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.
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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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Historical 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
·
Propulsion
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Cities scope
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Thiruvananthapuram, Ernakulam, Kozhikode, Kollam, and Kottayam,
rest of Kerala.
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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 Kerala
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 cities & 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, 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:
- 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]