The construction machinery market in Bangladesh is constantly growing. According to the Bangladesh Bureau of Statistics, the construction sector grew by 18.25 per cent to Tk. 63,594 crore and the real estate sector by 15.14 per cent to Tk. 61,935 crore in the last financial year.
Many mega construction projects have begun in the country over the past decade. As a result, the use of heavy machineries has increased enormously. As the market expands, many people are getting involved in the business of heavy machinery. Since such machinery has not been manufactured in the country as yet, traders import those and sell these locally.
There are over 10 importers of heavy duty construction and infrastructure equipment.
As much as 60 per cent of the equipment available in Bangladesh is reconditioned and are either Japanese or German products, said M Samsuzzaman, general manager of ACI Motors, which entered the market in 2014 and represents one of the world’s top producers of full line construction equipment, Case Construction Equipment.
Many companies have taken up business as distributors of various global heavy machinery manufacturers, resulting in the expansion of their market in Bangladesh.
More than 20 Chinese companies that manufacture construction equipment took part in the exposition and they expressed interest in establishing business relations with Bangladeshi companies.
Chinese construction machinery and equipment manufacturers control 60 percent of the market because of competitive pricing, said Riazul Islam, assistant manager of Beatific Engineering, a construction machinery importer. The rest come from Korea and Japan, he said.
Both the construction and the real estate sectors contribute significantly to the country’s economy. In fiscal 2017-18, the construction sector’s contribution to the gross domestic product was 7.89 percent and the real estate sector’s 7.82 percent, according to BBS.
The government has about $30 billion worth of development projects under construction across the country in a bid to mitigate Bangladesh’s infrastructure issues and attract foreign direct investment to accelerate the country’s economic growth.
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