Press Release

16 To 30 Tons Truck Dominates The India Truck Market

Rapidly growing logistics sector coupled with increasing mining, construction and infrastructure projects to drive India truck market through 2023

According to TechSci Research report, “India Truck Market, By Vehicle Type, By Fuel Type, By Application, By Tonnage, Competition Forecast & Opportunities, FY2013-FY2023, the country’s truck market is projected to surpass $ 16 billion by 2023, backed by growing construction and mining activities in the country. Furthermore, continuous improvement in road infrastructure coupled with booming logistics sector is further likely to push demand for trucks across the country in the coming years. Tata Motors Limited is the leader in India truck market, followed by Ashok Leyland Limited, VE Commercial Vehicles Limited and Mahindra & Mahindra Limited, among others.

Browse 48 market data Figures and 12 Tables spread through 101 Pages and an in-depth TOC on "India Truck Market"

https://www.techsciresearch.com/report/india-truck-market/3133.html

With a volume share of over 35% in India truck market in 2017, trucks with tonnage capacity of 16 tons-30 tons dominated the India truck market, followed by 7.5 tons-16 tons capacity truck segment. Western region of India accounts for the largest share in India truck market, followed by Southern, Northern and Eastern regions. Major factors driving the demand for trucks in Western region are rising number of infrastructure projects such as semi high-speed trains, smart cities, dedicated freight corridors along with sea port development and comparatively higher manufacturing activities by construction companies in the region. However, Northern and Southern regions of the country are anticipated to witness comparatively faster pace in demand for trucks during the forecast period.

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“Rising demand for trucks by fleet owners for providing transporting solution for logistics industry, e-commerce industry, mining and construction industry, etc., is anticipated to propel growth in India truck market over the next five years. Though, the country’s truck market is highly competitive and leading manufacturers are fast adopting to changing market scenario, rapidly changing government norms and regulations such as the new axle load regulation and upcoming BS VI implementation is expected to keep truck manufacturers on their toes over the next five years. Moreover, easy availability of finance and continuously expanding product offerings of major truck players is anticipated to fuel truck sales across the country through 2023.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Truck Market By Vehicle Type, By Fuel Type, By Application, By Tonnage, Competition Forecast & Opportunities, FY2013-FY2023 has analyzed the potential of truck market in India, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the truck market across India.

 

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