16 To 30 Tons Truck Dominates The India Truck Market
Rapidly growing logistics
sector coupled with increasing mining, construction and infrastructure projects
to drive India truck market through 2023
According
to TechSci Research report, “India Truck Market, By Vehicle Type, By Fuel Type, By Application, By Tonnage,
Competition Forecast & Opportunities, FY2013-FY2023”, the country’s truck market is projected to surpass
$ 16 billion by 2023, backed by growing construction and mining activities in the country. Furthermore,
continuous improvement in road infrastructure coupled with booming logistics
sector is further likely to push demand for trucks across the country in the
coming years. Tata Motors Limited is the leader in India truck market, followed
by Ashok Leyland Limited, VE Commercial Vehicles Limited and Mahindra &
Mahindra Limited, among others.
Browse 48 market data Figures and 12 Tables
spread through 101 Pages and an in-depth TOC on "India Truck Market"
https://www.techsciresearch.com/report/india-truck-market/3133.html
With a volume share of over 35% in India truck market in 2017, trucks
with tonnage capacity of 16 tons-30 tons dominated the India truck market,
followed by 7.5 tons-16 tons capacity truck segment. Western region of India
accounts for the largest share in India truck market, followed by Southern, Northern
and Eastern regions. Major factors driving the demand for trucks in Western
region are rising number of infrastructure projects such as semi high-speed trains,
smart cities, dedicated freight corridors along with sea port development and
comparatively higher manufacturing activities by construction companies in the
region. However, Northern and Southern regions of the country are anticipated
to witness comparatively faster pace in demand for trucks during the forecast
period.
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“Rising
demand for trucks by fleet owners for providing transporting solution for logistics
industry, e-commerce industry, mining and construction industry, etc., is
anticipated to propel growth in India truck market over the next five years. Though,
the country’s truck market is highly competitive and leading manufacturers are fast
adopting to changing market scenario, rapidly changing government norms and
regulations such as the new axle load regulation and upcoming BS VI implementation
is expected to keep truck manufacturers on their toes over the next five years.
Moreover, easy availability of finance and continuously expanding product offerings
of major truck players is anticipated to fuel truck sales across the country
through 2023.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“India Truck Market By
Vehicle Type, By Fuel Type, By Application, By Tonnage, Competition Forecast
& Opportunities, FY2013-FY2023” has analyzed the potential of truck market in India, and
provides statistics and information on market sizes, shares and trends. The
report will suffice in providing the intending clients with cutting-edge market
intelligence and help them in taking sound investment decisions. Besides, the
report also identifies and analyzes emerging trends along with essential
drivers and key challenges faced by the truck market across India.
About TechSci Research
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growth markets helps TechSci clients to lead rather than follow market trends.
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