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PUBLISHER: Grand View Research | PRODUCT CODE: 1404605
PUBLISHER: Grand View Research | PRODUCT CODE: 1404605
India Automotive Market Size, Share & Trends Analysis Report By Passenger Vehicle (Sedan, Hatchback, SUV), By Light Commercial Vehicle, By Heavy Truck, By Bus & Coach, And Segment Forecasts, 2023 - 2030
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India Automotive Market Growth & Trends:
The India automotive market demand is expected to reach 8,363,344 units by 2030, according to a new study by Grand View Research, Inc. It is anticipated to register a CAGR of 9.7% from 2023 to 2030. The automotive demand is driven by the rapid adoption of technology and the strong policy support from the government. Additionally, increasing awareness about environmental concerns resulting in the adoption of alternate fuel vehicles (CNG, EVs), which, in turn, is driving the market growth.
Technological advancements in the entire supply chain are anticipated to drive the market in the next seven years. For instance, companies are adopting alternate channels such as e-commerce websites to sell vehicles. Selling commercial vehicles through e-commerce websites helps the OEMs in widening their distribution network and reducing the infrastructure and labor costs. For example, Eicher Motors Limited has recently launched five new vehicles that are exclusively available through the e-commerce channel. Similarly, sales of Tata Motor's small commercial vehicles and pickups have increased by 25% after the company opted for the e-commerce channel to sell its vehicles.
Amid the pandemic, the need to adhere to social distancing norms has encouraged consumers to invest in personal mobility options. This demand for personal transport options is a silver lining for automakers and is expected to marginally favor the growth of the country's automotive industry over the forecast period. Isolated transport options are emerging as the need of the hour, with several consumers opting for entry-level cars amid economic uncertainties. Shared mobility is expected to take a hit in the light of this ongoing trend. As the trend is significantly impacted by the consumer's spending power, it is expected that consumers with high spending capacity will dominate the sales of personal transportation options.
India Automotive Market Report Highlights:
- The hatchback segment held the largest market share of 40.2% in 2022. The large market share is attributed to its smaller size, suited to Indian roads. The country's prominent passenger car manufacturers have also developed small hatchbacks suited to the Indian market.
- The Light Commercial Vehicles (LCVs), ranging between 2 to 3.5 tons segment, accounted for the largest volume of 47.7% in 2022
- The buses with tonnage capacity ranging between 3.5 to 7.5 tons segment held the largest volume share of 51.1% in 2022. The segment primarily includes intra-city buses and special-purpose buses used for school, local tours, ambulance, hospitality, and other services.
- The more than 25 tons segment held the largest volume share of 53.4% in 2022. Growing demand for goods and increased construction and infrastructure development drive the heavy trucks market demand.
- The less than 2 tons segment is estimated to register the fastest CAGR of 12.9% over the forecast period. The primary factor influencing the growth rate is the use of light vehicles for last-mile deliveries.
Product Code: GVR-4-68039-303-5
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Passenger vehicles
- 1.1.2. Light commercial vehicles
- 1.1.3. Heavy trucks
- 1.1.4. Buses & coaches
- 1.1.5. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.4. Information or Data Analysis
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Passenger vehicles outlook
- 2.2.2. Light commercial vehicles outlook
- 2.2.3. Heavy trucks outlook
- 2.2.4. Buses & coaches outlook
- 2.3. Competitive Insights
Chapter 3. India Automotive Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Market Dynamics
- 3.3.1. Market driver analysis
- 3.3.2. Market restraint analysis
- 3.3.3. Market opportunity analysis
- 3.4. India Automotive Market Analysis Tools
- 3.4.1. Industry analysis - Porter's
- 3.4.1.1. Supplier power
- 3.4.1.2. Buyer power
- 3.4.1.3. Substitution threat
- 3.4.1.4. Threat of new entrant
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL analysis
- 3.4.2.1. Political landscape
- 3.4.2.2. Technological landscape
- 3.4.2.3. Economic landscape
- 3.4.1. Industry analysis - Porter's
Chapter 4. India Automotive Market: Passenger Vehicles Estimates & Trend Analysis
- 4.1. India Automotive Market: Key Takeaways
- 4.2. India Automotive Market: Movement & Market Share Analysis, 2022 & 2030
- 4.3. Sedan
- 4.3.1. Sedan market estimates and forecasts, 2017 to 2030 (Volume Units)
- 4.4. Hatchback
- 4.4.1. Hatchback market estimates and forecasts, 2017 to 2030 (Volume Units)
- 4.5. SUVs
- 4.5.1. SUVs market estimates and forecasts, 2017 to 2030 (Volume Units)
- 4.6. MUVs/MPVs
- 4.6.1. MUVs/MPVs/Vans market estimates and forecasts, 2017 to 2030 (Volume Units)
Chapter 5. India Automotive Market: Light Commercial Vehicles Estimates & Trend Analysis
- 5.1. India Automotive Market: Key Takeaways
- 5.2. India Automotive Market: Movement & Market Share Analysis, 2022 & 2030
- 5.3. Less than 2 Tons
- 5.3.1. Less than 2 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
- 5.4. 2 to 3.5 Tons
- 5.4.1. 2 to 3.5 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
- 5.5. 3.5 to 7.5 Tons
- 5.5.1. 3.5 to 7.5 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
Chapter 6. India Automotive Market: Heavy Trucks Estimates & Trend Analysis
- 6.1. India Automotive Market: Key Takeaways
- 6.2. India Automotive Market: Movement & Market Share Analysis, 2022 & 2030
- 6.3. 7.5 to 12 Tons
- 6.3.1. 7.5 to 12 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
- 6.4. 12 to 25 Tons
- 6.4.1. 12 to 25 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
- 6.5. More than 25 Tons
- 6.5.1. More than 25 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
Chapter 7. India Automotive Market: Buses & Coaches Estimates & Trend Analysis
- 7.1. India Automotive Market: Key Takeaways
- 7.2. India Automotive Market: Movement & Market Share Analysis, 2022 & 2030
- 7.3. 3.5 to 7.5 Tons
- 7.3.1. 3.5 to 7.5 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
- 7.4. 7.5 to 12 Tons
- 7.4.1. 7.5 to 12 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
- 7.5. More than 12 Tons
- 7.5.1. More than 12 tons market estimates and forecasts, 2017 to 2030 (Volume Units)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Market Participant Categorization
- 8.2.1. ASHOK LEYLAND
- 8.2.1.1. Company overview
- 8.2.1.2. Financial performance
- 8.2.1.3. Product benchmarking
- 8.2.1.4. Strategic initiatives
- 8.2.2. Bajaj Auto Ltd.
- 8.2.2.1. Company overview
- 8.2.2.2. Financial performance
- 8.2.2.3. Product benchmarking
- 8.2.2.4. Strategic initiatives
- 8.2.3. Mercedes-Benz Group AG.
- 8.2.3.1. Company overview
- 8.2.3.2. Financial performance
- 8.2.3.3. Product benchmarking
- 8.2.3.4. Strategic initiatives
- 8.2.4. EICHER MOTORS LIMITED
- 8.2.4.1. Company overview
- 8.2.4.2. Financial performance
- 8.2.4.3. Product benchmarking
- 8.2.4.4. Strategic initiatives
- 8.2.5. Honda Motor Co., Ltd.
- 8.2.5.1. Company overview
- 8.2.5.2. Financial performance
- 8.2.5.3. Product benchmarking
- 8.2.5.4. Strategic initiatives
- 8.2.6. Hyundai Motor India
- 8.2.6.1. Company overview
- 8.2.6.2. Financial performance
- 8.2.6.3. Product benchmarking
- 8.2.6.4. Strategic initiatives
- 8.2.7. Mahindra&Mahindra Ltd.
- 8.2.7.1. Company overview
- 8.2.7.2. Financial performance
- 8.2.7.3. Product benchmarking
- 8.2.7.4. Strategic initiatives
- 8.2.8. MARUTI SUZUKI INDIA LIMITED
- 8.2.8.1. Company overview
- 8.2.8.2. Financial performance
- 8.2.8.3. Product benchmarking
- 8.2.8.4. Strategic initiatives
- 8.2.9. Piaggio & C. SpA
- 8.2.9.1. Company overview
- 8.2.9.2. Financial performance
- 8.2.9.3. Product benchmarking
- 8.2.9.4. Strategic initiatives
- 8.2.10. Tata Motors
- 8.2.10.1. Company overview
- 8.2.10.2. Financial performance
- 8.2.10.3. Product benchmarking
- 8.2.10.4. Strategic initiatives
- 8.2.11. TOYOTA MOTOR CORPORATION.
- 8.2.11.1. Company overview
- 8.2.11.2. Financial performance
- 8.2.11.3. Product benchmarking
- 8.2.11.4. Strategic initiatives
- 8.2.12. Volkswagen Group
- 8.2.12.1. Company overview
- 8.2.12.2. Financial performance
- 8.2.12.3. Product benchmarking
- 8.2.12.4. Strategic initiatives
- 8.2.13. AB Volvo
- 8.2.13.1. Company overview
- 8.2.13.2. Financial performance
- 8.2.13.3. Product benchmarking
- 8.2.13.4. Strategic initiatives
- 8.2.1. ASHOK LEYLAND
Product Code: GVR-4-68039-303-5
List of Tables
- Table 1 List of abbreviation
- Table 2 India automotive market, by passenger vehicles, 2017 - 2030 (Volume Units)
- Table 3 India automotive market, by light commercial vehicles, 2017 - 2030 (Volume Units)
- Table 4 India automotive market, by heavy trucks, 2017 - 2030 (Volume Units)
- Table 5 India automotive market, by buses & coaches, 2017 - 2030 (Volume Units)
List of Figures
- Fig. 1 Market research process
- Fig. 2 Data triangulation techniques
- Fig. 3 Primary research pattern
- Fig. 4 Market research approaches
- Fig. 5 Value-chain-based sizing & forecasting
- Fig. 6 QFD modeling for market share assessment
- Fig. 7 Market formulation & validation
- Fig. 8 India automotive: Market outlook
- Fig. 9 India automotive: Competitive insights
- Fig. 10 Parent market outlook
- Fig. 11 Related/ancillary market outlook
- Fig. 12 Penetration and growth prospect mapping
- Fig. 13 Industry value chain analysis
- Fig. 14 India automotive market driver impact
- Fig. 15 India automotive market restraint impact
- Fig. 16 India automotive market strategic initiatives analysis
- Fig. 17 India automotive market: Passenger vehicles movement analysis
- Fig. 18 India automotive market: Passenger vehicles outlook and key takeaways
- Fig. 19 Sedan market estimates and forecasts, 2017 - 2030
- Fig. 20 Hatchback market estimates and forecasts, 2017 - 2030
- Fig. 21 SUVs market estimates and forecasts, 2017 - 2030
- Fig. 22 MUVs/MPVs market estimates and forecasts, 2017 - 2030
- Fig. 23 India automotive market: Light commercial vehicles movement analysis
- Fig. 24 India automotive market: Light commercial vehicles outlook and key takeaways
- Fig. 25 Less than 2 tons market estimates and forecasts, 2017 - 2030
- Fig. 26 2 to 3.5 tons market estimates and forecasts, 2017 - 2030
- Fig. 27 3.5 to 7.5 tons market estimates and forecasts, 2017 - 2030
- Fig. 28 India automotive market: Heavy trucks movement analysis
- Fig. 29 India automotive market: Heavy trucks outlook and key takeaways
- Fig. 30 7.5 to 12 tons market estimates and forecasts, 2017 - 2030
- Fig. 31 12 to 25 tons market estimates and forecasts, 2017 - 2030
- Fig. 32 More than 25 tons market estimates and forecasts, 2017 - 2030
- Fig. 33 India automotive market: Buses & coaches movement analysis
- Fig. 34 India automotive market: Buses & coaches outlook and key takeaways
- Fig. 35 3.5 to 7.5 tons market estimates and forecasts, 2017 - 2030
- Fig. 36 7.5 to 12 tons market estimates and forecasts, 2017 - 2030
- Fig. 37 More than 12 tons market estimates and forecasts, 2017 - 2030
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