openPR Logo
Press release

Indian Automobile Industry 2020: Size, Growth Analysis Report to 2026

12-30-2020 03:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

India became the fourth largest auto market with sales increasing 8.3% year-on-year to 3.99 million units in 2018. It was the seventh-largest manufacturer of commercial vehicles in 2018. India is also a prominent auto exporter and has strong export growth opportunities for the near future.

Get Free Sample Copy @ https://marketinsight.in/request-sample/indian-automobile-sector-growth

However, in 2019, a slowdown in the auto sector has been witnessed still companies are investing significantly in the new plants by anticipating a significant growth in the upcoming period, which will create a significant demand for the automotive industry during the forecast period. For instance, in December 2019, Force Motors planned to invest $85.85 million in order to develop two new models over the next two years. In addition, the industry has attracted FDI worth $23.89 billion during the period April 2000 to December 2019, according to data released by the Department for Promotion of Industry and Internal Trade (DPIIT).

A Full Report of Automobile Industry in India is Available at: https://marketinsight.in/industry-reports/indian-automobile-sector-growth

Recent/planned investments in the automobile sector in India-

In January 2020, Tata AutoComp Systems entered a joint venture with Beijing-based Prestolite Electric to enter the electric vehicle components market.
In December 2019, Morris Garages (MG), a British automobile brand announced plans to invest $429.25 million in Indian automobile industry.
Hyundai is planning to invest $1 billion in India by the end of 2020.
SAIC Motor has also announced to invest $310 million in India.
Mercedes Benz has increased the manufacturing capacity of its Chakan Plant to 20,000 units per year, highest for any luxury car manufacturer in India.

The major factors for the growth of the automobile industry in the country include rising government initiatives and subsidies on the electric vehicle, increasing options of the electric two-wheeler among the customers, expansion by the electric vehicle startups, the entrance of the well-established market players, among others. The government of the country is motivating the electric vehicle industry and has allocated around $1.4 billion in February 2019 under the FAME II (Faster Adoption and Manufacturing of Electric Vehicles) scheme for a period of three years. Around 86% of the total amount has been allocated as an incentive for electric vehicles.

The government will support around 7,000 electric buses, 500,000 electric three-wheelers, nearly 55,000 electric cars, and 1 million electric two-wheelers. NITI Aayog (a policy thinks tank of the Government of India) also suggests that all the two-wheelers below 150 cc sold after 31st March 2025 should be electric. Further, the Government of India promotes sales of electric vehicles is also contributing to market growth. For instance, the government announced to provide an additional income tax deduction of $2,146 on the interest paid on the loans taken to purchase electric vehicles under Union Budget 2019-2020.

For More Customized Data, Request for Report Customization @ https://marketinsight.in/report-customization/indian-automobile-sector-growth

Media Contact:
Company Name: Market Insight
Contact Person: Mr. Anurag Tiwari
Email: info@marketinsight.in
Contact no: +91 780-304-0404

About Market Insight
Marketinsight.in, a sub-division of Orion Market Research (OMR), is a determined market research firm that simply aims at providing services such as consulting, customize research, field research and a growth strategy plan to the Indian enterprises. It provides a complete suite of customized services focused on to bringing process efficiency and market effectiveness in its services.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Indian Automobile Industry 2020: Size, Growth Analysis Report to 2026 here

News-ID: 2219213 • Views:

More Releases from Orion Market Research

Hair Accessories Market Poised for Strong Growth Driven by Gen Z Trends and Sustainability Preferences
Hair Accessories Market Poised for Strong Growth Driven by Gen Z Trends and Sust …
Hair accessories market was valued at $23.8 billion in 2024 and is projected to reach $55.2 billion in 2035, growing at a CAGR of 8.2% during the forecast period (2025-2035). Generation Z, with significant disposable income, is transforming the hair accessories category in a major way. Their close connection to trends creates a unique feeling of urgency to self-express through fashion, such as clips, scrunchies, and barrettes. It has become
Railway Management System Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
Railway Management System Market Size Analysis, Competitive Insights, Leading Pl …
Railway System (or Railway Management System) market was valued at approximately USD 28.28 billion, and it is expected to reach about USD 45.19 billion by 2033, growing at a CAGR of around 4.8% from 2024 to 2033. Railway Management System Market Overview The Railway Management System market includes technologies and systems used to plan, monitor, and manage railway operations-everything from traffic and signaling systems to asset and maintenance management, passenger information,
Monocalcium Phosphate Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
Monocalcium Phosphate Market Size Analysis, Competitive Insights, Leading Player …
Monocalcium Phosphate market was valued at about USD 4.2 billion, and it is anticipated to reach around USD 6.9 billion by 2033, growing at a CAGR of approximately 5% from 2023 to 2033. Monocalcium Phosphate Market Overview Monocalcium phosphate (MCP) is a calcium-phosphorus compound widely used in animal feed, fertilizers, and also in food and beverage applications (for example as leavening agent or acidity regulator), due to its solubility and bioavailability. The
Automotive Lubricants Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
Automotive Lubricants Market Size Analysis, Competitive Insights, Leading Player …
Automotive Lubricants Market was valued at approximately USD 70.44 billion. By 2033, it is expected to reach around USD 107.09 billion, growing at a CAGR of about 3.3% from 2025 to 2033. Automotive Lubricants Market Overview The automotive lubricants market consists of products like engine oils, gear oils, greases, hydraulic fluids, and transmission fluids that reduce friction, wear and tear, and improve efficiency and lifespan of vehicle components. Demand is driven by

All 5 Releases


More Releases for India

India Smart Air Purifier Market Set to Witness Significant Growth by 2035 | Phil …
India smart air purifier market was valued at $125.8 million in 2024 and is projected to reach $298.7 million by 2035, growing at a CAGR of 8.3% during the forecast period (2025-2035). India Smart Air Purifier Market Overview The Indian smart air purifier market is experiencing significant growth, driven by increasing concerns over air pollution and its impact on health. Consumers are increasingly adopting smart air purifiers equipped with advanced features
Ayurvedic Service Market is Flourishing Like Never Before | Patanjali Ayurved Li …
RnM newly added a research report on the Ayurvedic Service market, which represents a study for the period from 2020 to 2026. The research study provides a near look at the market scenario and dynamics impacting its growth. This report highlights the crucial developments along with other events happening in the market which are marking on the growth and opening doors for future growth in the coming years. Additionally, the
12-11-2018 | Health & Medicine
Pasta
Pasta Market Report 2018 Companies included Bambino (India), Nestle (USA), Field …
We have recently published this report and it is available for immediate purchase. For inquiry Email us on: jasonsmith@marketreportscompany.com This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018 to 2025, etc. The report also provides detailed segmentation on the
Interior Designers India, Designers and Architects India, Interior Design Consul …
Synergy Corporate Interiors Pvt. Ltd. are offer Designers and Architects India Our architects, designers are working an national and international client base. The final design output is then integrated with the various technical and engineering aspects and taken into production. The expression is also individualistic, based on the communication of the correct corporate identity. Our designers, engineers and architects perform any plan successfully combine handy knowledge with creative ideas into
Domain Registration India, Web Hosting India, VPS Hosting India , SSL Certificat …
All the Domain Registration services are at affordable price and assure you for the 100% quality. India Internet offers cheap domain name registration for many domain extensions available. We are a full-service web site solutions provider. We offer a full range of web services including domain registration India, Web Hosting India, Web design, SEO marketing and etc. We offer different standard and different Windows .NET low-cost, full-featured, all-inclusive web hosting and domain
Domain Registration India, Web Hosting India, Payment Gateway India
Indiainternet.in is a Quality Web Hosting Company India, provide all web related support and Web hosting services like linux web hosting, windows web hosting, web hosting packages, domain registration in india, Corporate email solution, business email hosting, payment gateway integration, SSL with supports like free php, cgi, asp, free msaccess, free cdonts, free webmail, web based control panel, unlimited ftp access, unlimited data transfer. During the domain registration process, you will