With people shifting towards a health-conscious lifestyle, bicycle usage has been rising across countries. Riding on this demand, Bangladesh had been steadily building a strong presence in the global bicycle market. However, post-COVID, factors such as the Russia–Ukraine war and other disruptions caused a slump in demand, leading to two consecutive years of declining exports of this eco-friendly vehicle. Since then, the bicycle market has begun to recover.

In the global bicycle export market, Bangladesh is being led from the front by the Meghna Group. Currently, this conglomerate accounts for 67 per cent of the country’s total bicycle exports. Among the top five bicycle exporters from Bangladesh, the leading two are also part of the Meghna Group: M&U Cycle and Hana System.

New investment is also coming into the bicycle sector, albeit at a very low scale. After more than two decades of exporting ready-made garments, the Panam Group has ventured into bicycle production. Within just one year, the company has emerged as one of the top five exporters. In the 2024-25 fiscal year, Panam Group ranked third in bicycle exports. The fourth top exporter is Rangpur Metal Industries of the RFL Group, while the fifth position is held by Alita (BD) Limited, a foreign-invested company and the country’s first bicycle exporter.