Kerala 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

Kerala small commercial vehicle market may register an impressive growth with an estimated CAGR during the forecast period, 2023-2027, on account of government drive to influence the population to commute via public transport. Consistent efforts and awareness created for the population regarding ill-effect of the exhaust gas increase in the state along with concerns for environmental degradation is actively driving the growth of the Kerala small commercial vehicle market in the upcoming five years. The market for small commercial vehicles in the country is huge. With growing demand for logistics, and freight movement, the demand is growing all over the country, and thus being responsible for the growth of the Kerala small commercial vehicle market in the next five years.

Environmental Concerns Drive Market Growth

Higher number of automobiles on road, are rapidly increasing the toxin exhaust being released in the atmosphere. Rising concerns for the degrading environment and depleting ozone layer is a major factor responsible for the growing demands for the public transport systems in the state. With growing demand for public transports, the demand for three-wheelers like autorickshaw, are increasing and driving the growth of the Kerala small commercial vehicle market in the upcoming five years. Climate changes, poor quality of air, soil, and water and further degradation of environment can be overcome by reducing the use of personal vehicle and the ideation of public transportation supports the notion. Increasing investment in the creating the awareness regarding depleting environment and promotions of public transport would further substantiate the growth of the Kerala small commercial vehicle market in the forecast years.

Expanding E-Commerce Sector In Kerala

Kerala was the first digital state of India starting 2016. In the year 2018, e-commerce sector in the country was valued USD22,138 million and the sector has since been ever expanding. Similarly, the e-commerce industry is rapidly expanding in Kerala too. Rising population of the state, higher population density in comparison to other states of the nation drives the growth of the e-commerce sector in the states. Thus, the demand for the online delivery is increasing. Consumer advantages like convenience in shopping, time saving processes, and safe transactions have inclined the population toward e-commerce and thus the industrial expansion.

Major part of the e-commerce is the timely delivery of the product and that demands for three-wheelers and four-wheeler small commercial vehicles, thus driving the growth of the Kerala small commercial vehicle market in the upcoming five years. Moreover, the surging demands have enhanced sales and thus the production of the small commercial vehicles in the state. In 2021, around 16.99 thousand units of small commercial vehicles were sold in Kerala.

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Market Segmentation

The Kerala 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. By industry, the market is fragmented into e-commerce, FMCG, pharma, electronics, construction, agricultural, hospitality, forestry, oil & gas, and others. Based on propulsion, the market is differentiated between ICE and electric. The market analysis also studies the top 5 cities analysis, that are Thiruvananthapuram, Ernakulam, Kozhikode, Kollam, and Kottayam.   

Company Profile

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 Kerala Private Limited, Saera Electric Auto Pvt. Ltd., among others is a partial list of major market players of the companies responsible for the growth of Kerala small commercial vehicle market.

Report Scope:

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

• Kerala Small Commercial Vehicle Market, By Vehicle Tonnage:
• Less Than 1 ton
• 1 - 2 Ton
• 2 - 3 Ton
• Kerala Small Commercial Vehicle Market, By Industry:
• E-commerce
• FMCG
• Pharma
• Electronics
• Construction
• Agricultural
• Hospitality
• Forestry
• Oil & Gas
• Others
• Kerala Small Commercial Vehicle Market, By Propulsion:
• ICE
• Electric
• Kerala Small Commercial Vehicle Market, By Top 5 Cities:

o   Thiruvananthapuram

o   Ernakulam

o   Kozhikode

o   Kollam

o   Kottayam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Kerala 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).

Kerala 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]