Tamil Nadu small commercial
vehicle market may register an impressive growth with an estimated CAGR during
the forecast period, 2023-2027, on account of growing sales of the light
commercial vehicles in the state. During last fiscal year since April 2021 to
February 2022, national sales for the small commercial scale was 14% but Tamil
Nadu reached 30% increase in the small commercial vehicle sales. Relaxation
after COVID-19 regulations last year, the automotive industry was reinstated,
and a sudden boom was experienced since the urbanization was further increasing
in the state. With relative possibilities of mobility, demands for personal
transports, and last-mile goods transportation is further driving the growth of
the Tamil Nadu small commercial vehicle market in the upcoming five years.
Expanding Automotive Industry
In Tamil Nadu Promises Market Growth
Growing expansion of
automotive industry in the state is one of the major factors responsible for
the growth of the Tamil Nadu small commercial vehicle market in the upcoming
five years. The state government is further supporting the market growth
through favorable tax incentives. Lowering the tax percentage for the
registration of the vehicles further supported the sales of the small
commercial vehicles in the state. In 2021, around 20.75 thousand units of small
commercial vehicles were sold in Tamil Nadu. According to state records, Tamil
Nadu accounts for over 10% of all vehicles registered in the country.
Moreover, tax benefits for
the new market players setting their production units in the state are also
aiding the growth of the market. Small commercial vehicle manufacturers in the
state also enjoy the slabs offered to them as tax benefits thereby aiding the
growth of the Tamil Nadu small commercial vehicle market in the next five
years. Tax benefits help with lowering the cost of the small commercial
vehicles and thus increasing the sales in the state.
Global Leaders Presence
Profits Market
Presence of global market
players like Hyundai Motors, Tata Motors, Ashok Leyland, etc. is driving the
growth of the Tamil Nadu small commercial vehicle market in the upcoming five
years. Research and product development accelerates due to the presence of
global market players. Technological advancement in the automobiles and its OEM
parts is also available that leads the market growth. Global players entering
the market are well supported financially, and with flexible tax incentives,
and further invitation from the government to set up the plants in the state, the
Tamil Nadu small commercial vehicle market is bound to experience growth in the
upcoming five years.
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Market Segmentation
The
Tamil Nadu 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.
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. The market analysis also studies the top 5 cities analysis, that are Chennai,
Coimbatore, Madurai, Tambaram, Tiruppur.
Company Profile
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 Tamil Nadu Private Limited, Saera Electric Auto Pvt. Ltd., among others is a partial
list of major market players of the companies responsible for the growth of Tamil
Nadu small commercial vehicle market.
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Attribute
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Details
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Base Year
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2021
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Historical Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, and CAGR for 2017-2021
and 2022-2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Vehicle Tonnage
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Industry
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Propulsion
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Cities scope
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Chennai, Coimbatore, Madurai, Tambaram, Tiruppur, rest of Tamil
Nadu.
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Key companies profiled
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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 Tamil Nadu
Private Limited, Saera Electric Auto Pvt. Ltd.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to cities & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, Tamil Nadu small commercial vehicle market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- Tamil Nadu Small Commercial Vehicle
Market, By Vehicle Tonnage:
- Less Than 1 ton
- 1 - 2 Ton
- 2 - 3 Ton
- Tamil Nadu Small Commercial Vehicle
Market, By Industry:
- E-commerce
- FMCG
- Pharma
- Electronics
- Construction
- Agricultural
- Hospitality
- Forestry
- Oil & Gas
- Others
- Tamil Nadu Small Commercial Vehicle
Market, By Propulsion:
- Tamil Nadu Small Commercial Vehicle
Market, By Top 5 Cities:
o Chennai
o Coimbatore
o Madurai
o Tambaram
o Tiruppur
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Tamil Nadu small commercial vehicle 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).
Tamil Nadu Small Commercial Vehicle 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]