India small commercial vehicle market Report 2022-2027: Market is anticipated to grow on account of increasing logistic services in the local market
The “India 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, and Others), By Propulsion, By Region, Competition, Forecast & Opportunities, FY2027” report has been added to ResearchAndMarkets.com’s offering.
The Indian Small Commercial Vehicle Market in the year FY2021 stood at USD1909.91 million. The market is anticipated to grow further with a CAGR of 15.14% in the forecast years FY2023-FY2027, to achieve a market value of USD4256.93 million by FY2027.
The Indian Small Commercial Vehicle Market is anticipated to grow on account of increasing logistic services in the local market that surge the demand for small commercial vehicles. Government initiatives, financial support, and increasing investments from the manufacturing companies are further driving the growth of the Indian Small Commercial Vehicle Market in the upcoming five years.
Rapidly growing road and highway infrastructures and growing online shopping and shipping network are further supporting the growth of the Indian Small Commercial Vehicle Market in the next five years. Increasing urbanization, growing small and medium businesses, increasing the transportation of products between local and regional destinations are substantiating the growth of the Indian Small Commercial Vehicle Market in the future five years.
The small commercial vehicle has advantages like a wider reach to narrow roads, steep hilly regions, etc., needed for last-mile connectivity. Wider reach of small commercial vehicles to narrow roads over other means of transport for transporting goods is propelling the small commercial vehicle market to grow in the country.
The Indian Small Commercial Vehicle Market is segmented by vehicle tonnage, industry, propulsion, regional distribution, and competitive landscape. Based on industry, the market is further bifurcated into e-commerce, FMCG, pharma, electronics, construction, agricultural, hospitality, forestry, oil & gas, and others.
FMCG industry is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of the increasing reach of application of small commercial vehicles in transportation of products like breads, eggs, bathing soaps, facewash, washing powder, etc. to a consumer from local as well as regional markets.
Increasing population of the country, growing internet penetration, schemes and discount offers over online shopping platforms, easier delivery services are also aiding the growth of the Indian Small Commercial Vehicle Market in the future five years.
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 India Private Limited, Saera Electric Auto Pvt. Ltd, are among the major market players in the India platform that lead the market growth of the Indian Small Commercial Vehicle Market.
Objective of the Study:
- To analyze and estimate the market size of the Indian Small Commercial Vehicle Market from FY2017 to FY2020.
- To estimate and forecast the market size of the Indian Small Commercial Vehicle Market from FY2021 to FY2022 and growth rate until FY2027.
- To classify and forecast the Indian Small Commercial Vehicle Market based on type, surgery type, end-user, regional distribution, and competitive landscape.
- To identify dominant region or segment in the Indian Small Commercial Vehicle Market.
- To identify drivers and challenges for the Indian Small Commercial Vehicle Market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Indian Small Commercial Vehicle Market.
- To identify and analyze the profile of leading players operating in the Indian Small Commercial Vehicle Market.
- To identify key sustainable strategies adopted by market players in the Indian Small Commercial Vehicle Market.
Report Scope:
Years considered for this report:
- Historical Years: FY2017- FY2020
- Base Year: FY2021
- Estimated Year: FY2022
- Forecast Period: FY2023-FY2027
India Small Commercial Vehicle Market, Vehicle Tonnage:
- 2-3 Ton
- 1-2 Ton
India Small Commercial Vehicle Market, By Industry
- FMCG
- E-Commerce
- Agricultural
- Construction
- Pharma
- Electronics
- Oil & Gas
- Hospitality
- Forestry
- Others
India Small Commercial Vehicle Market, By Propulsion
- ICE
- Electric
India Small Commercial Vehicle Market, By Region
- West
- South
- North
- East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Indian Small Commercial Vehicle Market.
- 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 India Private Limited
- Saera Electric Auto Pvt. Ltd
