Two decades ago, India opened its doors for multinational automobile companies allowing them to penetrate the market, modernize the Indian transportation picture and make it beneficial for the end-users. Since then, several firms have established their production units in the country, offering a wide range of vehicles to vast population. According to our latest report, the Indian commercial vehicle market has grown by leaps and bounds due to economic liberalization, and it has bright prospects as production and sales are reaching new heights.
The “India Commercial Vehicle Market Analysis” observed that the commercial vehicle segment of the Indian automobile industry has shown great recovery after withstanding the effects of the global economic crisis. With economic revival, increasing public & private spending on infrastructure and higher penetration of financing facilities, we expect the growth trend in each segment of commercial vehicles to continue in the coming years. As per our analysis, LCV goods carrier is the fastest growing segment that is estimated to register a sales growth of around 20% during FY 2012-FY 2015.
Our report has studied the Indian commercial vehicle market from various perspectives. It facilitates information on production, sales, exports and key players in each segment (M&HCV, LCV and three-wheelers) that has been further divided into passenger carrier and goods carrier sections. A comprehensive study on commercial vehicle tyre has also been included in the extensive research, which also foresees growth in CV auto component industry.
We observed that hub and spoke model and small commercial vehicles are among the major trends which would drive the Indian CV market in near future. During the regional analysis, it was found that South India leads the country in terms of commercial vehicle market. Besides, the growth in the CV industry will boost up demand for used commercial vehicles in coming years.
With a view to understanding the industry's competitive landscape and presenting its balanced outlook to clients, we have included profiles of key players like Tata Motors and Ashok Leyland in our research study.
