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.