India Automotive Engines Market to Remain Dominated by Passenger Car Segment
Increasing
production, sales and export volume of passenger cars and commercial vehicles to
boost demand for automotive engines in India
According to TechSci Research
report, “India
Automotive Engines Market By Fuel Type, By Power, By End Use, By Technology,
By Region, Competition, Forecast & Opportunities, 2025”, India automotive engines market
stood at an estimated 5 million units due to increase in
production, sales and export of vehicles in India.
Moreover, presence
of reputed automotive engine manufacturers in India has a huge positive
influence on the country’s automotive engines market.
India automotive
engines market can be segmented based on by fuel type, by power, by end use, by
technology and by region. In terms of end use, the market is segregated into passenger
car, light commercial vehicle, buses & coaches and heavy trucks. Among
these, passenger car segment is expected
to remain the dominant segment in India automotive engines market due to rapidly
growing passenger car production and sales in the country attributable to rise
in the disposable income of consumers and growing population.
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In terms of fuel
type, the market can be segmented into petrol, diesel and gas based engine. Out
of these, the petrol segment accounted for the largest market share in volume terms
in 2019, on account of low initial cost, low maintenance cost, dominating share
of passenger cars in Indian automotive fleet size and supportive government
initiatives towards promoting the use of clean energy in the country by
introducing BS VI regulations.
Maruti Suzuki
India Ltd, Hyundai Motor
India Ltd, Mahindra & Mahindra Ltd,
Tata
Motors Ltd and others which include Ashok Leyland
Ltd, Toyota Kirloskar Motor Pvt
Ltd, Honda
Cars India Ltd, Cummins India
Ltd, etc., are the
leading players operating in India automotive engines market. In terms of
regional analysis, the market has been segmented into North, East, West and
South region. Among them, North region accounts for the highest share in India
automotive engines market due to the presence of various prominent automakers
like Maruti, Tata Motors, Honda, Mahindra & Mahindra, etc.
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“Increase in the production
capacity of domestic vehicle manufacturers, expansion of product portfolio and introduction
of new vehicle models are fueling the demand for automotive engines in India.
However, the introduction of BS VI mandate in the country’s automotive
industry, economic slowdown and lockdown in the entire country due to the
outbreak of Coronavirus is expected to hamper the growth of automotive engines
market in India in 2020.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Automotive Engines Market By Fuel Type, By Power,
By End Use, By Technology, By Region, Competition, Forecast &
Opportunities, 2025” has evaluated the future growth potential of India automotive
engines market and provides statistics & information on market size,
structure and future market growth. The report intends to provide latest market
intelligence and help decision makers to take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in India automotive engines
market.
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