Commercial Vehicles Market, gets a foothold in India | Ashok Leyland, Force Motors, Mahindra & Mahindra

A new research document is added in HTF MI database of 71 pages, titled as 'Commercial Vehicles Market in India 2020' with detailed analysis, Competitive landscape, forecast and strategies. The study covers geographic analysis that includes regions and important players/vendors such as Ashok Leyland Limited , Force Motors Limited, Mahindra & Mahindra Limited, SML Isuzu Limited, Tata Motors Limited, VE Commercial Vehicles Limited, Daimler India Commercial Vehicles Private Limited , Piaggio Vehicles Private Limited, Scania Commercial Vehicles India Private Limited. The Study will help you gain market insights, upcoming trends and influencing growth prospects for forecast period of 2020-2026.

Access sample report @ https://www.htfmarketreport.com/sample-report/2585536-commercial-vehicles-market-1

Summary
India is one of the leading manufacturers and exporters of commercial vehicles. Karnataka, Madhya Pradesh, Tamil Nadu, Maharashtra and Himachal Pradesh are the major commercial vehicles manufacturing states in India, with Tamil Nadu manufacturing the highest number of commercial vehicles.

Companies covered:
• Ashok Leyland Limited , Force Motors Limited, Mahindra & Mahindra Limited, SML Isuzu Limited, Tata Motors Limited, VE Commercial Vehicles Limited, Daimler India Commercial Vehicles Private Limited , Piaggio Vehicles Private Limited, Scania Commercial Vehicles India Private Limited

View Detailed Table of Content @ https://www.htfmarketreport.com/reports/2585536-commercial-vehicles-market-1

Market insights:
Commercial vehicles account for ~4% of India's total domestic automotive production volume (as of FY 2019). Favorable government policies like the Make in India campaign, the Automotive Mission Plan (AMP) and National Electric Mobility Mission Plan (NEMMP) have enabled the country to develop into one of the most important commercial vehicles manufacturing hubs in the world. In FY 2019, India accounted for the production of 1,112.18 thousand units of commercial vehicles. In the same year, the sales volume of commercial vehicles in India stood at 1,007.32 thousand units. Furthermore, the sale of commercial vehicles in the country is expected to reach a volume of 2,059.95 thousand units by FY 2024, expanding at a compound annual growth rate (CAGR) of ~15.23% during the FY 2020 - FY 2024 period.
Exponential growth in online retailing and logistics services, along with the implementation of Bharat Stage-VI (BS-VI) norms has bolstered the growth in the commercial vehicles market in India. Moreover, the implementation of the revised corporate tax rate (reduced from 35% to 25.17%) has attracted huge FDI from global investors for both manufacturing purposes and research and development (R&D) in the commercial vehicles segment, leading to further expansion of the market. However, surge in the operating costs of running these vehicles, rising customs duty, and lack of demand in the market due to the existing liquidity crisis in the economy are some of the factors impeding the growth of the market.

Market segmentation analysis:
Based on product type, the commercial vehicles market in India can be segmented into light commercial vehicles (LCV), and medium and heavy commercial vehicles (M&HCV). In FY 2019, the light commercial vehicles segment accounted for ~55.65% of the total sales volume of commercial vehicles. Further, during the FY 2020-FY 2024 period, sales volume of LCVs is expected to expand rapidly at a CAGR of ~16.34% compared to that of M&HCVs. On the other hand, by FY 2024, the M&HCVs segment is expected to account for ~41.30% of the total sales volume of commercial vehicles in India. Also, with the implementation of the vehicles electrification policy, the operating cost for running LCVs is expected to decline, leading to a rise in the sale of LCVs. This development can be attributed to the requirement for logistics services growing in tandem with the operations of the e-commerce sector. LCVs like commercial vans and three-wheeler cargo vans are mostly used for logistics services.

Competition analysis:
Tata Motors Limited, Mahindra & Mahindra Limited, Ashok Leyland Limited, Force Motors Limited, and VE Commercial Vehicles Limited are some of the prominent players in the commercial vehicles market in India. In FY 2019, Tata Motors merged as the leading market player with a market share of 45.13% in terms of sales volume. Other market participants like Piaggio Vehicles Private Limited and Scania Commercial Vehicles India Private Limited occupy negligible shares in the India commercial vehicles market.

Get Customization in the Report, Enquire Now @ https://www.htfmarketreport.com/enquiry-before-buy/2585536-commercial-vehicles-market-1

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure
3.2. Major global players using AI-based manufacturing process

Chapter 4: India artificial intelligence market overview
4.1. India artificial intelligence market overview
4.1.1. India artificial in

....Continued

Buy this report @ https://www.htfmarketreport.com/buy-now?format=1&report=2585536

It's vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.

Contact US :
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Unit No. 429, Parsonage Road Edison, NJ
New Jersey USA – 08837
Phone: +1 (206) 317 1218
sales@htfmarketreport.com

About Author:
HTF Market Report is a wholly owned brand of HTF market Intelligence Consulting Private Limited. HTF Market Report global research and market intelligence consulting organization is uniquely positioned to not only identify growth opportunities but to also empower and inspire you to create visionary growth strategies for futures, enabled by our extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist you for making goals into a reality. Our understanding of the interplay between industry convergence, Mega Trends, technologies and market trends provides our clients with new business models and expansion opportunities. We are focused on identifying the “Accurate Forecast” in every industry we cover so our clients can reap the benefits of being early market entrants and can accomplish their “Goals & Objectives”.

This release was published on openPR.