According to the latest report by IMARC Group, The India truck market is expected to exhibit a CAGR of XX% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, July 20, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group “India Truck Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The India truck market is expected to exhibit a CAGR of XX% during 2022-2027.
A truck refers to a large, heavy-weight vehicle that is customized for carrying goods. It can be categorized into heavy duty, medium duty, and light duty variants. These truck models are available in several tonnage capacities, including 3.5 to 7.5 tons, 7.5 to 16 tons, 16 to 30 tons, etc. They offer numerous advantages over railways or other modes of transport, such as carrying products in fewer quantities, reaching rural and hilly regions conveniently, requiring less time than the rail for the loading and unloading of the products, etc. Consequently, the modes of truck transportation find widespread applications across various sectors, including construction, logistics, mining, etc., in India.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The escalating logistics demand for difficult terrains is primarily driving the India truck market. Additionally, the expanding industrial, real estate, and mining industries are further augmenting the market across the country. Apart from this, the development in commercial infrastructure and the rising construction of roads, highways, dams, etc. for connecting remote places are acting as significant growth-inducing factors. Furthermore, the growing logistics industry and the launch of trucks integrated with advanced driver assistance systems and GPS tracking are also positively influencing the market across India. Besides this, the developing rural economy, the elevating e-commerce businesses, and the increasing need for light commercial trucks to transport lightweight products in smaller quantities are expected to propel the India truck market in the coming years.
Historical Market Trends
Market Breakup by Region
Market Breakup by Vehicle Type
Heavy Duty Truck
Medium Duty Truck
Light Duty Truck
Market Breakup by Tonnage Capacity
3.5 – 7.5 Tons
7.5 – 16 Tons
16 – 30 Tons
Above 30 Tons
Market Breakup by Fuel Type
CNG & LNG
Market Breakup by Application:
Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
Competitive Landscape with Key Player:
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
Scania Commercial Vehicle India Pvt Ltd.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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