India Commercial Vehicles Market Size, Growth, Trend & Forecast 2021

Summary

Report Description

Indian has emerged as one of the largest markets for commercial vehicles globally. Growth of India commercial vehicles market is underpinned by various macro and micro economic factors, which impact the allied industries responsible for generating commercial vehicles demand in the country. Construction, logistics, mining, and passenger transportation are few of the major allied industries that require commercial vehicles. Most of the industry players in India commercial vehicles market have their production facility in the country to cater to domestic demands along with exports to various countries, as the exports volume of commercial vehicles across the segments outperformed the imports volume in FY2016.

According to TechSci Research report, “India Commercial Vehicles Market By Vehicle Type, By End Use Industry, Competition Forecast and Opportunities, 2021’’, the market of commercial vehicles in India is projected to grow at a CAGR of over 14%, in value terms, during FY2017–FY2022. Rising infrastructure development projects across the country, tentative replacement of old commercial vehicles fleet on account of implementation of stringent emission norms, growing manufacturing and logistics sectors, and increasing focus on tourism and hospitality sector by central and various state governments are few of the major factors projected to propel India commercial vehicles market over the course of next five years.

The commercial vehicles market of India is segmented into three broad categories on the basis of gross vehicle weight (GVW). Commercial vehicles with GVW less than 7.5 tons are considered as light commercial vehicles (LCVs). On the other hand, commercial vehicles with GVW between 7.5 tons and 16.2 tons are categorized as medium commercial vehicles (MCVs). Lastly, the commercial vehicles with GVW greater than 16.2 tons are considered as heavy commercial vehicles (HCVs) in the country.

Some of the major companies operating in commercial vehicles market are Tata Motors, Ashok Leyland, and Mahindra & Mahindra cumulatively accounted for a lion’s share in FY2016. “India Commercial Vehicles Market By Vehicle Type, By End Use Industry, Competition Forecast and Opportunities, 2021”, report elaborates following aspects of commercial vehicles market in India:

India Commercial Vehicles Market Size, Share & Forecast
Segmental Analysis – By Vehicle Type (Light, Medium and Heavy) and By End Use Industry (Passenger Transportation, Logistics, Mining, and Construction)
Policy & Regulatory Landscape
Changing Market Trends & Emerging Opportunities
Competitive Landscape and Strategic Recommendations

Why You Should Buy This Report?

To gain an in-depth understanding of India commercial vehicles market
To identify the on-going trends and segment wise anticipated growth in the coming years
To help industry consultants, commercial vehicle companies and other stakeholders to align their market-centric strategies
To obtain research based business decisions and add weight to presentations and marketing materials.
To gain competitive knowledge of leading market players
To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs

Report Methodology

The information contained in this report is based on both primary and secondary research. Primary research includes interviews with commercial vehicle manufacturers, dealers & distributors, and industry experts. Secondary research includes an exhaustive search of relevant publications such as company annual reports, financial reports and proprietary databases.

Table of content

1. Product Overview

2. Research Methodology

3. Analyst View

4. India Commercial Vehicles Market Outlook

4.1. Market Size & Forecast

4.1.1.By Value & Volume

4.2. Market Share & Forecast

4.2.1.By Vehicle Type (Light, Medium, and Heavy Commercial Vehicles)

4.2.2.By Company

4.2.3.By Region

5. India Heavy Commercial Vehicles (HCVs) Market Outlook

5.1. Market Size & Forecast

5.1.1.By Value & Volume

5.2. Market Share & Forecast

5.2.1.By Vehicle Type (Heavy Duty Truck and Heavy Duty Bus)

5.2.2.By End Use Industry

6. India Light Commercial Vehicles (LCVs) Market Outlook

6.1. Market Size & Forecast

6.1.1.By Value & Volume

6.2. Market Share & Forecast

6.2.1.By Vehicle Type (LCV Passenger, LCV Goods <2T GVW, LCV Goods 2-3.5T GVW, and LCV Goods >3.5T GVW)

6.2.2.By End Use Industry

7. India Medium Commercial Vehicles (MCVs) Market Outlook

7.1. Market Size & Forecast

7.1.1.By Value & Volume

7.2. Market Share & Forecast

7.2.1.By Vehicle Type (Medium Duty Truck and Medium Duty Bus)

7.2.2.By End Use Industry

8. Import-Export Analysis

9. Supply Chain Analysis

10. Market Dynamics

10.1. Drivers

10.2. Challenges

11. Policy & Regulatory Landscape

12. Market Trends & Developments

12.1. Adoption of BS IV Standards

12.2. Increasing Geographical Diversification

12.3. Rising Replacement Led Demand

12.4. Rising Ancillarisation

12.5. Rising Demand for Electric and CNG Buses

13. India Economic Profile

14. Competitive Landscape

14.1. Tata Motors Limited

14.2. Mahindra & Mahindra Limited

14.3. Ashok Leyland Limited

14.4. SML Isuzu Limited

14.5. Force Motors Limited

14.6. Hindustan Motors Limited

14.7. VE Commercial Vehicles Limited

14.8. Piaggio Vehicles Private Limited

14.9. Daimler India Commercial Vehicles Pvt. Ltd.

14.10. AMW Motors Ltd.

15. Strategic Recommendations

Figures and Tables

List of Figures

Figure 1: India Commercial Vehicles Market Size, By Value (USD Billion), By Volume (Thousand Units), FY2012-FY2022F

Figure 2: India Commercial Vehicles Market Share, By Vehicle Type, By Volume, FY2016-FY2022F

Figure 3: India Commercial Vehicles Market Share, By Company, By Volume, FY2016-FY2022F

Figure 4: India Commercial Vehicles Market Share, By Region, By Volume, FY2016-FY2022F

Figure 5: India Heavy Commercial Vehicles Market Size, By Value (USD Billion), By Volume (Thousand Units), FY2012-FY2022F

Figure 6: India Heavy Commercial Vehicles Market Share, By Vehicle Type, By Volume, FY2016-FY2022F

Figure 7: India Heavy Commercial Vehicles (Truck) Market Share, By End Use Industry, By Volume, FY2016-FY2022F

Figure 8: India Heavy Commercial Vehicles (Bus) Market Share, By End Use Industry, By Volume, FY2016-FY2022F

Figure 9: India Light Commercial Vehicles Market Size, By Value (USD Billion), By Volume (Thousand Units), FY2012-FY2022F

Figure 10: India Light Commercial Vehicles Market Share, By Vehicle Type, By Volume, FY2016-2022F

Figure 11: India Light Commercial Vehicles Market Share, By End Use Industry, By Volume, FY2016-FY2022F

Figure 12: India Medium Commercial Vehicles Market Size, By Value (USD Billion), By Volume (Thousand Units), FY2012-FY2022F

Figure 13: India Medium Commercial Vehicles Market Share, By Vehicle Type, By Volume, FY2016-FY2022F

Figure 14: India Medium Commercial Vehicles (Truck) Market Share, By End Use Industry, By Volume, FY2016-FY2022F

Figure 15: India Medium Commercial Vehicles (Bus) Market Share, By End Use Industry, By Volume, FY2016-FY2022F

List of Tables

Table 1: FDI in India Automobile Market, By Value (USD Million), FY2014-FY2016

Table 2: FDI in India Construction Development Market, By Value, FY2014-FY2016 (USD Million)

Table 3: India Commercial Vehicle Production, By Volume, FY2012-FY2016 (Thousand Units)

Table 4: Infrastructure Projects in India

Table 5: India Commercial Vehicle Imports and Exports, By Value, FY2015 & FY2016 (USD Million)

Table 6: India Commercial Vehicle Imports and Exports, By Volume, FY2015 & FY2016 (Thousand Units)

Table 7: India Trade Agreements

Frequently asked questions

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Srishti Verma

Business Consultant

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Press Release

India Commercial Vehicles Market to Grow at CAGR 14% till 2021

Nov, 2016

Anticipated growth in construction, manufacturing and logistics sectors, coupled with increasing focus on tourism industry by central as well as various state governments to propel India commercial v

India Commercial Vehicles Market By Vehicle Type (Light, Medium and Heavy), By End Use Industry (Passenger Transportation, Logistics, Mining, and Construction), Competition Forecast and Opportunities, 2021

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