PUBLISHER: Research Nester | PRODUCT CODE: 1214672
PUBLISHER: Research Nester | PRODUCT CODE: 1214672
The ASEAN and India automobile market is anticipated to grow with a CAGR of 3.62% and 4.19% respectively over the forecast period, i.e., 2022-2032. Factors such as growing urbanization, followed rise in population are projected to drive the growth of market in the coming years. Additionally, surge in investment in road infrastructure, and growing adoption of electric vehicles are also expected to drive the market growth. The market is further estimated to garner a volume of more than 22,500 thousand units and 27250 thousand units respectively by the end of 2032.
The ASEAN and India automobile market is segmented into vehicle type, and fuel type. By vehicle type, the market is segmented into 2-wheeler, 3-wheeler, and 4-wheeler. By the end of 2032, in the ASEAN region, the 2-wheeler segment is anticipated to garner the largest volume of 18,500 thousand units, up from a volume of close to 12,400 thousand units in the year 2021. Additionally, by the end of 2032, in India automobile market, the segment is estimated to generate the largest volume of above 21,800 thousand units, up from about 13,400 thousand units in the year 2021.
On the basis of region, the ASEAN automobile market is segmented into Thailand, Malaysia, Indonesia, and others. Out of these regions, the market in Indonesia is estimated to generate value more than 9,300 thousand units by the end of 2032, up from a value of about 6,200 thousand units, in the year 2021.
Some of the prominent industry leaders in the ASEAN and India automobile market hat are included in our report are: Hyundai Motor Company, Maruti Suzuki India Limited, Tata Motors, Mahindra & Mahindra Ltd., Kia India Pvt Limited, Honda Motor Co., Ltd., Yamaha Motor Co., Ltd, Toyota Motor Corporation, Bajaj Auto Ltd., Kawasaki Heavy Industries, Ltd., and others.