Telangana Small Commercial Vehicle Market to Grow With Impressive CAGR until 2027
Telangana
Small Commercial Vehicle Market is anticipated to grow with increasing sales,
in the forecast period, 2023-2027F.
According to TechSci report on, “Telangana
Small
Commercial Vehicle Market - By
Top 5 Cities, Competition Forecast & Opportunities, 2027” Telangana
small commercial vehicle market might register an impressive CAGR during the
forecast period, 2023-2027, to establish growth due to factors like rising
inclination toward electric vehicles in the state. Research and development
sector is growing in the state due to efforts of the market players present in
the state. Global players like Hyundai, Fiat, Maruti have well established
research & development sector in the state and are actively supporting the
demands of electric vehicles. Growing advancement in the product line and surging
demands for the electric small commercial vehicles are actively driving the
growth of the Telangana small commercial vehicle market in the upcoming five
years. Moreover, expanding automotive industry in the state, increasing
investment, tax benefits to the manufacturers in the state, are also supporting
the growth of the Telangana small commercial vehicle market in the next five
years. Rising awareness among the population regarding depleting ozone, and
degrading environment is inclining the demands for the electric vehicles, thus
aiding the growth of the Telangana small commercial vehicle market in the
future five years. Growing sales of the small commercial vehicle is highly
dependent on the increased production, their rising disposable income, and growing
e-commerce sector, that is in turn substantiating the growth of the Telangana
small commercial vehicle market in the forecast years through 2027.
Surging
demands from the end use industries like healthcare industry, pharma industry,
agricultural industry, construction industry also aid the growth of the market.
Recent pandemic situation created surge in the demand for small commercial
vehicle due to urgency of the pharmaceutical and therapeutical products’ deliveries.
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The
Telangana small commercial vehicle market is segmented by vehicle tonnage,
industry, propulsion, competitional landscape, and regional distribution. Based
on vehicle tonnage, the market is further segmented into less than 1 ton, 1 - 2
ton, and 2 - 3 ton. 2 - 3 ton weighing vehicles are anticipated to hold the
largest revenue shares of the market an dominate the market segment in the
upcoming five years on grounds of increasing demand for stable small commercial
vehicles eligible to carry heavier loads for inter-state transportation and
commute. 1 – 2 ton vehicles may further hold significant shares of the market
in the next five years due to increasing demands from the e-commerce sector for
the timely delivery services. Rising demands for lightning-fast deliveries,
one-day deliveries are the major factors responsible for the growth of the
segment along with the growth of the Telangana small commercial vehicle market
in the next five years.
By
industry, the market is fragmented into E-commerce, FMCG, pharma, electronics,
construction, agricultural, hospitality, forestry, oil & gas, and others.
Based on propulsion, the market is differentiated between ICE and electric.
A
partial list of major market players of the Telangana small commercial vehicle
market includes :
·
Lohia Auto Industries
·
Tata Motors Limited
·
Ashok Leyland Limited
·
Atul Auto Limited
·
Piaggio Vehicles Pvt. Ltd. (PVPL)
·
Mahindra & Mahindra Ltd
·
Bajaj Auto Ltd.
·
TVS Motor Company
·
Isuzu Motors Telangana Private Limited
·
Saera Electric Auto Pvt. Ltd
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“The market analysis also studies the top 5 cities analysis, that are Hyderabad,
Warangal, Nizamabad, Karimnagar, Mahbubnagar. Hyderabad is the largest hub of
automotive companies in the state of Telangana. Established market players like
Tata Boeing Aerospace Limited (2007), Deccan Auto (2011), Mahindra Tractor
Plant (2012) along with the support from the state government has attracted
multiple national and global players to invest in the automotive industry as
well as penetrate the market themselves while establishing their research
institutes, product development units, marketing and promotional units in the
state. Global giants like Hyundai Motor Company, Fiat, Maruti Suzuki, etc. are
actively invested in the market establishment and have strong base in the state
now, thus increasing the competition in the state. Also, with latest launch of
Triton in the state with its latest product line of electric vehicles is
further expected to substantiate market growth. The Telangana government is
supporting these new ventures through favorable tax incentives. New market
players have huge opportunities for the market establishment in the state,”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Telangana
Small Commercial Vehicle Market By Vehicle Tonnage (Less Than 1 ton, 1 - 2 Ton,
and 2 - 3 Ton), By Industry (E-commerce, FMCG, Pharma, Electronics,
Construction, Agricultural, Hospitality, Forestry, Oil & Gas, and Others),
By Propulsion (ICE and Electric), By Top 5 Cities, Competition Forecast &
Opportunities, 2027” has
evaluated the future growth potential of Telangana small commercial vehicle 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 Telangana small commercial vehicle market.
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