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India Commercial Vehicle Market

Publisher BlueWeave Consulting
Published Jul 07, 2023
Length 260 Pages
SKU # BLWC18132056

Description

India Commercial Vehicle Market, By Vehicle Type (Light Commercial Vehicles (LCVs), Heavy Trucks, Buses & Coaches); By Fuel Type (Internal Combustion Engine (ICE), Electric); By End Use (Industrial, Mining & Construction, Logistics, Passenger Transportation); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019–2029


India Commercial Vehicle Market Size Set to Expand at Significant CAGR of 10.45% During 2023–2029

India commercial vehicle market is rapidly growing due to increasing infrastructure development, thriving e-commerce industry, government initiatives to boost manufacturing and transportation sectors, rising demand for logistics services, and the implementation of stricter emission norms encouraging fleet modernization.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the India commercial vehicle market size to grow at a significant CAGR of 10.45% during the forecast period between 2023 and 2029. The increasing demand for electric and hybrid commercial vehicles is one of the major reasons driving the growth of the India commercial vehicle market. Also, there has been a greater emphasis on connectivity and digitization in the sector, with the incorporation of innovative technologies, such as telematics and fleet management systems. Due to the rapid growth of the e-commerce and logistics sectors, there is a growing demand for last-mile delivery trucks. A desire for greater payload capacity and fuel efficiency has resulted in the introduction of novel designs and lightweight materials in commercial vehicle construction.

India Commercial Vehicle Market – Overview


Modern economies rely heavily on commercial vehicles to meet varied industry needs and transit requirements. They include a variety of automobiles, generally made for commercial use, such as trucks, vans, buses, and taxis. These vehicles are used in supply chains, logistics, public transit, and delivery services and are used to convey goods, persons, or both. Commercial vehicles frequently include specialized characteristics for particular sectors and are engineered to resist big weights while being durable and dependable. Commercial vehicles are progressively adopting eco-friendly and electric-powered solutions thanks to technological improvements, which help the transportation sector be more sustainable and emit fewer pollutants.

Impact of COVID-19 on India Commercial Vehicle Market

The COVID-19 pandemic significantly impacted the India commercial vehicle market, causing disruptions and challenges across the industry. With the imposition of nationwide lockdowns and travel restrictions, demand for commercial vehicles plummeted as economic activities came to a halt. The closure of manufacturing units and supply chain disruptions further hampered the production and delivery of commercial vehicles. Also, reduced business activities and financial uncertainties led to a decline in fleet expansions and replacements. Thus, the market witnessed a sharp decline in sales and revenue, causing financial strain for manufacturers and dealers. Now, the recovery of the India commercial vehicle market is on track post the containment of the novel corona virus.

India Commercial Vehicle Market – By End Use

On the basis of end use, India commercial vehicle market is divided into Industrial, Mining & Construction, Logistics, and Passenger Transportation segments. Logistics is the largest segment. The logistics sector plays a crucial role in facilitating the movement of goods across the country, catering to the demands of various industries. With India's growing economy and increasing trade activities, the demand for efficient transportation and logistics services has witnessed substantial growth. This has led to a significant expansion in the logistics segment of the commercial vehicle market. The logistics segment encompasses a wide range of vehicles, including trucks, trailers, and other transport solutions, serving the needs of e-commerce, retail, manufacturing, and other sectors involved in the supply chain.

Competitive Landscape

India commercial vehicle market is fiercely competitive. Major companies in the market include Ashok Leyland, Bosch Rexroth AG, Daimler, Volkswagen AG, Toyota Motor Corporation, Mahindra and Mahindra, TATA Motors, AB Volvo, Golden Dragon, and General Motors. These companies use various strategies, including increasing investments in their R&D activities, mergers and acquisitions, joint ventures, collaborations, licensing agreements, and new product releases to further strengthen their position in India commercial vehicle market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Commercial Vehicle Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Commercial Vehicle Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Table of Contents

260 Pages
1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Executive Summary
3. India Commercial Vehicle Market Insights
3.1. Industry Value Chain Analysis
3.2. DROC Analysis
3.2.1. Growth Drivers
3.2.1.1. Increasing infrastructure development
3.2.1.2. Rising E-commerce sector
3.2.2. Restraints
3.2.2.1. Fluctuation in fuel prices
3.2.3. Opportunities
3.2.3.1. Advancements in technology
3.2.4. Challenges
3.2.4.1. Environmental concerns
3.3. Technology Advancements/Recent Developments
3.4. Regulatory Framework
3.5. Porter’s Five Forces Analysis
3.5.1. Bargaining Power of Suppliers
3.5.2. Bargaining Power of Buyers
3.5.3. Threat of New Entrants
3.5.4. Threat of Substitutes
3.5.5. Intensity of Rivalry
4. India Commercial Vehicle Market Overview
4.1. Market Size & Forecast, 2019–2029
4.1.1. By Value (USD Million)
4.2. Market Share & Forecast
4.2.1. By Vehicle Type
4.2.1.1. Light Commercial Vehicles (LCVs)
4.2.1.2. Heavy Trucks
4.2.1.3. Buses & Coaches
4.2.2. By Fuel Type
4.2.2.1. IC Engine
4.2.2.2. Electric
4.2.3. By End Use
4.2.3.1. Industrial
4.2.3.2. Mining & Construction
4.2.3.3. Logistics
4.2.3.4. Passenger Transportation
4.2.3.5. Others
4.2.4. By Region
4.2.4.1. North India
4.2.4.2. South India
4.2.4.3. East India
4.2.4.4. West India
5. North India Commercial Vehicle Market
5.1. Market Size & Forecast, 2019–2029
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
5.2.1. By Vehicle Type
5.2.2. By Fuel Type
5.2.3. By End Use
6. South India Commercial Vehicle Market
6.1. Market Size & Forecast, 2019–2029
6.1.1. By Value (USD Million)
6.2. Market Share & Forecast
6.2.1. By Vehicle Type
6.2.2. By Fuel Type
6.2.3. By End Use
7. East India Commercial Vehicle Market
7.1. Market Size & Forecast, 2019–2029
7.1.1. By Value (USD Million)
7.2. Market Share & Forecast
7.2.1. By Vehicle Type
7.2.2. By Fuel Type
7.2.3. By End Use
8. West India Commercial Vehicle Market
8.1. Market Size & Forecast, 2019–2029
8.1.1. By Value (USD Million)
8.2. Market Share & Forecast
8.2.1. By Vehicle Type
8.2.2. By Fuel Type
8.2.3. By End Use
9. Competitive Landscape
9.1. List of Key Players and Their Offerings
9.2. India Commercial Vehicle Company Market Share Analysis, 2022
9.3. Competitive Benchmarking, By Operating Parameters
9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Commercial Vehicle Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
11.1. Ashok Leyland
11.2. Bosch Rexroth AG
11.3. Daimler
11.4. Volkswagen AG
11.5. Toyota Motor Corporation
11.6. Mahindra and Mahindra
11.7. TATA Motors
11.8. AB Volvo
11.9. Golden Dragon
11.10. General Motors
11.11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
13.1. Qualitative Research
13.1.1. Primary & Secondary Research
13.2. Quantitative Research
13.3. Market Breakdown & Data Triangulation
13.3.1. Secondary Research
13.3.2. Primary Research
13.4. Breakdown of Primary Research Respondents, By Region
13.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
Figure 1 India Commercial Vehicle Segmentation
Figure 2 India Commercial Vehicle Market Value Chain Analysis
Figure 3 Company Market Share Analysis, 2022
Figure 4 India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Figure 5 India Commercial Vehicle Market Share, By Vehicle Type, By Value, 2019–2029
Figure 6 India Commercial Vehicle Market Share, By Fuel Type, By Value, 2019–2029
Figure 7 India Commercial Vehicle Market Share, By End Use, By Value, 2019–2029
Figure 8 North India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Figure 9 North India Commercial Vehicle Market Share, By Vehicle Type, By Value, 2019–2029
Figure 10 North India Commercial Vehicle Market Share, By Fuel Type, By Value, 2019–2029
Figure 11 North India Commercial Vehicle Market Share, By End Use, By Value, 2019–2029
Figure 12 South India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Figure 13 South India Commercial Vehicle Market Share, By Vehicle Type, By Value, 2019–2029
Figure 14 South India Commercial Vehicle Market Share, By Fuel Type, By Value, 2019–2029
Figure 15 South India Commercial Vehicle Market Share, By End Use, By Value, 2019–2029
Figure 16 East India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Figure 17 East India Commercial Vehicle Market Share, By Vehicle Type, By Value, 2019–2029
Figure 18 East India Commercial Vehicle Market Share, By Fuel Type, By Value, 2019–2029
Figure 19 East India Commercial Vehicle Market Share, By End Use, By Value, 2019–2029
Figure 20 West India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Figure 21 West India Commercial Vehicle Market Share, By Vehicle Type, By Value, 2019–2029
Figure 22 West India Commercial Vehicle Market Share, By Fuel Type, By Value, 2019–2029
Figure 23 West India Commercial Vehicle Market Share, By End Use, By Value, 2019–2029
List of Tables
Table 1 India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Table 2 India Commercial Vehicle Market Size, By Vehicle Type, By Value, 2019–2029
Table 3 India Commercial Vehicle Market Size, By Fuel Type, By Value, 2019–2029
Table 4 India Commercial Vehicle Market Size, By End Use, By Value, 2019–2029
Table 5 North India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Table 6 North India Commercial Vehicle Market Size, By Vehicle Type, By Value, 2019–2029
Table 7 North India Commercial Vehicle Market Size, By Fuel Type, By Value, 2019–2029
Table 8 North India Commercial Vehicle Market Size, By End Use, By Value, 2019–2029
Table 9 South India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Table 10 South India Commercial Vehicle Market Size, By Vehicle Type, By Value, 2019–2029
Table 11 South India Commercial Vehicle Market Size, By Fuel Type, By Value, 2019–2029
Table 12 South India Commercial Vehicle Market Size, By End Use, By Value, 2019–2029
Table 13 East India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Table 14 East India Commercial Vehicle Market Size, By Vehicle Type, By Value, 2019–2029
Table 15 East India Commercial Vehicle Market Size, By Fuel Type, By Value, 2019–2029
Table 16 East India Commercial Vehicle Market Size, By End Use, By Value, 2019–2029
Table 17 West India Commercial Vehicle Market Size, By Value (USD Million), 2019–2029
Table 18 West India Commercial Vehicle Market Size, By Vehicle Type, By Value, 2019–2029
Table 19 West India Commercial Vehicle Market Size, By Fuel Type, By Value, 2019–2029
Table 20 West India Commercial Vehicle Market Size, By End Use, By Value, 2019–2029
Table 21 Ashok Leyland Company Overview
Table 22 Ashok Leyland Financial Overview
Table 23 Bosch Rexroth AG Company Overview
Table 24 Bosch Rexroth AG Financial Overview
Table 25 Daimler Company Overview
Table 26 Daimler Financial Overview
Table 27 Volkswagen AG Company Overview
Table 28 Volkswagen AG Financial Overview
Table 29 Toyota Motor Corporation Company Overview
Table 30 Toyota Motor Corporation Financial Overview
Table 31 Mahindra and Mahindra Company Overview
Table 32 Mahindra and Mahindra Financial Overview
Table 33 TATA Motors Company Overview
Table 34 TATA Motors Financial Overview
Table 35 AB Volvo Company Overview
Table 36 AB Volvo Financial Overview
Table 37 Golden Dragon Company Overview
Table 38 Golden Dragon Financial Overview
Table 39 General Motors Company Overview
Table 40 General Motors Financial Overview

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