The Uttar Pradesh small
commercial vehicle market is expected to witness a growth of steady CAGR in the
forecast period, 2023-2027. Small commercial vehicles are majorly used to carry
and distribute heavy loads through narrow roads & passages. There is a need
to adopt small commercial vehicles to ensure the efficient functioning of the
logistics and transportation industry in cities, towns, and villages to support
the state's huge ongoing trade activities. The construction and infrastructural
development projects in Uttar Pradesh and the increasing popularity of the
e-commerce channels in remote locations are the primary factors driving the
demand for small commercial vehicles. Also, the launch of superior small
commercial vehicles having higher fuel efficiency and efficiency into the
market is expected to create lucrative growth opportunities for the Uttar
Pradesh small commercial vehicle in the forecast period.
Ongoing Construction
Activities Drives the Market Demand
The government of Uttar
Pradesh is rigorously working on improving the state's infrastructure and
providing world-class facilities to all of its residents. The construction of
expressways by the government to make connectivity easier between different
cities and villages is accelerating the demand for small commercial vehicles.
Major projects such as the Purvanchal Expressway, Ganga Expressway, Gorakhpur
Link Expressway, and Bundelkhand Expressway are being constructed and require
the transportation of construction materials to the construction site. The
Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), the agency
set up by the state government to support the expansion program, uses
construction equipment and vehicles to complete the construction process. Also,
the allocation of massive funds by the government for infrastructure
development, such as the construction of railways, hospitals, schools, offices,
and other buildings, is fueling the demand for commercial vehicles as they have
higher load carrying capacity and take up less fuel than the conventional
vehicles. The huge number of ongoing construction and infrastructural
development projects is expected to boost the growth of the Uttar Pradesh small
commercial vehicle market for the next five years.
High Demand for Manufacturing
Industries Supports the Market Growth
Small commercial vehicles are
used in the transportation and logistics industry to carry goods from
industries to end-users and for other purposes. Uttar Pradesh is the largest
industrial state in the country, and it is a source of many important minerals and
gems. Sulfur, limestone, silica sand, pyrophyllite, dolomite, and silica sand
are minerals found in Uttar Pradesh that needs to be carried from the
extraction and mining area to the processing area. Mirzapur cement plants,
mother dairy fruit and vegetable private limited, havells india limited,
patanjali food & herbal park noida private limited, honda cars india
limited, bajaj hindusthan sugar limited, dhampur sugar mills limited, haldiram
snacks private limited are some of the major industries which are well-known
and produce a significant amount of revenue. The government is encouraging
foreign industries to come and invest in the set-up of manufacturing plants in
Uttar Pradesh. In 2021, around 40.41 thousand units of small commercial
vehicles were sold in Uttar Pradesh. The high domestic demand and the need to
import and export goods and other materials in Uttar Pradesh are expected to
fuel the Uttar Pradesh small commercial vehicle market growth for the forecast
period.
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Market Segmentation
The Uttar Pradesh small
commercial vehicle market is segmented into vehicle
tonnage, industry, propulsion, competitive landscape, and regional
distribution. Based on vehicle tonnage, the market is divided into less than 1
ton, 1 - 2 ton, and 2 - 3 ton. Based on industry, the market is divided into e-commerce,
FMCG, pharma, electronics, construction, agricultural, hospitality, forestry,
oil & gas, and others. Based on propulsion, the market is divided into ICE
and electric. The market is also studied by
dividing Uttar Pradesh into cities namely Kanpur, Prayagraj, Agra, Ghaziabad,
Noida.
Market Players
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 Uttar Pradesh Private
Limited, Saera Electric Auto Pvt. Ltd are the major market players leading the Uttar
Pradesh small commercial vehicle market growth.
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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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Historic 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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City scope
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Kanpur, Prayagraj, Agra, Ghaziabad, Noida
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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 Uttar Pradesh 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 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, Uttar Pradesh small
commercial vehicle market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Uttar Pradesh Small Commercial Vehicle Market, By Vehicle Tonnage:
- Less Than 1 ton
- 1 - 2 Ton
- 2 - 3 Ton
- Uttar Pradesh Small Commercial Vehicle Market, By Industry:
- E-commerce
- FMCG
- Pharma
- Electronics
- Construction
- Agricultural
- Hospitality
- Forestry
- Oil & Gas
- Others
- Uttar Pradesh Small
Commercial Vehicle Market, By Propulsion:
- Uttar Pradesh Small
Commercial Vehicle Market, By City:
- Kanpur
- Prayagraj
- Agra
- Ghaziabad
- Noida
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Uttar Pradesh 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).
Uttar Pradesh small commercial vehicle
market is an upcoming report to be released soon. If you wish an early delivery
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