Andhra Pradesh 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

The Andhra Pradesh small commercial vehicle market is expected to witness a growth of steady CAGR in the forecast period, 2023-2027. The high penetration of the e-commerce industry and the developing logistics and transportation industry are the key factors driving the demand for Andhra Pradesh small commercial vehicle market. Also, the high-end investments by the market players in research and development activities to upgrade the existing infrastructure and introduce novel models in the market are expected to create growth opportunities for the Andhra Pradesh small commercial vehicle market in the forecast period.

Small commercial vehicles can be categorized into a three-wheeler and four-wheelers vehicles. Market players integrate the small commercial vehicle with the latest technology and systems, making the driving experience pleasurable for drivers even on rough terrains. A small commercial vehicle is a type of commercial vehicle, and it has a lower load-carrying capacity than the conventional large-sized cargo trucks, thereby making them suitable to transport goods within urban areas.

Flourishing Small and Medium Enterprises Drives the Market Growth

Andhra Pradesh ranks 5th in small and medium enterprises, and there are about 25.96 lakh MSME enterprises in the state. The leading authorities allocated a fund of 100 crores to support the revival of MSME enterprises in the state. The government is developing the logistics industry and building infrastructure and is using commercial vehicles to maintain an efficient supply chain. Leading authorities are introducing policies and incentives such as 100% reimbursement of stamp duty within six months on certain purchases or leases of land for industrial purposes. They provide investment subsidies on fixed capital investment for micro and small enterprises up to 20 lakhs. Small enterprises can use small commercial vehicles to transport their goods between local and regional destinations. Also, small commercial vehicles can easily travel over narrow roads, which is required for last-mile connectivity. The wider reach of small commercial vehicles on narrow roads over the other means of transport and the growing small and medium enterprises are expected to bolster the Andhra Pradesh small commercial vehicle market growth in the forecast period.

Growing Manufacturing Industry Supports the High Market Demand

Andhra Pradesh is developing at a rapid pace. Many companies have set up their manufacturing plants due to the availability of cheap labor and easy entry into the market. ITC, Samsung Electronics, Unilever, Hindustan Petroleum, Vizag Steel, Mahindra, Nestle, and many international companies have manufacturing plants in Andhra Pradesh. The central government has launched the Production Linked Incentive Scheme (PLI) to encourage investment in 13 different sectors. As part of this, the state government is taking measures to attract investments in the state's key sectors. The government has developed Electronic Manufacturing Cluster to attract investments in the investment sector under the PLI scheme. The growing demand from the consumers for different consumer goods and other products and the high support from the government is expected to accelerate the Andhra Pradesh small commercial vehicle market growth in the forecast period.

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Market Segmentation

The Andhra Pradesh 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. Based on industry, the market is divided into e-commerce, FMCG, pharma, electronics, construction, agricultural, hospitality, forestry, oil & gas, and others. Based on propulsion, the market is divided into ICE and electric. The market is also studied by dividing Andhra Pradesh into cities namely Hyderabad, Visakhapatnam, Krishna, Nellore, Rajahmundry. .

Market Players

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 Andhra Pradesh Private Limited, Saera Electric Auto Pvt. Ltd are the major market players leading the Andhra Pradesh small commercial vehicle market growth.

Report Scope:

In this report, Andhra Pradesh small commercial vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Andhra Pradesh Small Commercial Vehicle Market, By Vehicle Tonnage:
• Less Than 1 ton
• 1 - 2 Ton
• 2 - 3 Ton
• Andhra Pradesh Small Commercial Vehicle Market, By Industry:
• E-commerce
• FMCG
• Pharma
• Electronics
• Construction
• Agricultural
• Hospitality
• Forestry
• Oil & Gas
• Others
• Andhra Pradesh Small Commercial Vehicle Market, By Propulsion:
• ICE
• Electric
• Andhra Pradesh Small Commercial Vehicle Market, By City:

o   Hyderabad

o   Visakhapatnam

o   Krishna

o   Nellore

o   Rajahmundry

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Andhra Pradesh small commercial vehicle market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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