The Karnataka small
commercial vehicle market is expected to witness a growth of steady CAGR in the
forecast period, 2023-2027. The small commercial vehicle is a type of
commercial vehicle which is used for intra and inter-city delivery of products.
Small commercial vehicles have either three-wheel or four-wheel and are chosen
based on load carrying requirements. The majority of the small commercial
vehicles are equipped with the latest technology and equipment, which makes
traveling over rough terrains smoother and easier. The high demand from the
manufacturing and e-commerce industry and the launch of small electric
commercial vehicles in the market are the primary factors that are driving the
market demand. Also, the rapidly growing road infrastructure and the growing
number of small-scale businesses are further expected to influence the market
demand for the next five years.
Growing Industrial Sector
Drives the High Market Demand
Karnataka is leading the
growth of the Indian industry in terms of high technology industries in areas
of Information & communication technology, biotechnology, nanotechnology,
electrical and electronics industry, and other prominent industries. The structure
of the industrial sector of Karnataka is a combination of modern high-tech
capital and traditional good industries. Companies like 3M India limited, BEML
Ltd, Bharat Electronics Ltd, and Bosch Ltd are setting up their plants in
Karnataka and require the use of commercial vehicles to transfer their goods
and products to maintain an efficient supply chain. Small commercial vehicles
are preferred over other means of transportation as they are fuel-efficient,
cost-effective, and produce less environmental pollution in comparison to heavy
commercial vehicles. Karnataka is flourishing at a rapid rate and is witnessing
strong economic growth. Ongoing commercial activities and the high demand from
the industrial sector are expected to accelerate the Karnataka small commercial
vehicles market growth over the next five years.
Flourishing E-Commerce
Industry Supports the High Market Demand
The digital transformation of
the retail industry owing to high-speed internet penetration and the
proliferation of smart devices among consumers is expected to revolutionize the
reach of the retail industry. Consumers are shifting towards online sale
channels as they are highly convenient and comfortable in comparison to buying
physically through retail stores. Market players are providing lucrative
discounts and offers, quick doorstep delivery, and flexibility in payment
options to attract customers to buy through online platforms. Rapid
urbanization has created new retail and e-commerce platforms that require
efficient logistics, which could be achieved by small commercial vehicles. The
intense competition among the market players is making them invest in the
development of efficient transportation and logistics to improve the customer
experience. Therefore, the increased demand for goods through the e-commerce
platforms and the rise in the number of market players are expected to
accelerate the growth of the Karnataka small commercial vehicle market over the
forecast period.
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Market Segmentation
The Karnataka 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 Karnataka into cities namely Bengaluru,
Mysore, Bijapur, Hubli-Dharwar, and Tumkur. .
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 Karnataka Private Limited, Saera Electric
Auto Pvt. Ltd are the major market players leading the Karnataka small
commercial vehicle market growth.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, and CAGR for 2017-2021
and 2022-2027
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Report coverage
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Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
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Segments covered
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·
Vehicle Tonnage
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Industry
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Propulsion
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Region scope
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Bengaluru, Mysore, Bijapur, Hubli-Dharwar, Tumkur
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Key companies profiled
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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 Karnataka Private Limited, Saera Electric
Auto Pvt. Ltd
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Customization scope
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10% free report customization with purchase. Addition or
alteration to city & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, Karnataka small
commercial vehicle market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Karnataka Small Commercial Vehicle Market, By Vehicle Tonnage:
- Less Than 1 ton
- 1 - 2 Ton
- 2 - 3 Ton
- Karnataka Small Commercial Vehicle Market, By Industry:
- E-commerce
- FMCG
- Pharma
- Electronics
- Construction
- Agricultural
- Hospitality
- Forestry
- Oil & Gas
- Others
- Karnataka Small
Commercial Vehicle Market, By Propulsion:
- Karnataka Small
Commercial Vehicle Market, By City:
o Bengaluru
o Mysore
o Bijapur
o Hubli-Dharwar
o Tumkur
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Karnataka 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).
Karnataka small commercial
vehicle market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]