The Indian truck market reached a value of US$9,054 Million in 2018. The market is currently experiencing double digit growth rates and is catalyzed by a number of factors. Trucks offer numerous advantages over railways. For instance, in contrast to rail transport, trucks can accept products in smaller quantities, they can also reach rural and hilly regions and also require less time than the rail for the loading and unloading of the products. Additionally, India’s strong economic growth has also been a major driver of the truck industry. The strong economic growth has further catalyzed the growth of sectors such as infrastructure, real estate, logistics, mining, etc. Other factors that are driving this market include rising incomes, urbanization, growth in the rural economy, e-commerce, etc. Moreover, GST has further simplified doing business in India. Looking forward, we expect the Indian truck market to reach sales worth US$ 17,870 Million by 2023, exhibiting a CAGR of 12% during 2019-2024.
The report has also analysed the competitive landscape of the market with some of the key players being Tata Motors Limited, Ashok Leyland Limited, VE Commercial Vehicles Limited, Mahindra & Mahindra Limited, SML Isuzu Limited, Daimler India Commercial Vehicles Pvt. Ltd, AMW Motors Ltd., MAN Truck & Bus, Hino Motors Sales India Private Limited and Scania Commercial Vehicle India Pvt Ltd.
Key Questions Answered in This Report:
This report provides a deep insight into the Indian truck market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for truck manufacturers, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian truck market in any manner.
Report Customization: Although IMARC has tried to cover everything in the truck market landscape, we believe that every stakeholder may have their own specific needs. In view of this, we provide up to 20 man-hours of free customization for each report.
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