Indian Commercial Vehicle Industry Receiving Impetus from New Market Entrants

The commercial vehicles segment of the Indian automobile industry is one of the most prosperous markets in the country with a potential to reach to new heights. The industry was not only able to sustain a normal growth rate during the recession period; it sprung back into action faster than any other industry in the post-recession period. This has been possible due to the persistent factors favoring the industry in India, which are a vast population and a related industrial growth. Various infrastructural and industrial projects that have been emerging consistently for the past few years have boosted the requirements of commercial vehicles in the country, says our new research report “India Commercial Vehicle Market Analysis”.

The in-depth analysis of the prevailing and upcoming market trends suggests that, the industry is witnessing the foray of existing automobile majors into the commercial vehicles segment. For instance, General Motors India recently announced its plans of entering the domestic light commercial vehicle (LCVs) segment. The Company is planning to do so by launching mini vans and mini trucks during the next few years. Additionally, the industry is being supported by the Indian Government, which has announced new tax rebates and excise duty concessions in its latest budget. Backed by these factors, the passenger vehicles segment is expected to grow at a CAGR of around 15% during 2011-12 to 2014-15.

Through prudent and detail analysis, we have covered all the major segments of the commercial vehicles market, including utility vehicles and multi-purpose vehicles. Each segment involves forecasts regarding the production, sales, and exports for the next 4 fiscals. The forecasting done in the report is based on reliable data with future insights backed by the latest trends and developments.

Our report “India Commercial Vehicle Market Analysis” also covers the description of the key players in the market along with all their prominent recent developments. Besides, the report includes market trends, industrial developments, and regulatory environment to enable clients understand the market structure and its progress in coming years.

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