Rajasthan Small Commercial Vehicle Market to Grow With Impressive CAGR until 2027
Rajasthan
Small Commercial Vehicle Market is anticipated to grow with increasing freight
services, in the forecast period, 2023-2027F.
According to TechSci report on, “Rajasthan
Small
Commercial Vehicle Market - By
Top 5 Cities, Competition Forecast & Opportunities, 2027” Rajasthan
small commercial vehicle market might register an impressive CAGR during the
forecast period, 2023-2027, to establish growth due to factors like growing
sales for the small commercial vehicles in the state. Surge in the demand for
small commercial vehicles from construction industry and expanding construction
industry is further driving the growth of the Rajasthan small commercial
vehicle market in the upcoming five years. Also, growing e-commerce sector and
surging demands for faster delivery services is also supporting the growth of
the Rajasthan small commercial vehicle market in the next five years. Additionally,
development of the automotive industry, increase in the industrial activities
and the expansions of the end use industries are some of the major factors
responsible for the growth of the Rajasthan small commercial vehicle market in
the future five years. Rapid adaptation of electronic vehicles, and battery
powered small commercial vehicles are also substantiating the growth of the
Rajasthan small commercial vehicle market in the forecast years through 2027.
Strict
environmental regulations, demand to cut short the fuel usage and save
environment of the toxic exhausts out of the vehicles have aided to the growing
demands for electric small commercial vehicles in the recent years. The
government is highly inclined to focus its resources to promote the use of
electric vehicles. With surge in the demands from the logistic services and
growing demand for the small-scale transportation, the requirement for the
small commercial vehicle is expanding and government is growing highly
concerned for the degradation of environment. Moreover, increasing investment
in the advancement of the efficient vehicles, and rapid product line
development by the market players in the state is further aiding the growth of
the Rajasthan small commercial vehicle market in the forecast period.
Browse over XX market data Figures
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in-depth TOC on "Rajasthan Small commercial
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The
Rajasthan small commercial vehicle market is segmented by vehicle tonnage,
industry, propulsion, competitional landscape, and regional distribution. Based
on vehicle tonnage, the market is further segmented into less than 1 ton, 1 - 2
ton, and 2 - 3 ton. 2 – 3 tons vehicles are anticipated to hold the largest
revenue shares of the market and dominate the market in the upcoming five years
on the account of increasing demand for the efficient small commercial vehicles
in the end use industries. 2 - 3 tons vehicles can transport larger freight
load and travel for longer distances. Also, these vehicles can travel in
difficult terrains better as compared to the lighter small commercial vehicles.
Less than 1 ton vehicles may also hold significant shares of the market owing
to their demands for transporting smaller loads of goods & products.
By
industry, the market is fragmented into E-commerce, FMCG, pharma, electronics,
construction, agricultural, hospitality, forestry, oil & gas, and others. FMCG
industry is anticipated to hold the largest revenue shares of the market and
dominate the market segment in the upcoming five years on grounds of increasing
demand for the transportation and distribution of the FMCG products for shorter
distances. Maintaining the shelf life of the FMCG product is a major concern
that demands for the products to be transported for short distances and with
efficiency to maintain the shelf life of the products. E-commerce sector is
also expected to follow closely behind the FMCG industry as the demands for
online delivery and online shopping is rapidly increasing. Based on propulsion,
the market is differentiated between ICE and electric.
A
partial list of major market players of the Rajasthan small commercial vehicle
market includes :
·
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 Rajasthan Private Limited
·
Saera Electric Auto Pvt. Ltd
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“The market analysis also studies the top 5 cities analysis, that are
Jaipur, Jodhpur, Udaipur, Alwar, and Kota. Jaipur is anticipated to lead the
top 5 city analysis in the upcoming five years, due to the presence of market
players in the city. Moreover, increasing sales and thus the production of the
small commercial vehicle is further driving the growth of the Rajasthan small
commercial vehicle market in the next five years. New market players would be
required to operate with collaborations and invest in new product development
since the market is already well established in the state. Presence of global
giants like Ashok Leyland further makes it difficult for the new market
entrants and thus strategic steps must be taken for future market,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Rajasthan
Small Commercial Vehicle Market By Vehicle Tonnage (Less Than 1 ton, 1 - 2 Ton,
and 2 - 3 Ton), By Industry (E-commerce, FMCG, Pharma, Electronics, Construction,
Agricultural, Hospitality, Forestry, Oil & Gas, and Others), By Propulsion
(ICE and Electric), By Top 5 Cities, Competition Forecast & Opportunities,
2027” has
evaluated the future growth potential of Rajasthan small commercial vehicle market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Rajasthan small commercial vehicle market.
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