Report Description

India truck market is anticipated to grow with an estimated CAGR in the forecast years FY2023-FY2027, on the grounds of surging demands for the logistics trucks for the transportation of products. Higher prevalence of smaller quantities of product transportation along with the demand for transportation of products in the difficult terrain like hilly regions, and desert lands, are further driving the growth of the India truck market in the upcoming five years. Expanding growth of the automotive industry along with the growing businesses of the multiple market players are also supporting the market growth in the next five years.

High Production Drives Market Growth

Increasing demand for the light commercial trucks for lighter products in smaller quantities along with surging demands for the transportation of heavy duty equipment and machinery for various purposes are aiding the demands for heavy duty trucks and thus driving the growth of the India truck market in the upcoming five years. Higher demands have also aided to the higher production of the trucks in the country. With market players that even penetrate the international market with their products, the production of trucks in India have skyrocketed in recent years.

More than 123 thousand heavy trucks were produced in India in the year 2020. Although this scale was half of the previous years, the decrease in the production was observed due to imposed lockdown due to widespread COVID-19. Since the lockdown has been relaxed and manufacturing units, and industrial productions have resumed this FY2021, the market is anticipated to regain its high production capacity and aid the market growth in the future five years.

Expanding Logistics Demand For Difficult Terrain Support Market Growth

India has been developing for more than half a century. Though demands for further development, technological advancements, and various service availability in some of the regions of the country is pending. In most cases, difficult terrain, difficulty in reaching the regions, and environmental factors like weather, landslides, heavy rainfalls, etc. play vital roles. The government is also taking initiatives to reach these regions and provide the required services. To transport, and transfer products and services, light commercial trucks are often utilized.

With advancement in their terrain specific tires, better mileage trucks, etc. the logistics industry is facilitating the transportation and aiding the growth of the India truck market. In the FY2021, 395.78 thousand light duty trucks were sold in the country. Transportation becomes easier with the light commercial trucks.

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Market Segmentation

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. Propulsion based market segment is further differentiated between ICE (internal combustion engine) and electric. On the basis of class, the market is fragmented into class 1, class 2, class 3, class 4, class 5, class 6, class 7, and class 8. Based on application, the market is also sub-segmented into logistics, construction, mining, and others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North India region, South India region, East India region, and West India region.

Company Profile

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., are some of the major market players in the country that lead the market growth analysis. New market players are also actively entering the market in the recent years and further strengthening the growth of the future market growth.



Base Year


Historic Data

FY2017 – FY2020

Estimated Year


Forecast Period

FY2023 – FY2027

Quantitative Units

Revenue in USD Million, Volume in units and CAGR for FY2017 – FY2020 and FY2023 – FY2027

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Vehicle Type

·         Propulsion

·         Class

·         Application

Regional scope

North; South; East; West;

Key companies profiled

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.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)


Report Scope:

In this report, India truck market is segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India Truck Market, By Vehicle Type:

    • Light Duty Truck
    • Medium Duty Truck
    • Heavy Duty Truck
  • India Truck Market, By Propulsion:

o   ICE

o   Electric

  • India Truck Market, By Class:
    • Class 1
    • Class 2
    • Class 3
    • Class 4
    • Class 5
    • Class 6
    • Class 7
    • Class 8
  • India Truck Market, By Application:
    • Logistics
    • Construction
    • Mining
    • Others
  • India Truck Market, By Region:
    • South
    • West
    • North
    • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India truck market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

India Truck Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on India Truck Market

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Aided Brand Recall and Unaided Brand Recall

5.3.  Brand Satisfaction Level

6.    India Truck Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value and Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Light Duty Truck, Medium Duty Truck, Heavy Duty Truck)

6.2.2.     By Propulsion (ICE, Electric)

6.2.3.     By Class (Class 1, Class 2, Class 3, Class 4, Class 5, Class 6, Class 7, Class 8)

6.2.4.     By Application (Logistics, Construction, Mining, Others)

6.2.5.     By Region (East, West, North, South)

6.2.6.     By Company (2021)

6.3.  Product Market Map (By Vehicle Type, By Propulsion, By Class, By Application, By Region)

7.    India Light Duty Truck Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value and Volume

7.2.  Market Share & Forecast

7.2.1.     By Propulsion

7.2.2.     By Class

7.2.3.     By Application

7.3.  Product Benchmarking

8.    India Medium Duty Truck Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value and Volume

8.2.  Market Share & Forecast

8.2.1.     By Propulsion

8.2.2.     By Class

8.2.3.     By Application

8.3.  Product Benchmarking

9.    India Heavy Duty Truck Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value and Volume

9.2.  Market Share & Forecast

9.2.1.     By Propulsion

9.2.2.     By Class

9.2.3.     By Application

9.3.  Product Benchmarking

10.  Market Dynamics

10.1.              Drivers

10.2.              Challenges

11.  Market Trends and Developments

12.  Policy and Regulatory Landscape

13.  India Economic Profile

14.  Competitive Landscape

14.1.              Company Profiles (Partial List of Leading Companies)

14.1.1.  Tata Motors Limited

14.1.2.  Hinduja Group (Ashoke Leyland)

14.1.3.  Mahindra & Mahindra Limited

14.1.4.  Eicher Motors Limited

14.1.5.  Asia Motor Works Ltd

14.1.6.  Hindustan Motors

14.1.7.  Force Motors Ltd

14.1.8.  Daimler Truck AG

14.1.9.  Volvo Group

14.1.10.                Isuzu Motors Ltd.

 15. Strategic Recommendations

Figures and Tables

Frequently asked questions


India truck market is anticipated to grow with an impressive CAGR during the forecast period on account of surging demands for the light commercial trucks for the logistics purposes.


In the recent pandemic situation, India’s production capacities were drastically affected. Lockdown situation further halt the productions and facilitations of the transportation. Although for the logistic services for the transportation of medical supplies may have created higher demands, but the production of the trucks halved in comparison to previous years production capabilities.


New market players may invest actively in research and innovative product development. Also, advancing their existent technology according to evolving consumer preferences along with merger and acquisitions with the global giants can be viable strategic recommendations for the future brand establishments.


Global giants in the country like Tata Motors Limited, Hinduja Group (Ashoke Leyland), Mahindra & Mahindra Limited, Eicher Motors Limited, Asia Motor Works Ltd, among others form a partial list of the market players that may dominate the future India truck market with their innovative product line.


Srishti Verma

Business Consultant
Press Release

India Truck Market To Establish Growth With Impressive CAGR Until FY2027

Mar, 2022

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