Press Release

India Truck Market To Establish Growth With Impressive CAGR Until FY2027

India Truck Market is expected to show robust growth due to demand for logistic trucks in the forecast period, FY2017-FY2027.

According to TechSci report on, “India Truck Market, By Region, Competition Forecast & Opportunities, FY2017 - FY2027”India truck market has shown promising growth in historical years until FY2021 and is expected to continue its growth in upcoming forecast years FY2023 to FY2027. India truck market owes its growth to the factors like increasing production of light, medium, and heavy trucks in the country. Increasing production scales, and sale capacity of the market dominators like Tata Motors, Mahindra & Mahindra, etc. further leads the growth of the India truck market in the upcoming five years. Feasibility of the light commercial trucks to carry smaller number of products and keeping transportation charges under affordable ranges further supports the growth of the India truck market. Also, to reach the hilly areas, and such difficult terrains of Eastern India, along with desert lands in the country through trucks are further facilitating the growth of the India truck market in the next five years. Expanding automotive industry, higher demands for the vehicles and advancing technology to provide functional tires & vehicles to work easily in all terrain, also aid market growth in the future five years. Fuel efficiency, lower maintenance cost, and longer life of the automobiles are some of the technological advancement the companies are working on to improve and thus substantiate the India truck market growth in the forecast years through 2027.


Although due to lockdown situation production of the trucks, and other automobile parts were halt and the unavailability of the experience truck drivers due to increasing cases of COVID-19 patient restrained the market growth. But with the recent relaxations and reinstatement of the production units, the India truck market is anticipated to grow further in the forecast period.


Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "India Truck Market"

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


The India truck market segmentation is based on vehicle type, propulsion, class, application, regional distribution, and competitional landscape. Based on vehicle type, the market is further bifurcated into light duty truck, medium duty truck, and heavy duty truck. Light duty trucks are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on grounds of growing production of light commercial trucks in the country. Mahindra & Mahindra Limited holds over 60% of the revenue shares of the total light commercial trucks in the country. Also, demands for freight movement to the hilly regions of the country, is further driving the growth of the India truck market in the next five years. Medium & heavy duty trucks are also anticipated to register significant growth in the future five years on the grounds of increasing by road transportation services. Increased freight movement of construction material, heavy machinery, etc. through road transport further aided the growth of the India truck market in the forecast period. More than 2 trillion metric ton freight was transported in the year 2016. Also, increased production of heavy trucks is aiding market growth as over 123 thousand heavy trucks were produced in the year 2020.

Based on application, the market is also sub-segmented into logistics, construction, mining, and others. Logistics are anticipated to hold the largest revenue shares of the market in the upcoming five years and dominate the market segment on account of increasing freight movements in the difficult terrains in the country. Increasing delivery services, and online shopping services also facilitate the growth of the logistic segment. Construction segment is also anticipated to hold the significant shares of the market in the next five years due to expanding construction industry. Increasing development of residential, industrial, and commercial infrastructure also support the growth of the segment as well as the growth of the India truck market in the forecast years.

A partial list of market players in the field includes :

  • Tata Motors Limited
  • Hinduja Group (Ashoke Leyland)
  • Mahindra & Mahindra Limited
  • Eicher Motors Limited
  • Asia Motor Works Ltd
  • Hindustan Motors
  • Force Motors Ltd
  • Daimler Truck AG
  • Volvo Group
  • Isuzu Motors Ltd.

Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=3133

Customers can also request for 10% free customization on this report.


“Road transportation of products is exceptionally high in the country. Rail transport often faces the drawbacks of not able to reach remote areas and difficult terrains. Moreover, smaller quantities of products transportation are more economical to be done through road as compared to railways, thus driving the growth of the India truck market in the upcoming five years. Also, rapidly growing demands for the green vehicles, electric vehicles, and eco-friendly sources of energy for the automobile functions are expected to drive the companies to increase their research and development sector. Technological advancement in the automobile parts like tires, and engines along with the better fuel efficiency demands in the trucks are expected to further facilitate the growth of the market in the future five years. New market players may focus on these grounds to establish their brands,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


India Truck Market By Vehicle Type (Light Duty Truck, Medium Duty Truck, Heavy Duty Truck), By Propulsion (ICE, Electric), By Class (Class 1, Class 2, Class 3, Class 4, Class 5, Class 6, Class 7, Class 8), By Application (Logistics, Construction, Mining, Others), By Region, Competition Forecast & Opportunities, FY2027 has evaluated the future growth potential of India truck market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India truck market.

 


Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: [email protected]

Web:  https://www.techsciresearch.com

Relevant News