Gujarat Small Commercial Vehicle Market to be dominated by FMCG industry till 2027
Developing automotive industry and rise in the industrial
activities are expected to drive the demand for Gujarat small commercial
vehicle market in the forecast period, 2023-2027.
According
to TechSci Research report, “Small Commercial Vehicle Market – Gujarat Industry
Size, Share, Trends, Opportunity, and Forecast, 2017-2027”,
the Gujarat small commercial vehicle market is expected to grow at a robust
CAGR in the forecast period, 2023-2027. The rapidly growing road
infrastructure, ongoing developments in the transportation and logistics
industry, and the support for the development of small electric vehicles are
the major drivers for Gujarat's small commercial vehicle market. The
development of small businesses in the sectors such as FMCG, pharmaceutical,
construction, agriculture, and e-commerce is acting as a positive factor to
accelerate the growth of the Gujarat small commercial vehicle market.
However,
the high cost of small commercial vehicles and the availability of alternate
transportation options may restrain the growth of Gujarat small commercial
vehicles market for the forecast period.
Browse over XX market data Figures spread through 70
Pages and an in-depth TOC on " Gujarat Small Commercial
Vehicle Market"
https://www.techsciresearch.com/report/gujarat-small-commercial-vehicle-market/9450.html
The Gujarat small commercial vehicle
market is segmented into vehicle tonnage, industry, propulsion, competitive
landscape, and regional distribution.
Based on vehicle tonnage, the market is
divided into less than 1 ton, 1 - 2 ton, and 2 - 3 ton. The 2-3 ton segment is
expected to hold the highest market share in the forecast period. The small
commercial vehicles in this range have high load carrying capacity over long
distances. Gujarat has a highly developed and growing agriculture and
industrial sector in which there is a need to carry heavy goods for long
distances. The high demand from these sectors is expected to boost market
growth.
Based on industry, the market is divided
into e-commerce, FMCG, pharma, electronics, construction, agricultural,
hospitality, forestry, oil & gas, and others. The electronics industry is
expected to account for a significant market share in the forecast period.
According to Electronics Policy 2016, the government supports developing an
electronics hub in the state. The government is providing monetary support and
financial assistance to the new market players and aims to increase the export
of electronic products to other countries. The electronic product manufacturing
industries employ the use of small commercial vehicles to deliver products to
inter and intra cities and are very fuel-efficient. The rapid development and
advancements of the electronic industry are expected to fuel the demand for the
Gujarat small commercial vehicle market for the forecast period.
Based on propulsion, the market is
divided into ICE and electric. The ICE segment holds the largest market share
and is expected to maintain its dominance for the next five years. The majority
of the vehicles in the market use ICE engines for propulsion. The market
players are experimenting and finding innovative solutions to improve vehicles'
performance and fuel efficiency. The launch of superior-performing small
commercial vehicle models in the market and investments to improve brand image
and develop marketing strategies are expected to fuel the Gujarat small
commercial vehicle market growth for the next five years.
Major market players operating in the Gujarat
small commercial vehicle market are:
·
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 Gujarat Private Limited
·
Saera
Electric Auto Pvt. Ltd
Download Sample
Report @ https://www.techsciresearch.com/sample-report.aspx?cid=9450
Customers can also request for 10% free
customization on this report.
“Due to growing environmental concerns
and the fluctuations in crude oil prices, the government is making efforts and
investments to fuel the manufacturing and sales of electric vehicles. The state
government of Gujarat has revised its electric vehicle policy in support of the
FAME policy to bridge the gap and ease the process of transformation towards
electric vehicles. Small electric commercial vehicles are expected to be the
most lucrative market in the coming years due to the free registration of
electric vehicles, the development of supportive charging infrastructure, and
the availability of subsidies and incentives for manufacturing and buying
electric vehicles. The growing commercial activities and the developing
transportation and logistics industry are expected to propel the Gujarat small
commercial vehicle market growth till 2027” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Gujarat 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 Region, Competition Forecast & Opportunities, 2027”, has evaluated the future
growth potential of Gujarat 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 Gujarat small commercial vehicle market.
Contact
Mr. Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Web:
https://www.techsciresearch.com