecasted that how and when motorcycle engine oil demand will change as a reaction to transformative venture redefining mobility, including the advent of ride sharing.
So, ride-sharing as a mobility revolution, impacting motorcycle engine oil demand due to more frequent oil drain intervals in the near term.
Now, building partnerships between motorcycle brands and the lubricant products would be seen as a new channel to market.
Do the current marketing messages of motorcycle engine oil suppliers resonate with this group of buyers, decision makers, and influencers, or do they need to be modified for this new and growing segment of the market?