DUBLIN, Jan. 16, 2024 /PRNewswire/ — The “Indian Commercial Vehicle Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
The Indian trucking industry includes a diverse range of vehicles, operators, and logistics services and is a critical driver of economic growth and development. Following years of axle load regulation and the implementation of Bharat Stage 6 emission norms, the industry faced stagnant volumes made worse by the COVID-19 pandemic. However, the industry is in the recovery and growth phase now.
In 2022, total truck shipment was 0.87 million units. The largest share of the market remains with the light-duty segment, with 0.56 million trucks sold in 2022, followed by the heavy-duty segment with 0.22 trucks, and the medium-duty segment with 0.09 million trucks. With pivotal initiatives such as Bharatmala focusing on road infrastructure and Sagarmala on the modernization of ports, a comprehensive national logistics policy, and a national infrastructure pipeline, the outlay for development is high and will boost the demand for truck deployment. Despite elevated diesel prices, sales of compressed natural gas (CNG) trucks have increased in the medium-duty segment, accounting for 27.8% of the overall powertrain.
Revised CNG pricing will boost sales. The dedicated liquified natural gas (LNG) policy will increase LNG usage in trucks, especially in the heavy-duty segment, as LNG offers a longer range and performance similar to that of diesel. Leading OEMs have showcased their LNG models as prototypes, with launches expected in 2024. Truck electrification will start with light-duty trucks, target last-mile operations, and expand to other segments when charging infrastructure and acquisition cost improves. Electrification in commercial vehicles is further bolstered by subsidies from the central and state governments.
In addition, production-linked incentives (PLI) are also available for OEMs. The rise in connectivity and telematics solutions by third-party players and OEMs is improving fleet management for customers; however, more regulation is expected. The overall growth trajectory of the Indian commercial vehicle sector will remain strong.
Key Topics Covered:
Growth Environment
- Pivotal Government Initiatives Focusing on Boosting the Indian Economy
- Key Trends Driving the Indian Commercial Vehicle Market
- Truck Applications Overview
- Freight Transport Categories and Types, India
- Truck Ecosystem in India
- Snapshot of Global Commercial Vehicles in 2022
- OEM Landscape, 2023
- Regulations and Policies, 2023-2027 Outlook
- Electric Vehicle (EV) Incentives and Subsidies, 2023
Growth Opportunity Analysis
- Key Growth Metrics
- Forecast Criteria
- Growth Drivers for the Indian Commercial Vehicle Market
- Growth Restraints for the Indian Commercial Vehicle Market
Growth Opportunity Universe
- Growth Opportunity 1 – Adoption of Low- and Zero-emission Trucks
- Growth Opportunity 2 – New Truck Ownership and Business Models
- Growth Opportunity 3 – Improved Safety and Connected Telematics Solutions
Application Usage and Sector Outlook
- Truck Sales by Application
- Courier, Express, and Parcel (CEP) Logistics
- Consumer Durables, Retail, and eCommerce
- FMCG, Pharma, and Documents
- Road Construction and Real Estate
- Planned Road Construction
- Fruit, Vegetables, and Milk
- Agricultural Products
Historic Unit Sales Performance Review
- LD Truck Sales Cycles
- LD Truck Market Share Comparison for CY 2018-2022
- MD Truck Sales Cycles
- MD Truck Market Share Comparison for CY 2018-2022
- HD Truck Sales Cycles
- HD Truck Market Share Comparison for CY 2018-2022
Unit Sales and Powertrain Forecast
- Indian Commercial Vehicle Unit Sales Forecast, 2022-2035
- LD Truck Unit Sales Forecast
- LD Truck Powertrain Forecast
- MD Truck Unit Sales Forecast
- MD Truck Powertrain Forecast
- HD Truck Unit Sales Forecast
- HD Truck Powertrain Forecast
- Forecast Discussion
Alternative Fuels Ecosystem
- LNG
- CNG
- NG for the Transportation Sector
- Hydrogen Ecosystem
Truck Technology Systems
- Truck Technology Road Map
- Cabin Ergonomics
- Fuel Efficiency Improvements, 2021-2035
Safety and Telematics Systems
- Truck Safety Systems
- Truck Safety System Adoption, 2022-2035
- Truck Telematics Installed Base
- Truck Telematics Market Share
- Truck Telematics Feature by OEM
- Truck Telematics Installed Base Forecast
OEM Profiles
- Ashok Leyland
- Eicher
- Mahindra
- Tata Motors
For more information about this report visit https://www.researchandmarkets.com/r/wqomf9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
